The Zero Carbon Project – Tackling climate change with Blockchain Technology

$1.24 tipped


As you may have guessed, I like to do research into green energy blockchain solutions and projects. You can check out my previous dives into other green energy blockhain projects here and here.

 

In today’s blog, I’d like to feature the Zero Carbon Project, an Australian based blockchain solution looking to help the world transition into zero carbon energy consumption. ZCP (as I’ll call it here on in), incorporated in April 2018 and has since launched their project in England, with a roadmap towards launching worldwide in 2019

 

ZCP’s ecosystem rewards consumers for using energy provided by ZCP compliant energy producers who buy tokens from exchanges in order to pay transaction fees for new customers won in the ZCP ecosystem. ZCP then allows consumers to offload their rewards onto third party exchanges in order to drive value.

 

 

To achieve this ecosystem, ZCP developed their own ERC20 compliant token called “ZeroCarbon”, ticker ZCC. The total token supply is 240 million tokens, with an initial price set at USD $.20 during the private ICO. The company hopes to raise between 2 and 5 million dollars to fund operations and growth.

 

I’m particularly excited about this venture. ZCP is backed/was invented by Beond, an established British Energy Market consulting company. The technical detail of the white paper clearly lays out their business plan in a much more formal way than almost any other whitepaper I’ve read. It gives me confidence that this team is driven to see the project succeed and has the leadership capability to grow ZCP into a viable energy market disruptor.

 

 

How does it work?

 

ZCP explains their ecosystem like this:

 

Suppliers submit their best zero carbon energy offers

Offers are compared transparently using like-for-like comparisons, using an online switching system for households and an online reverse auction system for business.

Consumers select their preferred cheapest contract option across our Market.

The consumer completes the contract directly with the successful energy supplier.

 

 

The Zero Carbon Project effectively maintains the ecosystem, by “recycling” up to 70% of tokens back to consumers in the form of rewards for using green energy providers on the platform. ZCP also states in their white paper that 25% of tokens remaining, after the distribution of rewards and payments will be burned.

 

What is particularly unique about ZCP, is that the supply and demand of their token is directly related to the use of both consumers and producers – each have a different function within the cycle and each must perform one of the two actions which drives the price of the token. Effectively, neither the consumer, nor the supplier should be able to significantly manipulate the price, but rather share complimentary growth as supply and demand grow.

 

 

 

ZeroCarbon facilitates the sale of energy contracts to consumers, but requires consumers to complete those contracts and pay for them outside of the ecosystem. This is a another defining feature of ZCP. Unlike other projects, the token is not used within the ecosystem to directly pay the producer. It is only used to facilitate energy biding in a competitive marketplace, with the goal of reducing green energy prices for individual consumers.

 

My Closing Thoughts:

 

I am really interested to see how ZCP takes off. The biggest single differentiator is that they are not facilitating the sale of energy on their platform, only the bidding of contracts. They then pay rewards to users of green energy who can sell the tokens on secondary exchanges. I particularly like this approach, because I see it as a more logical stepping stone for introducing blockchain tech to the general consumer, while promoting green energy consumption and driving revenue for green energy producers. 

 

I'll be interested to see how it interacts with other projects that attempt to be wholly closed markets for green energy. I feel that ZCP will have an easier time breaking into new markets, and, given their experienced directors, will have a much more measured and "corporate" approach, than many of their potential competitors. 

 

Time will tell.

 

 

--------

 

All info taken from zerocarbonproject.com and the Zero Carbon Whitepaper. 

 


Kevin Callaway
Kevin Callaway

Kevin Callaway was born and raised in Southern California. His essays have appeared in numerous print journals around the US. He enjoys hiking, photography, languages, boardgames, music and cooking. He can be found online at kevincallaway.com


Revival and Thoughts
Revival and Thoughts

A collection of blogs and my thoughts. A place to explore my interests. A space for you to discover.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.