VeChain's New Patent Can Help Balance Carbon Emissions

VeChain Global Technology has filed a patent application with the United States Federal Patent and Trademark Office (USPTO). According to the document released by the agency, the application filed on April 22, 2021 aims to register methods, devices, blockchain nodes, and a carbon capture and exchange system. The patent was awarded to Jianliang Gu, Xinli Tian and VeChain Technical Director (CTO) Ziheng Zhou. The article describes the method of obtaining data on the behavior of carbon on different objects and then converting that data into corresponding data on carbon. The information will then be stored on a blockchain-based platform to be exchanged as transactions. For example, an electric vehicle with a unique identifier can provide data on the amount of electrical energy consumed. These data can be compared to a vehicle equipped with an internal combustion engine to determine a "base amount of carbon emission" (BE). With a smart contract running on the blockchain platform, the vehicle owner can be encouraged to keep his BE below average to get a loan associated with his identity: (…) the carbon loan and the unique identifier of the vehicle. blockchain as a transaction blockchain; receiving a transaction request in the blockchain node to purchase a good or service with carbon credit; and executing a blockchain transaction on demand with at least one smart contract. The CO2 emission value is written as a hash value that is evaluated by performing the hash process. The hash is sent to the blockchain and secure storage, as described in the document, adding the following: Usage data is collected through an IoT sensor functionally connected to the electric vehicle and a computing device in the electric vehicle. VeChain's Commitment to Reducing Carbon Emissions The document submitted to the USPTO claims greenhouse gases are the main cause of global warming. That's why VeChain Global Te

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