Physical commodities, carbon credits, and receivables represented as ledger claims tied to the real thing they stand for — where provenance, retirement, and settlement are one tamper-evident record. Double-counting and phantom tonnes are defeated by construction, not by attestation.
Each object is bound to the underlying it represents, with provenance carried on the ledger so the claim and the thing cannot silently diverge.
A commodity token references the warehouse warrant, assay, or receipt that evidences the specific lot it represents, so the claim is tied to identified inventory rather than an abstract quantity. The token points at a lot, not a category.
Purity, grade, origin, and delivery location are carried as attributes on the object, so fungibility is defined precisely rather than assumed. A ton of one grade cannot be settled as a ton of another.
A carbon credit references its issuing project, vintage, methodology, and registry serial, so a tonne of abatement is traceable to the activity that produced it. The credit carries its own provenance.
Trade receivables are represented as claims tied to the underlying invoice and obligor, with maturity and terms encoded. The financeable asset and its evidence are one object.
Every issuance, transfer, and retirement is sequenced on a tamper-evident ledger so the same unit cannot be sold or claimed twice.
A carbon credit or warehouse unit exists as one object with one issuance event, so it cannot be represented as two claims across venues. Double-issuance is prevented rather than reconciled after the fact.
Retiring a carbon credit extinguishes the object in a recorded, irreversible event, so a retired tonne cannot re-enter circulation. Retirement is a ledger state, not a certificate that can be reused.
For physical commodities, custody transfers and location changes are recorded in sequence, giving a continuous provenance from origin to holder. The custody history is present rather than assembled from bills of lading.
Assays, MRV reports, and third-party verifications are anchored to the object as timestamped references, keeping the evidence with the claim. Diligence travels with the asset across every transfer.
Delivery-versus-payment binds the commodity or credit to the cash leg, removing the delivery-and-payment gap that plagues physical trade.
The commodity or carbon claim and the CBDC payment settle in one indivisible operation, so neither party is exposed to having delivered without being paid. Principal risk in physical trade is structurally removed.
Release against inspection, quality confirmation, or delivery milestones is modeled as a condition on settlement, so payment follows performance. The escrow logic is executable rather than administered.
A receivable can be sold or pledged with atomic transfer of the claim against advance of CBDC, and repayment tracked against the encoded maturity. Financing settles without a gap between assignment and funding.
Offsetting positions and deliveries can be netted on one ledger before settlement, reducing gross flows while keeping each leg auditable. Netting does not obscure the underlying entitlements.
Storage, spoilage, coupons on receivables, and credit corrections are handled as native ledger events tied to each object.
Warehouse fees, insurance, and financing carry can be applied as servicing charges tied to the holding period. The cost of carry is reflected in the object rather than tracked beside it.
Discount, interest, and repayment on financed receivables execute against encoded terms, with default identifiable at the moment a payment is missed. The obligor's performance is a ledger state.
Where an underlying registry reverses or corrects a carbon credit, the linked object can be flagged or extinguished so the on-chain claim tracks the authoritative source. The token does not outlive its underlying's validity.
Physical delivery against a warrant extinguishes the token as the goods leave the system, keeping outstanding claims equal to real inventory. The record shrinks as the world does.
Commodity and carbon records are strategic data, so control, integrity, and jurisdiction are designed in rather than delegated.
Holders control their commodity and credit positions with their own keys, so the record reflects genuine control rather than a broker's internal book. The market does not depend on an intermediary's solvency to know who holds what.
Provenance and retirement records must remain verifiable for the life of climate and trade obligations, so they are signed under ML-DSA-65. A retirement claimed today stays provable decades later.
Registries of national resource and carbon data reside within domestic infrastructure, keeping strategic environmental and trade data under national jurisdiction. Sovereign resource records do not leave the country by default.
Regulators and buyers verify issuance and retirement against the tamper-evident record without write access, giving carbon claims defensible integrity. An offset's validity is verifiable, not merely asserted.