BUSINESS CHALLENGES
Industry Problems and Pain Points

Complicated Traditional Certification System

The traditional carbon asset certification systems (such as China Certified Emission Reduction) are complex, time-consuming, and available only to industry participation, not consumers.

Low Enterprise Participation

Traditional carbon reduction is mainly driven by administrative orders rather than market-oriented economic incentives. Inevtiably, the enterprises lack the enthusiasm for such programs.

Low Individual Participation

Currently, there is no standard as to the quantification of individual carbon reduction, adding difficulty to evaluating individual carbon reduction data, nor is there an effective rewards system to encourage individuals to participate in carbon reduction. Since there are over 7 billion people in the world, without the participation of individuals, no program can succeed.

Lacking Certification and Supervision

The carbon reduction data can be counterfeited or altered at any stage from source to storage. Lacking effective supervision, it’s hard to monitor the data.

VECHAIN
Solution Overview
  • By leveraging blockchain and IoT technology, we can connect to data sources such as new energy vehicles (NEV), energy-efficient appliances, and garbage collection vehicles, and upload and store the carbon reduction data on the VeChainThor blockchain.
  • DNV GL, an independent third-party, will verify the data uploaded to the blockchain; execute the smart contract developed based on the carbon reduction model designed by the carbon experts; calculate the carbon reduction equivalent of each carbon reduction act; and issue carbon credits for individual users accordingly.
  • Individual users can use the carbon credits they get to pay for the services and products provided by the enterprises in the ecosystem. As for the enterprises, while charging carbon credits, they will also benefit from higher user traffic. The Digital Carbon Ecosystem not only serves to encourage more people to participate in carbon reduction and environmental protection, but also creates new business opportunities and increased value for enterprises.
ADVANTAGES

Effective Patent Protection

Sufficient patent applications guarantee sustainable development of the ecosystem.

Professional Carbon Reduction Model

Our carbon credit model was designed and implemented by carbon reduction experts at DNV GL.

A Secure and Compliant Smart Contract

Professional carbon reduction smart contract based on DNV GL’s carbon reduction model, verified by third-party security companies to ensure safety and compliance.

Theme

VeChain Solution

Traditional Carbon Reduction Solution

VeChain
Solution
Traditional Carbon Reduction Solution

SUCCESSFUL CASES

BYD

BYD, the world’s leading electric vehicle manufacturer, is the first enterprise to join the Digital Carbon Ecosystem. As drivers of new BYD cars go about their daily driving routine, the system will reward the car owners with carbon credits made by calculating their driving performance and the carbon emissions of the vehicles. When authorized by the owner, enterprises are allowed to manage, share and analyze the vehicle data. Electric car manufacturers can enhance brand reputation, increase user stickiness, expand application scenarios and accelerate digital transformation all while promoting carbon reduction.

More Info and Demo

Contact a consultant to learn more about the solution and to discuss a demonstration.

Contact a Consultant
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