Cointime

Download App
iOS & Android

Crypto-Based EV Payments System is a Huge Use Case for Blockchain, So Invest Now in This Future-Proof Project

Carbon credit markets are booming as countries around the world take action to try to mitigate the climate impact of their CO2 emissions. According to analysts at Refinitiv, the value of carbon credits traded increased by 164% in 2022, reaching a total trading volume of $851 billion.

Meanwhile, according to analysis from Coherent Market Insights, the market cap of the global carbon credit market was around $211.5 billion in 2019 and is expected to grow to over $2.4 trillion by 2027. Carbon credits allow polluters to offset their CO2 emissions by essentially funding carbon-negative projects via investments in carbon credits. 

But carbon credit markets remain notoriously centralized. Big manufacturing/industrial sector players get to buy credits on mass. Big sellers, like electric vehicle (EV) maker Tesla, get to sell credits on mass. But what about individuals?

Shouldn’t there be a way for individuals to be rewarded for their climate-positive actions – such as owning and driving an electric vehicle rather than a fossil fuel car? Up until now, technology hasn’t been there to democratize access to the rapidly growing carbon credit reward market.

But a new crypto start-up called C+Charge is looking to change that. The upstart company is looking to realize a key blockchain use case by, for the first time, allowing EV drivers to earn carbon credits every time they charge their vehicle.

C+Charge – Rewarding EV Drivers With Carbon Credits

C+Charge is developing a peer-to-peer blockchain-based electric vehicle charging payment system designed to open up the carbon credit reward market to the drivers of EVs, like Tesla.

EV drivers will use C+Charge’s currently in-development app to pay to charge their vehicles. They will pay using C+Charge’s native cryptocurrency CCHG and will be rewarded with carbon credits in the form of Goodness Native Tokens (GNT), which will be stored in their account on the C+Charge app.

GNT token represents a verified voluntary carbon credit and is backed by venture capital firms a16z Crypto and Samsung Next as well as fund manager Invesco. The more EV owners charge and drive and the more CCHG they spend, the more GNT they will earn.

CCHG owners also have an opportunity to earn carbon credits passively. There is a 1% tax on all transactions that C+Charge uses to purchase GNT carbon credits and then distribute them proportionately amongst CCHG token holders.

As well as acting as a payments platform for EV charging and a carbon credit tracker, C+Charge’s application will also help users easily geolocate nearby charging stations and will offer useful information such as real-time charger wait times and charging station technical diagnosis.

C+Charge hopes that its platform can accelerate the transition to EVs around the world by resolving key problems with the current charging infrastructure – by rewarding drivers with carbon credits, by making pricing more transparent and by allowing drivers to track the operational status and wait times of nearby stations.

How to Invest

C+Charge recently opened up a presale of its CCHG token in order to fund its development and investors have been rushing to secure their bag. Indeed, a crypto whale recently banked a massive $99,000 worth of CCHG tokens in one whack, as can be verified here on per BscScan.

In just a few weeks since the project launched its presale funding round, it has already raised over $250,000. C+Charge is currently selling its CCHG token, which will power its EV charging application, for 0.013 USDT, a highly discounted price according to some analysts. Some have gone as far as claiming the cryptocurrency could 10x when it launches on exchanges in just over two months.

Investors should also be aware that C+Charge is conducting a $50,000 giveaway. Investors must hold at least $100 of CCHG on the day of the draw to be eligible to win the prize.

Comments

All Comments

Recommended for you

  • Xinjiang launches special campaign to combat illegal fundraising, with key areas including virtual currency, blockchain, etc.

    According to Chang'an Xinjiang Public Account, Xinjiang Autonomous Region and Corps have launched a joint special action to crack down on illegal fund-raising, with key areas including third-party wealth management, fake private equity, fake gold exchange and other traditional fields, as well as emerging fields such as virtual currency, blockchain, cultural tourism, film and television investment, and debt resolution services. It is reported that key cases include cases involving more than 100 million yuan and cases that have been criminally filed for more than five years.

  • A British court has postponed the final sentencing of Wen Jian, a British-Chinese national involved in the country's largest Bitcoin money laundering case, until May 24.

