Name of Project:
PROOF OF CLIMATE
Ticker for Token:
Name of Project:
PROOF OF CLIMATE
Ticker for Token:
1) In one sentence or less, describe your token. This isn’t the time to get wordy, just to the point!
One token that represent a way to protect you against climate events that may affect crops or business
2) Do you have a video to introduce yourself or explain the token? Upload it here and share the link here. (Not required)
3) Do you have a logo for your token? If so, upload it here. (Not required)
4) How does your token work? Be as detailed as possible:
An oracle that tracks climate events and delivers the data to the dApp according to the variables chosen by the token holder at dapp.
The Idea is to be a trustless dApp where you stake POC and choose one of the preloaded climate events like drought, excessive rain, excessive cold, excessive heat. All established according with the average.
IE: I want to protect my crops that potentially revenues me 10k, against excessive rain for 6 months:
I stake my 500 USD equivalent in POC on RAIN+20% (more than 20% over the average) for 6 months.
If the climate event confirms I don’t need to prove any. The DAPP will unlock the payout to cushion my loss after the period is finished.
If not, I just lost my tokens. (it may partially be burned and partially added to the funds)
To start, some value, between 5% to 10% you will stake to have protection for 6 months.
After the adoption gets bigger, the funds can afford more risk for less % reducing the costs for the farmers.
IE: Let’s say I’m a Winter Apparel Manufacturer, I can choose loss of winter (let’s say COLD -20%) to be a cushion against my lower winters sales b/c people are less likely to buy winter clothes.
The more we have people staking on the opposite sides of a climate, the more it will be beneath both because the balance reduces the exposition to the whole system… and next season you can have lower rates.
5) What problem is your token aiming to solve? How will this positively impact the crypto industry?
Decentralised and autonomous insurance to cushion money loss caused by climate events.
6) What was the inspiration of this token? How did you think of it?
Only big agribusiness players are able to access the insurance for their crops, the family farmers that are not using chemicals to grow their crops are on their own.
Small business owners have the same problem. When found some insurance company they charge a value that’s not fair or they ask for lots of proven documentation for your loss.
I was an entrepreneur working on the mountaineering apparel market and experienced some of those losses over that time. In 2013, I moved to a small town up on the hills of Minas Gerais and started to experiment with some agricultural productions. Learning about agroforestry systems and organic cultures I teamed up with some more local organic farmers to share experience and learned what we achieve from our work on the land.
In this group, we found how hard it is in our country to access loan, insurance and support for small farmers and organic growers cultures.
7) Are there any projects out there doing something similar?
With help of the XIO community I just learned about Etherisc’s crop insurance initiative. But this is using the blockchain to hold data form the farmers and besides that, while it is a non profit initiative, it is a centralized one.
8) What phase is the token in? Explore vs. Build vs. Launch vs. Scale. (If there has been no coding yet, your token is in the explorexplotarion phase)
9) Will this token be inflationary, deflationary, fixed, or dynamic token supply?
10) How long do you think it would take to build a minimal viable token?
11) What skills do you have that would help bring this token to reality? (ex: Marketing, Development, Branding, etc)
I’m an entrepreneur and started to run my first business when I was 16 years old. I have some knowledge on foreign trade, graphic design, marketing management, branding and I’ve been learning about blockchain and crypto since 2013… I love to learn new stuff and the way I do that most efficiently is teaming up with people engaged in similar pursuits.
12) Are there any inherent weaknesses or obstacles to building this token? Any items you still need to figure out?
Adoption for not very techie farmers.
Another challenge is to add the location factor on it and let the oracle verify if there is enough data about weather… Maybe some locations will not be available on the first moment…
If you want to share your Twitter/Telegram handle here for people to reach out and discuss this idea with you, post them below.
This is where you can put anything you want that was not directly asked above! Anything and everything related to your token idea can go here. Any files, links, info, etc
My inspiration came from the small organic farmers but this can be used for anyone who are exposed to weather including your barbecue party or your AirBnb lodge that will not be rented if you have a raining season…