Article • Jun 28, 2023

Announcement of First Transactions and Retirements Using Chia Blockchain and Climate Action Data Trust

Summary

The Carbon Opportunities Fund (COF) successfully retired 500 tons of tokenized carbon using the Chia blockchain and CAD Trust.
The retirement transaction can be verified on-chain, providing proof of purchase and retirement of a valid and unique carbon offset.
The COF will continue to acquire and sell high-quality carbon offsets using the Chia blockchain.
In the future, Offer files will be used to sell tokenized carbon in a trustless manner, avoiding the use of SWIFT for payments and enabling immediate settlement without third-party involvement.
Direct on-chain auctions for high-quality carbon offsets sourced and sold by the COF are planned, with secondary markets using Decentralized Exchanges (DEXs) and Chia Offers.
The ultimate goals are to create baskets of carbon projects that fit into major carbon varieties and to enable projects to "go direct" to the markets, unlocking more private capital and ensuring the value of offsets goes to the people implementing the projects.