Registry

What is a registry?

A registry is the system that issues environmental credits, assigns each credit a unique identifier, tracks ownership changes, and records retirements. Its core function is preventing double counting — ensuring the same environmental benefit cannot be claimed by more than one buyer.

For how the registry relates to standards, methodologies, digital Measurement, Reporting and Verification (dMRV), independent assurance, and buyers, see Credit Ecosystem Roles.

How Carrot's registry works

Credits on Carrot are issued as tokens on a public blockchain. Each credit carries an immutable record that links the physical event that originated it — a verified mass of material collected, sorted, or processed — through the verification and issuance steps to its eventual retirement.

This record is permanent and publicly accessible. Anyone can trace a credit's full history independently, without relying on Carrot or any other intermediary to provide the data.

What the Registry covers

The Registry is the home for the credit lifecycle once verified environmental outcomes are ready to become market-facing assets. It covers:

• Tokenization — RecycledID and GasID certificates back fungible credit tokens such as TRCs and TCCs.
• Fungible credit tracking — Credit balances are tracked by certificate so available, purchased, and retired amounts cannot exceed the verified backing amount.
• Purchase records — Credit purchases create permanent records that connect buyers, payment, certificates, and purchased amounts.
• Retirement records — Credit retirement burns the claimed credit amount and creates a permanent receipt for the environmental claim.
• Wallet and custody flows — Wallets interact with credit balances, receipts, and settlement flows while soulbound evidence remains permanently anchored to the registry infrastructure.
• Settlement layer — Purchase and retirement flows connect payment, inventory allocation, rewards distribution, and permanent audit records.

The Registry does not decide whether a physical activity qualifies for credit issuance. That decision comes from approved methodology framework criteria executed through dMRV. The Registry records the resulting credit lifecycle: issuance, ownership-related activity, purchase, retirement, and the receipts that make those actions auditable.

Why blockchain?

Three properties of blockchain infrastructure matter directly to credit buyers:

• Public and permanent — Credit records exist on a public ledger, not a private database controlled by a single organization. The data persists regardless of what happens to any individual company or service.
• Independently verifiable — Any auditor, regulator, or buyer can confirm the integrity of a credit — its issuance, ownership history, and retirement status — without requiring Carrot's cooperation or access to proprietary systems.
• Programmable — Smart contracts distribute credit sale proceeds automatically to supply chain participants based on their verified contributions. This removes manual intermediation from revenue distribution.

Registry, Standard, and Third-Party Verification

Carrot fulfills three distinct functions within its ecosystem. The registry issues and tracks credits. The standard governs the methodologies that determine how environmental benefits are measured and which activities qualify for credit issuance. Third-party verification ensures that every level of the ecosystem — from facility audits to automated dMRV execution — is validated by third parties.

These functions are complementary but separate. The registry is infrastructure — it must be reliable, transparent, and tamper-resistant. The standard is governance — it must be scientifically rigorous and operationally enforceable. Third-party verification is assurance — it must be performed by parties independent from Carrot's operations. Carrot operates the registry and governs methodology quality through the Carrot dMRV Standard; third-party verification is conducted by external, independent auditors and Validation/Verification Bodies (VVBs).