That’s actually pretty simple if you can live with centralization ... just certify CO2 offsets for example for each coin purchased. Then again ... what’s the point of putting that on a blockchain?
> Then again ... what’s the point of putting that on a blockchain?
Marketing. :p
> That’s actually pretty simple if you can live with centralization ... just certify CO2 offsets for example for each coin purchased.
We have this today, but "just certify" does a lot of work here. It's really hard to certify CO2 offsets in many cases (e.g., it's tough to verify that the trees someone plants weren't going to be planted anyway or that they will live to their expected potential and not get burned down prematurely).
3. Use the NFT of the picture of the tree to certify the CO2 offset.
4. Burn down the tree.
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Is it more obvious with this ordering? The NFT proves nothing. It doesn't matter when you burn (or otherwise damage) the tree. You have an NFT stating a carbon offset that is completely fake.
I'm just making fun of the idea that NFTs prove... anything useful... in these circumstances. Its the same thing as people who want to use blockchain to certify supply chains or whatever. The "Blockchain technology" doesn't do anything aside from provide marketing points.
> just certify CO2 offsets for example for each coin purchased
We have something like this in France. Energy providers (for example EDF, Electricité De France) must buy a certain number of CEE (Certificats d'Economie d'Energie, I think the concept is white certificates) every year, or face heavy fines (big enough that buying certificates is a big part of their activities).
As an example: let's say I want to change my window to have more isolation, which will reduce my energy consumption. This can produce a CEE, that I can "sell" to EDF, which will help financing the change.
I found a coin claiming to do this - tradeable carbon credits, where you could extinguish a coin to offset carbon. It seemed like it had no traction.
You could make carbon-neutral coin that automatically offsets its own emissions by buying and extinguishing carbon offsets for every transaction. Obviously this would be cost-prohibitive for Bitcoin, but seems practical for less energy-intensive cryptos. I’m surprised nobody has done this (at least, I didn’t find it by googling). I think you could make billions of dollars off this because of the current furor over environment impact of cryptos. And it would actually be good for the world.
Marketing. :p
> That’s actually pretty simple if you can live with centralization ... just certify CO2 offsets for example for each coin purchased.
We have this today, but "just certify" does a lot of work here. It's really hard to certify CO2 offsets in many cases (e.g., it's tough to verify that the trees someone plants weren't going to be planted anyway or that they will live to their expected potential and not get burned down prematurely).