Carbon Reduction Initiative Live AMA
January 14th 2022
Welcome to the Carbon Reduction live AMA with The Gem Hunters, we would like to thank the team for attending today and sharing information on the project with our community!
Aryan|TGH@TheGemHunterstg : To kick this off could you give us and introduction into Carbon Reduction, what have you guys set out to do?
Xanadan/CEO@Carbon Reduction : Carbon Reduction Initiative is the world’s first carbon credit generating blockchain. We move transactions off Bitcoin, onto a more energy efficient network and generate carbon credits based on the difference in the amount of CO2. produced using a unique methodology being approved by Verra (a leading Carbon Credit Certification NGO based in the USA). These carbon credits will be sold and half of the revenue will be awarded to CARI Eco-node holders, so if you hold CARI, you will not only be rewarded with CARI, but in $ from Carbon Credit Sales as well. Each BTC transaction off-set will generate about 0.5 Carbon Credits and each carbon credit could sell for around $10. TLDR; Carbon Reduction Initiative is the world’s first carbon credit generating blockchain. So investors will receive an external stream of income from the sale of carbon credits.
Aryan|TGH@TheGemHunterstg : Now we know a little about the project could you now tell us a little about the team? Who are you guys, whats your backgrounds and experience?
Xanadan/CEO@Carbon Reduction : Chair, Adam Cayley: Adam is a Programme Management expert with over 20 years experience delivering complex programmes of work, primarily in government and healthcare industries. He has significant experience investing in startup companies and blockchain technologies. Adam is a non-executive Director of CRI responsible for holding the CRI management team to account, on behalf of investors. CEO, Mark Moores: Mark qualified as a chartered accountant over 20 years ago with Grant Thornton in London. He has worked for all sizes of business from multi-billion listed global groups to micro-startups. Last 10 years he has worked for cutting-edge technology start-ups as CFO and as a consultant. Carbon Methodology Consultant, Sue Hall: Sue provides world-class carbon thought leadership. She pioneered the first carbon market innovations and remains at the cutting-edge of carbon methodology development. Chief Strategy Officer: Our CSO has specialised for over two decades in creating and growing online business to the point of sale. His experience in identifying and capitalising on opportunities in the market has been fine-tuned through numerous successful businesses. He has been deeply involved in blockchain projects over the past 5 years and has sat on the Board of other blockchain projects. He is responsible for communications, growing the community of cryptocurrency users and scaling adoption of specific use-cases. Chief Operations Officer: Our COO has 15 years experience in managing software projects, and a strong technical background in software development and data analytics. His key interests in the cryptocurrency space have been in automation and management software for Masternodes. He leads the cryptocurrency development team and ensures accountability on other project work plans through project management. Chief Innovation Officer: Our CIO has 15 years of experience with adapting technology to people’s needs, primarily through assessment of interfaces or functional approaches to find more efficient ways of performing tasks and managing data, including back-end processing used for tens of thousands of leads and millions of dollars of transaction flow per day. He is responsible for practical use cases for adoption, developing partnerships with relevant organisations and is currently also developing features for CARI. Chief Solutions Officer: Our CSolO is a multi-disciplined Solution Architect with a wide range of accolades spanning a career of over 20 years. From developing and implementing sophisticated global business reporting and auditing tools in the telecoms sector to managing development teams across multiple time zones and engaging in effective outcome based solutions. Despite a technical background in software engineering, he has a remarkable creative characteristic that sees him flourish as an artistic designer. He contributes to cryptocurrency development and leads CRI’s branding and design efforts. TLDR;Chair, Adam Cayley – Government & Healthcare programme management expert with MSc in Environmental Science;CEO, Mark Moores – Chartered Accountant with MBA experienced in both large, listed companies and startups; Consultant, Sue Hall – World-class carbon methodology consultant ;CSO – Serial web entrepreneur, built and scaled numerous businesses; COO – Software project management, software development and data-analytics; CIO – UX, interfaces, data management, software development ;CSolO – Solution architect, project management, design and branding.
Aryan|TGH@TheGemHunterstg : Before we get too carried away can we give the community a brief insight into what carbon credits actually are and what benefits and problems they and the project itself solve?
