BESC is a private-permissioned consortium-based blockchain [Platform as a Service (PaaS)] to enable energy project owners to keep track of their energy savings (energy efficiency) and/or energy generation (renewable energy) and able to provide shared- savings incentives and/or payment settlement via blockchain network.

 

BESC employs decentralized storage (IPFS) to store the energy performance data and uses smart contract to perform transaction settlement. With the data stored on the blockchain network, which is immutable and secured, the energy data can be converted into the carbon emission data.  The independent third-party auditor can use the collected data for verification and certification of the carbon emissions saving to produce the certification for the purpose of carbon credit trading.

 

The investors can fund the project through Open Green Fund (OGF) with the purchase of the security tokens (OGF token) in exchange for the stake of the project interest repayment interest returns.