Carbon credits purchased in the voluntary carbon market allow unavoidable emissions, such as international flights for essential travel, to be offset by an equivalent climate benefit, such as avoiding emissions from tropical deforestation. However, many concerns regarding the credibility of these offsetting claims have been raised. Moreover, the credit market is manual, therefore inefficient and unscalable, and non-fungible, therefore illiquid. To address these issues, we propose an efficient digital methodology that combines remote sensing data, modern econometric techniques, and on-chain certification and trading to create a new digital carbon asset (the PACT stablecoin) against which carbon offsetting claims can be transparently verified. PACT stablecoins are produced as outputs from a reproducible computational pipeline for estimating the climate benefits of carbon offset projects that not only quantifies the CO2 emissions involved, but also allows for similar credits to be pooled based on their co-benefits such as biodiversity and jurisdictional attributes, increasing liquidity through fungibility within pools. We implement and evaluate the PACT carbon stablecoin on the Tezos blockchain, which is designed to facilitate low-cost transactions while minimizing environmental impact. Our implementation includes a contract for a registry for tracking issuance, ownership, and retirement of credits, and a custodian contract to bridge on-chain and off-chain transactions. Our work brings scale and trust to the voluntary carbon market by providing a transparent, scalable, and efficient framework for high-integrity carbon credit transactions.

This paper reports on an experiment in network protocol design: we use novel rigorous techniques in the design process of a new protocol, in a close collaboration between systems and theory researchers. The protocol is a media access control (MAC) protocol for the SWIFT optical network, which uses optical switching and wavelength striping to provide very high bandwidth packet- switched interconnects. The use of optical switching (and the lack of optical buffering) means that the protocol must control the switch within hard timing constraints. We use higher-order logic to express the protocol design, in the general-purpose HOL automated proof assistant. The specification is thus completely precise, but still concise, readable, and without accidental overspecification. Further, we test conformance between the specification and two implementations of the protocol: an NS-2 simulation model and the VHDL code of the network hardware. This involves: (1) proving, within HOL, that the specification is equivalent to an algorithmically-checkable version; (2) using automatic code-extraction to generate a testing oracle; and (3) applying that oracle to traces of the implementation. This design-time use of rigorous methods has resulted in a protocol that is better specified and more correct than it would otherwise be, with relatively little effort.

E-business organizations commonly trade services together with quality of service (QoS) guarantees that are often dynamically agreed upon prior to service provisioning. Violating agreed QoS levels incurs penalties and hence service providers agree to QoS requests only after assessing the resource availability. Thus the system should, in addition to providing the services: (i) monitor resource availability, (ii) assess the affordability of a requested QoS level, and (iii) adapt autonomically to QoS perturbations which might undermine any assumptions made during assessment. This paper will focus on building such a system for reliably multicasting messages of arbitrary size over a loss-prone network of arbitrary topology such as the Internet. The QoS metrics of interest will be reliability, latency and relative latency. We meet the objectives (i)-(iii) by describing a network monitoring scheme, developing two multicast protocols, and by analytically estimating the achievable latencies and reliability in terms of controllable protocol parameters. Protocol development involves extending in two distinct ways an existing QoS-adaptive protocol designed for a single packet. Analytical estimation makes use of experimentally justified approximations and their impact is evaluated through simulations. As the protocol extension approaches are complementary in nature, so are the application contexts they are found best suited to; e.g., one is suited to small messages while the other to large messages