A reference architecture for implementing E-ledgers carbon accounting on the Finternet

Working paper

We propose a reference technology architecture for implementing E-ledgers carbon accounting on Finternet-compatible infrastructure. We first briefly describe the E-ledgers algorithm and the Finternet for our intended multi-disciplinary audience. We then identify, for software design purposes, the foundational invariants of the E-ledgers system. These invariants – such as mass/energy conservation and full accounting – identify what must be fixed by the architecture and what must therefore be left to entities, auditors, and regulators to determine. Next, we describe the core layers and data objects in the architecture, together with a discussion of data movement, visibility, and control through a comprehensive example. Finally, we discuss the governance and institutional requirements for such an architecture to be deployed across multiple jurisdictions and enterprise systems.

Authors: Ramanna, K; Sankritik, A; Holloway, L; Varma, P; Nair, V

• Publication status: Published
• Publisher: Blavatnik School of Government
• Place of publication: Oxford, UK
• Publication date: 2026-05-29
• Paper number: BSG-WP-2026-64
• Language: English
• Keywords: carbon accounting; distributed ledgers; E-ledgers; Finternet; offsets