印度尼西亚的去中心化碳交易：面向代币化现实世界资产的公链架构
Toward Decentralized Carbon Trading in Indonesia: A Public-Blockchain Architecture for Tokenized Real-World Assets
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中文总结 AI 辅助
本研究针对印度尼西亚现有碳市场，提出保留SRUK权威性的公链RWA架构，用于代币化SPE-GRK碳信用额度，实现碳资产的公开可观测交易与监管。
中文摘要 AI 辅助
印度尼西亚已建立受监管的碳市场，由国家注册机构基础设施和IDXCarbon交易所提供支持。在该框架内可发行、记录、交易和注销碳单位。IDXCarbon目前在其交易基础设施中使用私有区块链，这为研究印度尼西亚碳信用额度如何通过公链基础设施进行表示和交易提供了契机。本研究提出了一种将印度尼西亚碳信用额度代币化为现实世界资产（RWA）的架构，特别聚焦于Sertifikat Pengurangan Emisi Gas Rumah Kaca（SPE-GRK，即温室气体减排证书）。该架构保留Sistem Registri Unit Karbon（SRUK，即碳单位注册系统）作为碳单位状态的权威来源，引入公链层用于代币表示和可编程交易，旨在支持生命周期管理、基于代币的资产表示、代币活动的公开可观测性、互操作性、基于钱包的交易以及可编程结算。该架构由四层构成：权威碳层、注册机构互操作性与代币化层、公链RWA层以及市场与应用层。代币化碳资产的访问仍受监管，代币发行与转让需关联参与者资格和注册机构状态，注销也仍依赖权威碳注册机构。所提架构为在印度尼西亚现有碳市场中引入公链RWA基础设施提供了框架，同时保留了SRUK的权威性和现有的市场完整性控制措施。
英文摘要
Indonesia has established a regulated carbon market supported by national registry infrastructure and the IDXCarbon exchange. Carbon units can be issued, recorded, traded, and retired within this framework. IDXCarbon currently uses a private blockchain for its trading infrastructure. This creates an opportunity to examine how Indonesian carbon credits could also be represented and traded through public blockchain infrastructure. This study proposes an architecture for tokenizing Indonesian carbon credits as real-world assets (RWAs), with particular focus on Sertifikat Pengurangan Emisi Gas Rumah Kaca (SPE-GRK). The proposed architecture retains the Sistem Registri Unit Karbon (SRUK) as the authoritative source of carbon-unit status. It introduces a public-blockchain layer for token representation and programmable transactions. The architecture is designed to support lifecycle management, token-based asset representation, public observability of token activity, interoperability, wallet-based transactions, and programmable settlement. The architecture consists of four layers: the authoritative carbon layer, the registry interoperability and tokenization layer, the public-blockchain RWA layer, and the market and application layer. Access to the tokenized carbon assets remains regulated. Token issuance and transfers are linked to participant eligibility and registry status. Retirement also remains dependent on the authoritative carbon registry. The proposed architecture provides a framework for introducing public-blockchain RWA infrastructure into Indonesia's existing carbon market while maintaining SRUK authority and existing market-integrity controls.
