Carbon Credit Architecture

A system for Carbon Credit accessibility

Viridis Workflow: A Deep Dive

Viridis is engineered with a lucid and robust workflow that emphasizes transparency in the digitization of carbon credits, while also promoting ease of adoption in real-world carbon offset initiatives. Here's a step-by-step breakdown of how it all comes together:

1. Verification and Classification of Carbon Credits By External Authority

An authorised third-party certification authority verifies and categorises the authenticity of the carbon offset. Classification is important since a "universal carbon credit system" neglects to take into account the distinction between different carbon credit sources. For example, using biomass, which prevents burning forest wood for five years, is definitively different to reforesting a piece of land in order to claim credit for future carbon capture. Carbon credits each have an origin, hence Viridis differentiates between them in order to create a transparent network.

2. Signing Of The Carbon Credits On Chain As An NFT

After the real-world provider has been verified, carbon credits can be spent and converted into digital wCRBN NFTs on the Viridis Network. These wCRBN NFTs are distinguishable by the inclusion of on-chain credentials within their metadata, yet can be fractionized and traded among users on the Viridis chain.

3. The Minting of bCRBN Certificate NFT

Once a user has acquired wCRBN NFTs, they have the opportunity to mint a quantity specific bCRBN certificate NFT. This can be displayed publicly by any organization, representing their involvement in moving towards carbon neutrality. Unlike the wCRBN NFTs, the bCRBN NFTs are indivisible and untradable.

Truth Table Framework

The Truth Table is a public ledger of EOAs, or wallet addresses, where each address translates to a certified authority, supplier, or model participant. This implies that signatures made by these wallets on-chain (approving the metadata for the issuance of additional carbon credits, for instance) can be linked to the actual entity that granted the authorization, paving the way for the creation of a publicly auditable on-chain timeline.

This list is maintained by the Viridis organization, but can be supported by organizations publicly stating these addresses on their official media. The introduction of the Truth Table is part of a broader re-architecting of the Viridis Protocol to remove the need for the Viridis team to authorize offsets, and instead let the validity of offsets speak for themselves based on the verified organizations that back them.