TOKENIZATION OF CARBON CREDIT IN INDONESIA

Abstract

The aim of this study is to evaluate different blockchain based carbon trading platforms and analyze the blockchain that the platform uses. The blockchains that are evaluated are KlimaDAO which uses the Polygon blockchain, Toucan Protocol which uses the Base blockchain, and The CarbonX which uses the Ethereum blockchain. The research problem addresses how Indonesia has not implemented a peer-to-peer (P2P) way of trading carbon credits. The methodology is done by using a framework called MF-WDM framework (Multi-Factor Weighted Decision Matrix ), along with using a blockchain analysis platform called Dune Analytics to get the data of the parameters of the analyzed blockchain. The findings confirm that Base blockchain’s parameters are the most well rounded and well performed compared to the others, which shows that Toucan Protocol is performed better than the other platforms. This study provides insights for others to develop a blockchain based carbon trading platform, or to use the recommended platform to perform a P2P carbon trading.