Calculate and offset your carbon footprint easily
What did we build ?
Uchains is a marketplace that helps companies to track the carbon footprint of their products and services and neutralize their CO2 emissions by purchasing carbon credits using its own ERC2O token on CELO, named cCHAIN.
Our solution is based on 2 main pillars : A solution that we are developing to trace the carbon footprint of your products and services An easy way to offset CO2 emissions with carbon credits. We will look for associations or companies that can sell carbon credits thanks to their action in favor of the ecology. We will then create a marketplace to easily buy and sell these carbon credits, using the blockchain to monetize them. The payment will be in CELO stable coins
Why did you build it?
We builded this solution for two main reasons: The first one is that we realized that companies struggle to calculate and offset their carbon footprint throughout the supply chain. Indeed, less than 20% of companies have a comprehensive view of their supply chains’ sustainability performance (according to a recent survey by The Sustainability Consortium (TSC) that received on 1,700 respondents, McKinsey Sustainability 2016) The second reason, the majority of greenhouse gas emissions for the consumer goods companies are in the supply chain. Indeed, according to a McKinsey report, more than 80% of greenhouse-gas (GHG) emissions in most consumer-goods categories are in supply chains
How does it work (tech-stack)?
So it’s using a CELO ERC20 token called cCHAIN, backed by carbon credits and that allows certified issuance, transfer and retirement. The process is the following : The supplier purchase carbon credit for the CO2 he captured by a Climate Impact Project. An auditor company like VERRA will control that this number is correct and upload a certificate using IPFS deltails like PINATA Uchains use a smart contract to call depositCarbonCreditsFromCertificate function on the carbon credit ERC20 token with the value of the certificate received. The supplier have the certificate in his CELO Address and everybody can see it. The company buying credit carbon will buy the eqCO2 in cCHAIN TOKEN The supplier transfer the carbon credit to the buyer in cCHAIN TOKEN Uchains will provide a certification to attest that the company have bought the amount and in the same time, this amount is deleted from the marketplace to avoid double spending
What did you learn?
We learned so many topics during this Hackathon and met with amazing people. Among them : We learned what the incredible Celo DeFi ecosystem is and how it works We learned about the challenges of calculating and offsetting carbon for companies We discovered how DeFi can have great social impacts for example for unbanked people or to make a loan to someone who could not have access before only with a phone
What are the next steps?
By April 2022 we would like to: Develop our carbon footprint traceability solution for the supply chain Publish content on blockchain, carbon neutrality and environmental impact By June 2022 we would like to : to have found green projects that we can integrate into our marketplace have finished developing our marketplace for buying and selling carbon credits In July 2022 we will find our first clients In september 2022 we will communicate a lot about our solution to find and retain more customers
The strengths of our project in each of the six judging criteria
Our project takes into account the 6 main criteria of judgment
Social impact Our goal is to help companies becoming carbon-neutral.
Creativity Our project provides both a carbon tracking solution and the ability to purchase carbon credits using blockchain with CELO blockchain.
Technical level Uchains uses an ERC20 on CELO called cCHAIN, backed by carbon credits and that allows certified issuance, transfer and retirement.
DeFi Integration The benefits of DeFI can be leveraged with the cCHAIN token.
Stablecoins We buy the cUSD stable coin of CELO to have our cCHAIN token.
Design for Mobile Our solution will also be available on mobile to let anyone buying easily token from its mobile phone and use the phone number mapping functionality.
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