Applications of blockchain technology in carbon trading

doi:10.3969/j.issn.2097-0706.2022.03.004

Abstract

Abstract:

At present,carbon emissions trading mainly relies on a centralized system to manage the transactions.Due to the lack of transparent trading information and excessive administrative intervention,the carbon emissions trading market is inactive.In order to boost the vitality of carbon market and advance the realization of carbon peaking and carbon neutrality in China,a carbon emissions trading framework based on a two-level hybrid blockchain network is built. Firstly, the development status and relevant policies of China’s carbon market are introduced,and the existing problems in the market are summarized.Then,the carbon trading mechanism is expounded. Finally,a carbon emission trading framework based on blockchain technology is proposed to solve the problems.The framework consists of public blockchain and consortium blockchain.Carbon allowances are allocated in public blockchain,which is transparent and traceable.Only carbon emissions data can be shared in consortium blockchain to protect the private data of enterprises.In addition,the framework can transit information between public blockchain and consortium blockchain based on Polkadot protocol.The carbon emissions trading framework can reduce the system operation cost,and improve the trading efficiency and information transparency,which provides a reference for accelerating the marketization of carbon trading.

Key words: carbon peaking, carbon neutrality, carbon trading, hybrid blockchain network, public blockchain, consortium blockchain, Polkadot protocol

CLC Number:

TK01⁺8：TM732

HE Qingsu, HAN Qingzhi, LIU Zhiyuan, ZHANG Zhaoshi. Applications of blockchain technology in carbon trading[J]. Integrated Intelligent Energy, 2022, 44(3): 23-28.

Figures/Tables 1

References 21

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