TerraGreen Digital Currency Model & Blockchain Platform
Energy as Digital Currency
Energy-related finance can be split according to two domains: its relation to energy and its relation to money. Energy-related money could either be designed by making the money in reference to a certain energy type or be physically backed by energy. In the latter case, the currency would be redeemable against its backing or non-redeemable.2
To make the economy work for the planet, and therefore for the long-term interest of humanity, we need to change how money works. We require a feedback loop between nature and the economy. A relatively new take on incentive mechanism for energy trade is the idea of using energy as the currency. A number of energy-related currencies have been proposed for the reduction of CO2 emissions, such as the Ergo and Carbon Coin; for the in-feed of renewable energy, namely Solar Coin; and for the energy-related product such as Genercoin. While these proposals address environmental issues, the vast distribution of energy outputs from renewable energy technologies is overlooked.
Focusing on these energy outputs, TerraGreen Digital Currency, also called TerraGreen Coin will be developed to be distributed on global and own trading platforms and international financial system, a Bitcoin-inspired decentralized digital currency that is secured and backed by renewable energy smart contract. On a global level, Terra Green Coin allows anyone to invest in the energy sector by purchasing the currency and thereby increasing its value on the market. In the long run, industries can even offer discounts for green products and services purchased with TerraGreen Coin and by that boosting the renewable energy economy.
The advantage of the proposed TerraGreencoins are:
- the blockchain-based decentralized financial system
- 2. High degree of privacy & trust
- 3. Value defined by green energy 15
- 4. Directly addresses the enormous biomass waste, generated by industries & human beings
