CyClean, a blockchain startup based in Singapore has launched electric vehicles that can mine crypto-coins as users travel. The blockchain-enabled electric vehicles are meant to incentivize users to reduce carbon emissions, and now they have a way to reward them as they do.
A Solution To CO2 Emissions
Road vehicles such as cars and motorcycles continue to be the main contributors of carbon dioxide emissions in the transport sector. They overshadow planes, trains and boats combined. Due to this, there is an urge in many countries around the world to put more electric vehicles on the road.
That’s where CyClean comes in. By combining cryptocurrency software and blockchain tech coupled with electric powered vehicles, they aim to solve this problem for good. The startup will allow its users to rent these energy efficient vehicles and in turn reward them with cryptocurrency.
CyClean is utilizing a system that integrates electric vehicles and other products supplied by leading suppliers with a chip that connects to the CyClean server. This chip is used to track the distance traveled, or the watts produced and then allocates rewards accordingly.
The is a limit to the daily rewards awarded to users, and the total is divided by the number of users who have produced more than one watt or exceeded more than a kilometer of travel in a day. So, the amount of CyClean coins awarded to users are proportional to the watts produced or distance traveled.
The project’s white paper states that their business model targets motorbikes and electric bicycles. In the future, there are plans to introduce electric cars. They also intend to expand their operation of motorbike sales in Southeast Asia where their demand is very high.
The startup recently completed a successful ICO, and it says it’s preparing to launch electric bikes and solar panels. A move that will add to its wide range of products that will mine the platform’s native currency, the CyClean Coin (CCL).
Already, a CCL/USDT trading pair has been listed on HitBTC crypto exchange according to an announcement made in August.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology
Photo courtesy of Bitcoin Exchange Guide