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Comment by jefftk | Hacker News Reader

> proof-of-carbon-emission-reductions

That one is fun! First, I credibly claim to have plans to release ridiculous quantities of CO2, and then you negotiate with me to convince me not to. Then we can split the coins.

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This is being done right now in the Amazon without blockchain. First you start logging a lot more trees. Then the world is outraged at how many trees you cut, and you begrundgingly go to the negotiation table to figure out the carbon subsidies you're going to get in exchange for not cutting those trees. But wouldn't you know, estimates of how many trees you're able to not cut per year are based on how many trees you just cut so you get way more than you would've in the first place.

Exchanging money for not doing things is fun.

Sounds like the classic https://en.wikipedia.org/wiki/Protection_racket on a global scale.

It’s like proof of stake - you have to prove you have a track record of producing the emissions.

Burn tires for a year then reap the reductions the next.

Sure - that’s pretty much how it works. If you own and can defend a jurisdiction where you can do that, other people will likely pay or trade things with you to stop.

A cheaper way to deal with you is to embargo/tariff your exports, until you come back to the negotiating table, hat in hand.

Not sure that always works.

Hang on, Fidel Castro is on the other line.

That was a life-or-death political issue for the communist party of Cuba (USSR subsidies also mitigated some of the damage the embargo caused). This is just a question of money - which is far more tractable.

Seems like there are some pretty large blocs who won’t embargo you these days.

That’s how the current carbon offset credit system works.

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