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

Research output: Contribution to journalArticlepeer-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 languageEnglish
Article number118787
JournalApplied Energy
Volume313
DOIs
Publication statusPublished - 2022 May 1

Keywords

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

ASJC Scopus subject areas

  • Building and Construction
  • Mechanical Engineering
  • Energy(all)
  • Management, Monitoring, Policy and Law

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