Carb0n.fi - We believe in tokenization and decentralisation in the carbon markets

Carb0n.fi – We believe in tokenization and decentralisation in the carbon markets

Climate change is real, and it is happening at a pace far beyond our ability to comprehend its true impact. In terms of mortality cost, one human will die for each additional 4,000 tons of CO2 emitted in the atmosphere (according to a study from The Guardian).

When most people think of cryptocurrencies and blockchain technology, they will naturally think of the super computers and mining farms that are powering Bitcoin, consuming enormous amounts of electricity therefore generating large amounts of carbon emissions. What if we told you that there is a blockchain company that aims to change the status quo, and take a stand in fighting climate change? 

Introducing Carb0n.fi: a Singapore-based startup using blockchain technology to create a better incentives system in carbon-trading markets. We are building a platform allowing you to put your crypto-assets to work and get rewarded with carbon offset NFTs and our native $ZRO token – that means when you deposit your crypto-assets in Carb0n.fi, you’re empowered to counterbalance the carbon emissions that you create, allowing us to move toward a greener future (simply put, you can farm Carbon Offset NFTs on our platform).

The journey began a year ago at Antler’s Venture Builder Program in Singapore, where Bree and Florian met. The two identified a huge market opportunity to provide individuals and companies with a modern solution to the ever growing issue of climate change. With the UN Sustainable Development Goals in mind, Carb0n.fi was born. Together with Xenon, Carb0n.fi’s ultimate motivation is to not only fight climate change, but to also empower the masses to take their future into their own hands and create a better world that our children will one day inherit.

Our vision is broad and long-lasting, spanning many years into the future. We are starting with a specific go-to-market strategy knowing that our long-term goals are much wider. The markets related to carbon offsets and carbon trading are still in their infancy, with much growth poised to happen in the coming decade, especially in the South-East Asian region. The global carbon offset market is expected to achieve USD 180 Billions by 2030 according to Trove Research. In addition to that, the Global NFT market will be worth $3.5tr in 2030 as well.

We ultimately aim to leverage DeFi 2.0 to right some of the current wrongs in the carbon markets, including their inefficiencies, lack of transparency and high barriers to entry for some players. The current incentivisation method in environmental sustainability is upside-down – people and companies who are choosing to balance Purpose, Profit and Planet by investing in climate-positive projects are bearing the financial burden of doing so.While corporations and individuals act in their own interest, they can help solve global environmental problems at the same time. To build such an ecosystem in a sustainable manner, the number of participants should be large enough to create a network effect, which will make the utility of each participant higher than the cost of participating in the ecosystem. 

These companies should be receiving tangible, financial returns on their investment into the Planet as good actors for the environment. Yet traditional models of assessing financial returns lack the framework to ably capture and translate the value (or in some cases, the cost) of environmental impact by human behaviour as it requires cross-disciplinary expertise across science and technology

At Carbon.fi, we are committed to putting our experience to good use and bring everyone a solution that is seamless, transparent and scalable. Carb0n.fi is built by a team of passionate individuals with relevant experience in key fields such as blockchain technology, marketing and community building, as well as corporate social responsibility.

Now, you may be wondering: why blockchain? We believe the fundamentals of blockchain technology will play a key part in managing and reducing global carbon emissions. Blockchain technology provides an accountability platform for every organisation globally (such as manufacturers, distributors, amongst others), to collaborate with a higher level of transparency. Each partner on the blockchain network will be able to report carbon emissions throughout their own value chains using defined metrics, giving rise to an integrated platform for carbon monitoring. Blockchain technology provides a consistent and approved algorithm to keep track of carbon emissions, resulting in broader and more fervent support for environmental efforts across the board.

The four key architectural components of blockchain technology that will improve accuracy and credibility when calculating carbon emissions

  1. Transparency: blockchain technology is essentially defined as a system for recording information in a way that makes it difficult/impossible to change or hack. It is known as a “digital ledger of transactions” that is distributed across a network of computer systems (nodes) that exist on the given blockchain. We think of it as a sort of decentralised digital “library”; whereby previously centralised decision-making (such as from an organisation, government or other entity) is transferred and distributed across the network, leading to greater transparency. In our use case, our solution will provide greater visibility across the carbon trading market, an industry at high-risk of error-ridden data (partly because of the lack of standardisation or consensus).
  2. Accuracy: blockchain algorithms and rigorous cryptography will mean that transactions on the blockchain network are highly accurate and homogenous. Since multiple nodes on the network are compared in real-time, an inaccurate or unverified entry will be flagged promptly, immediately removing inaccuracies across the network. We are making the process of trading carbon tokens highly accurate and embedding international standards within the system.
  3. Speed: accessing records on the blockchain is much faster and more efficient compared with traditional methods. As well as the network working in a streamline process as detailed above, companies, individuals and other stakeholders will also be able to access detailed, accurate and full records of transactions in record time. We believe this will increase engagement and participation in carbon offsets on a global scale, within small and large organisations.
  4. Trust: blockchain technology enables high traceability. When a user performs any activity on the blockchain, the network will go through a rigorous security process (through cryptographic and algorithmic technologies), updating the entire network in the process and ensuring the validity of the transaction. The current carbon market is highly heterogeneous and dispersed, lowering trust and standards in the industry. Without trust, there exists no real accountability, and therefore a question mark on the real-world impact of carbon offsetting activity.

