Carbon Credit Technology is a climate tech company that aims to unlock access to the world’s most significant carbon markets via blockchain technology. Our token CCT is the first cryptocurrency backed by EU Allowance (EUAs), the world’s largest carbon market.
I started to work on this project in 2021. In less than one year’s time, we have launched our first token and listed on two global crypto exchanges. In July, we joined the WEF crypto sustainability coalition to work with 70+ organizations to shape the future of crypto sustainability.
How did you come up with the idea for the company?
I fly often due to work, and I also love traveling. Meanwhile, I care a lot about our environment. I know I can’t stop traveling but I also want to make my own contribution toward carbon neutrality. So I started to look into my options.
The EU has the biggest regulated carbon allowance market. I want to buy some of these carbon allowances, at least I can feel slightly better when flying. However, I soon found out how difficult it is to access this market as an individual. So I thought, can I build a simple product that allows everyone to gain exposure to regulated carbon allowance?
I started to talk to some trusted friends and was lucky enough to find a team who shares similar values to work on it.
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How are you enabling access to the Carbon Credit Market?
One way blockchain can broaden access is by creating tokens on the basis of real-world carbon credits. The European Carbon Allowance market, for example, is really difficult for everyday businesses or individuals to access.
We purchase EUAs and release CCT Tokens based on the ratio that 1 EUA = 1000 CCT. Via trading and holding CCT, you influence how some of the world’s largest polluters do business. Tokens such as CCT help everyone to gain exposure to the carbon market.
What do you think makes CC Technology unique?
Most Web3 Climate projects focus on the voluntary carbon market. CCT started with the compliance market with the voluntary market on the roadmap. We are the only project that can provide exposure to both compliance and voluntary market via a simple product approach.
From an impact perspective, our token CCT is the only crypto that allows you to have an impact on the world’s first and largest carbon market.
What can we hope to see from Carbon Credit Technology in the future?
While we continue to drive the adoption of our first token CCT, we are also working on the development of our second token CCV, a stablecoin backed by verified voluntary carbon credit. Also in development is a social game – an educational game that helps our community gain sustainability knowledge.