Trading Proof of Removal Rights

This post will be part of a new category on this blog. I want to keep that category name for myself right now, so it will be just without category.

It is a work in progress. In its early stages.

The last CO2 emission records are bleak. Over 36 billion emissions only last year. Highest ever increase year on year. Did humanity not notice that there might be a slight problem of overheating the planet by increasing emissions like that?

Of course. Everyone knows. So why do we still see this failure of reducing emissions? Why do we still see the problem getting worse and worse?

My theory is that humans, in aggregate, are just too dumb to be in charge. We know just enough to have the ability to dig out and burn fossil fuels, but are not quite smart enough to refrain from doing so.

While I have been aware of this problem for quite some time and have also developed a solution that would solve it in one Last Week with time left to spare, I am not quite convinced that humanity is smart enough to adapt such a simple solution.

So that will very likely leave future generations with lots of CO2 in the atmosphere and ever less of the fossil fuel treasure the present generation is burning in their cars. Things are going to get a lot worse before the emissions stabilize and then go negative.

That will leave a big job to clean up the mess. And the market dealing with that job is still in its infancy. Until April 2022 all of humanity has financed only 10,000 tons of carbon removal from the atmosphere.

Comparing to Bitcoin, carbon removal is where Bitcoin was in about 2010. Just getting the whole thing started.

If you had a time machine, would you go Back to the Future and buy a sports almanac?

Or would it not make more sense to go back to 2009, January, and download the Bitcoin client to start mining while there is no competition?

Can we build a reverse time machine? One where people living now tap the resources of 2035 to start removing carbon from the atmosphere at scale?

If we can do so, would Bitcoin be needed as a part of the solution?

Published by kflenz

Professor at Aoyama Gakuin University, Tokyo. Author of Lenz Blog (since 2003, lenzblog.com).

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