Our proprietary algorithms and business processes are designed to create fungible carbon credits
Kiribex’s patent-pending issuance system ensures that we create only fungible carbon credits. We strive to create a level playing field for all technologies and locations around the globe. We accomplish this feat using algorithmic analysis of every carbon credit submission and strict requirements for third party validation on all requests of significant size. These, accompanied by best-practice fraud prevention and anti-money laundering techniques, ensure we can support and help monetize a very diverse set of carbon credit producers while maintaining fairness and encouraging innovation for all participants.
The data from each issuance is kept separate from the carbon credit
Our system severs the issuance information/data from the issued token by first creating an NFT (non-fungible token) containing all relevant data for the submission and then sending a matching amount of carbon credit tokens
Each of our fungible carbon credit classes share grouped pools of data
Every token issuing event contributes its issuance data to and shares the issuance data of every other issuing event of the same designation (for example KiST tokens) to form the combined/shared basis for all tokens within that designation
We preserve fungibility via open-market transactions
The marketplace does not allow users to discern buyer or seller identities, thereby inhibiting any tracing attempts; instead it allows open market transactions and spot trading on a globally available blockchain-powered platform
This process achieves and maintains fungibility for any carbon credit
If the carbon credits standards are high enough, fungibility is preferred; high-quality fungible carbon credits should be traded globally (and used to directly offset emissions) without the need or wish to discern specific project or seller identities
Kiribex is launching a new carbon credit standard, focused exclusively on measurable and verifiable carbon storage.
Click here to find out more.
Transparency from blockchain
Kiribex is using blockchain technology to ensure that it delivers the most transparent carbon credit issuances.
Click here to find out more.
COP27: Talks on carbon market rules off to slow start
Voluntary carbon offset markets have struggled to gain trust for years. Campaigners have criticized offsets as a figleaf for polluters.
The CFTC Should Raise Standards and Mitigate Fraud in the Carbon Offsets Market
If a carbon offset cannot guarantee it is worth 1 ton of carbon not in the atmosphere, then its use to meet goals should be discouraged.
Carbon offsets used by major airlines based on flawed system, warn experts
Guardian investigation finds that carbon credits generated by forest protection schemes are based on a flawed system.