Techathon 2

Challenge 4: Can you bring transparency in carbon credits?

Description

Carbon credit calculation today depends on manual data gathering and disclosure. The vetting process is also manual with a lack of transparency making it non-trustworthy. With blockchain based carbon credit calculation, vetting can be done in an immutable, transparent and automated manner with organizations, industry partners and vetting agencies working in a single source of blockchain ledger.

Expected output

The solution is expected to produce one or more of the below objectives:

• Configure and set up a network where multiple organizations, industry partners and vetting agencies can join and perform their data gathering transactions
• The participating industries should be able to record their day-to-day transactions and vetting agencies should be able to transparently review them
• The application should be capable calculating carbon credit in a parameterized and configurable manner
• Organizations should be able to use Blockchain smart contracts for generating carbon credit certificates
• Organizations should be able to share their certificates with other organizations through the blockchain to fulfil their carbon credit requirements
• The platform should be able to integrate with core systems across various entities for building the blockchain ecosystem
• Vetting agencies should be able to view of the carbon transactions and carbon credit certificates possessed by each organization
• Each organization should be able to view the carbon transactions and certificates for themselves
• The solution should maintain privacy in the system with proper access control mechanisms

Technology and tools

Any blockchain opensource software/ platform can be used with participants clearly articulating the reason for the choice. The application portal for data input and certificate generation can be done in any open source technology (Angular, .Net, Java, Javascript, etc.). The application should be hosted in any cloud platform of choice for the demonstration.

Judging criteria

A scoring model basis:

• Completeness of the concept
• Clarity on the Blockchain concepts used
• Design quality
• Number of outputs available in the prototype
• Quality of the build
• Value added output in the concept