Token-Based Carbon Credit Trading System
Summary
USPTO granted patent US12591896B2 to Sanjeewa Widyaratne, Dominik Widyaratne, and Lorenzo Widyaratne for a token-based carbon credit trading system. The system tracks vehicle distances via communication networks, generates carbon credits based on the distance data, and associates credits with user accounts for trading. The patent (24 claims, Application No. 18291481) was filed July 25, 2022.
What changed
USPTO issued Patent No. US12591896B2 for a token-based carbon credit trading system. The invention comprises a server computing device with hardware processor and memory that communicates with vehicles over a network, receives distance information from each vehicle, generates carbon credits based on the distance traveled, and associates those credits with user accounts. CPC classifications include G06Q 30/018 (commerce), G06Q 50/10 (utilities), and Y02P 90/84 (climate change mitigation). The patent contains 24 claims covering the method and system architecture.
This patent grant does not create regulatory obligations or compliance requirements for third parties. It establishes intellectual property rights that the patent holders may enforce against infringers. Technology companies developing carbon credit trading platforms, financial institutions exploring tokenized environmental markets, and investors in carbon offset technologies should be aware of this patent when designing competing systems to avoid potential infringement. There are no compliance deadlines, filing requirements, or penalties associated with this patent grant.
Source document (simplified)
System and method for token-based trading of carbon credits
Grant US12591896B2 Kind: B2 Mar 31, 2026
Inventors
Sanjeewa Widyaratne, Dominik Widyaratne, Lorenzo Widyaratne
Abstract
A system and method for trading of carbon credits is provided. The system comprises a server computing device comprising at least one hardware processor and memory; program instructions stored in the memory and executable in the server computing device that, when executed, direct the server computing device to: communicate with a plurality of vehicles over a communication network; receive distance information from a respective one of the vehicles detailing distance traveled by the respective one of the vehicles; generate a carbon credit based at least in part on the distance information received from the respective one of the vehicles; and associate the carbon credit with a user account associated with the respective one of the vehicles.
CPC Classifications
G06Q 30/018 G06Q 50/10 Y02P 90/84
Filing Date
2022-07-25
Application No.
18291481
Claims
24
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