EcoBit: Carbon credit trading and sustainable entrepreneurship - Smith + Crown

EcoBit: Carbon credit trading and sustainable entrepreneurship

EcoBit is partnering with a conservation group to create sustainable businesses and trade carbon credits.

Project Description

Earlier this year, the Malaysian state of Kelantan awarded Climate Protectors Sdn.Bhd over a million acres of tropical rain forest. The Malaysian private limited company has conservatory rights over the forest for the next 30 years as part of the United Nations Collaborative Programme on Reducing Emissions from Deforestation and Forest Degradation (REDD+).

Climate Protectors will be using EcoBit blockchain technology to maintain a digital ledger of the carbon credits the conservatory produces and trades. EcoBit also has permission to use the conservatory to develop sustainable, revenue generating projects. The first projects EcoBit plans on launching is an Aquaponic farm and a farm to produce the pharmaceutical supplement, Spirulina.

Project Details

Team openness: Detailed Bios, no links to public profiles or acknowledgement of involvement
Blockchain Developer: Unclear
Technical White Paper:      No white paper
Available Project Code: No code available
Prototype: Examples of working technology on their website

Token Details

Role of token: Profit rights and Voting rights
Token supply: 8.888 billion
Distributed in ICO:      888.88 million
Emission rate: Unclear
Blockchain: NEM
Consensus method: Proof of Stake

Sale Details

Sale period: April 9th, 2017 to June 8th, 2017
First price: $0.0345 USD per ECOB
Accepted currencies: Fiat, BTC, NEM and ETH
Investment Round:  First public offering
Token distribution date:      Immediately but tokens locked until 7-14 days after sale ends
Min investment goal: None
Max investment cap: None
How are funds held: Multisig wallet held by team council
Minimal Viable Product: Carbon trading already in progress
Bonus schedule: Starting April 19th, price increases by 1% per day

Official Resources