Redesigning Carbon Credits to Future-Proof Visitor Economy With Post-Quantum Resilience Blockchain and 3-tier Token Tech
The joint research effort is focused on the Carbon Tokenomics Model (CTM), which has the potential to reduce the climate impact of the visitor economy.
While there are significant efforts being made to transition to cleaner energy sources for land-based transport and buildings, the tourism sector has been left on the tarmac in the move towards net zero. It is challenging for organizations to be confident in the genuine positive impact of current offsetting solutions.
Therme Group and University of Surrey consider that the Carbon Tokenomics Model (CTM), a mechanism designed to make great strides in the fight against climate change, might be one of the solutions.
The future of the Voluntary Carbon Market has greatly increased in recent months. In particular, following a European Union announcement regarding tracking the carbon footprint in the absence of a reliable, scientifically proved, transparent and sustainable mechanism.
The new joint research effort seeks to transform the tourism industry's emissions measurement and carbon trading with a revolutionary three-tier token-based system.
The CTM mechanism is now under development and stress-testing by several groups of researchers through three different research studies. The two parties jointly released new research on the topic at COP28 in Dubai.
The first study, aptly named “Redesigning Carbon Credits to Future-Proof the Visitor Economy with Blockchain Technology and Progressive Tokenomics” is spearheaded by SWELL (Centre for Sustainability and Wellbeing in the Visitor Economy, UniS), with leading researchers Prof. Xavier Font and Prof. Eduard Goean.
The other two studies, “Reinventing Carbon Credits for the Visitor Economy through a 3-Tier Token Concept” and “A New Era of Security and Innovative Tokenomics for the Future Visitor Economy”, fall under the domain of SABMA (Surrey Academy for Blockchain and Metaverse Applications). These studies, helmed by lead researchers Prof. Yu Xiong and Prof. Eduard Goean, are poised to contribute vital technological insights, with applications well beyond the Carbon Tokenomics Model.
The Therme Group has also recently embarked on a joint financing project with the UK government (Innovate UK), with academic support from UniS, under the Knowledge Transfer Partnership (KTP) scheme. This project focuses on the development of a groundbreaking “Carbon Footprint Calculator for the Visitor Economy”. The aim is to provide the industry with a tool that enables the most accurate measurement and management of the carbon footprints. The carbon calculator will be a synergic part of the Carbon Tokenomics Model, as well.
Roughly 11% of global greenhouse gas emissions are due to tourism, an amount likely to double by 2050 if current trends continue.
Communicated By:
Therme Group is a global organization focused on urban wellbeing destinations. The group's global office is in Vienna with officers in Asia, Canada, the United Kingdom, the United States and elsewhere. Therme concept was developed in the late 1990s by visionary German architect, Josef Wund and is currently developing resorts around the world.
The University of Surrey (UniS), one of the world's leading universities for tourism studies and research. The university is located near London.
Dr. Robert Hanea
Therme Group
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