The Pain Points to Resolve

Carbon neutrality is one of the biggest challenges facing mankind in the 21st century. Among the most significant contributors to global GreenHouse Gas (GHG) emissions is carbon dioxide (CO2) emitted by power generation, accounting for around 30% of the total global greenhouse gas emissions (EPA: Sources of Greenhouse Gas Emissions).

As global economic growth has demanded more and more electricity, the carbon neutralization progress of the power system plays a key role. That’s why IPCC (Intergovernmental Panel on Climate Change)’s investigation has called for serious concern on renewable energy to mitigate the climate impact.

Climate actions must be taken to save the earth before it's too late. The governments and enterprises take big responsibility to reduce the carbon emission. In addition, today, the individuals are also taking part in the inclusive climate actions.

Yet, today's carbon credit trading mechanisms are facing challenges. One of the challenges is, the mechanisms are designed for big deals and they are not suitable for trivial carbon credit issuing, trading and retiring. Traditional carbon certification process requires people to manually collect data that could prove the carbon emission or reduction. It's acceptable for a hydropower station but obviously too costly for residential roof-top solar photovoltaic panels. It's also not easy for individuals to trade small amount of carbon credits in a traditional carbon exchange institution. An individual can even not be able to open an account in the exchange.

Another challenge is the transparancy. Traditional certification institutions endorse the certificates they issue. But it's difficult (if not impossible) to disclose all necessary data that supports the certificate. The opacity induces lack of trustworthiness and may lead to obstacle in carbon credit trading and retirement, especially when the issuing party and the retiring party are in different countries.

Arkreen Netwok is engaging in building a digital web3 infrastructure for the inclusive climate actions based on IoT (Internet of Things), blockchain (Distributed Ledger Technology) and token economy.

IoT and blockchain are existing infrastructures that would change the game rule, while token economy is the catalyzer to boost the DePIN-based projects.

IoT digitizes the climate related actions such as the amount of the renewable energy generation. It creates a twined digital context reflecting the climate actions in the physical world. This significantly reduce costs in certifying the climate actions and remove the bar that hinders the individuals from participation.

Blockchain offers a transparent, trustworthy and verifiable infrasture for the digital twins of the physical world. Such trustworthy digital twins are sometimes called the Metaverse. Blockchain+IoT provide unprecedented transparancy and trustworthiness for the climate actions and green assets.

In addition, token economy encourages participants (both the supply side and the demand side) to build a harmonious ecosystem to catalyze thriving climate actions with little friction. With those innovative technologies, Arkreen Network aims to build up this infrastructure in a decentralized way from bottom-up by incentivizing climate actors in renewable energy areas.