Xanadan/CEO@Carbon Reduction : Carbon credits represent a tonne of carbon dioxide either removed from the atmosphere otherwise prevented from polluting the atmosphere. They can be traded and their price ranges from $2-$30 The market is forecast to increase 15x by 2030 to approx. $30bn . Recently Bitmex bought $100k carbon credits at $14 to offset their carbon emissions. FTX exchange have their own climate division and bought $1m this year. They could have bought CARI instead, I am sure they will in future to get recurring carbon credits annually. How did the project get started… well…. We are all in blockchain because of Bitcoin, when Mark first heard about it in 2013 he was immediately intrigued. PoW is the most battle-tested consensus mechanism, it works. We admire Satoshi’s vision but, and its a big but, I don’t think Satoshi thought about power consumption at the current rates as an unintended consequence. Today Bitcoin uses about 0.5% of the world’s electricity, which might not be a problem if the World’s energy consumption was sustainable, but its not – we are still building fossil fuel power stations. It’s a serious problem. We care about Cryptocurrency and the environment, we want cryptocurrency to be sustainable because we have children and want to pass on to them a better world. TLDR; Bitcoin uses 0.5% of the world’s electricity, hence it has a huge carbon footprint.
Aryan|TGH@TheGemHunterstg : So we know what you guys are building but lets talk about what you guys have been working on, what have you achieved so far?
Xanadan/CEO@Carbon Reduction : Founded the Company in April 2020 as a UK Limited company so you can check the details at UK Companies House.Blockchain running smoothly for over a year. CRI team has secured approval from HMRC for SEIS (huge tax break for UK investors)Verra (Carbon Credit Certification body) Executive accepted CRI “Concept Methodology Note” in December 2020. Finished Carbon Credit Methodology in June 2021.Received Verra’s final queries in December 2021. Bootstrapped with investment from “Friends and Family” still time to get in before VCs . 2 years in development before launching, we have done the work rather than taking cash upfront. Working on decentralised governance through our wallets so the community can decide their own direction.
Aryan|TGH@TheGemHunterstg : So we know what youre currently working on, but what are the next steps, what can we expect so see into the not so distant future, when will we see the project start to materialise?
Xanadan/CEO@Carbon Reduction : We are looking to influence the crypto market in a greener direction and the carbon credit market in a crypto direction. We want CARI to act as the green store of value in an eco-crypto network of projects that are trying to help the world as well as making their investors rich. We will build an exchange and website that independently assesses projects for their relevance to the UN’s sustainable development goals – so if investors buy into those projects they know they are not just speculating financially but helping the planet too. We will also set up our own charity to invest in specific environmental projects too. CARI will generate carbon credits, but there is a lag – due to the traditional carbon credit auditing regime between the credits being earned and the credits being verified and issued. This is a problem for the whole market. We will mitigate this problem by tokenising the carbon credits we know have been earned on our blockchain, but not yet issued. So these tokens will represent the right to a future carbon credit, issued at a discount, with a maturity of a year at which point they can be sold back to a smart contract for cash. If you are into DeFi, you will realise this is an excellent way to improve liquidity in the marketplace not just for us but for many other carbon credit projects across the world.
Aryan|TGH@TheGemHunterstg : Lastly please share with us your ultimate vision, what can we expect to see long term?
Xanadan/CEO@Carbon Reduction : Our ultimate aim is to become a trusted source for cryptocurrency and tokenisation advice to the world’s main carbon credit certification bodies, Verra and the Gold Standard. At the moment they are reluctant to tokenise their carbon credit registries but over the next year as we continue to engage with them, we think they will see the value in decentralisation. If we tokenise these registries we can devise a consistent classification of tokenised carbon credits that would allow for the creation of a unified, tokenised worldwide decentralised carbon credit exchange. The carbon market is large and expected to grow over 15x by 2030 to $30bn. Experience of trading in other markets implies that the traded value in the market would be at least 10x this, so $300bn+ That is a huge potential marketplace. This is the future but it could be sooner than you think!
For more information on Carbon Reduction refer to the links below :
💎Website : https://cri.eco
💎Twitter : https://twitter.com/criltduk?s=21
💎Discord : https://discord.com/invite/qGWeS3Kj6G