The consequences of global warming have rapidly emerged during the last century in the form of rising ocean levels, reduced agricultural yields, and rapidly elevating carbon dioxide levels. According to the International Energy Agency, total greenhouse gas emissions reached 40.8 Gt of CO2 equivalent in 2021. Global emissions of carbon dioxide constantly increase each year, which ultimately leads to an increase in the world’s temperature. According to the United Nations Environment Programme, to keep temperature increase within 2 degrees by 2100, emissions must fall by 25% before 2030. At present, the carbon offset market proves to be an efficient solution aimed at reducing emissions as quickly as possible and driving positive climate change.
That is why we’re developing YOROCOIN – a blockchain-based platform that helps each individual and business offset their carbon footprint in an easy and secure way. Our goal is to provide everyone with the opportunity to help the environment and make a positive change. With our platform, users can acquire carbon credits while doing their regular shopping. Alternatively, they can simply purchase them on the platform.
We tokenize carbon credits so users receive them in the form of NFTs. The NFTs are further displayed in a decentralized ledger that can be tracked by users, thus ensuring transparency and traceability. When the user retires carbon credits, burned NFTs are sent to a null address, ultimately eliminating their NFTs from circulation. The blockchain records this transaction and the NFT is no longer available. As all transactions between platform participants are recorded on a distributed ledger, they are almost impossible to tamper with, which helps us avoid fraud and double counting. Moreover, when users retire their carbon credits, they receive unique NFTs created by artists. The users can trade these NFTs on the marketplace.
Overall, YOROCOIN connects users with hundreds of impactful environmentalprojects around the world with the purpose to reduce carbon emissions and help our planet. YOROCOIN also engages thousands of the largest retail brands that allocate a specific percentage of sale margin for environmental projects. It is accumulated in users’ accounts in the form of YRC tokens. The users accumulate these tokens till they reach the necessary amount of the carbon credit of their choice. As a result, users can continue with their normal shopping while helping the planet.
