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Research on the Blue Carbon Trading Market System under Blockchain Technology

Author

Listed:
  • Changping Zhao

    (Changshu Institute of Technology, Changshu 215500, China)

  • Juanjuan Sun

    (College of Maritime Economic and Management, DMU, Dalian 116026, China)

  • Yu Gong

    (Southampton Business School, University of Southampton, Southampton SO17 1BJ, UK)

  • Zhi Li

    (School of Electromechanical Engineering, Guangdong University of Technology, Guangzhou 510006, China)

  • Peter Zhou

    (VeChain, 7 Straits View, Marina One East Tower, 05-01, Singapore 018936, Singapore)

Abstract

To combat global warming, “carbon neutrality” has gradually become a consensus. Some countries have constructed domestic and regional carbon trading markets, and links to global carbon markets are receiving increasing attention. Blue carbon, an important component of nature-based solutions (NbS), has not received the attention it deserves and is still isolated from the carbon trading market. Based on summarizing the existing achievements of blockchain application in carbon trading, this paper analyzes how to make each participating body provide services in the process of blue carbon production, circulation and trading, and designs the architectural diagram of the blue carbon system under peer-to-peer (P2P) transactions based on the theoretical framework of blockchain 3.0. Utilizing the advantages of decentralization, high transparency and non-tamperability of blockchain, we can realize a highly efficient, low-cost and intelligent blue carbon trading management system. Thus, we can make the world pay more attention to the development and utilization of marine resources and increase investment in blue carbon sink projects; and promote the development of blue carbon market, enrich the carbon trading market, and help achieve “emission reduction without reduction in production”.

Suggested Citation

  • Changping Zhao & Juanjuan Sun & Yu Gong & Zhi Li & Peter Zhou, 2022. "Research on the Blue Carbon Trading Market System under Blockchain Technology," Energies, MDPI, vol. 15(9), pages 1-17, April.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:9:p:3134-:d:801778
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    References listed on IDEAS

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    Cited by:

    1. Hanghang Dong & Jun Yang & Xiaoming Li & Lan Xu, 2024. "Explore the Impact Mechanism of Block Chain Technology on China's Carbon Market," Computational Economics, Springer;Society for Computational Economics, vol. 64(1), pages 105-135, July.
    2. Chunhua Ju & Zhonghua Shen & Fuguang Bao & Pengtong Weng & Yihang Xu & Chonghuan Xu, 2022. "A Novel Credible Carbon Footprint Traceability System for Low Carbon Economy Using Blockchain Technology," IJERPH, MDPI, vol. 19(16), pages 1-16, August.
    3. Arsenii Vilkov & Gang Tian, 2023. "Blockchain’s Scope and Purpose in Carbon Markets: A Systematic Literature Review," Sustainability, MDPI, vol. 15(11), pages 1-27, May.
    4. Xiangyang Yu & Xiaojing Wang, 2023. "Research on Carbon-Trading Model of Urban Public Transport Based on Blockchain Technology," Energies, MDPI, vol. 16(6), pages 1-21, March.

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