{"id":462934,"date":"2021-05-04T00:10:53","date_gmt":"2021-05-04T00:10:53","guid":{"rendered":"https:\/\/wncen.com\/?p=462934"},"modified":"2021-05-04T00:10:53","modified_gmt":"2021-05-04T00:10:53","slug":"vechains-patent-help-offset-carbon-emission","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/vechains-patent-help-offset-carbon-emission\/","title":{"rendered":"VeChain’s New Patent Could Help Offset Carbon Emission"},"content":{"rendered":"
VeChain<\/a> Global Technology has petitioned for a patent<\/a> with the U.S. federal agency Patent and Trademark Office (USPTO). Filed on April 22nd<\/sup>, 2021, the application seeks to register methods, devices, blockchain nodes, and a system for carbon recording and trading, per the document published by the agency.<\/p>\n The patent has been attributed to Jianliang Gu, Xinli Tian, and Ziheng Zhou, VeChain\u2019s Chief Technical Officer (CTO). The document describes the method to obtain data related to carbon behaviors on different objects and then converting that data into corresponding carbon data. Later, the information will be stored in a blockchain-based platform for subsequent trading as a transaction<\/a>.<\/p>\n For example, an electric vehicle with a unique ID could provide data on the amount of electrical energy consumed. This data could be compared to that of a combustion engine vehicle to determine a \u201cbaseline carbon emission amount\u201d (BE). With a smart contract<\/a> running on the blockchain platform, the owner of the vehicle can be incentivized to maintain its BE below average to receive a credit attached to its ID:<\/p>\n (\u2026) The carbon credit and the unique ID to the block chain as a block chain transaction; receiving, at the block chain node, a request for a transaction to purchase a good or service with the carbon credit; and executing, with the at least one smart contract, a block chain transaction according to the request.<\/p><\/blockquote>\n The carbon emission value will be written as a Hashed valued by performing a Hash operation. The hash will be transmitted to the blockchain and safe storage, as the document describes while adding the following:<\/p>\n the use data is collected by an IoT sensor operably coupled to the electric vehicle and transmitted to the block chain node via a computing device located in the electric vehicle.<\/p><\/blockquote>\nVeChain\u2019s Commitment To Reduce Carbon Emission<\/h2>\n