STRICTs: A Blockchain-enabled Smart Emission Cap Restrictive and Carbon Permit Trading System

Youshui Lu; Yue Li; Xiaojun Tang; Bowei Cai; Hua Wang; Lei Liu; Shaohua Wan; Keping Yu

doi:10.1016/j.apenergy.2022.118787

STRICTs: A Blockchain-enabled Smart Emission Cap Restrictive and Carbon Permit Trading System

Youshui Lu, Yue Li, Xiaojun Tang, Bowei Cai, Hua Wang, Lei Liu, Shaohua Wan, Keping Yu^*

^*Corresponding author for this work

Economics

Research output: Contribution to Journal › Article › Academic › peer-review

Abstract

As the first legally binding global agreement on climate change, the Paris Agreement aims to limit long-term global warming to less than 2 °C, preferably below 1.5 °C compared to pre-industrial levels. Road transport, as one of the primary sources of energy consumption and carbon emissions, has great potential for energy conservation and emission reduction in achieving the climate goals. However, current approaches cannot efficiently reduce road travel, making it challenging to decarbonize in the transport sector. Therefore, in this paper, we propose STRICTs, a blockchain-enabled motor vehicle restrictive and trading system based on the carbon emissions cap. STRICTs allows automated carbon emission auditing and carbon emission violation punishment without relying on third-party escrow. Through a decentralized enforcer, STRICTs also enables carbon permit trading reliably and transparently. Finally, we implement a proof-of-concept prototype of the system based on Hyperledger Fabric and conduct experiments for comprehensive performance evaluation through CO2 Emission by Vehicles dataset. The experiment results show the practically affordable performance of STRICTs.

Original language	English
Article number	118787
Pages (from-to)	1-11
Number of pages	11
Journal	Applied Energy
Volume	313
Early online date	4 Mar 2022
DOIs	https://doi.org/10.1016/j.apenergy.2022.118787
Publication status	Published - 1 May 2022

Bibliographical note

Funding Information:
This work was supported by the Key Research and Development Program of Shaanxi Province, China No. 2021GXLH-Z-054 and the Key R&D and Transformation Program of Qinghai Province, China No. 2021-GX-112 .

Publisher Copyright:
© 2022 Elsevier Ltd

Funding

This work was supported by the Key Research and Development Program of Shaanxi Province, China No. 2021GXLH-Z-054 and the Key R&D and Transformation Program of Qinghai Province, China No. 2021-GX-112 .

Funders	Funder number
Shanxi Provincial Key Research and Development Project	2021GXLH-Z-054
Key R&D and Transformation Program of Qinghai Province	2021-GX-112
Japan Society for the Promotion of Science	21K17736

Keywords

Auditing
Blockchain
Carbon footprint
Carbon permit
Carbon trading
Internet of vehicles
Transportation

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/j.apenergy.2022.118787

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title = "STRICTs: A Blockchain-enabled Smart Emission Cap Restrictive and Carbon Permit Trading System",

abstract = "As the first legally binding global agreement on climate change, the Paris Agreement aims to limit long-term global warming to less than 2 °C, preferably below 1.5 °C compared to pre-industrial levels. Road transport, as one of the primary sources of energy consumption and carbon emissions, has great potential for energy conservation and emission reduction in achieving the climate goals. However, current approaches cannot efficiently reduce road travel, making it challenging to decarbonize in the transport sector. Therefore, in this paper, we propose STRICTs, a blockchain-enabled motor vehicle restrictive and trading system based on the carbon emissions cap. STRICTs allows automated carbon emission auditing and carbon emission violation punishment without relying on third-party escrow. Through a decentralized enforcer, STRICTs also enables carbon permit trading reliably and transparently. Finally, we implement a proof-of-concept prototype of the system based on Hyperledger Fabric and conduct experiments for comprehensive performance evaluation through CO2 Emission by Vehicles dataset. The experiment results show the practically affordable performance of STRICTs.",

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AU - Liu, Lei

AU - Wan, Shaohua

AU - Yu, Keping

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STRICTs: A Blockchain-enabled Smart Emission Cap Restrictive and Carbon Permit Trading System

Abstract

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Keywords

UN SDGs

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