Abstract
The increase in greenhouse gas emissions has induced intense climate change,
significantly impacting human lives through increased mortality rates, flood-related
death, and exacerbated effects like cognitive decline due to heightened nitrogen
dioxide (NO2) concentrations. While effective in controlling emissions, the European
Union Emission Trading System operates centrally, fostering vulnerabilities
such as potential inaccuracies in emission record reporting and susceptibility to
manipulation. This project addresses these challenges by addressing the absence
of an emission trading system across the African continent and the limitations
of existing centralised systems. The study aims to develop a blockchain-powered
carbon trading system using Django (Python Rest Framework Library), Python,
PostgreSQL, Hedera Blockchain, and Solana Pay. This innovative solution ensures
transparency, immutability, and decentralisation in carbon trading. Automating
the recording of carbon emissions mitigates human-induced errors associated with
manual reporting prevalent in current systems. Compared to conventional methods,
our system revolutionises the agreement process between application entities
into smart contracts, eliminating third-party interference. Moreover, it offers an inherent
advantage by automatically capturing carbon emission records, minimising
inaccuracies and manipulation. The system’s performance was evaluated and confirmed
sufficient for the release of the first version. Implementing this blockchainpowered
system can also represent a transformative step towards a more secure,
transparent, and efficient carbon trading infrastructure, potentially paving the way
for global adoption and impact.