Veridium is a cooperative effort to create a regenerative economy that sustains the natural resources of the earth and reduces carbon emissions. The system we build transforms industry standard carbon offset into tokenized assets freely exchangeable. Our partners automate the company’s carbon credit accounting and create a market to offset the process across the global supply chain.
Veridium Labs’ mission is to accelerate the transition from an unsustainable extractive economic model to a fully regenerative economy by embedded environmental impact costs into the costs of all goods and services we consume.
Veridium Labs is led by the founders of InfiniteEARTH, a leading global carbon credit producer. At InfiniteEARTH, our team created both the first REDD+ carbon accounting methodology, now embodied in the UN Paris Agreement, and the first validated REDD+ project to use it. Those efforts now protect over 64,000 hectares of forests and provide sanctuary for over 100 threatened or endangered species.
Measuring the carbon footprint of even a single product (among thousands) involves quantifying the emissions impact of each and every input in a manufacturing process across complex global supply chains. This is a daunting and costly undertaking, and this level of granularity has no assurance of accuracy.
Once impacts have been quantified, companies are confronted with a myriad of carbon standards, various classes of carbon credits, grades within those classes, and a wide range of vintages and expiration dates.
Carbon Mitigation and Hedging
Mitigating current emissions liabilities is challenging enough for organizations. Hedging for future liabilities is even more challenging.
Veridium offers a straightforward solution to build liquidity in carbon credit markets by creating an asset backed stable token (CARBON) that can be independently audited through internationally recognized third-party registries and by fully automating and integrating carbon accounting and offsetting into corporate global supply chains. This section discusses how blockchain, tokenization will benefit the natural capital asset market, as well as the distinct roles each token plays in Veridium’s ecosystem.
In today’s capital markets, most financial assets, especially those traded in electronic form, are held (or “custodied”) by centralized parties who are entrusted to maintain accurate records of asset ownership. At the core of asset custody is the management of other people’s assets in databases. The global financial system’s custody and transactional infrastructure, which has been glued together over the course of decades through acquisitions and siloed software development, is showing signs of weakness and is urgently in need of technology upgrades.
Veridium platform enables the tokenization of natural capital assets, such as carbon, biodiversity, water, and social impact offsets. Through this process, these global products can move seamlessly between disparate supply chain management systems as well as throughout Veridium ecosystem.
Immutable records of environmental credit ownership and utilization
Using distributed ledger technology and transparent records for supply chain management, it is now possible to provide a dramatic improvement in the transparency and immutability of carbon liabilities, and the application of carbon offsets at precise points along the value chain.
Global fungibility and transferability of tokenized assets
Tokenization allows for rapid global transfer of digitized representations of fungible environmental assets, with far less friction.
Natural integration into other blockchain platforms
Other platforms are emerging for verification of ecological impact, supply chain tracking and more. Integration of these systems is converging towards the ability of any individual or corporation to measure and offset their carbon liabilities in automated systems.
Ability to integrate CARBON tokens into supply chain management systems
As supply chain management moves to blockchain based technologies, such as Hyperledger Fabric framework, the potential for integrating blockchain-based tokenized assets into the supply chain increases dramatically.
The Veridium Marketplace will offer price transparency and liquidity to natural capital markets that are typically traded over-the-counter. The marketplace will offer spot markets for a variety of tokenized assets, including carbon offsets and other environmental assets that corporations can acquire to offset their current environmental impacts as well as hedge future obligations.
Solutions for Consumers
In order to further support Veridium’s mission, team is building consumer level products allowing anyone to get involved in the fight for environmental sustainability. These technologies will utilize the EcoSmart-Protocol™ to offset consumers’ carbon footprint. Veridium is launching a consumer-focused mobile application that allows anyone with smartphone to use Veridium’s CARBON tokens automatically offset the carbon footprint of their purchases. This application is called VERDEPAY.
Veridium Labs: Carbon Credits Made Simple
The idea of carbon credits is simple enough — by purchasing them, any entity can become a more responsible global citizen by helping to offset their own carbon footprint — but as in most things, the devil is in the details. It can be difficult to quantify the footprint of even a single product’s lifecycle, from raw materials to extraction to manufacturing to distribution through the global supply chain, and the process of buying and selling credits can prove confusing and costly even to a corporation with the best of intentions.
Veridium economic model is enabled by tokens. Two major challenges commonly cited by offset purchasers are the asset class’ non-fungibility and difficulty of use. We believe Veridium token model addresses these challenges. Veridium will launch with its first asset-backed token: CARBON.
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