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Tezos Powers the Cambridge Centre for Carbon Credits (4C) Decentralized Marketplace for Nature-Based Solutions
The renowned Cambridge Centre for Carbon Credits (4C) has unveiled the inner workings of its decentralized marketplace dedicated to nature-based solutions. Operating on the Tezos blockchain in collaboration with Cambridge University, this groundbreaking platform seeks to connect carbon credit purchasers with nature-based solution projects, leveraging cutting-edge technology for a greener tomorrow.
By: XTZ News
26 October 2023
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Tip: Read Our Previous article on this project before reading this article, for context.
This article follows on from our last article on the project here.
The renowned Cambridge Centre for Carbon Credits (4C) has unveiled the inner workings of its decentralized marketplace dedicated to nature-based solutions. Operating on the Tezos blockchain in collaboration with Cambridge University, this groundbreaking platform seeks to connect carbon credit purchasers with nature-based solution projects, leveraging cutting-edge technology for a greener tomorrow.
An Overview of 4C’s Decentralized Marketplace Built On Tezos
The 4C marketplace acts as a bridge between nature-based solutions and entities wishing to purchase carbon credits. It uses an innovative system driven by primary observations like satellite imagery. The system can quantify “the positive externalities that arise from project zones” and also project their future potential. Tokens minted within this ecosystem signify carbon sequestration. These tokens allow purchasers to claim a certain amount of verified carbon offset or to vouch for their funding towards a positive environmental outcome.
One of the notable features is that the tokens are minted based on concrete outcomes. As cited in the information, “a project that results in the sequestration of an additional 100 tonnes of carbon might be allowed to mint 100 tokens.” Once a token is bought, it can be utilized to claim a tonne of verified carbon offset. These tokens are also “verifiably buried once,” ensuring they can’t be resold, fostering trust and transparency.
4C’s Ambitious Goals for the NbS Marketplace System
The platform is envisioned to be:
Global: Supporting a scalable token market across various regions.
Verifiable: Ensuring transparency, where primary data and all transactions are visible and immutable.
Durable: Intended to last for decades, given the long-term nature of nature-based projects.
Efficient: Directly financing project owners, bypassing any potential intermediaries.
Liquid: Facilitating token resale and enabling the formation of diverse portfolios.
The Technological Backbone of the Marketplace
The 4C marketplace hinges on a few critical components:
Establishing ownership of a nature-based solution through trusted third-party verified land ownership records.
Using remote sensing technologies, such as satellites or UAVs, for primary observations to determine carbon stocks and flows.
Storing primary observations on the Inter-Planetary File System (IPFS) for long-term accessibility.
Leveraging the Tezos blockchain, an efficient decentralized digital ledger, to ensure observations are tamper-proof and trackable.
Analyzing satellite observations for various factors like additionality, permanence, and leakage.
Minting tokens based on algorithmic outcomes, linking tokens directly to primary observations.
Ensuring full transparency in the marketplace, where decentralized exchanges convert tokens to fiat currency.
All these processes are intricately linked on the Tezos blockchain, ensuring that “no tokens can be double-sold, and that all transactions between buyers and sellers are globally visible.”
Furthermore, the 4C system is designed to be modular. Each component can be independently upgraded, reproduced, or integrated into other nature-based solution systems.
Why Tezos?
Tezos’ decentralized blockchain proves crucial for 4C’s platform. Its features ensure that the marketplace is decentralized, verifiable, durable, permissionless, and liquid. These aspects, combined with the energy efficiency of Tezos, reinforce the platform’s commitment to sustainability.
In addition, 4C emphasizes its open-source nature. The entire marketplace, including the underlying code, operates on the open-source and energy-efficient Tezos blockchain.
Cambridge Centre for Carbon Credits Overview
The Bigger Picture: 4C’s Mission
The mission of 4C extends beyond just creating a marketplace. The world grapples with both a climate and biodiversity crisis. Through the 4C platform, there’s a consolidated effort to tackle these challenges. Preserving forests, especially tropical rainforests, is vital in combating both crises. The decentralized marketplace incentivizes such preservation through a reliable and transparent carbon credit system.
Prof. S. Keshav, co-director of 4C, elaborated on the approach in a video series, emphasizing the importance of accurately assessing carbon credits and the role of technology in achieving this.
With the integration of advanced technologies and the Tezos blockchain, the Cambridge Centre for Carbon Credits is not only pioneering a new path for carbon credits but also ensuring a more sustainable future for the planet.
The renowned Cambridge Centre for Carbon Credits (4C) has unveiled the inner workings of its decentralized marketplace dedicated to nature-based solutions. Operating on the Tezos blockchain in collaboration with Cambridge University, this groundbreaking platform seeks to connect carbon credit purchasers with nature-based solution projects, leveraging cutting-edge technology for a greener tomorrow.
Green Earth Trading introduces a supply chain solution built on Tezos to prove the origin of products.
This solution should be affordable for farmers and producers of any scale, including the smallest and most marginalized.
The renowned Cambridge Centre for Carbon Credits (4C) has unveiled the inner workings of its decentralized marketplace dedicated to nature-based solutions. Operating on the Tezos blockchain in collaboration with Cambridge University, this groundbreaking platform seeks to connect carbon credit purchasers with nature-based solution projects, leveraging cutting-edge technology for a greener tomorrow.
Cambridge University is building a carbon credit marketplace on Tezos to support reaching the UN Climate Change Conference (COP26) goals and help halt deforestation.
The Cambridge Centre for Carbon Credits (4C), built on the energy-efficient Tezos blockchain, will use a combination of AI and satellite sensing to build a decentralized marketplace of verifiable carbon credits.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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