MCO2 is an Ethereum token for carbon credits. The project’s goal is to combat climate change. Burning one MCO2 token on the Moss Carbon Credit platform is equivalent to offsetting one ton of CO2 footprint, which is made possible by purchasing and protecting land in the Amazon rainforest. Note: Coinbase currently only supports MCO2 running on the Ethereum blockchain (ERC-20).
What Is MOSS Carbon Credit (MCO2)?
MOSS Carbon Credit (MCO2) describes itself as an organization working for climate tech that unites enterprises and individuals to combat climate change. The company aims to encourage compensating for carbon emissions by funding an equivalent preserving of carbon dioxide elsewhere. This process is called carbon offsetting. MOSS seeks to simplify carbon offsetting and make it transparent using blockchain technology.
The organization reiterates that modern transportation, food consumption, and energy use emit greenhouse gases and contribute to global warming. According to the whitepaper, MOSS intends to leverage blockchain and technology to preserve the environment by developing the market for carbon credit. The paper explains carbon credit as a digital certificate proving that a corporation or an environmental project avoided the emission of one ton of carbon dioxide equivalent in a particular year. MOSS intends to purchase carbon credits from high-quality ecological projects in the Amazon rainforest that minimize or trap carbon dioxide emissions into the atmosphere. Subsequently, users can view these credits using the start-up's digital platform, www.moss.earth, making a previously complex process transparent and straightforward.
The team at MOSS believes that the carbon credit market offers a sustainable solution for climate change by placing a cost on greenhouse gas (GHG) emissions. Hence, the platform intends to assign a price to GHG resulting from production processes, thus penalizing those who emit more GHGs and rewarding those who emit less GHGs. Currently, the MOSS team is working to streamline obtaining carbon credits from Amazon rainforest initiatives with the most significant environmental benefit. The team believes that the goal of carbon credits is to exchange them for compensation. Hence, the platform aims to tokenize governance and economic rights to small forest areas into NFTs. Tokenization essentially means converting tangible and intangible assets into blockchain-based tokens that users can easily trade.
MOSS purchased hectares of land for preservation in the Amazon rainforest located in areas facing a high risk of deforestation. The land's digital rights were fractionated and transformed to NFTs. As a result, the team seeks to achieve mass adoption of the NFTs to preserve more forestland. Additionally, the Amazon NFT uses satellite photos to monitor and maintain areas in real time. Users can contribute as little as 1 hectare (a football field) to create a "green wall" with a potential of 6 million acres. In a nutshell, customers can own and preserve a piece of the Amazon rainforest by holding an Amazon NFT on MOSS.
MOSS intends to incorporate carbon credits into its native token, MCO2. Using the MCO2 token's simplicity, the developer hopes to turn it into a "primitive," a crypto term for a "building block" that other innovators may use to add new features and functionality to their tokens, smart contracts, and fintech apps. The MCO2 token aims to decentralize how the global carbon credit flow operates, as no single entity controls access to carbon credits or the market under the MCO2 token system. In simple words, MCO2 token is a global carbon credit token that aims to compensate users for reducing their carbon footprint quickly, securely, and in a transparent manner.
History of MOSS Carbon Credit (MCO2)
Luis Felipe Adaime is the founder and CEO of MOSS. Adaime was a management science and engineering major and economics minor at Stanford University. He began his career at Credit Suisse, where he rose to vice president. In 2020, Luis decided to work with sustainability. Subsequently, he founded MOSS to prevent climate change and preserve the Amazon rainforest by developing a digital carbon credit trading platform.
How Are New MOSS Carbon Credit (MCO2) Tokens Created?
MOSS runs on the Ethereum blockchain. Hence, new blocks are created using the proof-of-stake consensus mechanism.
How Many MOSS Carbon Credit (MCO2) Tokens Are There?
MOSS intends to create an infinite supply of MCO2 tokens based on carbon credit supply and demand.
How to Purchase MOSS Carbon Credit (MCO2) Tokens?
The token is available on various centralized exchanges, including to Coinbase. You can trade MOSS Carbon Credit on Coinbase.com or on the Coinbase app.
