Carbon Credit Registration
Credit Acquisition
Xofia purchases carbon credits from the voluntary market, selecting projects that meet its sustainability criteria and carbon footprint mitigation objectives.
Credit Registration in Spinebone®
Once acquired, the details of the carbon credits are recorded on the Spinebone® platform. This includes the amount of CO2 tons, the corresponding certification, the acquisition date, and the project of origin.
Project Classification
The projects from which carbon credits are purchased are classified according to criteria such as environmental impact, social relevance, geographical location, certifying entity, year (vintage), and type of project (reforestation, renewable energy, etc.).
Tokenization of Carbon Credits Using Blockchain
Each registered carbon credit is fractionalized and tokenized on a blockchain platform, creating digital units that represent a specific portion of the original credit.
This tokenization facilitates the traceability, security, and ease of transaction of carbon credits on the platform.
Xofia chose Hedera as its blockchain platform due to its unparalleled efficiency, security, and sustainability. Hedera stands out in the blockchain world for its distributed ledger structure, the hashgraph, which allows for faster, more secure transactions and data management at a fraction of the energy cost compared to traditional blockchain technologies.
This choice underscores Xofia's commitment to environmental sustainability by relying on technology that minimizes the carbon footprint of its digital operations.
Moreover, Hedera offers a specific framework for the creation and management of carbon tokens and other sustainability instruments, providing the necessary transparency and traceability for carbon footprint mitigation projects.
Generation of Micro-Transactions Involving the End Consumer
When making purchases or transactions on Xofia's B2B clients' platforms, end consumers have the option to contribute to carbon footprint mitigation by adding a portion of carbon credit to their purchase.
This micro-transaction is recorded in Spinebone®, associating the consumer's contribution with the specific CO2 reduction and the corresponding sustainability project.
Retirement of Carbon Credits and Blockchain Notification to the End User
Once one or more tokens are applied to a specific transaction, the associated credits are "retired" from circulation, ensuring they cannot be sold or used again.
The end user receives a notification, typically through the B2B client's application or platform (e.g., Email, Web App, Push, etc.), confirming their contribution and providing details about the generated impact.
Permanent Verification of Each Carbon Credit and Associated Tokens by Xofia and the Client
Both Xofia and its B2B clients (and by extension the end consumers) can verify in real-time the status, impact, and traceability of the carbon credits and tokens associated through the Spinebone® platform.
This ensures total transparency and allows companies and consumers to verify the positive impact of their actions in carbon footprint mitigation.
Each of these steps reflects Xofia's commitment to transparency, sustainability, and technological innovation, enabling participation from companies and consumers in the fight against climate change.
