Here at LoyaltyX we’re super-excited about everything blockchain, especially when it has the potential to save the planet using loyalty principles.
Canadian start-up CarbonX (Personal Carbon Trading Inc) aim to recruit millions of people in the fight against climate change by rewarding individuals for responsible carbon consumption. To support their ambition they’ve launched the world’s first global platform for peer-to-peer carbon trading, utilising the Ethereum network.
CarbonX will achieve this by investing in compliant carbon reduction projects and re-casting generated offsets as ERC20 tokens, then distributing them through an open-loop style loyalty rewards program.
Participating retailers and brands will then be able to offer CarbonX Tokens (CxT) to consumers as an incentive for making carbon friendly decisions. CarbonX provide the example of a member being rewarded for joining a rideshare instead of driving their own car to work, but it could also be used by conservation funds to encourage volunteer tree-planting, or governments to reward households for switching to low energy lightbulbs.
Let’s face it, governments have continually failed in their approaches towards reducing greenhouse gas omissions, with one big country (not mentioning any names, USA) actually backing out of major global agreements such as the Paris Agreement, while their east coast gets smashed by record strength hurricanes (again and again).
Placing the onus on individuals and rewarding them for their efforts is a clever design which has worked well in generating behavioural change and deeper engagement in other industries. Can CarbonX save the world? We certain hope so.
Philip Shelper is Chief Design Officer & Co-Founder of LoyaltyX, an experimental loyalty agency and the program operator of Unify Rewards. He is also CEO & Founder of Loyalty & Reward Co, a leading loyalty management consulting agency.
Let’s connect! https://au.linkedin.com/in/philipshelper