Buy Toucan Protocol: Base Carbon Tonne (BCT)

What is Base Carbon Tonne?

Base Carbon Tonne (BCT) is a reference token that represents one tonne of carbon from the Verra Verified Carbon Unit (VCU) registry, dated from 2008 or later, facilitated by the Toucan Protocol. The primary aim of BCT is to enhance transparency and accountability in carbon offsetting by employing smart contracts on the Ethereum blockchain.

How does Base Carbon Tonne work?

BCT functions by tokenizing carbon credits, offering a digital means for organisations and individuals to manage and offset their carbon emissions. The Toucan Protocol collects emission data, verifies it, and converts it into carbon credits, which are then tokenized on the Ethereum blockchain. This process allows BCT tokens to act as a measure for carbon credits, enabling their trading and utilisation to offset emissions.

What are the potential use cases for Base Carbon Tonne?

1. Supply Chain Management: BCT can be utilised to track and verify carbon offsets within supply chains, promoting sustainability and transparency.
2. Renewable Energy Projects: It supports tokenization of carbon credits from global renewable energy projects, aiding in offset initiatives.
3. Corporate Carbon Offsetting: Companies can use BCT for transparent carbon offsets by purchasing and retiring credits.
4. DeFi and Web3 Applications: BCT can be integrated into Decentralized Finance (DeFi) platforms, facilitating the trading and management of carbon credits.
5. Notable Partnerships: Collaborations, such as those with Celo Foundation and KlimaDAO, enhance BCT’s reach and application in climate action and blockchain integration.

What is the history of Base Carbon Tonne?

Base Carbon Tonne’s history begins with the Toucan Protocol, developed to utilise blockchain technology for more efficient and transparent carbon credit trading. The concept was initiated by a team with expertise in environmental, financial, and tech sectors, aimed at bridging digital solutions and conservation efforts. Significant milestones include the tokenization of carbon credits, strategic partnerships, and integration into the Ethereum blockchain. BCT has evolved through technological advancements and market expansions, driven by a commitment to transparency and traceability in carbon markets.