Climate impacts everyone, from multinational corporations overseeing complex supply chains to individual farmers managing unpredictable crop yields. Although the totality of its disruption is unknown, some estimates point to future climate change damages ranging from 2-10% of global GDP per year. One solution often touted involves reducing carbon emissions, widely considered a negative externality of modern economies and a leading contributor to climate change. While there are many methods of CO2 reduction, hybrid smart contracts—blockchain applications that use oracles to access real-world data and perform advanced computations—offer an innovative alternative, one in which shared truth, open-source infrastructure, and automated incentive structures bring together a diverse group of entities around a common cause.
In support of hybrid smart contracts for green finance initiatives, the Chainlink Community Grants Program is awarding a social impact grant to the Open Earth Foundation (OEF), a US-based research and deployment foundation using digital technologies to increase planetary resilience. The grant will fund the creation of an open-source data feed that measures the planet’s atmospheric CO2 concentration and makes the data available in leading blockchains through an OEF-run Chainlink oracle node.
As part of the grant, OEF will deliver the following resources to the Chainlink ecosystem and the broader blockchain and environmental communities:
- Develop a unique climate data model for generating a single trusted value for planetary CO2 atmospheric concentration based on extensive research and prioritization of the most relevant datasets in terms of their robustness, trustworthiness, and accessibility.
- Build an open-source API so developers, applications, DAOs, and even non-blockchain systems can access CO2 concentration data, as well as write detailed documentation on how to integrate it.
- Develop open-source Chainlink External Adapters that enable Chainlink nodes to fetch data from the API and deliver into leading blockchain environments. Additionally, OEF will work towards launching a Chainlink ...
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