    On May 11th, it was reported that Jian Wen, a 42-year-old British Chinese citizen, was found guilty of "participating in arranging money laundering" in the UK's largest Bitcoin money laundering case. He could be sentenced to up to 14 years in prison. Jian Wen's defense lawyer, Mark Harries, stated that due to the judge's busy schedule, the UK court has postponed Jian Wen's final sentencing, which was originally scheduled for May 10th, to May 24th.

  • Web3 startup Star Nest completes $6 million in Pre-A round of financing

    Hong Kong Web3 music startup Star Nest announced that it has completed a $6 million Pre-A round of financing, led by Chuangqi International Limited, a wholly-owned subsidiary of Hong Kong Stock Exchange-listed company Guofu Innovation. Star Nest will collaborate with Armonia Meta Chain to develop the Star Nest SpaceStar metaverse game, which includes music, role-playing, and social features.In addition, Star Nest plans to launch its NEST project in the third quarter of 2024. Nest will receive 2.1 billion NEST tokens tailored for the project, and Star Nest will use the NEST token to build a more complete music industry token economic system. The NEST token will be widely used for purchasing performance tickets, chain game cooperation, metaverse consumption, governance voting, and other activities.

  • Over $594 million worth of PYTH is staked

    According to Dune data,  there are currently 1,201,167,362 PYTH tokens in the staked state, with a total staked value exceeding $594 million. The number of PYTH stakers has reached 151,211.

  • US Department of Justice: Tornado Cash indictment has nothing to do with "free speech"

    On May 11th, the US Department of Justice explained why the motion to dismiss the criminal case against Tornado Cash founder Roman Storm was invalid. The Department of Justice reiterated that their indictment was not related to whether the Tornado Cash computer code had freedom of speech or was protected by the First Amendment of the Constitution. The defendant was not charged for publishing computer code, but for using it to facilitate profitable illegal activities.

  • USDC circulation decreased by $100 million in the past week, with a total circulation of $33 billion

    According to official data,as of May 9th, Circle has issued approximately $2 billion USDC and redeemed approximately $2 billion USDC in the past 7 days, with a decrease in circulation of approximately $100 million. The total circulation of USDC is $33 billion, with a reserve of $33.1 billion, including approximately $3.3 billion in cash and Circle Reserve Fund holding approximately $29.8 billion.

  • SEC rejects Coinbase's request for appeals court ruling on cryptocurrency rules

    The US SEC has rejected Coinbase's request to appeal to the court to review whether traditional securities rules are applicable to cryptocurrencies. In its application, Coinbase stated that it hoped the appeals court would consider whether the Howey test, which has long been used for securities evaluation, should be applied to digital assets. However, the SEC pointed out that Coinbase has not successfully demonstrated the need for such an evaluation. The SEC stated that Coinbase is attempting to create a "new legal test," but this attempt was rejected by the court. The court found that Coinbase's arguments lacked consistency and did not successfully demonstrate the existence of decisive issues. Currently, the judge responsible for hearing the SEC's case against Coinbase will make a ruling on Coinbase's intermediate appeal motion.

  • Colombian President Suspected of Accepting $500,000 in Illegal Crypto Donations

    Colombian President Gustavo Petro is suspected of accepting over $500,000 in digital token donations from a fraudulent cryptocurrency project during his 2022 election campaign. A former contractor revealed that the illegal donation occurred during a meeting in February 2022 that discussed the advantages of cryptocurrency and the possibility of working with the government. This allegation is one of the latest charges faced by President Petro during his election campaign, with the Colombian Prosecutor's Office investigating his campaign last year.

  • Fed's Kashkari: The bar for another rate hike is high, but it cannot be ruled out

    The Federal Reserve's Kashkari expressed a cautious attitude towards restrictive monetary policy; he is adopting a wait-and-see attitude towards future monetary policy; he is in a wait-and-see state to see if inflation is stagnating; the threshold for raising interest rates again is high, but this possibility cannot be ruled out; if inflation data supports it, the Fed will maintain interest rates.

  • The address that defrauded 1,155 wBTC has returned more than 96% of the funds to the victims

    Blockchain data shows that the address poisoning attacker lured users to send 1,155 Wrapped Bitcoins (wBTC) (valued at $68 million at the time) to them. The attacker has returned almost all of the stolen funds. These funds were exchanged for Ethereum (ETH) during the attacker's holding period, and the price of ETH has since fallen. However, the attacker returned about 22,960.07 ETH, worth about $65.7 million, which accounts for over 96% of the initial stolen funds in terms of US dollar value.