Carrot Network

Carrot is a blockchain network for the circular economy. A blockchain network is a cloud-based operating system that is open to all and belongs to its community of users and builders. A network has a purpose; in Carrot’s case, it is to accelerate the transition to a low-carbon and inclusive circular economy. Operating rules and governance are set in code using smart contracts, which help to establish trust between parties as the product is built with council and community approval and outcomes are defined in advance. All activities are recorded as transactions on an immutable, distributed ledger that is public and can be verified by anyone.

The programmable, transparent, and inclusive nature of blockchain networks creates a breakthrough for better social and economic coordination that can be harnessed to address some of the most complex problems facing humanity, including improving resource management, addressing pollution, reversing climate change, and regenerating our planet. Carrot’s founders, team, advisors, and supporters decided to build its solution as a blockchain network because they are convinced it is the best and only way to solve the organizational, economic and coordination challenges required to fulfill its mission of building a circular economy as quickly as possible. Later in the white paper, we address the governance components of the Carrot Network and how it will undergo "progressive decentralization" to become a fully global decentralized network that can address circularity challenges anywhere.