A Singapore blockchain startup is launching a fleet of blockchain-enabled electrical vehicles that mine crypto as users travel. The Company intends to cut back carbon emissions and to reward individuals for doing thus.
Cars and climate change
Road vehicles like cars, trucks and motorcycles are the biggest contributors of co2 emissions in the transport sector, overshadowing that of trains, planes and boats. In the united kingdom, the transport sector is the U.K.’s biggest contributor to co2 emissions, and at the present, there's a scramble not only in the U.K. but worldwide to put more electrical vehicles on the roads.
CyClean aims to combat the problem by combining blockchain and cryptocurrency software with electric-powered vehicles as well as other products, such as solar panels and bicycles. The Company will allow its users to rent these energy-efficient products and be rewarded with cryptocurrency.
Electric vehicles and products provided to CyClean by leading producers are upgraded with a chip that connects to the CyClean server, it then tracks the traveled meters or watts of the user and rewards them accordingly.
There is a fixed amount of daily rewards for users and that total is divided by the number of users who have exceeded over a kilometer of travel that day or produced more than one watt. With that said, the quantity of CyClean coins awarded to users will be proportionate to the space travelled or watts produced.
According to the CyClean white paper, their business model covers the electrical bicycles and motorbikes, and they will be moving toward electrical cars in the near future. They also have intentions to expand their motorcycle sales to Southeast Asia, where usage of these vehicles is extremely high.
Up and running
CyClean says it's an operating business that has recently completed a successful Initial Coin providing (ICO) and is getting ready to launch domestic solar panels and an e-bike, adding to their range of products that mine the platform’s native cryptocurrency, the CyClean Coin (CCL). A CCL/USDT trading pair is currently listed on HitBTC, a global cryptocurrency exchange, the CyClean team announced in August. At the time of writing, CCL is the highest trading ICO token on HitBTC, following only the established cryptocurrencies and altcoins, in keeping with CoinMarketCap.
The company is taking itself rather seriously and is firmly combating the negative stereotypes of ICOs and blockchain technologies. At a recent blockchain conference in Seoul, CyClean’s strategic planner Joseph Nam spoke with others relating to the past, present and future of technology, discussing regulations, ICO laws and how important blockchain will be “in the approaching Fourth industrial revolution.”
The conference was attended by former ministers of education in Korea, the president of the Korea Blockchain Association and alternative prominent government and industry figures. CyClean is trying to determine solid connections with governments, groups and other organizations to see its presence expand beyond South Korea to different parts of the world.
Energy efficient
The trend of electric or hybrid vehicles is on the rise, and recent research has estimated that 13 million new electrical vehicles are going to be produced per annum until 2021; International Energy reported that in 2017, the number of electric cars in circulation had surpassed 3 million globally and is anticipated to reach 125 million by 2030.
Blockchain technology solutions paired with electrical vehicles have begun to take off. Recently, a partnership was struck between a United States-based company and China’s largest electrical bus operator to provide financial services.
In 2017, another blockchain company began testing a peer-to-peer electrical vehicle charger marketplace that enabled users to charge their cars by using another person’s power outlet.
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