ConsenSys launches CarbonX P2P carbon credit trading platform

Sept. 25, 2017

Blockchain specialist ConsenSys has launched CarbonX, which the company bills as as the world's first peer-to-peer personal carbon trading company. 

According to a press release, CarbonX aims to engage millions of people in the fight against climate change by materially rewarding individuals for responsible carbon consumption. 

The company plans to purchase carbon credits, or invest in reduction projects and recast the offsets as ERC20 tokens on an Ethereum-based blockchain, then distribute them through an open-loop style loyalty rewards program.

Retailers, brands, and enterprises will be able to offer CarbonX tokens as incentives for individuals to make carbon-friendly decisions, such as joining a rideshare instead of driving their own car to work; purchasing an electric lawnmower instead of a gas-operated model; or favoring locally made food products over those transported from other areas.

CxTs will be tradeable on the CarbonX platform, and exchangeable for carbon-friendly goods and services, other reward program points, or other digital currencies.

CarbonX is a joint venture between ConsenSys and Don and Alex Tapscott, co-authors of "Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World."

Topics:Blockchain, Convertible Virtual Currencies, Cryptocurrency, Exchanges

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