The Challenge: Absence of an Energy Marketplace for Businesses to Trade their Carbon Credits

Malaysia-based energy-saving project, Blockchain Energy Saving Consortium, or BESC, was initiated to help create a more sustainable future by mitigating climate change. It helps finance energy-saving projects while motivating individuals and organizations to participate in measures to drive our world towards energy-efficient processes.

One of BESC’s major concerns was there were no energy tracking platforms in the region to promote energy savings. Hence, BESC proposed a solution to create a platform where businesses could track their energy consumption or generation and efficiently trade their energy savings as carbon credits. The challenge, however, was to devise a way for businesses to record their carbon credits and sell or buy any desired quantity of the same.

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