Well, what a day it has been for DOVU. As you may well know, today we teamed up with Hedera to showcase our shiny new MVP to our amazing community. Last year, we embarked on our journey to heal the planet through the Proof of Carbon on Hedera Hashgraph project and leveraged the work by Trust Enterprises, a community-driven open source project. This was just one step in the right direction and we hope you can see our commitment to saving the planet through our continued ingenious technology developments and strategic partnerships we have recently released.
If you missed out on the Webinar, don’t worry! The full video podcast can be viewed on the Hedera YouTube channel here and you can see the highlights below:
What are we building at DOVU?
It’s simple, we are building a Platform for proof of carbon. This will create an end-to-end solution for the issuance, maintenance, and retirement of carbon credits. Ultimately, our goal is to harness the power of blockchain to grow a community of crypto users and carbon farmers who work together to utilise one of nature’s greatest carbon-capture assets: soil. By working together, we can achieve real-time and automatic tokenized carbon offsetting.
Why do we need Independent Project Validators?
Now, this is the important part, we cannot internally create credits without verified carbon supply from our network of trusted independent project validators. Every farm, every document needs an audit trail.
Why did we choose Hedera?
We chose Hedera as they are an environmentally friendly and carbon-positive DLT with a focus on developer accessibility with a transaction finality of 3-5 seconds at a low transaction cost. With the Trust Enterprises API we have the tools to capitalize on building products.
Why do we use dNFTs (HCS and HTS)?
Back in January (during the Hedera21 hackathon) our CTO stumbled across this combination of using #HCS and #HTS coining the term dynamic #NFTs. It blew our mind that now any real-world asset can be tokenized and linked to their verified history.
What are dynamtic NFTs (dNFTs) to DOVU?
At DOVU dNFTs are used to tokenize soil and inherit an infinite amount of proof to it, completely on-chain. All proof is audited, all reports and changes of carbon storage are included. We call these tokens cDOV.
Which decentralised storage method will DOVU utilise?
All of our proof is pinned to decentralised storage IPFS and Filecoin, meaning that a cDOV is durable and further trusted.
On purchases of our cDOV anyone can use their credit card or redeem utilising DOV tokens from different networks including Ethereum, Polygon, and Binance. For an innovative multi-chain redemption flow, we have a very cool integration with Venly.
How does Carbon Retirement work?
At the point of purchase, credits are instantly retired, which is then recorded through the timestamped transfer from the DOVU wallet to that of the user. A user’s profile displays and exports logs for proof of carbon.
What is our Carbon Market Cap?
Carbon Market Cap is the ability to track the carbon debt of every single active Ethereum project, since genesis. Check out the Webinar video on YouTube for a sneak peak.
DOVU Certificates backed with Hedera state proofs, a completely trustless way to audit that carbon was retired at a point in time without using any third party, including us. Further design and implementation of our ecological token design, the development of a tokenized open standard for ecological tokens working with the and their core members including Hedera.
Now, we can’t cover everything here but you can view the whole Webinar on Youtube by following this link
>> Watch Now <<
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