Investors are rushing to secure the limited, discounted presale tokens of highly touted green crypto start-up 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.

C+Charge also hopes to solve other key issues plaguing the EV charging market, such as the lack of a unified payments solution and lack of information on charger operational status and wait times.

In just a few weeks since the project launched its presale funding round, C+Charge has already raised close to $300,000. The project is currently selling its CCHG token, which will power its EV charging application, for 0.013 USDT, a highly discounted price according to some analysts.

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Some have gone as far as claiming the cryptocurrency could 10x when it launches on exchanges in just over two months.

How C+Charge Works

EV drivers will be able to use C+Charge’s currently in-development app to pay to charge their vehicles. Users will pay to charge their EVs using C+Charge’s native cryptocurrency CCHG. They will then 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.

Why C+Charge Could Be a Huge Hit

At present, EV charging is a notoriously complicated process when compared refueling a traditional fossil fuel vehicle. There are no unified rules on the type of hardware or payment solutions that charging stations need to offer. This makes it more difficult than necessary for EV drivers to recharge.

For example, while Tesla’s supercharger network is opening up to non-Tesla EVs, it is still very difficult for non-Tesla EV drivers to charge using this network due hardware and payment solution barriers.

Meanwhile, there doesn’t currently exist a framework where EV drivers can pay a charging station directly for its services without needing to go through a third-party intermediary. And there doesn’t currently exist a universal third-party subscription solution for EV charging station access.

C+Charge aims to remedy these problems. Anyone will easily be able to use the app without the need to pay any subscription fee. C+Charge aims to make its payment solution available to all charging stations, allow EV drivers to pay EV charging station providers directly in a peer-to-peer manner via the blockchain.

C+Charge, which is currently building its platform and setting up partnerships with EV charging station providers across the world, hopes to become the dominant EV charging payment solution. One of the platform’s key aims is to make EV charging a much smoother process, which is why it will also offer users a host of other useful features, such as real-time information on charger operational status and waiting times.

C+Charge Also to Benefit From Massive Carbon Credit Market Growth

The carbon credit market is booming as nations around the world step up their efforts to slow the pace of global climate change. According to a Reuters article citing analysts at Refinitiv, the value of traded carbon credits grew a whopping 164% in 2022 to 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.

Carbon credits allow polluters to offset their CO2 emissions by essentially funding carbon-negative projects via investments in carbon credits. While it is consensus in the scientific community that big efforts need to be made in order to bring down global CO2 emissions in order to avert the impact of climate change, the carbon credit market, for now, remains dominated by big players, and remains largely inaccessible to individuals.

Big manufacturing/industrial sector players get to buy credits on mass. Big sellers, like electric vehicle (EV) maker Tesla, get to sell credits on mass. Up until now, technology hasn’t been there to democratize access to this rapidly growing market.

Blockchain technology is changing that, with C+Charge leading the charge. The up-and-coming crypto EV payments platform hopes that by democratizing access to carbon credits for EV drivers, they might encourage/accelerate the transition to EVs from traditional fossil fuel-guzzling cars. Not only would this be a positive in the fight against climate change, but also in the fight against urban pollution, which causes thousands of premature deaths every year.

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