Source: Whitepaper: Open Climate. Leveraging blockchain for a global, transparent and integrated climate accounting system. By Martin E. Wainstein.
Obtaining Consensus on the physical state of the planet via the prototype proposed by
"The main insight of this pillar has already been laid out above in section 1.1. There needs to be a clear distinction between the physical planet and the political world. The need for consensus of the Earth’s ecosystem state and key ‘vital signs’ are three-fold. First, a robust and scientific consensus needs to dispel any post-truth or climate skepticism from the general public, it needs to clearly record ‘the facts.’ Second, this data sets the baseline for all science-based climate targets from state and non-state actors. It also facilitates the evaluation of the aggregate effect of climate actor’s collective efforts. Finally, an established immutable value on a distributed ledger can be used for smart contracts to automate certain processes that need to be based on physical metrics. For example, a smart contract can deterministically tie carbon pricing to the remaining planetary carbon budget relative to a 1.5oC target using on-chain records.
This pillar is translated in the concept of an Earth ledger. Section [3.1] describes the architecture and process flow to operate a decentralized carbon budget accounting mechanism, involving global CO2 internet-connected sensors, multi-source oracles, integrated assessment models, and Earth system governance to manage uncertainty ranges. While we focus here on the carbon modules of the Earth ledger, this is but one of many modules to consider. A natural extension of it could include the tracking of all planetary boundaries (Rockstrom et al., 2009)." ()