Tuesday, November 8, 2022

Carbon Opportunity Fund presentation at COP27 on November 17th

I am stoked about the upcoming Carbon Opportunity Fund event on the 17th. Watch Live November 14th 16:00 EET (Eastern European Time) 9am Eastern US time, and 6am Pacific Time. I expect they will be discussion their plan and hopefully moving forward with this project.

The goal of the COF is to catalyze investments in the voluntary carbon markets and broaden access to finance for nature-based projects certified by leading international standards bodies. To do so, they are creating a CAT for trading carbon credits. Presumably, a business that utilizes this CAT to offset their emissions will need to burn the token for the credit to really count. The demand for these credits will hopefully be able to fund these nature-based projects on an ongoing basis. Much like mining crypto; as the price of the credits increase, there will be increasing market pressure to expand the nature projects. As the world moves to counter climate change, there will be more interest in the carbon credits and this will hopefully work to counteract the 40% of emissions that they claim as a goal. And chia uses less than 0.2% the energy of bitcoin.

Will this have much impact on the chia network? This is the big question, and may be a very big test of the network. This needs to be a smooth process for the people who are creating and using these credits. Will they be using XCH for purchasing the credits? Are these going to be traded as offers on chain, or will they just be arranged and paid for in fiat offline? What kind of volume will this create on chain?

Assuming this creates a notable increase in volume, we should see the decrease of dust storms as transactions require fees. Of course, this will mean the network will start pumping transactions through at max capacity. Most likely, this will be a small blip in the transactions per day. Here's hoping that it goes smoothly and helps fund some reforestation, restoration of the wetlands, and general environmental improvements.


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