This project is meant to explore the design of a new carbon economy.

A carbon economy is the production, distribution, trade, consumption, taxation, and other means of managing carbon intensive goods and services.

The present economy lacks accountability for social and environmental costs of emiting carbon into the air.

Carbonomy allows these costs to be accounted for in a transparent way by using a public blockchain to track carbon though the economy, from crude oil extraction to consumption of carbon intensive goods.

By using blockchain technology as the platform to track carbon, economic tools such as carbon taxes, cap-and-trade, fee-and-dividend, and others can be easily integrated to account for carbon emissions.

So far, the project consists of a collection of Ethereum 'smart contracts', which can interact with each other and with external entities in an economy.

Below is an abstract diagram of how these contracts can interact with each other.