Carbon Footprint Traction System Incorporated as Blockchain Application

EasyChair Preprint 15261

Abstract

This article tries to offer a solution to an environmental sustainability problem by forward-thinking approach and tries to construct a carbon footprint tracking system based on blockchain technology while also introducing tokenization intertwined with the blockchain for making everyday use as accessible and effective as possible.  

This effort aims to provide a solid use case for environmental sustainability and lays the groundwork of a new generation social construct where carbon footprint is a valuable unit like money next to the other important tokenized attributes a person can possibly hold. The study proposes a blockchain-based solution in order to store the data. Through tokenization, transacting and share of data is facilitated. As a result carbon footprint data can be treated as a fungible utility token.

The article tries to explain how and which blockchain technology offers effective solution to challenges in global carbon tracking systems. In this context a use-case proposed.  Critical features of the blockchain-based platform, are examined. Additionally, the roles of parties and user interactions within the system are detailed.  In conclusion, this article proposes adaptation of blockchain technology together with smart contracts and tokenization into carbon footprint management.

Keyphrases: Attribute Tracking, Blockchain, CO2, Data Sharing through Smart Contracts, Tokenization, carbon footprint, utility token

@booklet{EasyChair:15261,
  author    = {Umut Pekel and Oguz Yayla},
  title     = {Carbon Footprint Traction System Incorporated as Blockchain Application},
  howpublished = {EasyChair Preprint 15261},
  year      = {EasyChair, 2024}}