Impact Credits

Impact Credits can represent any verified social, environmental, economic, or climate outcome state that people and organisations care about, are willing to pay for,  invest in, or work towards.

Each Impact Credit links to a digital Impact Certificate that contains the credentials of all the entities involved in producing, measuring, reporting, and verifying the outcomes that have been claimed.

The verifiable claims and data that have been collected and evaluated to provide evidence for the outcomes are published in the Impact Certificate, with encrypted proofs.

Carbon Credits

Impact Credits may be referred to as credits – such as Digital Carbon Credits.

Carbon Credits are a class of Impact Credits that carries information about the standardised units of measured, reported and verified greenhouse gas emissions that have been sequestered or reduced by a project.

The CARBON credit is an example of a digital carbon credit. Each CARBON credit represents 1kg of CO2 emissions reduced by an activity, such as switching to cleaner energy sources. Each batch of CARBON credits is backed by an Impact Certificate.

Digital Assets

Impact Credits are digital assets that can be collected, bought, sold, traded, used as collateral, retired as offsets, or composed into other digital products and services.

Impact Credits are EIP1155 standard tokens that can be built into any financial transaction, capital allocation, government expenditure, business process, or consumer product.

Impact Credits bridge the verified state of physical world assets into digital finance and Web3 economies and can travel across blockchain networks.

Carbon Credits for Clean Energy

The switch to clean energy cooking devices has big impacts on greenhouse gas emissions, environmental destruction, energy poverty, gender equality, and lung diseases that are caused by smoke pollution.

This has the potential to impact on the lives of more than 2 billion people globally and to reduce carbon emissions on a gigaton scale, by 2035.

Households switch to clean energy cooking devices

A household in a developing country starts using a modern cooking device. Instead of charcoal, they now consume on average 30kg of sustainable biomass pellet fuel each month to cook their daily meals.

Impacts are measured digitally in real-time

Each cooking device has embedded sensors that transmit real-time usage data through GSM networks. Whenever a fuel purchase is made, the transaction is recorded as a claim on the ixo blockchain. When the household receives their fuel, this gets digitally recorded as a Delivery Claim.

Impacts are verified by an automated AI oracle

The claims and data are automatically evaluated using a Gold Standard methodology that is assisted by AI. Fuel consumption claims are correlated with delivery claims and the cooking device usage data, to detect any anomalies. The carbon emission reduction is calculated and gets reported as 340kg of CO2 emissions saved for the month.

Verified Emission Reduction certificates are issued

Digital certificates record the verifiable credentials of the cooking device, the project, delivery agents, and verification services. Proofs of the claims submitted and evidence data for all the transactions and measurements that have been performed are recorded in the certificate.
All these credentials and claims can be inspected and verified.

Impacts are tokenised as CARBON Credits

A batch of CARBON Credits is minted by the producer of the impacts, for each Impact Certificate. For instance, 340 CARBON Credits are minted for a verified emission reduction amount of 340kg CO2 that is backed up by the Impact Certificate.

CARBON Credits are used for offsetting

CARBON Credits are retired through a blockchain transaction that provides proof for claiming Carbon Offsets that can be used by enterprises and governments for their neutrality claims, and by individuals to offset their personal carbon footprint.
These credits may also be held, transferred, or traded like any other crypto token.