Carbon emission information is siloed, non-verified and non-standardized. The goal is to reduce environmental impacts and carbon footprint, and increase progress towards global and corporate carbon emission goals while helping struggling farmers with FARMERNET.
Blockchain Social Impact Solution
- Changing the ways of old by disrupting the entire framework of how we manage our carbon emission information.
- Enables stakeholders to track, trace, match and manage their clean energy footprint while simplifying data-driven attestation of sustainability goals and mandates.
- Proof and immutability for the real world impact of carbon emission generation and consumption - allows companies to stand behind their claims of carbon reductions, sustainability, and renewable energy to prevent greenwashing using the immutable ledger to track environmental assets and liabilities.
- Farmernet’s smart contract’s logic and data trigger are viewable on the blockchain by all stakeholders, leading to transparency and independent verification of all outcomes.
- Tamperproof execution and data delivery to carbon emission, to avoid double-counting resulting in producers and consumers being able to trust that they will get the land based on accurate data metrics.
Non Fungible Tokens NFTs
Non fungible tokens: Dynamic and changes based on real world data metrics land-based carbon emission NFT on the Rinkeby Chain:
- ERC721 tokens
- Metadata provides descriptive information for a tokenId that is stored off-chain
- This will create a land NFT with 4 attributes:
- uint256 longitude coordinate;
- uint256 latitude coordinate;
- uint256 carbon sequestered per land;
- string name of land NFT;
- Each tokenId has a specific tokenURI that defines this API call, which returns a JSON object that looks something like this
- Assign tokenIds to their tokenURI, NFT marketplaces will be able to display your token -Image is using a URL that points to IPFS InterPlanetary File System -Every time the image is updated, the on-chain hash/tokenURI also has to change, meaning that we can have a record of the history of the metadata
- OpenSea NFT marketplace
How it works
- Build a verifiably dynamic land-based aerial image using Chainlink
- Assignment of statistics and resources - name and attributes from your deployed token
- Rinkeby Testnet ETH and Rinkeby Testnet LINK
- Add a tokenURI using IPFS - makes it easier to store things like images since we don't have to waste the gas of adding them on-chain.
- Store images in peer-to-peer file storage system IPFS and pin the data with Pinata for when IPFS node is down
- Deployed dynamic NFT to the OpenSea marketplace - Allows users to smoothly buy and sell NFTs, get custom stats and analytics, and earn revenue when items get traded.
- Include other protocols not just Rinksy testnet – like mainnet
- Building a user-friendly front-end for farmers to interact with with UI UX design
- Integrating with blockchain Metamask wallet payments
- Proving who owns what at what time – Solana
- Gas-efficient code - check ETH demand on the network and use Layer-2 networks - Matic
- Better encryption
- Defi payment options Aave, O(1) Labs, or Compound