"People Can Trade And Invest In Carbon Credits" Founder CREDUCE, Shailendra Singh Rao
In an interaction with Urvi Shrivastav Editorial Team, BW Businessworld, Founder CREDUCE, Shailendra Singh Rao, speaks about the role of digital tokens in easing out climate change, launch of 'KICHEE', and the future of green tokens in India.
How will digital tokens ease-out climate change?
With the lack of validation worldwide on climate change efforts, there is also a lack of substantiation for tokens. There is a challenge of double accounting, authenticity which thereby creates confusion and potential for fraud in the case of tokens. With the digital blockchain, these tokens will be adequately utliised, without any duplication, and create the provision for every token and metadata to be attested. Single Carbon credit will no more be taken into multiple ledgers.
In addition to this, with the launch of sustainable block chain token based out of carbon credits, people can trade and invest in carbon credits and contribute to a greener climate, sitting in the comforts of their homes. Sustainable green tokens will democratize efforts towards climate change. Essentially we need to say, by digitizing the efforts, the direction will be right, clear and purposeful
How did the idea of KICHEE come about? How will it help the climate change issue?
To counter double accounting, to make carbon trading digital, democratic and decentralized, KICHEE was born. The motive, essentially, was to ensure participation from everyone in the process of carbon mitigation.
The challenge:
Climate Change, A priority for almost every Government
We currently have the ability to offset only a fifth of our emissions through carbon credits which is unable to tackle the present climate related problems.
The Opportunity
CRYPTO THAT SAVES THE ENVIRONMENT
To maintain global warming below the needed level, we must remove greenhouse gases from the atmosphere. The goal is to remove at least 100 times as much as we do now by 2050.
Credit supply is expected to lag demand, resulting in interesting price dynamics.
KEY FEATURES OF KICHEE
Each KICHEE Token represents 100 kgs of CO2 or equivalent averted emission in a given year.
It is backed on a 1:10 Basis by a Certified Carbon Credit.
KICHEE will be linked to audited CO2 reduction projects such as Renewable Energy, Water Credits, Methane avoidance, Plastic Recycling etc.
How receptive are people to digital tokens? What can be done to make them more acceptable?
We can create a lot of awareness towards these tokens that are a healthy combination of technology and climate change. The sustainable digital tokens offer lucrative returns, which are better than stock markets that are volatile.
These also help in building Good Asset credit for investors. With lower potential fluctuations, these tokens, that are mainly ‘green currencies’ or ‘green assets’, are a stable investment.
KICHEE is a step ahead of carbon credits. We are working with the aim of involving not just bigger institutions, but ensuring everyone can help fight the carbon credit battle.
How willing are people globally to adopt digital tokens as compared to India?
Even while investors are still awaiting the official verdict on cryptocurrency exchanges in the country, Indians are outspacing the rest of the world when it comes to cryptocurrency adoption. According to the reports, India has the largest number of crypto owners in the world, followed by the US and Russia. Not only this, India's market grew 641% over the past year. This opens up a huge market prospect for India.
KICHEE has a first mover advantage in the green token space. There are not many players coming as big as KICHEE is. There are a potential set of investors. KICHEE has suitable products, the products and processes are unquestionable and unbeatable in technology and price. There is a verifiable money and asset building opportunity through this green token.
What are the issues companies face with digital tokens like KICHEE?
○ When it comes to early adoption, it's an opportunity as well as a risk. People need to be there first, or else they will face the bitcoin hurdle. It will take a while before these tokens hold some value.
○ Lack of awareness among youth as well as existing investors
○ This is a completely new asset class for individual investors. They need to be made aware of the gain. These are green digital investments where being an activist and investor combo is available.
○ Millennials, if targeted properly, could be the new investor class as they are always looking for new classes of investments.
What is the future of green tokens in India?
India is also embarking on a green energy revolution, ensuring the availability of clean and efficient energy supplies. India is the second largest local crypto trading economy, thanks to the presence of various local platforms such as CoinKuber, CoinDCX, and others.
Our world could continue to invent and create without putting our air and water at risk. It not only sounds concrete, but it should be the responsibility of individuals who create bitcoin and blockchain enterprises in the end.
The first step in encouraging more innovation and disruption in the renewable sector is to create a self-sustaining enterprise in the crypto and blockchain realm. Blockchain and cryptocurrency have set the path for this generation's industrial revolution, and we must give it the best chance to succeed if we are to transfer the baton to the next generation.
