Natural Asset Smart Contract Standard to enable markets for ecosystem services.
This project, developed for ETH Global's HackFS 2024, is based in the creation of a new standard for Natural Asset Smart Contracts using ERC-1155 tokens to represent natural assets and their associated ecosystem services. The standard includes mechanisms for recording historical cummulative effects, baseline data, funding, work being executed for restoration or conservation, time-series data to monitor the changes in the ecosystem, and the registry of environmental commodities like carbon, biodiversity, soil quality and water availability. NASCs are categorized into 4 types: Project-Based, Municipal, Basin, and Nation State.
The project is built using the ERC-1155 standard as a base to construct NASC, Lighthouse for data storage, flutter for the front end, NodeJS and Firebase functions as middleware. The NASC designs token spaces reserving certain tokenIds to store different types of data, it also accounts for having multiple providers of stratified data (Satellite, Drone and Field Observations) so it can assure that the data is reliable.