ConsenSys introduces CarbonX, a Blockchain Initiative to Fight Climate Change

New York, NY; September 21, 2017 - Global blockchain specialist firm ConsenSys is pleased to announce the launch of CarbonX, the world’s  first peer-to-peer personal carbon trading company. The CarbonX venture is a balanced joint venture between ConsenSys and a co-founding group that includes Don and Alex Tapscott, the co-authors of the best-selling book, Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.  CarbonX is a unique partnership utilizing the world’s leading blockchain thought leaders, talent and technology.

CarbonX will 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 re-cast 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 offer CarbonX Tokens (CxTs) as incentives for individuals to make carbon-friendly decisions such as joining a rideshare instead of driving their own cars to work, purchasing an electric lawnmower instead of a gas one, or favoring locally made food products. The CxTs will then be tradeable on the CarbonX platform and be able to be exchanged for carbon-friendly goods and services, other reward program points, or other digital currencies. CarbonX is designed to enlist and empower people everywhere to contribute to carbon reduction.

Joseph Lubin, Co-Founder of Ethereum and Founder of ConsenSys says, "As one of the fastest growing companies working on Ethereum, a platform that is poised to reformat how the world organizes itself, ConsenSys is committed to enabling technologies to be built that will facilitate attention to externalities like pollution and critical new foundations like sustainability. CarbonX has the potential to incentivize behavior that contributes to environmental sustainability, and is an excellent example of Ethereum-based technologies poised to make positive change."

“We believe blockchain enables CarbonX to open up a billion-dollar marketplace for personal carbon trading,” says Don Tapscott, world-renowned author, blockchain expert and Chairman of CarbonX.  “Climate change is the critical issue of our time and CarbonX can unlock the power of the people to bring about change.”

CarbonX advisor Dr. Richard Sandor, Time Magazine’s “Father of Carbon Trading” adds: “Blockchain technology has the potential to further expand the applications of market-based mechanisms to help solve environmental concerns. I am pleased to support CarbonX as another positive step towards transparency, accountability and lower transaction costs.”

About CarbonX

CarbonX’s Ethereum-enabled platform will mobilize millions of people to take action against climate change. CarbonX invests in carbon credits and reduction projects and re-casts the offsets as ERC20 tokens, which are distributed through an open-loop loyalty rewards program that incentivizes carbon-friendly behaviors. A ConsenSys Spoke, CarbonX was co-founded with Don, Bill and Alex Tapscott, recognized blockchain industry leaders. For more information, please go to: https://www.carbonx.ca.

 CarbonX has engaged Block Partners ULC as strategic advisors. For more information, visit www.blockpartners.io

 Follow CarbonX: LinkedIn, Twitter

 About ConsenSys

ConsenSys is a venture production studio and custom software development consultancy building decentralized applications (DApps), enterprise solutions and developer tools for blockchain ecosystems, focused primarily on Ethereum. Powered by smart contracts and secured through encryption, our applications provide the benefits of transparency, auditability, and immutability that are unique to blockchain-based solutions. For more information please go to https://consensys.net/.

Follow ConsenSys: GitHub, Facebook, LinkedIn, Twitter

MEDIA CONTACT:
Meghan Powers

meghan@pacepublicrelations.com
917-701-9777

1 Comment

Introducing CarbonX: A New Tool in the Fight Against Climate Change

Climate change is one of the most significant challenges of the 21st century. CarbonX will use the power of blockchain technology to engage millions of people in the fight against this global threat.

As this post is being written, the intense damage done by Hurricane Harvey in Texas and Hurricane Irma in Florida is still being assessed. Many are drawing a link between the intensity of these superstorms and warming temperatures. In fact, scientists predict that average global temperature could rise between 1.4 and 5.8 degrees Celsius by the year 2100, leading to major changes in our delicately balanced environment.

The main contributors to this temperature increase are human activities such as the burning of fossil fuels, land clearing, and agriculture, leading to elevated volumes of carbon dioxide and other greenhouse gases in the atmosphere.

The Fight Against Climate Change

To date, efforts to combat climate change have been focused on governmental legislation that obligates corporations to reduce their greenhouse gas emissions via a cap and trade system or through carbon-based taxation. National targets have been set and contributions are also being made by regional and local governments, non-state actors and NGOs.

But, the urgency and severity of the crisis means every person on the planet must be mobilized to do their part. The effective engagement of individuals in the fight against climate change is the mission of CarbonX.

How CarbonX Works

CarbonX will engage millions of people in the fight against climate change by materially rewarding individuals for responsible carbon consumption.

CarbonX will achieve this by investing in compliant carbon reduction projects and re-casting generated offsets as ERC20 tokens, then distributing them through an open-loop style loyalty rewards program.

Participating retailers and brands will offer CarbonX Tokens (CxT) to consumers as an incentive for making carbon friendly decisions — e.g. joining a rideshare instead of driving their own car to work.

CxTs will be tracked via a mobile app and initially can be traded amongst consumers and exchanged within the CarbonX network for carbon friendly goods and services, for other reward points, or for other digital currencies. CxTs will be positioned to convert to fully tradeable credits once permitted under securities regulations

Initially launched in Canada, CarbonX will move quickly to establish a large float of its offset tokens. In time, people and organizations will be eligible to generate tokens by practicing new sustainable behaviors sponsored by CarbonX.

CarbonX’s ultimate goal is to become the global platform for peer-to-peer personal carbon trading.

 

1 Comment

Don Tapscott Announces International Blockchain Research Institute

by Jessie Willms

The government of Canada, in partnership with other government bodies and private sector companies, is establishing a Blockchain Research Institute in Toronto to bring together the top minds in public and private sector research to build blockchain-based economies around the world.

Like the early days of the internet when defense and research agencies worked together to build the internet, the new foundation is hoping to engage researchers and companies that are willing to set aside their organizational biases and personal interests to develop the best possible models to go forward building a blockchain-based economy...

[Read more]