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canterhill Global Carbon exchange
A Working Carbon Credit Token Must Be:
- Easily accessible through a global marketplace/digital exchange
- Easy to use and simple to understand
- A token with a verifiable creation mechanism based on actual amounts of CO₂ removed from the air
- Available to all verified carbon credit producers
- Able to guarantee that each carbon credit token can only be used once
- Kept on an irrefutable ledger containing transactional and usage records stored on a decentralized network
The Cintamani™ Carbon Credit Tokens
Tradable One-time Use Tokens
- Our carbon credit tokens, the Cintamani™, are created on our proprietary blockchain using a variation of the Proof of Work algorithm based on second generation blockchain/cryptocurrency technology.
- Our blockchain will be connected to all of our DAC Everywhere™ units deployed worldwide.
- Sensors in our DAC Everywhere™ units will verify that it is operational, online and actively removing CO₂ from the air.
- Once a DAC Everywhere™ unit has removed a sufficient amount of CO₂ from the air, a Cintamani™ token is created.
- The amount of CO₂ removed from the air by each DAC Everywhere™ unit is easily verifiable by independent third-party experts.
- The creation of each Cintamani™ token is logged on the blockchain and becomes available for purchase from our digital exchange/marketplace.
- We plan to introduce our Cintamani™ tokens as a universal carbon credit token for all carbon credit producers on the planet.
how we generate carbon credits
Generating Quality Carbon Credits: A Feature of Our Carbon Exchange
What makes our carbon credits unique in quality is the ability to generate our own carbon credits through an additive process; our network will be removing tonnes of CO₂ from the air in addition to what nature is already capturing through photosynthesis.
Our technology will be removing additional amounts of carbon dioxide from the air in conjunction with what naturally occurs around the planet through existing carbon dioxide capturing organisms such as trees/forests and other naturally occurring "carbon sinks" such as the ocean. These biodiverse ecosystems are instrumental to the health of our planet, and they have created a baseline amount of CO₂ captured through Earth's natural carbon cycle; what the world really needs is an additive system that will be in addition to Earth's natural baseline rate of CO₂ capture.
The Canterhill Carbon Project is here to create that additive system of carbon dioxide capture that will exist alongside our planet's natural CO₂ removal process. Our carbon credits will be easily measurable and verifiable, and calculated based on the additional amount of CO₂ our system (our network of bioreactors) is removing from the air.
how Existing carbon exchanges are broken
The current system of trading carbon credits is broken.
The current state of carbon exchanges is fragmented, opaque, and subject to corruption. Some carbon credits have been counted more than once, essentially negating their value and their purpose in supposedly removing a specified amount of carbon from the air. It is also notoriously difficult to determine the amount of carbon a given activity removes from the air. For example, is the preservation of a forest adding a net surplus to our carbon removal efforts? Reforestation may add a net surplus, but how much? The answer depends on the types of trees, quality of soil, the density of the forest, etc. The maturity of the trees is also of paramount importance, as a mature tree can be far more effective at removing CO₂ than the recently planted trees of a reforestation project, and since it takes decades for trees to fully mature, the time required for a reforestation project is time we cannot afford to lose.
There are efforts around the world to preserve forests and mangroves, for example, but determining the amount of carbon credits any particular activity should be given is challenging and subject to errors in accounting, as well as corruption as certain stakeholders have a vested financial interest in the amount of credits their project yields. Examples abound as to how current carbon markets are in need of significant improvements.
Some companies, for example, are buying carbon credits, marketing their products and businesses as "carbon neutral", and then discovering that the carbon credits they spent millions of dollars on are essentially worthless.
The Great Cash-for-Carbon Hustle | The New Yorker
As reported in The Guardian, a recent analysis found that as much as 90% of rainforest carbon credits, in particular, may be "phantom credits" that do not represent any real carbon dioxide emissions reductions.
Not only are some of these carbon credits essentially meaningless, some may actually worsen the climate crisis if they are used for offsetting, as they do not represent any real emissions reductions at all.
Clearly, the world needs a carbon credit marketplace that is transparent, one in which each transaction is easily measurable and verifiable, where each carbon credit is used only once, and the accounting of each transaction is standardized.
Through our network of bioreactors, we will be generating a steady supply of our own high quality carbon credits which will be easily verifiable, quantifiable and transparent by design.
why our carbon exchange is different
What We are Doing
- We are answering the call to create a global carbon credit marketplace as outlined in Article 6 of the Paris Agreement.
- We are creating a global carbon credit marketplace from the ground up using a proprietary blockchain by creating carbon credit tokens that are tradable, but at the same time guarantee that they are one time use only. It is simple to use and easy to understand.
- The one time use feature of our tokens ensure that same amount of CO₂ removed from the atmosphere cannot be resold once redeemed as a carbon credit. This prevents the double counting of carbon credits which can negatively affect our global efforts to reach net zero.
- Utilizing blockchain technology, our exchange will use a decentralized network that will be more protected from hacking, with data that will be accurate and secure, and each transaction logged into the blockchain that will be stored in perpetuity, for easy and accurate audits.
- By using a proprietary blockchain, we can minimize network traffic and the high transaction fees associated with the use of public blockchains, such as Ethereum and other blockchains based on the Ethereum network.
What They are Doing
- The competition is spending millions of dollars buying carbon credits to create their version of a carbon credit marketplace (while we’re able to generate our own carbon credits).
- They are often sourcing projects that use unreliable data in calculating carbon credits, such as rainforest credits, many of which have been found to be meaningless in the global quest to reach net zero.
- The projects they are sourcing are often already a part of Earth's natural carbon cycle, such as existing forests which act as carbon sinks in Earth's natural carbon cycle. Our project, on the other hand, is additive to the CO₂ removed by nature in its natural carbon cycle. We are removing additional CO₂ from the air that otherwise would not have been removed without our network of bioreactors in place.
- They have no irrefutable and easy to understand mechanism in place that 100% guarantees the carbon credit they sell can only be used once as a carbon offset. This is a challenge that existing carbon markets are facing, causing additional difficulties in determining our current progress in the global quest to reach net zero.
why what we are doing is better
Tradable One-time Use Tokens
- What we are doing is better because we are not spending millions to buy carbon credits.
- We are instead creating our own carbon credits by removing vast amounts of CO₂ globally using our DAC Everywhere™ technology.
- Our Carbon Credit tokens will be called Cintamani™ tokens. These tokens will be generated on our DAC Everywhere™ units connected to our proprietary blockchain using a variation of the Proof of Work concept used in second generation cryptocurrency technology.
- We are using a proprietary blockchain for our global carbon exchange. The decentralized nature of our blockchain increases the security of our network exponentially, decreasing the likelihood of hacking, and allowing for the storage of data in perpetuity.
- We generate tokens that are based on the highest quality of carbon credits (not all carbon credits are created equal and can vary in price depending on quality). High quality credits are based on accuracy of data that is verifiable and measurable.
- Solving the conundrum of creating digital tokens that are tradable and simultaneously ensure one time use is a game changer. This gives us the integrity that guarantees our carbon credit tokens cannot be resold or traded after they are redeemed as a carbon offset.
- To create a truly global carbon credit marketplace, we plan to invite other carbon credit producers that can provide verifiable and measurable data to join our exchange by offering them our carbon credit tokens that are equivalent in value to an independently verified amount of CO₂ they have removed from the atmosphere. Our tokens will be given to them free of charge and they get to keep proceeds from the sale of these tokens on our digital exchange. There will be a minimal exchange trading fee of 3% charged (subject to change) for each transaction.
