The post Carbon Credit Token Gives Consumers And Business Unparalleled Access To EU Carbon Futures Through Blockchain Technology appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
The $851 billion carbon credit market indicates a formidable push for sustainability to bring the world closer to a unified goal of becoming carbon neutral by 2050. However, despite 622 of the 2,000 largest publicly traded companies committing to go net-zero, many have failed to actually implement policies that offer real impact. This has revealed a dire need for change.
CC Token, a digital climate project providing access to the regulated carbon credit market via blockchain technology, will list CCT on the MEXC Global exchange. MEXC Global is a centralized crypto exchange with 6 million users in more than 70 countries around the world.
The first cryptocurrency collateralized by European Union Allowance (EUA) futures is coming to the MEXC Global Exchange, its second CEX listing in three months since launch. CCT empowers consumers and businesses who couldn’t otherwise access regulated carbon credits to contribute to a greener future
Founded in 2021, CCT is a utility token built on the carbon negative Algorand blockchain.
CC Token values transparency and security while operating with a long-term vision. Their reserves are held in custody by the Société General Securities Service, a leading global custodian bank. There are also independent audits carried out by PWC Luxembourg. CC Token has raised its seed round funding of $1 million from renowned investors and entrepreneurs including Preon Capital, Rob Small, President of Miniclip and Meir Barel, Managing partner of Star Ventures.
“At CC Token we are passionate about the environment, and our project represents that,” says Zhi, Founder of CC Token. “With the goal of reaching global net-zero carbon emissions, we have turned to blockchain technology to open up the European carbon market. As the only collateralized crypto backed by the world’s largest carbon market, we are democratizing and revolutionizing how consumers access carbon marketplaces.”
CCT is the governance token of CC Token Ecosystem. It will also become the native token of the Carbon City Zero Game which we will launch around the end of the year. Also in the project roadmap is a Carbon Credit DAO that will help support other green initiatives.
CC Token leverages blockchain technology to promote an action-based solution for achieving global climate goals by 2050. The Company will acquire a new batch of European Union Allowance (EUA) futures approximately every three months. A contract represents one lot of 1,000 EUAs, with each EUA being an entitlement to emit one ton of carbon dioxide equivalent gas. Therefore, one lot represents one million kilograms. Each CCT is equal to approximately one kilogram of carbon emissions. All tokens were minted at the start of the project and will be distributed accordingly to a predefined schedule.
CCT is the first and only cryptocurrency collateralized by EUA futures, the most traded carbon credit futures in the world. Carbon markets offer companies, organizations, and governments a way to control greenhouse-gas emissions. CC Token provides access to the largest of these carbon markets – the EU ETS. Retail consumers and small businesses are currently prohibited from easily accessing this market due to the financial implications involved. MEXC is the second exchange platform listing CCT following the token’s debut in March on BitMart.