ZERO CARBON PROJECT((ICO2018))-TACKLING CLIMATE CHANGE USING BLOCKCHAIN

dprince2281 (5)in #dprince2281 • 8 years ago

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INTRODUCTION:

Renewable energy is energy that is collected from renewable resources, which are naturally replenished on a human timescale, such as sunlight, wind, rain, tides, waves, and geothermal heat. Renewable energy often provides energy in four important areas: electricity generation, air and water heating/cooling, transportation, and rural (off-grid) energy services.

Based on REN21's 2017 report, renewables contributed 19.3% to humans' global energy consumption and 24.5% to their generation of electricity in 2015 and 2016, respectively. This energy consumption is divided as 8.9% coming from traditional biomass, 4.2% as heat energy (modern biomass, geothermal and solar heat), 3.9% hydro electricity and 2.2% is electricity from wind, solar, geothermal, and biomass. Worldwide investments in renewable technologies amounted to more than US$286 billion in 2015, with countries like China and the United States heavily investing in wind, hydro, solar and biofuels. Globally, there are an estimated 7.7 million jobs associated with the renewable energy industries, with solar photovoltaics being the largest renewable employer. As of 2015 worldwide, more than half of all new electricity capacity installed was renewable.

Renewable energy resources exist over wide geographical areas, in contrast to other energy sources, which are concentrated in a limited number of countries. Rapid deployment of renewable energy and energy efficiency is resulting in significant energy security, climate change mitigation, and economic benefits. The results of a recent review of the literature concluded that as greenhouse gas (GHG) emitters begin to be held liable for damages resulting from GHG emissions resulting in climate change, a high value for liability mitigation would provide powerful incentives for deployment of renewable energy technologies. In international public opinion surveys there is strong support for promoting renewable sources such as solar power and wind power. At the national level, at least 30 nations around the world already have renewable energy contributing more than 20 percent of energy supply. National renewable energy markets are projected to continue to grow strongly in the coming decade and beyond. Some places and at least two countries, Iceland and Norway generate all their electricity using renewable energy already, and many other countries have the set a goal to reach 100% renewable energy in the future. For example, in Denmark the government decided to switch the total energy supply (electricity, mobility and heating/cooling) to 100% renewable energy by 2050.

While many renewable energy projects are large-scale, renewable technologies are also suited to rural and remote areas and developing countries, where energy is often crucial in human development. Former United Nations Secretary-General Ban Ki-moon has said that renewable energy has the ability to lift the poorest nations to new levels of prosperity. As most of renewables provide electricity, renewable energy deployment is often applied in conjunction with further electrification, which has several benefits: Electricity can be converted to heat (where necessary generating higher temperatures than fossil fuels), can be converted into mechanical energy with high efficiency and is clean at the point of consumption. In addition to that electrification with renewable energy is much more efficient and therefore leads to a significant reduction in primary energy requirements, because most renewables don't have a steam cycle with high losses (fossil power plants usually have losses of 40 to 65%).

Renewable energy systems are rapidly becoming more efficient and cheaper. Their share of total energy consumption is increasing. Growth in consumption of coal and oil could end by 2020 due to increased uptake of renewables and natural gas.

In reference with the motion of this article, Today! I will be presenting you a particular undisputed project called: ZERO CARBON

WHAT IS ZERO CARBON?

Zero Carbon Project is tacking climate change using blockchain. Our zero carbon markets beats renewable energy and fossil fuels on price and our customers earn Energis token rewards as a catalyst for change. Together we can reduce carbon emissions faster than renewable energy.

ABOUT ZERO CARBON

The Zero Carbon Project is tackling climate change using the blockchain and international carbon credits.

Renewable energy has responded well to the climate change challenge, with impressive cost reductions achieved. However, we are concerned that renewables remain too expensive and so the impact on carbon emissions is slow.

deliver energy at a lower price than existing renewable and fossil fuel energy contracts; and to entice people to use the Zero Carbon Project, provide a blockchain-driven incentive scheme to reward consumers for engaging with the Zero Carbon Project and encourage consumer action.

The first part of our solution consists of a competitive ‘Zero Carbon Market’ which provides consumers access to cheaper energy contracts where the carbon emissions have been offset by international carbon credits.

Secondly, our blockchain economy is based on Energis tokens that have been designed to capture the future value that customers receive form our Market. This is enabled using the distributed ledger, Ethereum smart contracts and crypto exchanges.

Energis tokens are underpinned by concrete value as energy suppliers must use them to pay their transaction fees for using our Market. Therefore, as our consumer base grows, the demand for Energis tokens increases, constrained by a fixed supply.

We intend that up to 70% of the transaction fees received by the Zero Carbon Project will be ‘recycled’ and provided to consumers as rewards for engaging with the Zero Carbon Project. Energy suppliers and consumers (“Customers”) can sell Energis tokens to other customers, including energy suppliers who purchase them to pay transaction fees. This is the Energis economic cycle.

Progress achieved to date
We have been actively building the Zero Carbon Market over the last year. This includes building the Project team, completing the systems, designing the Energis smart contracts and registering energy suppliers in the UK. Our UK Market is now complete and ready for launch in October 2018. This will be followed by a global roll out in 2019.

Track-record of innovation and execution
The Zero Carbon Project is a subsidiary of Beond www.beondgroup.com which is an award-winning energy and carbon consultancy based in London. Beond is a team of 30 energy market professionals who are passionate about helping clients achieve their ambitions and also about tackling global climate change, through the application of new technologies. Our core values are integrity, innovation and quality.

Beond services over 600 energy consumers in UK including Knight Frank, Capita, The Salvation Army and Salford County Council, and has received eight awards over the last three years covering innovation, green business and consultancy services.

ZERO CARBON TEAM