Hi, my name is Sunshinelady and I am involved in Web2 into the machine building industry.
I also have major experiences in Web3 and I kindly want to submit my proposal.
Idea
Implementation of NFTs for Carbon reduction compensation with an example of the steel industry! With Mintchain on the way to the green future!
Today:
All major industries in Web2 has seen worldwide changed markets and materials availibilties in the past years which been reasoned through war, inflation, freight delays and blocked sea freights, energy costs and Covid. All Web3 members know that the world is established on profit generation in the past decades which is reasoned by its fiat system. As profit stands before environment, we “forgot” over the decades to consider environmental issues. And we all are aware of the climate crisis.
All major industries around the globe are on the way to a green, permissionless carbonless future. Many companies fixed that in their strategy. We also see energy intense branches with a carbon dioxide emission. As an example I introduce the steel industry.
The yearly Co2 output in the steel production is around 55 Mio tons of carbon dioxide emission.
You can also imagine that the whole carbon emission is splitted threw the whole supply chain. See here an overview:
The main issue in today’s Web2 is – How do we measure those carbon emissions reliable? It is not possible tho to get reliable data. We are using simple estimations to measure this.
Mintchain…
…make this measurement now possible and sets the difference for the industry!
Use case:
Imagine you are a company who is selling water taps for households which are existing almost 95% out of of steel. You are connected to a wholeseller, maybe directly to the producer but it is also possible that there are other production steps in between over different processor until you have your water tap ready to sell. But you are also aware that this is carbon emission intense and at least you want to support all involved parties to reduce carbon emission. Imagine you have a chance to control and measure it now with Mintchain.
Mintchain is able to submit a specific water tap NFT which is needed for all involved parties. With my NFTs of Mintchain I am able to share this NFT to my steel producer as an identification. And you are able to onboard the typical web2 player into web 3.
But now…how to measure the CO2 emission of my steel producer / supplier?
In order to actually measure CO2 exchange, measuring instruments and data must be used. IoT devices (Internet of Things), sensors or other measuring devices (e.g. NDIR sensor in the foundry example) can be used to monitor CO2 emissions. The data is then fed into the smart contract, which verifies the measurements while the sensor is located in the production of my steel producer.
If the measurements confirm the reduction in CO2 emissions, the smart contract can automatically issue the corresponding amount of $MINT CO2 tokens to participants.
Benefits
As the market acts on profits we will provide a financial incentive for the steel producer to continually reduce its CO2 emissions as it generates additional income. This concept is
backed by Mintchain and opens the door for the upcoming $MINT token while it brings real utility.
KPI/ Transparency
With this concept we will bring a data basis as all measurement data entries can be established into my ERP system of my water tap company. We are also able to ensure a continuous measurement on RWA approach. I also can define reliable if I change my supplier or I also can define rough targets for this steel producer to set up a continuous improvement. I have a reliable data basis while I add a win win situation for the steel producer as he gets a financial additional income and improves his carbon emission output.
Strategical view for Mintchain
This concept opens a door to a new world while Mintchain acts as a first partner for major industries as a development partner because Mintchain has also the knowledge which is lacking yet in web2. It opens the doors to new industries while the token is established. With its Token and opportunities Mintchain is able to ensure all requirements over different companies through layer 2 while Mintchain fosters an environmental improvement.