Gangabon Protocol

To contain average global temperatures to less than 1.5°C, humans have built certificate and carbon credit systems to realign incentives worldwide towards greener practices. However, the current system has failed because people only trust carbon credits with stamps from big names such as governments, I-REC, Guarantee of Origin, which requires incredibly expensive methodologies to obtain. This means that many companies and individuals who want to implement renewable energy have no hope of receiving renewable energy certificates (REC) or carbon credits for their actions toward a greener world.

So Gangabon protocol is to provide a pool of auditors who can submit MRV reports and let token holders (auditors, in this case) verify and confirm by voting without visiting on-site. We will incentivize all players in the market to replace the bottleneck of regulated procedures, and auditors. We particularly focused on emerging markets and developing countries that are struggling to transition to clean energy infrastructure.

We are a two-sided market platform. One is the client who wants to issue renewable energy certificates with low cost and simpler procedures. Another side is environmental engineers who can audit the MRV report and want to earn rewards for their expertise without the middle player. Once the renewable energy project owner submits their details to us. The independent auditors will take a look, create a measurement report, and submit it to the platform. Now all the auditors in our community can participate to double-check all info (esp, the double-spending problem) and vote to approve or against. If their majority vote passed, the system will upload the measurement report to IPFS with web3.storage and mint certificate tokens in ERC-1155 with the metadata of the report on Filecoin. Now everyone who wants to buy the RECs from us can check all the info on the project transparently and trust the process behind MRV.