Transforming Carbon Emission Trading Schemes in Thailand Using Non-Fungible Tokens

With 1.92 million tons of carbon dioxide equivalent traded, the value of carbon credits under the T-VER project was estimated to be 146.7 million baht as of mid-2022. But compared to Thailand's total greenhouse gas emissions, which were 257.77 million tons of carbon dioxide equivalent in 2021, this trading volume is minuscule. Given this importance, the researchers see challenges in developing a mechanism for creating carbon credit assets in the form of NFTs and a support system to drive the carbon credit trading process. This article aims to apply a Non-Fungible Token (NFT) to enhance a credit carbon system. Existing systems often face challenges related to transparency, accountability, and traceability. This explores the potential integration of NFT into carbon credit systems to enhance transparency and traceability. A concept to address these challenges and optimize the functioning of carbon credit systems in Thailand. Including the theoretical framework, technical aspects, potential benefits, and challenges of integrating NFTs, a Blockchain base that is part of the cyber security framework for data protection in the digital world, into carbon credit systems. The researchers see challenges in developing a mechanism for creating carbon credit assets in the form of NFTs and a support system to drive the carbon credit trading process, with a primary focus on Cyber security standards.