Hyperledger | Blockchain SIG | Blockchain TED Videos | IBM Blockchain for Diamond Ind | RUBAC Video | RUBAC Projects | Disclaimer | Copyright
Home | Review Minutes | A: Our Inner West 2036 | B: Community Strategic Plan | C: Vision Statement | D: 5 Strategic Directions | E: Key Community Challenges 

Mon 11 Jul 2022								Recipient: 6132MCc1
REF: ACBNGBr2		IN THE PUBLIC INTEREST				Y/R: Rate-payers & Councils


Councillor							E: mail@monash.vic.gov.au
MONASH COUNCIL							M:{61}(4}
293 Springvale Rd GLEN WAVERLY 3150 				P: {61}(3) 9518 3555
PO Box 1 GLEN WAVERLY 3150					W: Monash Councillors

Dear Councillor						cc	Australian Legislators 
								Interested Parties eg Rate-payers 

		ANZ STABLECOIN A$DC USED TO BUY 'TOKENISED' CARBON CREDIT UNITS

Further to our email 03 Jun 2022 "Many Councils have Electricity as highest source of Greenhouse Gas 
Emissions" we thought you may be interested in how the banks appear to be stimulating activities with 
Crypto-currencies which may encourage Councils to follow suit

From our research into Sustainability, Climate Change issues over the last 25 years and Crypto-currencies 
recent articles include:

2022-06-27 ANZ stablecoin A$DC used to buy 'tokenised' carbon credit units

2022-03-24 ANZ-the-first-bank-to-mint-an-australian-dollar-stablecoin-the-A$DC

"ANZ Bank's stablecoin - the A$DC - has been used to buy a digital representation of Australian carbon 
credits, in a deal that points to cryptocurrency playing a central role as new markets drive the energy 
transition.

In the innovative deal, private investor Victor Smorgon Group used A$DC to purchase Australian Carbon 
Credit Units (ACCUs) that had been "tokenised" by BetaCarbon, a carbon trading platform, to create digital
security tokens known as BCAUs.

It was the second collaboration between Victor Smorgon Group, ANZ and Zerocap, after the A$DC was 
used in March 2022 to transfer Australian dollars into the crypto ecosystem.

This reduced foreign exchange costs and risks for Victor Smorgon.

The latest deal comes as demand for carbon credits is expected to grow, with higher prices set to
encourage more green energy projects.

Using the ethereum blockchain to trade carbon credits could broaden access to emerging carbon markets
to retail investors. 

The technology could, in the future, be used to facilitate micropayments to allow alternative energy to be
traded through apps.

Using ANZ's Australian dollar stablecoin allowed settlement to occur "on chain"

That is, payment and transfer of the BCAUs occurred on ethereum, without having to be sent out to an
existing payment network such as Visa or the new payments platform (NPP), a process that adds 
complexity, slows settlement times and creates counterparty risks".

It appears that since 2018/2019 many Councils have similar plans for getting to Carbon Neutral at some 
stage, many at 2025 like both Mosman Council and Monash Council

It appears that most Councils have developed "Waste and Sustainability" web-pages showing a 
commitment for the Council becoming carbon Neutral and then a strategy for the households (rate payers) 
to become carbon neutral

According to the Emissions Reduction Fund Project Register as at 04 Jul 2022 there have been 
112,969,261 Australian Carbon Credits Units [ACCU] issued

However there is no value on what those 112,969,261 ACCUs cost to purchase or what the current 
value may be worth !

NEXT STEPS

With the costs of Electricity due to escalate considerably in the near future, many Rate-payers are 
concerned about not only the increase in Council costs but also the implications for purchasing Electricity 
Carbon Offsets 

According to the Carbon and Environmental Market Price update the current price for the ACCU IS $ 35.00

Hence the current vale of the 112,969,261 ACCUs is A$ 3.953,924,135 (nearly A$ 4 Billion dollars)

Who is holding those ACCUs on their Asset Register ?

Yours sincerely



Peter AXTENS LLB (Retired)		Stephen GOULD
Chair - NSW Digital Economy Review Cmt	Chair - On-line eBusiness Cmt
SUSTAINABILITY ACTION NETWORK		OPEN INTERCHANGE CONSORTIUM 

B: PO Box 517 Neutral Bay Junction   2089
E: trustee.THD@gmail.com
M: {61}(4)1600-9468


LEGEND

EDI	Electronic Data Interchange
SME	Small and Medium size Enterprises
UNFCCC United Nations Framework Convention on Climate Change [UNFCCC]
XML	Extensible Mark-up Language


I	Other Inner West Council Documents that are part of the CSP2036

	a	Strategies
	b	Plans
	c	Statements
	r	Research References

a	Strategies

Is1 Resourcing Strategy [ReS] 2018-2028 Adopted Jun 2018- PDF File		
Is2 Climate + Renewables Strategy [CRS] - draft On-line		
Is3 Employment and Retail Lands Strategy [EaRLS] - PDF File		
Is4 Housing Strategy [HS] - PDF File
Is5 Integrated Transport Strategy [ITS] Adopted 03 Mar 2020 - PDF File
Is6 Asset Management Strategy [AMS]2018-28 Adopted Jun 2018 - PDF File		
Is7 Workforce Management Strategy [WMS] 2018-22 Adopted Jun 2018 - PDF File		
Is8 Information and Communication Technology [ICT] Strategy 2018-2022 Adopted Jun 2018 - PDF File

b	Plans

Ip1 Community Strategic Plan [CSP] 2036 Endorsed Jun 2019 - On-line
Ip2 Economic Strategic Development Plan [EDSP] draft - On-line
Ip3 Long Term Financial Plan 2019-2029 Adopted Jun 2019 - PDF File

c	Statements

It1 Local Planning Statement [LPS]		

r	References

R6 2019-01-19 Adelaide Advertiser: Compensation paid to Slave Owners 1835 - 2015 (180 yrs)

R5 2003-2014 Value of Volunteers to Australian State Economies

R4 2014-11-07 IBM "Blockchain" solution for the Diamond Industry Video

R3 1997 Lessons from a Dozen Years of Group Support Systems Research - 4,000 IBM projects

R2 Sir Evelyn de Rothschild - Director De Beers 1977-1994 & IBM UK 1972-1995

R1 1987-04-23 RUBAC Automatic eProcess Synchronisation Video

Home | Project Minutes | Our Inner West 2036 | Community Strategic Plan | Vision Statement | 5 Stratgic Directions | Key Community Challenges 
   Blockchain SIG | Blockchain TED Videos | IBM Blockchain for Diamond Ind | RUBAC Video | RUBAC Projects | Disclaimer | Copyright

<