Carbon Credit (Emission Rights and Offset Credits) Data Merge

The management and trading of carbon credits (emissions and offsets) is based on centralized data. This data comes from organizations that certify carbon sequestration and reduction projects.

In the transaction process, Gesia Chain vouchers are tokenized and used. If another chain provides emissions data and offsets are also processed on that chain, a process of “merging” the data from both chains is required to transfer carbon credits issued on the Gesia chain to that chain.

[When carbon credits issued through voucher tokenization on the Gesia chain are offset by merging them on another chain]

1. Gesia Chain uses a “Notary Account” to grant access only to specific operating nodes.

2. When you access the centralized carbon project registration management server using a notary account, the carbon credits issued through it are issued through “Voucher Tokenization”.

3. Carbon credit vouchers are used when there is a need to offset carbon emissions from other chains. To achieve this, the amount of carbon credit vouchers and carbon emissions calculations are processed by signaling to the corresponding chain.

4. To transfer the carbon credit vouchers to the BNB chain, send a signal from the “Bridge Smart Contract” on the Gesia Chain to the “Merge Smart Contract” on the BNB chain to distribute the carbon credit “vouchers” ( Voucher Deploy ).

5. After distributing carbon credit vouchers to the BNB chain, they are issued, and “Derivative Tokens” can also be issued in a custodial manner from the issued carbon credits.

6. The issued carbon credit vouchers and derivative tokens collect emission data through payment services and usage service apps, process it with a carbon emission calculator, and tokenize it.

7. Achieve carbon neutrality by tokenizing emissions and processing them through carbon credit vouchers and a burn calculator smart contract for derivative tokens.