Universal Protocol Alliance 2020 Year-End Report
Driving the future of blockchain adoption with the world’s first tradable carbon token on a public blockchain, and a net-zero emissions wrapped Bitcoin.
Over the last 3 months, The Universal Protocol Alliance has been focused on delivering on our initial promise of universal tokenization. That is why our path has led us to where we are now — digitizing new asset classes that can drive the next 100 Million users of blockchain technology. Our focus has been on launching two new products that will help address the negative externalities of environmental degradation and a runaway greenhouse effect. This is what led us to create Universal Carbon (UPC02) and Bitcoin Zero (BTC0).
We want to democratize access and empower everyone who wants to help solve one of the most pressing and defining issues of the rest of our lives — adverse climate change. And we want to enable others — individuals, digital wallets, and exchanges — that broaden the reach and further democratize the access. By digitizing and tokenizing carbon, we can begin to establish a global reference point and begin to work this into everyone’s portfolios, while driving a sea change in how we economically address the social and environmental costs of carbon.
Universal Carbon — UPC02
In November, we launched the world’s first tradable carbon token on a public blockchain, Universal Carbon (UPCO2), which can be bought and held as an investment, or retired to offset an individual’s carbon footprint. Each token represents one tonne of CO2 emissions that have been averted by a certified REDD+ project preventing rainforest loss. Consumers are protecting forest that sequesters carbon emissions, all while maintaining critical rainforest habitats globally, leading to increases in biodiversity. UPC02 is backed by a Voluntary Carbon Unit, a digital certificate issued by Verra — an international standards agency.
“This year may go down as the key inflection point for climate change. The year it went from a far-off issue enshrined in distant accords like Kyoto and Paris, to an existential threat affecting the lives of tens of millions of people. In recent months, we’ve seen Australia and California on fire, ever more powerful hurricanes, the U.S. president-elect Joe Biden announcing a Climate Administration, and companies such as Apple, Microsoft, and Nike voluntarily committing to carbon neutrality,” says co-founder of UPA, JP Thieriot.
Bitcoin Zero — BTC0
After we launched UPC02, we realized that in digitizing carbon credits we have a tool to address broader opportunities. Simply put we can use a digital carbon credit (UPCO2) to then allow any person, entity, product, or platform to itself also become net-zero emissions. Just as when we digitized music it enabled the iPod that allowed our music to be portable, iTunes which allowed us to buy and download it, and eventually, real-time music streaming globally, so by digitizing carbon credit we can allow any other digital product, wallet, exchange, etc. to also combat their own negative carbon footprints.
We decided to prove this by creating Bitcoin Zero — real bitcoin in an ERC-20 wrapper made net zero emissions by the retiring of UPCO2 tokens at minting., A single Bitcoin transaction uses the same amount of power as a typical U.S. household use over 23 days. While the Bitcoin Network is increasingly turning to renewable energy sources, its carbon footprint remains a major drawback to many. That is why we launched BTC0.
Bitcoin Zero highlights:
- Consists of 1 Bitcoin and 10 UPCO2 tokens burned and the underlying carbon credits retired at minting to compensate for its carbon footprint.
- Allows Bitcoin to be traded on the more energy-efficient Ethereum Network.
- Each UPCO2 token represents 1 tonne of CO2 averted by certified REDD+ rainforest projects.
- Fully substantiated Token and transparently minted.
- Issued by Universal Protocol Alliance
BTC0 is backed on a 1:1 basis by Bitcoin held in custody and the minting and substantiation process is transparently written to the Ethereum Network. You can see the assets and liabilities underpinning the Token in real-time here.
Community Updates
In order to make our project more accessible and understandable, we have relaunched the www.universalprotocol.io website and plan to post important press releases and news there on a regular basis. The new website also serves as the main launching pad for our products like UPCO2 and BTC0 including for other wallets and exchanges that may want to list any of them. If you are associated with any other blockchain or DeFi projects that want to help democratize access to these products please go there and let us know.
In addition, in an effort to create valuable and meaningful content for our global community, we have made the decision to switch to quarterly reports as opposed to monthly reports. We are excited to continue publishing project updates as they occur.
Meanwhile, we now have Product, Distribution, and Marketing teams hard at work on additional initiatives to further elevate the UPA product family, listings, and awareness. You should see more news from us on a regular basis now.
Our next Quarterly Update will be ready on April 2, 2021.
News Across the UP Alliance
Uphold
Blockchain Coalition Launches Tradeable Carbon Credit Token. #TradeTalks: The world’s first tradeable carbon token on a public blockchain. Crypto Exchange Uphold is Standing By Ripple’s XRP, Here’s Why. Why Joe Biden Could Be Big For Bitcoin.
Bittrex Global
Crypto Exchange Lists Tokenized Apple, Amazon, Tesla Stocks for Trading.
Ledger
Ledger Adds Bitcoin Bounty and New Data Security After Hack
CertiK
CertiK Deploys Automated Smart Contract Auditing Tool
