Voucher Token Issuance

The tokenization of carbon credits involves converting off-chain carbon offset certificates, which verify actual "carbon offsets (absorption or reduction)," into "digital vouchers" on the blockchain. This transformation process records and manages the results of actual carbon offset activities in digital form.

The core of this technology is the participation of verified certifying bodies such as Verra, the Forest Service, and Gold Standard as nodes, directly linking the on-chain and off-chain Carbon Offset Registry (COR) with the blockchain. This linkage enhances the transparency and reliability of carbon offset projects and increases the efficiency of the digital carbon market.

Registration Timing of a New Carbon Project in the Carbon Offset Registry

The registration process of a certifying body for a carbon project includes the following steps:

1. Creation of a New Carbon Offset Registry: Each time a certifying body for a specific carbon project is registered, a new carbon offset registry is created. This registry is used to record and manage the carbon offset activities of the project.

2. Issuance of Notary Accounts: Notary Accounts are issued to the certifying body through a DAO (Decentralized Autonomous Organization). These accounts provide the necessary authority for the certifying body to manage and verify the carbon offset registry.

3. Deployment of a New Voucher Smart Contract: The new carbon offset registry deploys a new voucher smart contract on the blockchain chain. This smart contract is used to handle transactions related to carbon offset activities and automate the issuance and management of carbon credits.

   

   Issuance Timing of Certified Carbon Offsets During the Verified Period

The process of certifying and issuing new carbon absorption and reduction amounts in a carbon project includes the following steps:

1. Issuance of Carbon Absorption and Reduction Amounts: The certifying agency issues new carbon absorption and reduction amounts for the carbon project. This represents the amount by which the project has contributed to reducing or absorbing carbon emissions.

2. Requirement for Minting Notary Tokens: To issue new carbon absorption and reduction amounts, the certifying agency must receive a Minting Notary Token through a DAO (Decentralized Autonomous Organization).

   • Receiving Minting Notary Tokens in Notary Accounts: These Minting Notary Tokens can only be received through Notary Accounts. This ensures the integrity and reliability of the certification and issuance process for carbon absorption and reduction amounts.

3. Burning of Minting Notary Tokens: Once the carbon absorption and reduction amounts are successfully issued as voucher tokens, the Minting Notary Tokens stored in the notary accounts are burned. This signifies the completion of the carbon credit issuance process and maintains network integrity by removing the used tokens.