An American University of Sharjah (AUS) research team filed a provisional patent with the United States Patent and Trademark Office for a blockchain system they developed to improve the carbon credits trading (CCT) market.
CCT uses a marketplace to buy and sell credits that allow companies or other parties to emit a certain amount of carbon dioxide. Governments set limits on emissions, and companies that emit less than their limit can sell their excess credits to those that exceed their limit. CCT encourages companies to reduce their carbon emissions and invest in cleaner technologies, ultimately helping to combat climate change.
