University of Cambridge designs ‘Tezos’ powered marketplace for carbon credits

A unique, decentralized carbon market will be created by Cambridge University to help global reforestation efforts.

University of Cambridge designs ‘Tezos’ powered marketplace for carbon credits

A unique, decentralized carbon market will be created by Cambridge University to help global reforestation efforts. By using financial instruments, it hopes to increase the adoption of nature-based conservation solutions, like reforestation.

Purchasing carbon credits will be able to fund NbS projects directly through the platform, according to the institution.

In conjunction with the Conservation Research Institute and the Department of Computer Science and Technology, the initiative is known as the Cambridge Centre for Carbon Credits (or 4C).

Tezos will be built by scientists and researchers. Users of Tezos can vote on governance protocols proposed by developers thanks to a smart contract blockchain.

Users of Tezos can vote on governance protocols proposed by developers thanks to a smart contract blockchain. Through a smart contract blockchain, Tezos users are able to vote on proposed governance protocols. The network is known for being environmentally friendly.

Tezos developers tweeted earlier this year that minting three non-fungible tokens, or NFTs, on the Tezos blockchain produces only .00054 pounds of greenhouse gas emissions, compared to 915 pounds on the Ethereum blockchain for the same NFTs.

Carbon and related benefits such as biodiversity conservation and poverty reduction provided by NbS are currently measured and reported using costly, slow, and inaccurate accreditation systems. As a result, the credibility of NbS carbon credits has been undermined.

There is a need for a decentralized marketplace where buyers of carbon credits can fund trusted nature-based projects confidently and directly. The Centre intends to fill this gap.