Installation notes

Stellar CLI:

cargo install --locked stellar-cli --features opt

🌍 Transparent & Efficient Carbon Credits Market - Built on Stellar

Project Overview

Problem Statement

The carbon credit market, as it exists today, is highly fragmented and lacks transparency. Inefficiencies abound, from the verification of carbon credits to the risk of fraud and double counting. These issues undermine trust in the system and often result in carbon credits that fail to deliver on their environmental promises.

Solution: Tokenized Carbon Credits on the Blockchain

To address these issues, we propose a blockchain-based solution using tokenized carbon credits and smart contracts. Our solution will tokenize carbon credits, allowing them to be traded with automatic verification and settlement through smart contracts on the Stellar blockchain.

By utilizing Stellar’s fast, low-cost transactions, we can build a more transparent, efficient, and accessible global carbon credit market, enabling participation from all sizes of carbon reduction projects, especially small-scale ones.

How It Works

Tokenization of Carbon Credits

Each carbon credit will be represented as a unique token on the Stellar blockchain. These tokens will be:

• Traceable: Ensuring that credits are not double-counted or reused, thus eliminating fraud.
• Verified: Issued only after verified reductions in carbon emissions are achieved.
• Tradeable: Allowing carbon credits to be bought, sold, and transferred easily, with transactions settled almost instantly.

Smart Contracts for Automation

Smart contracts will be implemented to automate key processes in the carbon credit lifecycle:

• Verification: Carbon credits will only be minted (issued) after emission reductions are verified by trusted authorities.
• Enforcement: Rules governing the use of carbon credits will be built directly into the smart contracts, ensuring compliance with environmental standards.
• Settlement: Transactions will settle automatically on the Stellar network, ensuring fast, low-cost, and reliable trades.

Why Stellar?

We chose Stellar for this project because of its unique advantages in creating a global carbon credit marketplace:

• Fast Transactions: Stellar's consensus protocol allows for near-instant confirmation of transactions, critical for real-time trading.
• Low Fees: Stellar’s low-cost transactions make it an ideal platform for projects of all sizes, especially smaller carbon reduction initiatives that often face financial barriers in participating in carbon markets.
• Global Accessibility: Stellar’s open network allows for global participation, which is crucial for scaling carbon credit markets to include both large and small projects from all over the world.

Key Features

• Tokenized Carbon Credits: Unique, traceable tokens representing verified carbon emission reductions.
• Smart Contract Automation: Automatic enforcement of carbon credit rules, ensuring transparency and efficiency.
• Secure, Fast, and Low-Cost Transactions: Utilizing Stellar’s blockchain for global, near-instant transactions at minimal cost.
• Anti-Fraud Mechanisms: Prevents double counting and fraud through blockchain's inherent transparency.

Potential Use Cases

1. Corporate Carbon Offsetting: Companies can buy tokenized carbon credits to offset their carbon emissions.
2. Small-Scale Carbon Projects: Farmers and local communities can participate by tokenizing their carbon reduction activities and selling credits on the global market.
3. Environmental NGOs: Non-profits can track and verify carbon credits more efficiently, ensuring accountability in carbon reduction projects.
4. Carbon Credit Traders: Investors and traders can buy, sell, or hold carbon credits as tradable assets, creating a more dynamic market.

Getting Started

Prerequisites

• Stellar SDK: To interact with the Stellar blockchain.
• Smart Contract Tools: Any tool that supports the development of Stellar smart contracts (e.g., Soroban).
• Wallet: A Stellar wallet for storing and transferring tokenized carbon credits.

Installation

1. Clone this repository:

   git clone https://github.com/your-repo/carbon-credits-stellar.git
   cd carbon-credits-stellar
   

2. Install necessary dependencies:

   npm install
   

3. Set up your Stellar environment with the Stellar SDK to interact with the blockchain.

4. Start your virtual python environment

5. Run the carbon_token.py script to mint carbon credits and check_balance to check the corresponding balance

6. soroban contract invoke
   --id CDNQCPILRQOXSYIQKGVECL54FSS3UPP62H3B4IC7UU4G4RTFTDITLJRQ
   --network testnet
   --source alice
   --
   create
   --buyer $(stellar keys address alice)
   --price_per_token 100
   --total_value 1000

Roadmap

1. Phase 1: Develop and test the core tokenization and smart contract logic.
2. Phase 2: Build a front-end interface for users to interact with the carbon credit marketplace.
3. Phase 3: Partner with verified carbon reduction projects to onboard their credits onto the platform.
4. Phase 4: Expand to include secondary markets and allow more participants, including corporations, governments, and NGOs.

Contributing

We welcome contributions to improve the project! Please submit issues and pull requests on our GitHub repository.

1. Fork the project.
2. Create your feature branch:

   git checkout -b feature/AmazingFeature
   

3. Commit your changes:

   git commit -m 'Add some AmazingFeature'
   

4. Push to the branch:

   git push origin feature/AmazingFeature
   

5. Open a pull request.

License

This project is licensed under the MIT License - see the LICENSE file for details.

Acknowledgments

• Stellar Development Foundation for providing an excellent platform for building fast and low-cost blockchain applications.
• All contributors to the project.