Carbon Trader

Videos

Description

Our project is a blockchain-based carbon trading system designed to revolutionize the global carbon market by addressing the critical challenges of climate change.

Background

Climate change is a pressing global issue. In 2024, 36 carbon trading markets are operational worldwide, covering 9.9 billion tons of CO₂ equivalent, representing 18% of global greenhouse gas emissions. However, traditional carbon trading systems face significant limitations that hinder their growth and effectiveness:

Low transparency: Transactions lack public visibility, making auditing and tracking difficult.
Centralized trading systems: Heavy reliance on centralized entities reduces trust and efficiency.
Complex cross-border transactions: Regulatory differences and currency fluctuations lead to high costs and inefficiencies.

Our Solution

We propose a blockchain-based carbon trading system with key advantages:

High transparency: All transactions are recorded on-chain, ensuring permanent, auditable records.
Decentralization: Powered by smart contracts, our system eliminates dependency on centralized institutions.
Simplified cross-border transactions: Leveraging stablecoins, we reduce risks from currency fluctuations and streamline payments.

Key Interactions:

Carbon Quota Allocation: Enterprises apply to governments for carbon quotas, which are issued based on emission targets.
Quota Management: Enterprises manage operations according to their quotas. If insufficient, they can acquire more through market trading or auctions.
Incentivizing Low Emissions: Enterprises with surplus quotas can sell them on the market, promoting low-carbon practices.

Two Trading Modes:

We have two trading modes

Ordinary Trading: Enterprises set prices in the market. Buyers can directly purchase, with transactions automated by smart contracts for secure and efficient quota/token transfers.
Auction-based Trading: Enterprises initiate auctions where authorized participants bid with encrypted data for privacy.

Blockchain technology ensures all auction results are transparent, auditable, and immutable.

Vision

As climate change accelerates, the need for efficient, transparent, and scalable carbon trading systems becomes critical. Our blockchain-based solution empowers enterprises, governments, and the global community to collaborate effectively, fostering a carbon-neutral future.

Progress During Hackathon

Our team followed a structured weekly plan to ensure steady progress throughout the hackathon: Week 1: Conducted research on carbon trading systems and blockchain integration. Completed the initial framework setup. Weeks 2-3: Focused on development and system optimization. Week 4: Finalized the project, prepared presentation materials, and recorded the demo video. Weekly meetings were held to align progress, review tasks, and set clear goals for the next week, ensuring efficient collaboration and timely delivery.