
doi: 10.2139/ssrn.3674807
With a focus on the guarantees of origin certificates market, we describe the financial aspects of originating Asset-Backed Tokens in effectively mobilising funds to sustainable infrastructure investments. As economic disintermediation challenges energy regulation, it is of great significance to propose a blockchain-based market design whereby savings kept in decentralised e-wallets can be directly linked to energy consumption from renewable sources via IOU cryptocurrencies while producers raise capital at lower cost. These ABTs resemble to perpetual zero-coupon bonds issued below par. Yet, they are convertible to liquid money due to an embedded American put (soft) option readily settle originator’s energy bills at a discount compared to the economy’s functional (traditional fiat) currency.
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