AMA Recap: GTA Ventures x dClimate
On May 8th, SID JHA— Founding Partner of dClimate with GTA Ventures hosted an AMA live session at GTA Trading Community. A lot of questions about dClimate core, missions, and plans were sent.
This post includes a recap of the live AMA session and features the questions asked by community members, as well as the answers.
1. Would you introduce yourself to the GTA Trading Community? Your background and why do you create dClimate?
My name is Sid Jha and I am a founding partner of dClimate, the first decentralized network for climate data. I am also the Founder and CEO of Arbol, which is a software platform for insurance/derivatives products built on blockchain that help businesses build resilience against weather and climate risk. dClimate is the culmination of three years of work by Arbol to release its decentralized infrastructure of climate and weather data as a standalone network that can be leveraged by the many stakeholders (businesses, governments, banks, etc.) who rely on accurate and secure climate data and forecasts to plan proactively for disasters and bad weather events. dClimate is a real-world, blockchain-based solution for the stagnation and fragmentation which currently plagues the climate data ecosystem.
2. Can you describe what dClimate is in a few sentences?
dClimate is the world’s first transparent, decentralized marketplace where climate data, forecasts, and models are standardized, monetized, and distributed. The marketplace connects data publishers directly with data consumers, making climate data more accessible and reliable. When data providers share data and forecasts with the market it is automatically scored for reliability, which helps consumers to shop for information. In exchange, dClimate creates a simple, direct-to-consumer distribution mechanism to monetize their work. dClimate’s native governance token is WTHR.
3. What is the vision and mission of dClimate?
The mission of dClimate is to incentivize innovation and advancement in the climate data sector by connecting providers of climate data (researchers, academics, government institutions) with consumers of climate data (businesses, governments, banks, multinational corporations, professional sports teams, etc.) in a single, standardized marketplace where all participants benefit. The climate data ecosystem as it exists today is highly fragmented, difficult to navigate for even some of the most experienced data scientists and climate researchers, and fails to incentivize independent researchers without large marketing budgets to be able to contribute our existing understanding of our planet. dClimate aims to solve these problems by creating the first standardized marketplace of its kind to incentivize innovation, transparency, and advancement for the massive climate data ecosystem.
The question from GTA to Dclimate
1) What special things in the dClimate project?
dClimate makes it easy for consumers to shop for climate data by leveraging Chainlink’s leading oracle network to support on-chain validation of all of the data that is supported on dClimate. This will give consumers peace of mind that the data that they are shopping for is reliable and trustworthy. dClimate, while built on blockchain, will also be accessible to non-Blockchain native users who may be more comfortable paying in fiat currency.
Currently, on the market are there any competitors?
dClimate is the very first decentralized network for climate data. There is no product like it on the market and the value proposition of the network will vastly increase as the need for reliable and secure climate data increases as extreme weather events become more frequent and intense due to a rapidly changing climate.
2) Could you tell more about dClimate’s roadmap?
The dClimate network is currently in full development mode and will launch this summer. Right now we are in the process of onboarding the first users to the platform (data providers and consumers) so that when the network launches, there will already be a solid foundation of data providers and data consumers using and benefiting from the dClimate infrastructure. dClimate is a real-world blockchain application to solve fundamental challenges that exist in the climate data ecosystem, and it is our hope that the platform will be the premier venue where businesses and individuals can go to retrieve the critical data and forecasts they need, and where data providers can go to host their research.
3) Can you share with us what is dClimate token use case?
WTHR is the native governance token of the dClimate network and allows users to participate in network governance and earn yield over time.
Questions picked from members of GTA community
1) As a community-based project, how can I donate my quota for your success? Do you have a Global Ambassador Program or a Referral Rewards System?
Yes, we will have many ways for the community to participate including rewards for referrals and contest prizes. Please join our telegram channel to stay up to date
What type of population is dClimate targeting? What kind of people or companies are your target audience?
We are targeting any business or group that is affected by weather risks. 70% of all businesses are estimated to be affected by the weather.
This includes financial companies who need to monitor investments, agricultural and energy businesses, logistics and transport companies and banks who have loan risk from floods, droughts, and other weather risks. We will also be adding analytics around carbon to help companies monitor carbon footprints.
2) What partnerships does dClimate have? And how are these partnerships collaborating with the development and promotion of the project?
We are developing partnerships across a range of companies, large and small. Many provide climate information currently and others will be end users such as commodity trading companies. We will be having many announcements on these over the coming weeks
dClimate is the world’s first transparent and decentralized marketplace where climate data, forecasts and models are standardized, monetized and distributed. How can consumers ensure that the climate data they access is highly accurate?
dClimate will have decentralized validation of data and forecasts so customers can see transparent metrics about the information they want. The open marketplace will also encourage competition between data providers to ensure those with the best data and forecasts succeed
3) The goal of dClimate is arguably unique, but what real problem does it seek to solve and how can its technology be applied to real life?
The real problem is that increasingly large numbers of businesses and people are affected by climate risk from floods, droughts, cyclones, and other natural disasters. Such risks need better data and forecast models to help manage financial and property risks
Increasingly, companies everywhere will need do disclose more of their climate risks and financial entities will be required by regulators to manage their risks due to weather and carbon emissions. All these use cases will drive up the need for climate data and models
Live-question during the AMA
1) What are your plans for your dClimate token to remain valuable in the long run? Do you have incentive strategies for dClimate holders?@sidjha
For token holders, we aim to provide staking yield, and next year, it aims to give royalty in stablecoin form from transaction fees. This will enable investors to earn returns for holding the token in stablecoin.
2) Where does the project name come from? What does it mean for you and why did you choose that name for your project?
The token is USA regulated and that offers investors transparency and security.
3) What is the secret to dClimate’s success? It seems most if not all of the projects you touch turns to gold in terms of ROI. Can you share your secret with us?
Our team is very experienced in building large-scale projects. We built a climate insurance platform from starting in late 2018 to expected revenue of over $50 million USD expected this year and growing rapidly. We have worked with the climate data system for years (and through our background in commodity trading before).
4) Nowadays, the game is becoming closer and closer to people, so your project will develop games in the future so that people can earn money from playing games like they can get points to reduce transaction fees, get codes to notice?
We expect to have contests, games to help the community be more involved. Coming soon as we get our platform built.
5) What are your plans while the group is just being formed?
We are very keen to expand in Southeast Asia and we have worked on pilot insurance projects there before