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Our use of blockchain technology ensures transparent carbon credit issuances

Kiribex publishes all relevant data used in supporting  the issuance of its tradable carbon credits in NFTs (non-fungible tokens) issued on blockchain (specifically, the Ethereum blockchain) to guarantee transparent carbon credit issuances. 

The need for transparent carbon credits

Knowledge that carbon credits are actually what they claim to be enhances their value.  Armed with this knowledge, carbon credit buyers can be confident (vs. hope) that when they purchase a credit claiming to represents 1 ton of CO2 removed or used, they actually got what they paid for. Transparency in how those carbon credits were issued is highly critical in supporting this knowledge.

Transparent carbon credit issuances require public data

The NFT proof files created by Kiribex contain key facts such as the identity of the company receiving carbon credits, the type of technology and/or processes they used, the type of data submitted for validation, the identity of the company validating the submitted information, and other pertinent information.  Once issued on the blockchain, this data is immutable (any change to the NFTs will also be evidenced on the blockchain) and publicly available; thus, any person with access to the internet can themselves confirm that those credits were issued by Kiribex and those credits do actually represent what is being purchased.

Furthermore, at all times, the total amount of credits in existence will always exactly equal the amount of credits backed by data in the NFTs.  This makes it easy to 1) audit the data that was used and ensure that Kiribex is always on the cutting edge, and 2) ensure that Kiribex never issues credits that aren’t backed by real-world actions – this would be immediately evident if those numbers don’t match.

Introducing KiST

Kiribex is launching a new carbon credit standard focused exclusively on measurable and verifiable carbon storage.

Click here to find out more.

Kiribex credits are fungible

Kiribex is using a proprietary issuance system and business rules to provide fungibility to its issued and traded products.

Click here to find out more.

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