Since the industrial revolution, global greenhouse gas has sparked a 1℃ increase in global temperatures. In efforts to mitigate the sheer amount of pollution emitted into the air each day, global agreements have implemented a cap and trade system whereby pollution is mitigated by providing economic incentives for reducing emissions. While there are several certification stands that attempt to create a baseline from which true carbon reductions can be measured, verification is lacking. As a result, many issues arise with the trading scheme, an example being that some organizations have bought credits that have not resulted in reductions and numerous other issues. Most critically, countries around the world lack economic incentive as the guidelines are voluntary and polluters cannot be tracked down to specific entities. An integrated, secure and worldwide trading system needs to be implemented.
What it does
This is where CarbonEX comes in. The website provides buyers and sellers with a faster, safer, and easier way to conduct business and ensures that carbon credits are traded securely and efficiently. Companies can anonymously post the number of carbon credits they have and other companies can trade with them upon contact by viewing the available carbon credit assets on the CarbonEX Trade page.
How we built it
Challenges we ran into
It was a challenge for us to integrate frontend and backend as it was new for many of us.
Accomplishments that we are proud of
We are proud of making a full-stack website!
What we learned
We learned full-stack web development which included aspects like how to integrate front-end and back-end. We learned about Firebase and Firestore in terms of how they work and are used. Finally, we learned how to work as a team an apply all of our strengths to make our best product, and how to debug issues and errors.
What's next for CarbonEX
We are considering using blockchain in order to add the decentralized aspect to transactions. We plan on implementing an incentivized donation system whereby users can click on areas of the world at risk of high levels of Air Quality Index and donate to local charities in the region. We also aim at setting up a domain as it is currently only local on our computers.