Mechanism Analysis of Applying Blockchain Technology to Forestry Carbon Sink Projects Based on the Differential Game Model

As an important way to reduce emission, forestry carbon sink (FCS) has not been implemented effectively. Therefore, this paper aims to analyze the effectiveness and mechanism of applying blockchain technology in FCS projects by utilizing the differential game model. A Stackelberg differential game m...

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Autores principales: Rui Sun, Dayi He, Jingjing Yan, Li Tao
Formato: article
Lenguaje:EN
Publicado: MDPI AG 2021
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Acceso en línea:https://doaj.org/article/10e89a949729463eae59f098e30bf2c7
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spelling oai:doaj.org-article:10e89a949729463eae59f098e30bf2c72021-11-11T19:25:43ZMechanism Analysis of Applying Blockchain Technology to Forestry Carbon Sink Projects Based on the Differential Game Model10.3390/su1321116972071-1050https://doaj.org/article/10e89a949729463eae59f098e30bf2c72021-10-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/11697https://doaj.org/toc/2071-1050As an important way to reduce emission, forestry carbon sink (FCS) has not been implemented effectively. Therefore, this paper aims to analyze the effectiveness and mechanism of applying blockchain technology in FCS projects by utilizing the differential game model. A Stackelberg differential game model between forest farmers and emission-controlled enterprises (ECEs) is developed to analyze the optimal emission reduction efforts and the optimal trajectory of forest farmers and ECEs before and after introducing blockchain technology. It is found that: (1) At the initial stage of the utilization of blockchain technology, if blockchain technology takes a leading role in stabilizing carbon prices, the ECEs prefer to purchase FCS instead of reducing emissions by their own technology. On the contrary, if blockchain technology takes a leading role in stimulating the vitality of the carbon trading market, ECEs tend to use emission abatement technology to meet the carbon quote requirements. (2) In the later stage, the incentive and stabilizing effects of blockchain technology on carbon prices tend to be balanced, and the emission reduction efforts of ECEs are lower than the efforts before applying blockchain technology. (3) The application of blockchain technology increases forest farmers’ willingness to reduce emissions because of its effection of cost reduction and efficiency improvement. Meanwhile, blockchain technology reduces abatement costs by influencing carbon prices. Therefore, blockchain technology improves forest farmers’ emission reduction efforts on the whole.Rui SunDayi HeJingjing YanLi TaoMDPI AGarticleblockchain technologyforestry carbon sinkStackelberg differential gameemission abatementEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 11697, p 11697 (2021)
institution DOAJ
collection DOAJ
language EN
topic blockchain technology
forestry carbon sink
Stackelberg differential game
emission abatement
Environmental effects of industries and plants
TD194-195
Renewable energy sources
TJ807-830
Environmental sciences
GE1-350
spellingShingle blockchain technology
forestry carbon sink
Stackelberg differential game
emission abatement
Environmental effects of industries and plants
TD194-195
Renewable energy sources
TJ807-830
Environmental sciences
GE1-350
Rui Sun
Dayi He
Jingjing Yan
Li Tao
Mechanism Analysis of Applying Blockchain Technology to Forestry Carbon Sink Projects Based on the Differential Game Model
description As an important way to reduce emission, forestry carbon sink (FCS) has not been implemented effectively. Therefore, this paper aims to analyze the effectiveness and mechanism of applying blockchain technology in FCS projects by utilizing the differential game model. A Stackelberg differential game model between forest farmers and emission-controlled enterprises (ECEs) is developed to analyze the optimal emission reduction efforts and the optimal trajectory of forest farmers and ECEs before and after introducing blockchain technology. It is found that: (1) At the initial stage of the utilization of blockchain technology, if blockchain technology takes a leading role in stabilizing carbon prices, the ECEs prefer to purchase FCS instead of reducing emissions by their own technology. On the contrary, if blockchain technology takes a leading role in stimulating the vitality of the carbon trading market, ECEs tend to use emission abatement technology to meet the carbon quote requirements. (2) In the later stage, the incentive and stabilizing effects of blockchain technology on carbon prices tend to be balanced, and the emission reduction efforts of ECEs are lower than the efforts before applying blockchain technology. (3) The application of blockchain technology increases forest farmers’ willingness to reduce emissions because of its effection of cost reduction and efficiency improvement. Meanwhile, blockchain technology reduces abatement costs by influencing carbon prices. Therefore, blockchain technology improves forest farmers’ emission reduction efforts on the whole.
format article
author Rui Sun
Dayi He
Jingjing Yan
Li Tao
author_facet Rui Sun
Dayi He
Jingjing Yan
Li Tao
author_sort Rui Sun
title Mechanism Analysis of Applying Blockchain Technology to Forestry Carbon Sink Projects Based on the Differential Game Model
title_short Mechanism Analysis of Applying Blockchain Technology to Forestry Carbon Sink Projects Based on the Differential Game Model
title_full Mechanism Analysis of Applying Blockchain Technology to Forestry Carbon Sink Projects Based on the Differential Game Model
title_fullStr Mechanism Analysis of Applying Blockchain Technology to Forestry Carbon Sink Projects Based on the Differential Game Model
title_full_unstemmed Mechanism Analysis of Applying Blockchain Technology to Forestry Carbon Sink Projects Based on the Differential Game Model
title_sort mechanism analysis of applying blockchain technology to forestry carbon sink projects based on the differential game model
publisher MDPI AG
publishDate 2021
url https://doaj.org/article/10e89a949729463eae59f098e30bf2c7
work_keys_str_mv AT ruisun mechanismanalysisofapplyingblockchaintechnologytoforestrycarbonsinkprojectsbasedonthedifferentialgamemodel
AT dayihe mechanismanalysisofapplyingblockchaintechnologytoforestrycarbonsinkprojectsbasedonthedifferentialgamemodel
AT jingjingyan mechanismanalysisofapplyingblockchaintechnologytoforestrycarbonsinkprojectsbasedonthedifferentialgamemodel
AT litao mechanismanalysisofapplyingblockchaintechnologytoforestrycarbonsinkprojectsbasedonthedifferentialgamemodel
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