How to Bridge Carbon Credits Using the Trusticate Registry
The Trusticate registry is a blockchain-based platform that allows users to bridge carbon credits from the major issuing registries. This makes it easy for suppliers of sustainability credits to broaden their sales and distribution.
The bridging process is relatively straightforward. The following are the steps that suppliers or resellers, of credits from major issuing registries, need to take:
Setup Trusticate Registry. The supplier or reseller needs to acquire a license by contacting Trusticate and provide the necessary information, such as the supplier's or reseller's name, contact information.
Purchase and retire the credits in their own name. The supplier or reseller needs to purchase and retire the credits in their own name. This can be done by contacting the issuing registry and completing the necessary paperwork.
Use the Trusticate registry to mint tokens. Once the credits have been purchased and retired, the supplier or reseller can use the Trusticate registry to mint tokens. These tokens are backed by the credits and represent the ownership of the credits.
Sell and retire the tokens. The supplier or reseller can then sell the tokens to customers. When a customer purchases a token, the token is retired from the Trusticate registry.
Trusticate does not participate in the bridging process beyond providing the digital infrastructure and support suppliers or resellers to do this themselves. The tokens that are minted on the Trusticate registry have full transparency to all related project information and auditing events. This information is stored on the blockchain and can be viewed by anyone from a public webpage. This makes it easy for buyers to verify the authenticity of the credits and to ensure that they are supporting projects that are making a real difference.
The bridging process described above is consistent with the principles set forth by Verra and other major issuing registries. It is a transparent and secure process that allows for the transfer of carbon credits between different registries. This can help to increase the liquidity of the carbon offset market and make it more flexible for buyers and sellers to operate. In fact, Verra has stated that they are open to the idea of using blockchain technology to support the carbon credit market. They have also said that they are committed to working with other organizations to develop standards and protocols for the use of blockchain technology in the carbon credit market. To read the full reference article, click here.
The bridging process is a promising new development that has the potential to increase the liquidity of the carbon offset market. The use of the Trusticate registry makes it easy for suppliers of sustainability credits to do this, and thereby broaden their sales and distribution.
If you are a supplier or reseller of sustainability credits and you are interested in bridging credits using the Trusticate registry, please contact us.
