Innovative life sciences business, Noumed, provides climate action leadership using the Zero Carbon Project to help tackle climate change
Noumed Life Sciences, a new UK life sciences company based in Maidenhead, is helping tackle climate change by using Zero Carbon Project and their innovative Zero Carbon Coin cryptocurrency. Noumed are providing climate action leadership because they are concerned about the potential damage caused by greenhouse gases in the atmosphere and the timeframes available to solve the problem.
Noumed switched their electricity supply to EDF’s nuclear energy to avoid 354 tonnes of carbon dioxide emissions. They earned Zero Carbon Coin rewards for their contribution and they reduced their energy costs.
Beond is the climate action business behind the Zero Carbon Project initiative. The Project idea is to reward people and businesses for contributing to the social good, rather than penalising them through taxes or pass-through costs. This is made possible through the Zero Carbon Coin utility token, with a value that is funded from the upside success of the Project.
The Zero Carbon Market
Beond’s Zero Carbon Market provides energy consumers with the full range of zero-carbon energy options. These include their cleanest Green Moments product, which matches renewable electricity production as it is consumed, every moment of the day. Other options include solar panels, batteries and PPAs. The Market also supports energy supplies offset by REGO certificates, green gas certificates and carbon permits. Noumed chose to switch to nuclear energy supplied by EDF.
Zero Carbon Coin cryptocurrency rewards
Energy consumers that switch using our Market earn Zero Carbon Coin cryptocurrency rewards. This is in addition to cost reductions, with zero carbon electricity often cheaper than electricity sourced from fossil fuels. Noumed earned 3,572 Zero Carbon Coins for switching to zero carbon energy.
Zero Carbon Coins are valuable rewards because they provide owners with a stake in the upside of the Zero Carbon Project. As more energy consumers switch using the Zero Carbon Market, demand for the Zero Carbon Coins increases and exceeds the supply, pushing up their price. For instance, from the Noumed transaction, EDF needs to purchase 35,527 Zero Carbon Coins across a crypto-exchange (either IDEX or Uniswap) in order to pay these transaction fees into a Zero Carbon Project smart contract.
Why the Ethereum blockchain?
We chose to use ethereum blockchain as the global software technology platform to manage the Zero Carbon Coin utility token economy. Blockchain provides benefits over traditional centralised software, as it assures community members that the rules of the Zero Carbon Coin token economy are fixed, guaranteed, transparent and cannot be changed. We do this by designing and deploying immutable smart contracts to the blockchain.
These smart contracts guarantee that the total supply of the Zero Carbon Coin tokens cannot be increased. It ensures that the rules for rewarding consumers cannot be changed and are the same for everyone. It also ensures that transaction fees received into the token economy are used transparently for accountability, based on the recycling and allocation rules specified in the smart contract.
Virtuous Circle tackling climate change
Demand for Zero Carbon Coins is driven by energy suppliers who need to purchase them in order to pay their transaction fees. The supply-side of the token economy increases more slowly, as energy consumers earn Zero Carbon Coins as rewards and hopefully hold onto them to continue helping tackle climate change.
We hope that a rising Zero Carbon Coin price will attract more energy consumers to switch to zero carbon energy. This will increase the demand for zero carbon energy, which could attract more investment into renewable farms or carbon reducing projects. We aim for these knock-on effects to result in a virtuous circle which helps solve climate change.
Competing with Bitcoin as a global cryptocurrency
Our Zero Carbon Coin token economy will strengthen as we attract more customers. Our ultimate aim is for Zero Carbon Coins to provide an alternative cryptocurrency to Bitcoin. Zero Carbon Coin’s edge is that it is backed by zero-carbon energy usage, globally decentralised.
Join the Zero Carbon Project revolution
Register with Zero Carbon Project to earn income for contributing to tackling climate change. Click here to register with a referral code to ensure you receive your referral reward bonuses: www.market.zerocarbonproject.com/register/tEOmK55D
Visit us at www.zerocarbonproject.com
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