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Puro bridge - Simplified technical information for non-technical readers

Puro bridge – Simplified technical information for non-technical readers

Puro bridge - Simplified technical information for non-technical readers

The Toucan-Puro Bridge: Tokenizing and Retiring CO2 Removal Certificates

In this post, we explore the innovative Toucan-Puro Bridge V1, a software that allows partners to tokenize, detokenize, and retire CO2 Removal Certificates (CORCs) from the Puro Earth Registry.

Tokenization is the process of securely digitizing carbon credit information, enhancing it with additional data, and creating a transparent ownership trail. The Toucan-Puro bridge is unique in its two-way functionality and has been developed collaboratively to ensure a smooth and compliant user experience.

Users with a Puro account can seamlessly bridge their CORCs into TCO2 tokens, move them back to the Puro registry, retire them, or transfer them to other blockchain accounts. This flexibility removes bottlenecks in carbon finance.

The Toucan-Puro bridge implements safety, integrity, and compliance measures to prevent double issuance and ensure regulatory compliance. Users must complete KYC/AML procedures, and the Toucan team closely monitors all activity on the bridge.

The bridge also offers functionalities such as tokenization, detokenization, and retirement. Tokenization involves providing serial numbers of CORCs, creating a digital record (NFT) representing the batch of CORCs, and splitting them into individual TCO2 tokens. Detokenization transfers TCO2 tokens back to the Puro registry, while retirement permanently destroys the digital TCO2 counterparts.

This bridge is available to anyone with a Puro account and access to a blockchain account on the Polygon or Celo network.

Toucan is a technology company focused on bringing carbon credits onto energy-efficient blockchains, enabling a more efficient global carbon market.

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