Panda - From Satellite Imagery to On-Chain Assets
January 16, 2023 · Allan Karanja
Often, carbon capture projects rely on “extrapolations” and future predictions rather than real-time data. This estimation method can lead to significant discrepancies between the claimed and actual carbon impact of a project.
Panda introduces a transparent and verifiable approach to measuring carbon capture using satellite data and blockchain technology. By leveraging satellite imagery, the application estimates the tree cover and carbon capture density of a specific piece of land. This data is bridged on-chain via Chainlink Oracles, where it is used to calculate carbon tokens based on the current market price. These tokens can then be minted and sold on the blockchain, ensuring the provenance and authenticity of every carbon credit.
How it works:
- Scan: Satellites estimate tree cover and carbon capture ability for a defined piece of land.
- Verify: Chainlink oracles fetch this data and feed it securely into a smart contract.
- Mint: The contract calculates the carbon score and mints tokens based on the live market price of carbon.