Page 24 - Georgia Forestry - Issue 3 - Summer 2024

record of transactions related to forest carbon. Once completed, transactions cannot be altered and will constitute a permanent record of how carbon is being transacted. That includes every- thing from carbon that is being stored in wooded cells to emissions generated
throughout the supply chain. Using the smart contract system within blockchain, the calculation and verification of carbon emissions at each stage can be automated.
Blockchain will also serve to facilitate trading, specifically for forest carbon-off- set credits. Companies can earn credits by
sequestering carbon through sustainable forestry practices or reducing emissions through efficient transportation meth- ods. These credits can be bought or sold on a blockchain-based marketplace.
Everyone in the supply chain, from producers to retailers to consumers,
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THE CUMULATIVE CARBON BENEFIT: CARBON CAPTURE RATE OVER TIME
ANNUAL CHANGES TO U.S. FOREST AND HARVEST WOOD PRODUCTS SINK (MMT OF CO2e)
EACH YEAR, FORESTS CAPTURE ON AVERAGE AN ADDITIONAL 560 MILLION METRIC TONS OF CO2e, WHICH HAS AN IMPACT EQUIVALENT TO TAKING 50% OF AMERICAN CARS OFF THE ROAD
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