VeChain’s Carbon Trading Patent application has been approved by the USPTO, highlighting the company’s commitment to addressing global warming challenges through carbon emission technology. VeChainThor achieved an impressive low carbon footprint in 2022, underscoring its eco-friendly approach. The patent application, filed three years ago, covers methods, devices, blockchain nodes, and a system for carbon recording and trading. The USPTO’s approval signifies a significant milestone for VeChain. The company aims to provide a trustworthy and tamper-proof platform for enterprises to store their carbon emission data, reducing confusion in carbon records without the need for third-party intervention. The patent outlines a method to obtain and convert data related to carbon behavior into corresponding carbon data for storage and subsequent trading on a blockchain-based platform. For example, data on the electrical energy consumption of an electric vehicle can be compared to combustion engine vehicles to determine a baseline carbon emission amount. Owners of vehicles with a lower emission amount will receive credits linked to their unique ID. The carbon emission value is securely stored on the blockchain through a Hash operation. Despite recent declines in the market, VET continues to trade at $0.034. VeChain’s innovative approach and dedication to environmental sustainability position it as a disruptor in various sectors, from carbon markets to supply chains to energy systems. The future looks promising for VeChain and its VET token.
