earthkroner

WHAT

• earthkroner is both a new carbon market and a fungible currency on its own

• ek (earthkroner) differs from other carbon markets by not needing to know who [is guilty of the emissions], just where and how much

• Relying on satellite-based emission tracking that covers the entire planet

• Wherever emission reductions are being made there is also real money to be made by smart investors and entrepreneurs

WHY

• By basing the system purely on measurements, we ensure that actions are driven by real emissions and rewards are issued for measured reductions

• Transparency: it's all about the data. Everyone can see it. Everyone can participate. No obscure carbon credits, just tangible reductions.

• The ek system encourages entrepreneurship and ownership: By unleashing the dynamism of capitalism to solve the problem the earth will benefit.

HOW

• The price of the coin is loosely tethered to the price of carbon on existing compliance markets. 1 coin = 1 ton CO2e

• Value of the coin is regulated by a governing body able to mint more coin or buy back as needed to achieve the price target: stable value that tracks the price of carbon

• Coins can be used to buy contracts tied to specific geo-locations (earth pixels, roughly 2kmx2km squares)

• When emissions are decreasing, a contract issues dividends via freshly minted coin (and yes, when emissions increase there will be a loss)

• The emission tracking is made possible through emerging satellite-based technology that continuously estimate emissions rates on the ground based on observed concentrations and air movements

• earthkroner also drives change by funding emission reduction projects that gets tied to contracts over larger areas such as cities