Dethroning Climatic Changes and Rising Fuel Costs with Fulltoken’s Energy Value Chain

Dethroning Climatic Changes and Rising Fuel Costs with Fulltoken’s Energy Value Chain

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March 8, 2019 by Editor's Desk
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Envision a world where everyone can avail fuel at cut-price, at verified carbon neutrality (carbon at an acceptable level), and can even buy the same with other units of value than monetary ones. FullToken is a revolutionary energy tech startup gearing up to provide affordable and carbon neutral energy over the Blockchain. In recent times,
Fulltoken

Envision a world where everyone can avail fuel at cut-price, at verified carbon neutrality (carbon at an acceptable level), and can even buy the same with other units of value than monetary ones. FullToken is a revolutionary energy tech startup gearing up to provide affordable and carbon neutral energy over the Blockchain.

In recent times, we have seen climatic changes due to the emission of excessive carbon dioxide and other GHG (greenhouse gases) which results in drastic climatic changes which is causing a global climate crisis. Moreover, the push back of the carbon tax which is one of the policy that is available to the governments to reduce GHG emissions is hampering the working of many businesses as well as the direct consumers. Some of the problems are- unaffordable fuel, cost inflation, bureaucrat-managed carbon funds which cites a question of actual carbon reduction efficacy, no direct benefit to the paying customers, and neither do the consumers have a choice in allocation of carbon funds.

Striking a great balance between the approximately $115 Billion valued Blockchain ecosystem, $5 trillion/ year petroleum industry, and $40 Billion/year carbon credit and offsetting market, FuelToken aims at seeking a new kind of energy value chain for a better future. Fuel token vanquishes the prolonged issue of climate change where each barrel of fuel consumed by the customer is under carbon offset. Also, conservation and efficiency are highly encouraged and the users are incentivized for the same. Their blockchain powered decentralized mobile application allows the user to use variably available balances for conversion into fuel cards, airline miles, and likewise.

It offers popup promotions for in-gas station purchases, travel, and conservation minded freebies. In the same way, it shows follow-up content from the ongoing carbon offset projects to which the customer contributed in the past. FullToken has applied Blockchain technology to decentralize the entire working of the fuel and gas ecosystem. An Ethereum based open protocol smart contract, ERC-20 (Ethereun Request for Comment), is used to tokenize the trade for the exchangeability of tokens’ utility value. The petroleum logistics, trading, and carbon offset verifications are engineered over the IBM Hyperledger Fabric.

 

Salient Causes for an Effectively Lower Fuel Price

By acquiring petroleum in bulk on a CIF (Cost, Insurance and Freight (CIF) means the seller pays costs, freight, and insurance against the buyer’s risk of loss or damage in transit to the destination) basis, discounts to the posted benchmark prices can be expected.

FullToken.io would partner with reputable carbon offset projects globally and source the best cost per CO2/ton offset pricing. Token holders would be able to select which project to apply credits to from the application.

Token holders yet to utilize the value of their held tokens may opt in advance to reapply the post-carbon-offset adjusted units of utility towards an additional cycle through the FullToken.io process. In such cases, FullToken.io would airdrop new tokens to the token holder’s wallet. FullToken.io may issue additional tokens to be airdropped as a way to create incentives for their users.

Token holders opting to use the utility of their respective tokens may do so by receiving a Blockchain distribution via fuel card credits. Such distribution is managed on the application and transacted over the Blockchain-based distributed ledger. This results in lower cost for fuel despite the cost of embedded carbon offsets

FullToken Product Outline

The user has to download the FullToken DApp. After which he/she can buy FullTokens for trading. Then the FullToken trade engine calculates the redeemable available balance for conversion into credits Nike Fuel Card credits, Air Miles credits, or energy bill credits. A carbon offset project is to be picked or the user could reapply balance to compound value.

FullToken.io will help propel the petroleum industry by offering heightened efficiency, sustainability, transparency, and accountability on a distributed ledger. In this way, both the consumer and the producers can gain credit for the good outcome that these carbon offset projects do. The future of the petroleum industry seems to be under constant improvement with more and more use cases coming up powered by Blockchain Technology.

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