Technology of CO2IN
Harnessing blockchain technology for immutable transactions
A tangible value behind every credit
Each CO2IN in circulation is backed by European Union emission allowances, which are held in a special account which does not allow their use for collateral or speculation. 100 CO2INs correspond to 1 emission allowance and therefore 1 tonne of greenhouse gas emissions (CO2 or equivalent). Unlike a number of digital currency projects, CO2IN credits are only created when the user obtains them. Conversely, if it is sold back, it is withdrawn from circulation. A background process ensures that the operator owns at all times more emission allowances than the number of CO2INs in circulation (in a 1:100 ratio). If necessary, allowances are bought or sold on the exchange to ensure that there is always sufficient supply. Outside of exchange trading hours, when we are not available to buy or sell allowances, we may temporarily limit the supply of tokens for sale or repurchase in the event of excessive demand. Therefore, it is impossible for any CO2INs to be circulated without an equivalent quantity of allowances safely held in our designated accounts.
Each transaction is recorded in an immutable blockchain database
The CO2IN project operates on a private blockchain database powered by Tatum, a leader in the field. Every transaction is recorded in real-time and by nature of blockchain technology cannot be modified. This makes the CO2IN solution fully auditable. At the same time, all transactions within the CO2IN ecosystem are kept private, ensuring the privacy of our customers.
The price of CO2IN
The price of CO2IN is linked to the value of EU emission allowances, which are traded on exchanges. As the price of allowances changes, so does the price of CO2IN. CO2IN's business model is based on accessible transaction fees. We charge 1 % fee for buying CO2INs, 2 % for selling CO2INs and 0.1% for sending or paying with CO2INs.