Smart contracts also open up carbon trading to a wider range of participants, including smaller businesses and individuals who may not have been able to engage in the traditional carbon offset market. By reducing the need for intermediaries and simplifying the transaction process, smart contracts lower the barriers to entry for smaller players.
This democratization of carbon trading is important because it allows more businesses and individuals to take part in offsetting emissions as pointed out by leaders such as Gregory Keough. With smart contracts, even small-scale projects, such as local carbon offset initiatives or individual tree planting programs, can be included in the global carbon market. This increased accessibility helps create a more diverse and inclusive market, allowing a broader array of stakeholders to contribute to climate action.
