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Blockchain Based EV Charging is a Major Crypto Use Case – $1.27m Raised So Buy In Presale Before Next Price Rise

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C+Charge website

Fossil fuel-powered modes of transportation account for around 27% of global CO2 emissions, according to the US EPA, making transport a massive contributor to climate change. It is thus widely agreed that, if climate change is to be minimized, a transition towards electric forms of transportation is a top priority.

A big part of this transition to electric transportation is the adoption of electric vehicles (EVs). While not perfect – building EV batteries remains is very “dirty” business – the emissions associated with an EV over the course of its life are still substantially lower than with traditional fossil fuel vehicles.

And lower CO2 emissions aren’t the only reason to transition to EVs. More EVs on the road and less traditional fossil fuel vehicles means lower air pollution, which is particularly important in urban areas. Indeed, air pollution remains a leading cause of premature death worldwide. EVs also reduce noise pollution, another big problem in urban areas. According to the UN, noise pollution has a negative impact on risks relating to cardiovascular and metabolic diseases.

Any new technology or product that might accelerate the transition to EVs is thus highly desirable, from an environmental perspective. Blockchain-based EV charging payments solutions that reward EV drivers with carbon credits has thus been billed as an important crypto use case.

Up until now, this use case has been purely theoretical. But a new green crypto start-up called C+Charge has arrived to make carbon credit rewards for EV drivers a reality. C+Charge is building a revolutionary crypto-based electric vehicle (EV) charging application that will, for the first time, reward EV owners with carbon credits every time they charge.

C+Charge Also Aims to Remedy EV Charging Problems

Thanks to companies such as Tesla, who have driven rapid technological development in the EV space, making them better, cheaper and more accessible to individuals, the transition to EVs is well underway. Indeed, the number of EVs in the US rose 87.5% in the first half of 2022.

However, infrastructure is struggling to keep up. Over the same time period, the number of charging stations rose just 31%. Not only are there not enough chargers, but EV drivers lack real-time information as to which charging stations are currently operational and pricing isn’t transparent.

These problems, alongside that EV drivers don’t at present get rewarded with their fair share of carbon credits, hinder the global transition to EVs, hampering our collective battle to slow climate change.

C+Charge wants to remedy these issues. Lets examine what the platform is in more detail.

What is C+Charge?

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.

Visit C+Charge Here

How to Get Involved

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 months since the project launched its presale funding round, it has already raised nearly $1.3 million. C+Charge is currently selling its CCHG token, which will power its EV charging application, for 0.016 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.

Potential investors should note C+Charge is also conducting a massive $50k giveaway.

C+Charge to Benefit From Massive Carbon Credit Market Growth

As nations around the world rush to reduce their climate impact, carbon credit markets are expected to experience massive growth in the coming years. 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. But the carbon credit market has a big problem. Its centralization and concentration.

The carbon credit market remains dominated by big players and remains largely inaccessible to individuals. Up until now, technology hasn’t been there to democratize access to this rapidly growing market.

But C+Charge is looking to change that by harnessing the power of the blockchain to offer EV drivers carbon credit rewards for the first time. Observers think the platform could be a massive beneficiary of the carbon credit market’s future growth.

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  This article was written for Business 2 Community by Joel Frank.
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Author: Joel Frank

Since graduating with a degree in economics in the UK in 2018, Joel has worked as a financial market/cryptocurrency analyst. Joel firmly believes that emerging crypto technology will transform the world for the better through the facilitation of decentralization. Joel has written for a variety of cryptocurrency and financial market media…

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