Carbon Accounting

Client: Michael Elliott, JPMorgan <Michael.Elliott@jpmorgan.com>

Today’s personal bank accounts and banking apps all work by counting money, a simple technology that was created centuries ago as a social consensus to support trade. In the future, we are going to need a carbon economy that realistically prices everything in relation to the actual costs for the planet. Your task is to create a prototype of a new banking system, including personal savings and payment apps, where every transaction is based on the verified carbon cost of products and services. Consensus on carbon costs should allow for initial estimated quotes the first time a particular transaction is made, with better calibrated scientific evidence funded by arbitrage to increase eventual accuracy for integrity of the whole system.