Blockchain-Based Carbon Credit Database
OwnerBenny M. Bartoninventor
Life of this patent
Estimating the term…
Abstract
Systems and methods are described for a blockchain-based carbon credit database. Mineral deposits (such as hydrocarbons) can be analyzed via a variety of regulatorily or NGO approved methods to determine size, type and other characteristics. The deposit, depending on one or more of its features, can then be converted into carbon credits (assuming said deposits are not accessed) and associated with a node on a blockchain. The carbon credits can then be traded on the blockchain.
Claims20
A system for converting hydrocarbon bearing mineral deposits to carbon offset credits and allowing for the trading of such carbon offset credits, the system comprising:
- a database configured to receive location and valorization information regarding hydrocarbon bearing mineral deposits, the database configured to maintain a map of all record mineral deposits, the database configured to verify mineral deposits with a creator of carbon credits, hydrocarbon conservancy deeds and to assign respective carbon credits to a mineral deposit;
- and
- a blockchain configured to allow nodes to trade the carbon offsets associated with the hydrocarbon bearing mineral deposits;
- wherein the database is further configured to associate a mineral deposit with a node of the blockchain, and further configured to update the map when a mineral deposit is traded to a new owner.
A method of creating and trading carbon credits, comprising:
- performing an analysis of a hydrocarbon deposit comprising determining a size and a production risk value;
- convert the hydrocarbon deposit into unique serialized registered carbon credits;
- associate the unique serialized registered carbon credits with one or more nodes on a blockchain;
- and
- allow the trading of the carbon credits via the blockchain.
A system for creating and trading carbon offset credits, the system operable to convert hydrocarbon bearing mineral deposits to carbon offset credits, the system comprising:
- a server receiving survey data on the hydrocarbon bearing mineral deposit and performing an analysis of the hydrocarbon deposit to determine a size and a production risk value and a value of offsetable carbon;
- a database in communication with the server, the database containing location and valorization information regarding hydrocarbon bearing mineral deposits, the database configured to maintain a map of all record mineral deposits, the database configured to verify mineral deposits with a creator of carbon credits and to assign respective carbon credits to a mineral deposit using the server;
- and
- a blockchain server in communication with the server and the database and configured to allow nodes to trade the carbon offsets associated with the hydrocarbon bearing mineral deposits;
- wherein the blockchain server is further configured to associate a mineral deposit with a node of the blockchain.
Dependencies are inferred from the claim text.