Since BTC seems to create insane incentives to consume energy - I've been wondering if it would be possible to create an arbitrary cryptocurrency whose "mining" is tied to the verified removal of C02 from the atmosphere. Instead of getting governments to set a price for the carbon, consumer demand for the currency would drive the demand.
Carbon credits seems to be a possible solution.<p>Plantations all around the world that help produce more oxygen are capable of claiming carbon credits.<p>Example: A bamboo plantation releases upto 30% more oxygen than other plants. You sow it once, just needs sunlight and water, basic wasteland to grow. Ofcourse it grows faster when given drip irrigation, manure/fertilizers, etc. It keeps giving produce for the next 60 years without the interference.
Since China, India, vietnam already have already have a large forest cover of bamboo as well as agricultural plantations, they're in good position to connect mining operations to agriculture<p>Maybe A Startup that can:
- verify/track these types of plantations using advance monitoring setups.<p>- Give the farmers a Minimum Support Price for their cultivations and carbon credits.<p>- Become a platform between various stakeholders like crypto miners, farmers, organizations supporting the farmers, government, etc<p>- Sell those carbon credits on already exisiting markets or create their own exchange.<p>- Create crypto token in some form tied to these carbon credits if you want the hype<p>- Incentivize miners and farmers to join the platform to balance supply and demand.<p>- Sell this as a CSR opportunity<p>- Consumer demand for currency can be increased when consumer owns the plantation costs themselves(Maybe Owning the produce of the farm)
While farmers have lands, they necessarily don't have the capital to cultivate. So people who have capital can get engaged with them in a contract farming approach.<p>- Get everyone some crypto token<p>This gives the virtual world a chance to actually get connected to physical assets and people in a way that everyone stays invested.
I think Chainlink could work for that :<p><a href="https://coinmarketcap.com/currencies/chainlink/" rel="nofollow">https://coinmarketcap.com/currencies/chainlink/</a>
Proof of Carbon?<p>You'd need to fuse it with the hardware doing that carbon capturing. Otherwise (and even then) it could be spoofed.<p>Blockchain + The Real World = Problems<p>Blockchain + token on said blockchain = Successs