Carbon credits and environmental impact tracking: The role of blockchain in supporting efficient and secure carbon credit markets

This research investigated how Blockchain might fix problems in carbon credit markets when it comes to being open, stopping fraud, and tracking things as they happen.It takes a deep dive into current carbon credit systems to find significant issues like counting things twice, not having the same rules for everyone, and slow ways of doing business.The study then checked if spread-out features of blockchain can help.Real-life examples show that blockchain can cut business costs by up to 30% by using smart contracts.It also helps more people join in by checking things right away and letting everyone see how credits move.These changes make carbon credit systems more trustworthy and help countries work together better.However, there are still problems, like making blockchain work for more people, the fact that it uses a lot of energy, and that different industries do not all follow the same rules.To fix these, the blockchains that use less energy and make rules that work worldwide need to be studied.Even with these problems, blockchain can help by making paperwork easier, cutting costs, and holding people responsible.This lets smaller groups join in and makes the market work better.The study pointed out that it is new and important to mix blockchain with things like the Internet of Things and AI to track emissions and check credits better in real time.