In this video, Peter Newell, impactChoice’s Director of Finance & Operations, demonstrates a practical use case of the CITEX (Climate Credit Issuing & Tracking Exchange). CITEX operates on a private permissioned blockchain and operates in much the same manner as the soon to be launched Natural Asset Exchange (NAE) which will be part of the EARTH Token project.

Demonstration of CITEX (Climate Credit Issuing & Tracking Exchange)

The NAE will however be based on a public permissioned blockchain platform that will enable certiﬁed Natural Capital Asset project developers to list their products (e.g. carbon credits, REC’s, metered output, etc.), on a unique Blockchain & Smart Contract platform, specifically designed for the Natural Asset trading market, at no cost.

In this demonstration, Peter shows us how a demand-side client interacts with the CITEX blockchain through a client Wallet Dashboard. In particular, he walks us through a typical Climate Credit transaction made by a Hotel Verde. The transaction occurs at the point in time when a guest of the hotel pays for their room stay. The guest is issued with a Climate Credit Certificate with a transaction ID that is recorded into the CITEX blockchain. Peter then goes on to show us what the certificate looks like, and walks through some of the other functionality of the client wallet, such as checking the history of prior transactions and certificates issued.

You will see the details of the transaction including the Blockhash, the Blocktime, the validity of the transaction along with other quantitative details of the transaction that are recorded on the blockchain and distributed through all the nodes on the network. The wallet also displays the identifying information of the supplier of the carbon asset, along with the issuing authority. From within the wallet, users are also able to access social media templates to assist them in publicly sharing the details of the transaction.