Hub Culture logo

Ultra Carbon, a Tokenised Asset Object (TAO), Makes Carbon Trading Available to Everyone

< Previous | Main | Next >

25th Jun 2018




Article Image
Hub Culture Announces Ultra Carbon, its first Tokenised Asset Object (TAO).

At the Transition Monaco Forum focused on scaling renewable energy and climate solutions, Hub Culture has announced Ultra Carbon, a digitised carbon token running on the Ultra network. Ultra is a new system for tokenised assets powered by Ven, the world’s oldest and most stable digital currency. Ultra Carbon is available through the Ultra tokenised asset exchange, and from Hub Culture a global collaboration network serving over 60,000 members.

Similar in structure to the Ven digital currency, Ultra Carbon (ticker: uCRB) enables real-time P2P exchange of a digital carbon asset and an easy to use purchase interface.  It features 100% asset backing of the tokenised asset, with underlying value reserves linked to both depreciating ICE EUA Carbon futures and appreciating real world carbon assets, including carbon storage mechanisms like forests.  Carbon assets are a current feature of the asset backing reserve for Ven, which features about 7% carbon in its genetic makeup.

Ultra Carbon can be issued and traded through a network of Hub Culture Authorities, companies and organisations with the ability to issue tokenised assets through the Ultra System.  In addition to P2P exchange and Buy/Sell capabilities, Ultra Carbon will soon trade in pairs against over a dozen tokenised fiat currencies. 

“Ultra Carbon brings carbon to life for anyone with access to the Internet, making it very easy to obtain and trade a carbon TAO. We are delivering new mechanisms to scale funding for climate by bringing more liquidity sources to the global carbon markets, both at the institutional level and the level of families and consumers who care about their carbon impacts.” said Stan Stalnaker, Chief Strategy Officer of Hub Culture, which manages Ultra and Ven. “As the first tokenised asset on the Ultra system, Ultra Carbon is the premier unit in a coming range of TAOs that can be easily converted using Ven as a base interchange value translator. The ease and simplicity of a purchase, with cloud security, instant execution and delivery, and global compatibility, furthers carbon as an asset class. This makes carbon more useful and meaningful for everyone, especially smaller businesses who want to hold carbon as an asset but who don’t have access to the institutional carbon trading markets.

Companies and regular individuals with HubID verification and domiciled from approved jurisdictions are able to buy, hold or sell Ultra Carbon. Hub Culture Authorities are able to issue core liquidity to the system via HubCulture.com, increasing the supply of carbon in the market and subject to prevailing market prices.

A real-time audit solution for Ultra Carbon maintains cryptographic records of all transactions on the Open Audit Initiative (est. 2015, https://oai.io). This independent data ‘blockbox’ provides complete and resolute histories for Ultra, and is in the process of being extended to blockchain protocols through bundled data blocks called Specks. Insured reserves for Ultra Carbon are also available for institutional level clients.

***********

About Hub Culture- Hub Culture is a global collaboration network building infrastructure to collaborate in a virtual state.  Hub Culture features an ecosystem of powerful technologies powered by Ven.  HubID provides resolute digital identity solutions to all members and covers personas, companies and even objects. Zeke is an artificial intelligence project linked to an emerging mesh governance system.  Ultra is a system for tokenising and trading assets of variable types, and resolves around blockchain strategies for data management. Since 2004 over 40 Hub Culture Pavilions and spaces have appeared worldwide as an environment for members of the network, which include many of the world’s most influential and innovative people. For more, join HubCulture.com

About Ven- Ven is the world’s longest running and most stable digital asset, and was established in 2007 to provide services to the global Hub Culture community. It has long been a pioneer in the digital asset space, enabling a range of new technologies to enhance the lives of its global network of members. Ven was the first digital currency to be used in commodity trades in 2011 and 2012, and has periodically been listed on major FX exchanges. It is the world’s most stable coin, with a 10 year trading track record and other attributes available at https://ven.vc

About Transition Monaco Forum:

Transition Monaco Forum is a new global platform committed to accelerating the transition towards a clean future. Under the High Patronage of H.S.H. Prince Albert II, the inaugural conference will convene global business leaders, investors, policymakers, cleantech experts and innovators in Monaco from June 26-27, 2018. The objectives of this initiative are to form a hub of investors dedicated to financing the ecological and energy transition and to mobilize key stakeholders across all sectors and industries to find concrete solutions for businesses to develop sustainably. For more information about Transition Monaco Forum, visit our website and follow us on Twitter.