[BEYOND BLOCKS] SEED tackles climate change with blockchain
[THE INVESTOR] Singapore-based blockchain firm Sino Eco Energy Development seeks to use technology to enhance the participation of ordinary people from around the world in mega green projects to tackle climate change and save our planet.
“Anyone can participate in mega renewable energy projects such as solar power plants, waste-to-energy plants. And when participation increases, the earth will become cleaner and more sustainable, ” SEED CEO Shin Young-keun told The Investor in a recent interview held in Seoul.
“We want as many people as possible to contribute in preventing climate change. Blockchain technology made that possible, because the distributed ledger brings many people from all over the world. Now, participants can easily invest in various green projects and earn profits, as opposed to in the past when it was only the large companies or institutions that ran energy infrastructure projects.”
SEED CEO Shin Young-keun speaks during an interview with The Investor.
Under the slogan “Saving earth, you can do it with SEED,” the blockchain firm is creating a platform where people can join environmental campaigns in two ways. First, individuals or corporations can invest in energy projects -- from wind power, hydrogen power plants to afforestation projects -- with the platform’s SEED coin. This is called “farming” on the platform, where “farmers” sow, or invest, the SEED coins in “farms” like renewable energy projects and green building construction. When the project is completed, they can harvest and make profits.
Users can also conduct activities that reduce carbon emissions such as walking or cycling, instead of driving, and receive ZERA coins as a return on the mobile app. ZERA coins can be exchanged for SEED coins at the exchange, for people to invest in other projects.
It’s first “farm” is the 55-story skyscraper SEED International Center, which will be erected in the heart of Jakarta, Indonesia in 2023. The eco-friendly complex will be constructed with materials that reduce energy consumption, by using solar panels, geothermal heat pumps and rainwater harvesting to minimize carbon emissions. SEED is now inviting prospective farmers to invest in the project.
It is also reviewing various energy projects in eight different countries, including Korea. Once the projects are confirmed, it will get more investors on-board. The company is in talks with major infrastructure companies and environmental organizations for partnership.
“Energy projects need people to be successful,” he said. “One of the reasons behind improved air quality in Shanghai and Beijing could be attributed to the bike-sharing industry that become such a hit. Just like that, everyone’s small participation can make a huge difference and slow down global warming.”
For participants, earning profits could be a huge motivator to join the campaign, said Shin. “Energy projects have high demand and returns. People can earn money easily, while investing in the good cause. They can choose the country, type of projects and really get involved.”
SEED recently completed the presale of the coins, and is planning to conduct an initial coin offering this month.
“For us, the ICO is to raise awareness of our project that can save the earth and get more people excited about it.”
By Ahn Sung-mi (firstname.lastname@example.org)