Blockchain Driven Carbon Credits Marketplace

Unicsoft developed a solution allowing marketing, trading and tokenization of carbon credits by individuals and institutions in a transparent and secure way.

About the Project

The client turned to Unicsoft to create a marketplace connecting carbon reducing project developers with institutional investors and individuals looking to offset their emissions by acquiring and trading VCO credits and allowing them to trade those credits in a low cost and transparent environment. Once the credits are issued on the platform as NFTs, individuals can seamlessly trade carbon credits within minutes. These NFTs are backed by real, verified carbon credits and are minted on a private blockchain that is only accessible via the platform.

Business Challenges

As the world looks to decarbonize, many project developers, emitters and investors are looking to the rapidly growing VCO Credit market to solve their green project financing and decarbonization needs. The current market is disparate, opaque and filled with friction.
New Frontier Markets is creating a transparent and low cost marketplace for the marketing and trading of carbon credits through the digitization of the VCOCs.
By reducing costs and increasing transparency, more VCOC dollars go to the decarbonization projects and trust improves in the marketplace.

Technical Challenges

Unicsoft engineering team was challenged with a set of strict product requirements and implementation scope to deliver the solution:
All buy & sell transactions that take place on the platform should use custom blockchain native currency (stablecoin). However, all platform users should be able to receive their operational revenues automatically in fiat USD.
Considering private data usage and security measures, we had to apply the Blockchain Cosmos and Tendermint consensus protocol as a foundation for the platform’s development.
The marketplace has to be as widely accessible as possible. Therefore, it must be compatible with the latest versions of desktop web browsers: Google Chrome, Firefox, Safari, Edge, and Brave, as well as mobile browsers.
The infrastructure modules (servers, databases, data flow managers) must be accessible 24/7/365.
The platform is intended for monetization via NFT royalties (charging a percentage from every NFT sold in the primary marketplace) with a transactional fee basis on trades (for institutional buy/sell operations).
Developed smart contract for the blockchain virtual machine should provide the ability to issue non-fungible NFT tokens and transfer them to any wallet belonging to the blockchain, as well as to other blockchain networks through bridges.

The Solution

Unicsoft’s project scope included full-cycle development for the client. We started from the Discovery phase, providing the client with the project's vision, which the client successfully accepted. From there, we began developing the platform's blockchain, front-end, and back-end.
Unicsoft has developed three web platforms:
Admin panel for efficient management of projects & carbon credits on the platform.
Unicsoft has developed three web platforms:
The retail marketplace is for basic buyers who can purchase a project and compensate for the excess carbon dioxide they’ve produced.
Unicsoft has developed three web platforms:
The institutional marketplace is for financial institutions that can buy, burn, and resell credits.
Platform features and user roles
  • Customers are able to buy, sell, and retire carbon credits using native platform coins.
  • Customers browse advanced project catalogs and keep track of what credits they currently own.
  • Users can top up the platform wallet with credit card/wire transfer and withdraw money from the platform.
  • Project developers can issue carbon credits by applying for a new project listing and token minting.
  • Platform admin is empowered to approve new project listings on the platform, manage project pages, and mint carbon credits.