VeChain

SOLUTION

Digital Carbon Ecosystem Solution

For Companies Interested in Carbon Reduction

VeChain’s Digital Carbon Ecosystem is a ground-breaking blockchain and IoT powered carbon reduction platform which utilizes economic incentives to encourage both individual and enterprises to participate in the reduction of carbon emissions. As consumers engage in low-carbon behaviors (say, by purchasing low-carbon products), they earn a carbon reduction credit which can be redeemed for benefits from other ecosystem partners such as retailers or even financial services providers.

Contact a Consultant

Complicated Traditional Certification System

The traditional carbon asset certification systems (such as China Certified Emission Reduction) are complex, time-consuming, and available only to industry participation, not consumers.

Low Enterprise Participation

Traditional carbon reduction is mainly driven by administrative orders rather than market-oriented economic incentives. Inevtiably, the enterprises lack the enthusiasm for such programs.

Low Individual Participation

Currently, there is no standard as to the quantification of individual carbon reduction, adding difficulty to evaluating individual carbon reduction data, nor is there an effective rewards system to encourage individuals to participate in carbon reduction. Since there are over 7 billion people in the world, without the participation of individuals, no program can succeed.

Lacking Certification and Supervision

The carbon reduction data can be counterfeited or altered at any stage from source to storage. Lacking effective supervision, it’s hard to monitor the data.

VECHAIN

Solution Overview

By leveraging blockchain and IoT technology, we can connect to data sources such as new energy vehicles (NEV), energy-efficient appliances, and garbage collection vehicles, and upload and store the carbon reduction data on the VeChainThor blockchain.
DNV GL, an independent third-party, will verify the data uploaded to the blockchain; execute the smart contract developed based on the carbon reduction model designed by the carbon experts; calculate the carbon reduction equivalent of each carbon reduction act; and issue carbon credits for individual users accordingly.
Individual users can use the carbon credits they get to pay for the services and products provided by the enterprises in the ecosystem. As for the enterprises, while charging carbon credits, they will also benefit from higher user traffic. The Digital Carbon Ecosystem not only serves to encourage more people to participate in carbon reduction and environmental protection, but also creates new business opportunities and increased value for enterprises.

ADVANTAGES

Effective Patent Protection

Sufficient patent applications guarantee sustainable development of the ecosystem.

Professional Carbon Reduction Model

Our carbon credit model was designed and implemented by carbon reduction experts at DNV GL.

A Secure and Compliant Smart Contract

Professional carbon reduction smart contract based on DNV GL’s carbon reduction model, verified by third-party security companies to ensure safety and compliance.