The problem HBCO2 solves

The traditional carbon credit and offset system faces significant challenges, including a lack of transparency, where transactions and retirements are often not publicly visible, making it hard to verify credit usage and prevent double-counting or fraud. Fragmented registries with inconsistent formats, manual and slow verification processes, and limited market access for small buyers further complicate the system. Additionally, opaque retirement claims make it difficult for the public to verify companies' offset assertions, undermining trust in the market.​

The challenges of the traditional carbon credit and offset system impact a wide range of stakeholders. Corporates and buyers struggle with opaque pricing and unverifiable offset claims when trying to meet emission reduction goals, while project developers face slow, costly approval processes and limited access to global markets. Auditors and verifiers waste time reconciling fragmented data across disparate registries, regulators and policymakers lack real-time data for effective enforcement and reporting, and retail or small investors are excluded due to high entry barriers, complex onboarding, and illiquid markets.​

Challenges I ran into

There are multiple hurdles e ran into while building this project and still in process of resolving it. Following is the brief of them:

• getting the data from public carbon registries into Blockchain
• Integrating functionalities of Chainlink that could be leveraged for seamless transactions
• Integrating decentralized identity and attestations in maintaining the credibility of credit issuance process
• How to ensure the accuracy and integrity of real-time carbon data at the source, especially when integrating AI and decentralized verification mechanisms