WEB3CO2 Index by SmartLedger (Infrastructure)
Last updated
Last updated
PROJECT OVERVIEW
Project: Web3CO2 Index, a blockchain-based carbon tracking and offset verification platform. Monitor and verify carbon credits with unprecedented transparency.
Solution Providers: SmartLedger & Tokenovate (in collaboration with BSV Blockchain Association)
Website URL:
Industry: ESG Reporting, Blockchain Infrastructure
Geographic Reach: Global
BSV Integration Start Date: 2023
BUSINESS CHALLENGES
Inefficiencies/Risks:
Traditional carbon accounting tools only measure energy input (e.g., total energy consumption) without factoring in the utility delivered by blockchain networks. This narrow view fosters misunderstanding about blockchain’s environmental footprint, especially around networks like Bitcoin (BTC). Enterprises face growing pressure to justify blockchain usage against sustainability benchmarks.
Why Traditional Systems Were Insufficient:
Existing benchmarks like the Cambridge Bitcoin Electricity Consumption Index do not account for transaction throughput, block size, or value output—leading to incomplete and sometimes misleading assessments of a blockchain’s environmental efficiency.
WHY BSV?
What Made BSV Ideal:
The BSV blockchain offers ultra-low transaction fees, massive scalability, and stable protocol rules. Its ability to handle millions of transactions per block allows for a dramatically reduced carbon footprint per transaction as block size increases and hash power remains steady.
Comparison to Other Blockchains:
While BTC handles around 7 transactions per second at high energy cost, BSV supports vastly higher throughput with a fraction of the energy per transaction. Ethereum and BTC focus more on energy input; BSV is optimized for utility and output per watt.
SOLUTION ARCHITECTURE
Overview:
Web3CO2 is a blockchain-based carbon tracking and benchmarking index. It enables enterprises to compare blockchain platforms—BTC, ETH, BSV—on energy consumption per transaction and broader ESG metrics.
Key Components:
Data Logging: Measures energy usage, transaction count, block size, and carbon intensity.
Analytics Dashboard: Provides comparative benchmarks between blockchain networks and traditional infrastructure.
ESG Reporting Layer: For compliance, investor relations, and operational sustainability tracking.
Partners/Vendors:
SmartLedger (platform developer)
Tokenovate (carbon derivatives platform)
BSV Blockchain Association (collaborator and infrastructure provider)
IMPLEMENTATION PROCESS
Phases of Rollout:
Initial prototype and benchmarking model (2023)
Full-featured dashboard launch with live comparisons and reporting tools (2024)
Expansion to include deeper transactional insights and integrations (planned within 6 months)
Integration:
Not specified for legacy ERP/SCM systems, but designed to serve enterprise stakeholders such as CIOs and sustainability officers.
Stakeholder Onboarding:
The tool is positioned for exchanges, broker firms, mining operations, and ESG-focused businesses.
OUTCOMES & BUSINESS IMPACT
Quantifiable Improvements:
Over 1 million tons of carbon tracked
80% reduction in verification time
99.9% data accuracy in carbon reporting
Before vs After Metrics:
Businesses can now measure carbon cost per blockchain transaction, rather than relying solely on total network energy consumption.
Stakeholder Feedback:
Facilitates more accurate, transparent ESG reporting
Allows for better-informed blockchain adoption decisions
Demonstrates utility-weighted sustainability to regulators and customers
CHALLENGES & MITIGATIONS
Challenges:
Public misunderstanding of blockchain mining vs. transaction processing
Lack of utility-weighted carbon metrics in existing indices
Greenwashing by networks with high fees and low throughput
Mitigation Strategies:
Educational outreach through the Web3CO2 dashboard and industry presentations
Clear output-focused metrics and side-by-side comparisons
Transparent methodology development with the BSV Association
FUTURE VISION
Expansion Plans:
Additional blockchain platforms and legacy tech (e.g., cloud services) to be added to the dashboard
Enable corporate sustainability audits and investor-grade ESG disclosures
Additional BSV Functionalities to Explore:
Micropayment-enabled incentives for carbon offsets
Smart contract-based automated ESG compliance triggers
TESTIMONIAL HIGHLIGHTS
“It’s time for a new benchmark that includes utility, transparency, and context.”
— Richard Baker, CEO of Tokenovate
“We’re not just tracking energy—we’re measuring meaningful use. BSV is the first blockchain where the more you use it, the lower your per-transaction footprint becomes.”
— Greg Ward, CDO of SmartLedger
