Blockchain solutions for carbon markets are nearing maturity

Sipthorpe, Adam; Brink, Sabine; Leeuwen, Tyler Van; Staffell, Iain

doi:10.1016/j.oneear.2022.06.004

Cited by 38 publications

(22 citation statements)

References 33 publications

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“…52 Smart contracts are simple codes that can be executed to perform a specific function. 53 These contracts are equivalent to paper contracts, but they eliminate the need for an enforcement agency to ensure compliance because once the contract is executed, it is completed exactly as planned, regardless of any additional human input. A carbon credit ecosystem based on blockchain technology is created in Saraji and Borowczak 54 that includes four smart contracts: (i) recording the essential data using a registry system on the blockchain, (ii) mining carbon tokens, (iii) multisignature contract, and (iv) automated market maker.…”

Section: Smart Contractmentioning

confidence: 99%

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Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Parhamfar,

Sadeghkhani,

Adeli

2024

Energy Science & Engineering

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The increasing trend of energy generation and management systems towards decentralized structures such as using renewable energy resources makes it necessary to use digital and smart platforms for exchanging information and even conducting financial transactions in a decentralized manner, known as the peer‐to‐peer model. The decentralized transaction verification of cryptocurrencies makes it possible to use these encrypted currencies and decentralized blockchain networks in energy management systems and carry out financial transactions related to carbon trading. Carbon and other greenhouse gas (GHG) emission trading systems reduce the competitiveness of fossil fuel projects in the market and accelerate investment in low‐carbon energy sources such as wind and photovoltaic power generation units. This market mechanism allows large entities such as countries and companies that emit GHGs into the atmosphere to buy and sell these gases. This paper reviews the blockchain solutions developed for carbon markets. Studies related to the design of smart contracts in the platform of blockchain are investigated. Special cryptocurrencies that are used in the field of green energy transactions and carbon trading are introduced. In addition, the application of artificial intelligence and game theory in energy trading is stated. The study of different blockchain frameworks for carbon trading shows that the use of decentralized platforms in carbon trading can have a significant impact on the trend towards low‐carbon measures and achieving the goals of the Kyoto Treaty, increasing the value of green cryptocurrencies and the volume of transactions. These technologies offer a promising avenue for creating a more decentralized, efficient, and environmentally conscious energy ecosystem.

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Section: Smart Contractmentioning

confidence: 99%

“…Currently, there are several national carbon tax and pollutant trading systems that cover about one-fifth of global GHG emissions. 53 The use of blockchain in the carbon industry is inevitable. Many features of the carbon trading market are similar to the blockchain mechanism.…”

Section: Blockchain In Carbon Tradingmentioning

confidence: 99%

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Parhamfar,

Sadeghkhani,

Adeli

2024

Energy Science & Engineering

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“…60 Finally, such radical sharing efforts may become more sustainable, fair, inter/multi/trans-disciplinary, and well-funded through adoption of novel "decentralized science" methods that leverage cryptoeconomic mechanics (e.g., tokenization, consensus, crowdsourcing, smart contracts, reputation systems) to coordinate scientic collaborations across large scales and complicated networks 72 a method that has recently shown promise in mitigating other global challenges such as climate change. 73…”

Section: Assessing Hazards Of Microplastics To Humans Through Drinkin...mentioning

confidence: 99%

“…, tokenization, consensus, crowdsourcing, smart contracts, reputation systems) to coordinate scientific collaborations across large scales and complicated networks 72 – a method that has recently shown promise in mitigating other global challenges such as climate change. 73…”

Section: Introductionmentioning

confidence: 99%

The emergence of microplastics: charting the path from research to regulations

Coffin¹

2023

Environ. Sci.: Adv.

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“…In this regard, carbon offsetting has become a requirement in many industries worldwide, and businesses receive certified emission reductions for executing climate-friendly projects or eliminating greenhouse gas emissions from the atmosphere. Applying blockchain technology in the carbon context unlocks opportunities to access liquid markets for carbon trading, voluntary contributions and partnerships, injecting financial capital into environmental activities and so forth (Sipthorpe et al. , 2022).…”

Section: Going Beyond “Enterprise Blockchain Solutions” For Creating ...mentioning

confidence: 99%

Enterprise blockchain solutions for vibrant construction ecosystem: Grey Ordinal Priority Approach

Sadeghi,

Mahmoudi,

Deng

et al. 2023

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PurposeThe aim of this article states that in each stage of the industrial revolution, only a few initiatives have been real game changers. In Industry 3.0, “Internet of Information” has transformed the business landscape via connectivity and communications. Enterprises could come together to spur innovation in a cooperative or competitive manner. In Industry 4.0, the “Internet of Value” has shown considerable benefits; and, blockchain technology is expected to touch all layers of a business ecosystem, and the construction industry is not an exception.Design/methodology/approachThis study aims to answer the “How do enterprise blockchain solutions contribute to the vibrancy of the construction ecosystem from social, economic, and environmental aspects?” Following a comprehensive literature review, the Grey Ordinal Priority Approach (OPA-G) is employed in multiple criteria decision analysis (MCDA). OPA-G can select functionally rich enterprise blockchain solutions that meet the needs of the future construction industry, while there is uncertainty in the input data.FindingsThe results from the case study show that organization under observation welcomes an enterprise blockchain solution that delivers services related to “renewable energy certificates” in the context of “smart cities and built environment”. Employing high-ranked blockchain solutions brings vibracy and sustainability to construction ecosystem in terms of “C6. decentralized finance and investment,” “C3. multi-party and cross-industry collaboration,” and “C8. data-driven value creation”.Originality/valueAt the micro level, blockchain solutions automate processes, streamline operations, and build new capacities on a new business model. At the macro level, blockchain creates a vibrant ecosystem based on transparency, decentralization, consensus-based democracy, interoperability, etc. Indeed, the capability of blockchain solutions at an enterprise scale (enterprise blockchain solutions) can shape a new construction ecosystem. The practical implications of current research are preparing executives for a fundamentally different next normal in construction.

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Blockchain solutions for carbon markets are nearing maturity

Cited by 38 publications

References 33 publications

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

The emergence of microplastics: charting the path from research to regulations

Enterprise blockchain solutions for vibrant construction ecosystem: Grey Ordinal Priority Approach

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