The climate crisis is a huge problem facing society and it’s not a simple one to solve. It requires us to look at solutions to address consumption. At CENNZnet we have focused on ensuring we develop carbon friendly technology first and foremost. Our blockchain tech uses energy efficient proof of stake consensus which consumes similar footprints to typical applications like twitter.
Secondly we believe digital technology can help us reduce consumption by removing friction in processes, allowing more digital interactions over physical ones and allowing the consumption of light weight digital goods over heavy footprint physical ones.
But we want to go one step further than that which is why we are adding offsetting to the mix. This means that even the small impact we do make which is hard to avoid is also taken care of. CENNZnet itself will be offset and having carbon credits on chain will allow others who build applications to include offsetting as part of their own climate action plans
The CO2 token is a generic asset created on CENNZnet that allows people to buy, sell and trade real world CO2, as well as lock in the ground through sequestering. Having tokenised CO2 on the network makes it easy for DApps or businesses to create and enact their own robust climate action plans.
CENNZnet by nature doesn’t control where and how all the nodes on the network are run - it’s part of the promise of decentralisation. This means it is impossible to guarantee that all the CENNZnet nodes are run with clean energy.
However, what we can do is use the CO2 token on-chain to offset far more real-world carbon than even the dirtiest network of nodes could ever emit. This way we retain decentralisation while also being assured carbon negative.
What does this mean? This is the same amount of CO2 produced by 769 "On premise or data center-server using non-green electricity".