We believe that tokenization and decentralisation in the carbon markets are key in overcoming existing structural deficiencies and the fundamental lack of transparency in the industry as a whole. Moreover, we believe bridging blockchain with sustainability will alleviate some of the fear, uncertainty and doubt that has plagued the industry over the past few years, with many comments in the media highlighting the negative environmental impact of protocols such as Bitcoin and other proof-of-work systems.

Sustainability, such as energy management, environmental protection, and climate change mitigation, is frequently mentioned as an area where blockchain technology can be applied. By doing so, accurate and transparent incentives can be offered to corporations or individuals, inducing them to voluntarily participate in activities that produce and consume energy more effectively and protect the environment.

That is why Carb0n.fi is excited to be playing a key role in the evolution of carbon offsetting by creating a transparent and decentralised carbon trading market, where organisations and individuals have an equal opportunity to participate in environmental rescue. Through a range of differently sized projects, users in our ecosystem can be incentivised with tangible returns while reducing their carbon footprint via our solution built upon DeFi 2.0, which aims to balance yield and efficiency.

Ultimately, we want to propose a robust, scalable Carbon Offset NFT (cNFT) exchange where individuals and companies can purchase carbon offset NFTs transparently and easily. Below is a lo-fi mockup of our Carbon Offset NFT (cNFT) exchange:

When it comes to opportunities for our project to grow, we here at Carb0n.fi truly believe that there are massive opportunities ahead. In particular, we believe that Southeast Asia is a relatively untapped space when it comes to carbon offsetting at a large scale, and it holds a lot of promise in terms of its ability to fight climate change. We aim to build a win-win-win solution for maintaining our collective responsibility towards reversing the climate catastrophe over the long-term based on this technological spine. People and organisations are known to act in their own self-interest, and we believe that there is a mutually inclusive bridge between intrinsic behaviour and saving the climate. As our ecosystem grows, our real-world transition will be effected through integration with EU, UK, US and other centralised exchanges to create opportunities for our users to benefit from carbon arbitrage.

Although there are many challenges in the industry, especially with the many variables that come with working in the blockchain space, our main challenge is currently aiming to keep up with demand. Our community is incredibly excited and looking forward to the release of our platform, which will be launching in June 2022. It takes a well experienced team distributed across the world to be able to answer all the questions they have. Thankfully we have a great team and partners as well as suppliers that aid us in doing just that!

In conclusion, for us here at Carb0n.fi, we are passionate experts who strive to make a change and a difference to the world, by committing our careers to leverage technology to build environmental solutions. We want to build a legacy and a method for others to build theirs too – because it is our children that will inherit this earth from us. 

Our Chief Executive Officer Bree-Ann Yek started out trading bunker fuel before pivoting to launching startups aimed at recycling plastics. She has 8 years of commodities trading experience, 5 years of legal experience, and 11 years of experience as an environmental volunteer. She is heavily involved in South-East Asian sustainable growth communities and projects.

Our Chief Marketing Officer Florian Bohnert has spent the past 15 years building purpose-driven, environmental & social projects, as founder, advisor, mentor, and investor. Florian previously held the CMO role at Cardano’s commercial & venture arm, overseeing Digital Marketing and Public Relations. Cardano is one of top 5 blockchain protocols, and the first one to evolve out of a scientific, peer-reviewed philosophy, with a vision to bank the unbanked. It is built by hundreds of the world’s best researchers, PhDs, and industry experts to provide a decentralised infrastructure to billions of people. He is also super active on Twitter!

Our Chief Technology Officer Xenon has been in the blockchain space since before DeFi became popular. He has experience optimising yields and working on future use cases of DeFi. He has 6 years of experience as a full stack developer, and 3 years of experience as CTO and team leader.

We want to ensure that we are not only able to do everything in our power to make a change, but also to empower those around and across the world to do the same. If there is anyone that is looking for advice or help on starting a business, the team at Carb0n.fi is always happy to help. Ultimately, we believe that the most important thing about running a business is having grit and having the right people around you, both supporting and pushing you beyond your comfort zones. 

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Nutritionist. Bluffton University, MS In today's world, people's eating and exercise patterns have changed, and it is often lifestyle that is the cause of many diet-related illnesses. I believe that each of us is unique – what works for one does not help another. What is more, it can even be harmful. I am interested in food psychology, which studies a person's relationship with their body and food, explains our choices and desires for specific products, the difficulty of maintaining optimal body weight, as well as the influence of various internal and external factors on appetite. I'm also an avid vintage car collector, and currently, I'm working on my 1993 W124 Mercedes. You may have stumbled upon articles I have been featured in, for example, in Cosmopolitan, Elle, Grazia, Women's Health, The Guardian, and others.