According to the European Union 2021 agreement, it is expedient to reduce greenhouse gases by 50% by 2030 and attain net-zero emission by 2050. Also, the Paris and Kyoto agreements tried to limit CO2 emissions to a sustainable degree. However, with all these agreements reached by the international communities, our electricity consumption is set to double by 2050, and industrial production is also set to grow within the same period.
Therefore, there is the need for an effective and disruptive solution that will help reduce greenhouse gas emissions and help ensure the safety of our planet. Blockchain technology is the latest solution available in the market and is effective, efficient, and transparent. RED Platform is the first tokenized CO2 offset system designed to leverage the power of blockchain technology and pioneer new paths for a greener planet.
Overview of the RED Platform
RED Platform is a decentralized blockchain platform designed to save the planet from the danger of greenhouse gasses. The platform is a system where good deeds and sustainable actions are tokenized and exchanged into real value. It is a global, safe, scalable and easy-to-use system for tracking and rewarding CO2 offset by individuals and businesses. RED will be publicly accessible at any time by everyone and anyone without any difficulty. According to the founding team of the RED Platform, saving the planet needs to be made profitable if we want it to be a success. This is why they have created the system to reward those that do the work.
RED is already negotiating with major global, regional and national companies to onboard them on the RED Platform as it gradually becomes available in their market in both Europe and the United States.
“We are excited to announce a revolution in sustainability, the first end to end tokenized Carbon offset ecosystem, allowing individuals, companies, and other organizations to calculate their carbon footprint, to claim tokenized carbon credits for their positive environment actions and to sell, transfer or burn these credits in exchange for unique Sustainability Certificates in the form of NFTs or non-fungible tokens on the blockchain. Our platform and ecosystem is based on our own state of the art green blockchain technology called Zalmoxis, fully compatible with Ethereum running on PoS and PoA that immediately solves the scalability problem but at the same time retains all the advantages of Ethereum including transferring tokens issued on RED to the Ethereum mainnet but with 1,000 times less energy consumption, zero emissions, close to zero gas fees and with transaction speeds up to 100 faster. ” declares Armand Doru Domuța, CEO of Restart Energy.
How Does The RED Ecosystem Work?
The RED Platform is built so that users within and outside the energy sector can have a central point of interaction or encounter. Although each of these users might have a different focus, their interest and participation in the CO2 tokenized offset system hold all of them together. These users participate in building a structure that helps to reduce CO2 emissions in a more rewarding and transparent way. RED creates the enabling environment that allows these users to take part in CO2 offset and increases awareness about the need for decarbonization of the planet by utilizing new and efficient technologies like blockchain. On the RED platform, users are able to calculate their carbon footprint and offset it. Producers will be given Green Certificates of Origin on the blockchain when they register their green energy production. On the other hand, users will be enabled to create new franchise businesses in the energy and sustainability field. The user can earn Green tokens based on their green energy consumption and other sustainable actions.
The RED Franchise is an NFT token that can be withdrawn or sold at a certain point. The product is going to provide franchises the right blockchain tools to help companies tokenize their business needs and reach their sustainability goals.
The RED Tokens
On the RED Platform, there are five different types of tokens. There are the REO-G tokens, V-LEC (franchise NFT token), the Sustainability Certificate NFT token, and GTK tokens. However, every activity and functionality on the RED Platform depends on owning MWAT. Every token on the RED exchange will be paired with MWAT and the exchange fees will be zero. There is also the possibility of acquiring MWAT using fiat, BTC or ETH. This will bring the token closer to the users.
The REO-G tokens are ERC-721 tokens designed to enable producers to sell their Certificates of Origin. When you or a company purchases an REO-G token and requests for Certificate of Sustainability, the system burns the tokens to avoid double counting. Owning a single REO-G token means you prevent the release of 750 kg of CO2 from being released into the atmosphere.
The GTK tokens are ERC-20 standard tokens, and they can be earned or requested by any user across the world. These GTK tokens are given out based on green energy consumption, electric car usage, and other eco-friendly options.
There are also the V-LEC tokens which are ERC-721 compliant tokens. They are minted exclusively for franchise owners and each token contains specific information about the franchise for which it was issued. Just like any other business, these tokens can also be sold to another user.
About Restart Energy
Restart Energy is an independent electricity and natural gas supplier for homes and companies, with Romanian-American capital, established in 2015 in Timisoara, Romania. From its very beginning, Restart Energy was a company focused on innovation and sustainability. Restart Energy started developing renewable energy projects in 2010 and soon became one of the largest solar developers in Romania. The company saved millions of tons of CO2 from the atmosphere by delivering billions of clean KWh of renewable energy to its customers. They are also a Guinness World Record holder for sustainable mobility for the longest journey ever made with an electric car in a single country in 2020.
