Crypto-Based EV Payments System is a Huge Use Case for Blockchain, So Invest Now in This Future-Proof Project
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Carbon credit markets are booming as countries around the world take action to try to mitigate the climate impact of their CO2 emissions. According to analysts at Refinitiv, the value of carbon credits traded increased by 164% in 2022, reaching a total trading volume of $851 billion.
Meanwhile, according to analysis from Coherent Market Insights, the market cap of the global carbon credit market was around $211.5 billion in 2019 and is expected to grow to over $2.4 trillion by 2027. Carbon credits allow polluters to offset their CO2 emissions by essentially funding carbon-negative projects via investments in carbon credits.
But carbon credit markets remain notoriously centralized. Big manufacturing/industrial sector players get to buy credits on mass. Big sellers, like electric vehicle (EV) maker Tesla, get to sell credits on mass. But what about individuals?
Shouldn’t there be a way for individuals to be rewarded for their climate-positive actions – such as owning and driving an electric vehicle rather than a fossil fuel car? Up until now, technology hasn’t been there to democratize access to the rapidly growing carbon credit reward market.
But a new crypto start-up called C+Charge is looking to change that. The upstart company is looking to realize a key blockchain use case by, for the first time, allowing EV drivers to earn carbon credits every time they charge their vehicle.
C+Charge – Rewarding EV Drivers With Carbon Credits
C+Charge is developing a peer-to-peer blockchain-based electric vehicle charging payment system designed to open up the carbon credit reward market to the drivers of EVs, like Tesla.