Eduard Romulus Goean

The aim of this research is developing a blockchain-based financial ecosystem in combination with smart contracts to enable transparent, traceable, and secure peer-to-peer financial transactions and services. To achieve this, we have developed an innovative Carbon Tokenomics Model (CTM) to help finance climate projects from funds raised in the VE, while simultaneously remedying the shortcomings of previous approaches. 

Our proposed CTM uses blockchain technology to generate, store, trade, and erase carbon credits, and to manage an efficient incentive mechanism that is supported by artificial intelligence, with the goal of creating traceable, real, and permanent climate finance investments. 

A promising approach to utilizing blockchain for carbon credits in the tourism sector is to employ a multi-layered token system to make the tokenized asset tradable in a transparent and secure manner. Our CTM model involves creating three types of tokens which are interlinked to each other with its specific criteria to avail and make use of a specific token for trading (either in crypto or fiat money). 

Generally, the process of tokenization, wherein a digital token represents complete or fractional ownership of an asset, mirrors the division of ownership into shares found in traditional stock markets. This mechanism empowers any entity to fragment ownership of a controlled asset in a verifiable manner. By enabling the tokenization of diverse assets, financial markets become more accessible, offering investors a broader spectrum of investment opportunities.

This project seeks to leverage blockchain for its inherent transparency, immutability, and decentralization, which are pivotal in mitigating risks like greenwashing and double counting in carbon markets. Advanced and innovative consensus mechanisms such as Proof-of-Commitment (PoC) and Delegated Proof-of-Commitment (DPoC) are explored to optimize efficiency and environmental sustainability. 

Furthermore, the integration of Post-Quantum Cryptography promises enhanced security against evolving cyber threats. By addressing these blockchain-specific challenges, the project aims to establish a reliable and scalable blockchain infrastructure, making it a suitable tool for resolving issues in carbon offsetting and advancing the VE towards ’net zero’ objectives. 

Passenger aviation carbon footprint calculators often lack breadth, accuracy, transparency, and communication effectiveness, leading to underestimations of environmental impact and mistrust. This study addresses these gaps by developing a comprehensive methodology that broadens scope and improves accuracy. 

It incorporates nitrogen oxides, water vapour, contrail-induced cloudiness, upstream emissions from in-flight services, and life cycle emissions from aircraft and airports, offering a complete carbon footprint assessment. Accuracy is improved through detailed modelling of flight distance, fuel consumption, and emissions allocation adjusted for passenger class, luggage, and cargo. Historical adjustment factors refine pre-flight estimates by integrating real-world variations. 

The tool outputs a full emissions breakdown by source, offering unparalleled granularity and clarity. Validated against over 30,000 historical flights, the historical adjustment factor model achieves ~0.5% mean squared percentage error and shows current methods underestimate emissions. This study sets a standard for aviation carbon footprint calculators by enabling transparent, dynamic assessments for industry stakeholders.

Spa and wellness centres constitute a fundamental aspect of contemporary health and lifestyle infrastructure, yet their environmental impacts remain under-assessed. This study presents SPA-DEC, a dynamic emissions calculator tailored to spa and wellness facilities. Combining metered data (e.g. energy, water) with normalised non-metered sources (e.g. waste, staff travel), SPA-DEC calculates per-visitor emissions across Scopes 1, 2, and 3. Its modular structure, temporal allocation algorithm, comprehensive scope, and compatibility with any data maturity level and size make it universally applicable. The methodology aligns with international standards ISO 14064, ISO 14040/44, and the GHG Protocol. 

Validated on Therme Bucharest, one of the world’s largest thermal wellness centres, SPA-DEC demonstrated its capacity to handle high-resolution data and revealed that a typical 4-hour visit results of 5.88kg CO₂e. SPA-DEC’s temporal analysis showed daily and seasonal emission patterns, while it’s scenario modelling capability showed that renewable energy sources at the facility (geothermal and photovoltaic) reduced emissions by 32% in 2024 compared with a grid and gas-only scenario. 

SPA-DEC’s detailed scope and visitor-based allocation enable facilities to identify emission hotspots, benchmark performance, and improve transparency in sustainable performance. The per-visitor, time-based output supports carbon offsetting opportunities. SPA-DEC offers a scalable and transparent framework and tool for decarbonising the spa and wellness industry.