[mac01021]

What does it mean to be "backed by" carbon captured?

Talk of backing a currency traditionally refers to some mechanism that guarantees people will continue to value it in the future:

- a currency is "backed by gold" if it is exchangeable for hunks of metal by whoever holds some of it (the future value of those hunks being taken as granted)

- a currency is backed by a government if that government guarantees that the currency will remain sufficiently scarce and that it will be a/the means of paying taxes due to that government.

In this case, though, you just mean that a coin is minted each time a ton of co2 is sequestered, right? And you would need some other mechanism to generate demand for the coins?

[WithinReason]

> In this case, though, you just mean that a coin is minted each time a ton of co2 is sequestered, right? And you would need some other mechanism to generate demand for the coins?

Exactly.