MOSS is currently the world’s leading carbon credit platform in the world. With Ethereum’s blockchain’s help, the project has successfully turned an analog and inaccessible market into a digital market that welcomes anyone. The environmental platform has traded over 900,000 tons worth of carbon credits, equal to roughly $25 million.
What is MOSS Carbon Credit (MCO2)?
MCO2 is a CertiK- and Perkins Coie-audited project. EY And Armanino are also currently auditing the project’s flows and ledger. Building a blockchain-oriented infrastructure for an analog market requires thorough vetting and analysis by reputable auditors.
To preserve the environment by reducing carbon emissions and deforestation, MOSS has embarked on a monumental mission. In the span of just eight months, the team has achieved something no one has been able to do. However, this is only the beginning, as more projects will be added to MOSS’s ecosystem over time.
The team acquires high-quality carbon credits from organizations all over the world. In doing so, it has obtained a 20% share of the global market.
One Conservational Effort at a Time
The Amazon forest is the largest in the world and is home to the Amazon river. It is also a region where deforestation runs rampant without meeting too much opposition from government officials. That situation has to change sooner rather than later.
MOSS’s direct participation in this region has proven very successful. The team has helped conserve forested land in this region over the past eight months. Through these efforts, 1 million hectares – equivalent to Lebanon’s size – has been preserved. It is only the first step toward undoing the effects of climate change.
That being said, afforestation and conservation efforts go beyond the Amazon forest. Scientists predict we will live in a dystopian world by 2070 unless a drastic change occurs right now. MOSS will do its part to end global deforestation, and everyone is invited to participate by offsetting their emissions through the MCO2 token.
The Carbon Credit Market and the Launch of the MCO2 Token
Research shows that 78 percent of Chinese consider climate change caused primarily by the destruction of the environment. This can be attributed to both deforestation and pollution, as those actions degrade the ozone layer. No irreparable damage has been done yet, but the planet cannot handle much more of this.
MOSS uses the Ethereum blockchain for its transparency and composability. By leveraging smart contracts, the platform issues the MCO2 token. It is an ERC-20 token that represents the ownership of carbon credits. More importantly, this approach allows for easy transfer of ownership as well.
A carbon credit is a digital certificate and a holder’s commitment to emit an equivalent of one ton of greenhouse gases (GHG). For each purchased carbon credit, funds amassed are channeled to preservation efforts supported by MOSS.
Blockchain Technology is a GameChanger
To date, MOSS has traded an equivalent of $25 million worth of tokenized carbon credits. Additionally, the team is responsible for transferring $10 million to Amazon Forest conservation projects during the previous eight months. This is the most considerable contribution from a private entity and will further expand the conservation of an extra 300,000 hectares of Amazon forest land.
MOSS will mint MCO2 tokens according to the number of carbon credits under their custody. These tokens’ ownership is recorded in a smart contract called VERPA (Verified Emission Reduction Purchase Agreement). All of this can be done from the comfort of one’s home, without having to require approval from governments or other intermediaries.
In its previous form, the carbon credit market was woefully inefficient and inaccessible. Even though it is a crucial pillar of the global economy, no one had attempted to give this industry a more modern look. Through blockchain technology, that goal has now been achieved in a very short timespan.
MOSS also relies on the openness and transparency of the blockchain for innovation. The MCO2 token is the foundation for developers to embed their carbon offsetting in other applications and services. As such, new tools can be built to allow individuals, organizations, and even businesses to directly offset their carbon emission activities. It is a modern solution for the modern age.
The acquisition of MCO2 is currently possible through Brazil’s FlowBTC platform. Further global trading partners will be introduced soon.