A Singapore blockchain startup is launching a fleet of blockchain-enabled electric vehicles that extract the encrypted while traveling. The company intends to reduce carbon emissions and reward people for doing so.
Cars and climate change
Road vehicles such as cars, trucks and motorcycles are the biggest contributors to CO2 emissions in the transport sector, obscuring that of trains, airplanes and boats. In the UK, the transport sector is the UK's biggest contributor to CO2 emissions, and at the moment, it is a race not only in the UK but around the world to put more electric vehicles on the roads.
CyClean aims to combat the problem by combining blockchain and cryptocurrency software with electric vehicles and other products, such as solar panels and bicycles. The company will allow its users to hire these energy-efficient products and be awarded with cryptocurrency.
Electric vehicles and products supplied to CyClean by the major manufacturers are upgraded with a chip that connects to the CyClean server, then keeps track of the user's meters or watts and rewards them accordingly.
There is a fixed amount of daily premiums for users and this total is divided by the number of users who have exceeded more than one kilometer of travel that day or produced more than one watt. That said, the amount of CyClean coins assigned to users will be proportional to the distance traveled or to the watts produced.
According to the CyClean white paper, their business model covers electric bicycles and motorcycles and will move towards electric cars in the near future. They also intend to expand their motorcycle sales in Southeast Asia, where the use of these vehicles is very high.
Cyclean states that it is an operating company that has recently successfully completed the Initial Coin Offering (ICO) and is preparing to launch domestic solar panels and an e-bike, adding to their range of products that extract the native cryptocurrency of the platform, CyClean Coin (CCL). A CCL / USDT trading pair is now listed on HitBTC, a global cryptocurrency exchange, announced by the CyClean team in August. At the time of writing, CCL is the highest ICO trading token on HitBTC, following only the cryptocurrencies and established altcoins, according to CoinMarketCap.
Society is taking itself seriously and is firmly fighting the negative stereotypes of ICOs and blockchain technologies. In a recent blockchain conference in Seoul, CyClean's strategic planner, Joseph Nam, spoke with others about the past, present and future of technology, discussing regulations, laws of ICO and the importance of blockchain "in the next fourth industrial revolution ".
attended by former education ministers in Korea, the president of the Korea Blockchain Association and other leading figures in government and industry. CyClean is attempting to establish strong connections with governments, groups and other organizations to see its presence expand beyond South Korea to other parts of the world.
The trend of electric or hybrid vehicles is increasing, and recent research has estimated that 13 million new electric vehicles will be produced each year until 2021; International Energy reported that in 2017 the number of electric cars in circulation had exceeded 3 million worldwide and is expected to reach 125 million by 2030.
Blockchain technology solutions combined with electric vehicles have started to take off. Recently, a partnership was signed between a company based in the United States and the largest Chinese bus operator to provide financial services.
In 2017, another blockchain company began testing a peer-to-peer electric vehicle battery charger market that allowed users to charge their cars using another's power outlet person.
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