Sharing their views and work on carbon offsetting and trade, footprint and neutrality, Rao said, cryptography makes a bright and volatile market. Edited excerpts from the interview:
What is Kichee? Why is it called the first negotiable super-sustainable blockchain token in Bharat (India)? Tell us about this blockchain, its functionality and its usefulness? How will it affect users?
Kichee is Bharat’s first super-sustainable blockchain token. Kichee, which is limited in terms of carbon credits, aims to be a cryptographic tool that allows people and businesses to make a carbon-neutral investment without problems. Not yet done with any blockchain token in the country.
Each Kichee token has the value of 100 kg of CO2 or equivalent emissions avoided in a year and is backed by a 1:10 certified carbon credit. Kichee is linked to audited carbon reduction projects such as renewable energy, water credits, methane avoidance, plastics recycling, and more. An authorized blockchain auditor audits each coined Kichee listing.
With a single Kichee token, footprints on different fronts and carbon can be reduced as it includes credits generated by other emission prevention projects such as water credits, plastics recycling, waste treatment, and so on.
The Kichee token can be used for gaming, metaverse, trading, offsetting, gifts, exchanges, and digital assets. Businesses can reduce their carbon footprint and achieve better ESG ratings by using these tokens. They can also use them to achieve Net Zero goals and become sustainable. Similarly, individuals can contribute to climate change mitigation by reducing their carbon footprint.
Being a wrapped token, Kichee enables interoperability. Increasing interoperability increases liquidity and allows investors to earn fixed income through smart contracts. It also offers users more features compared to normal encryption. Smart contracts are pre-programmed self-execution protocols. They are considered a core technology in the blockchain industry.
With rising carbon emissions and higher gas rates, cryptographic assets have been heavily criticized for environmental degradation. What is your opinion on this? And what about your listing? How do you plan to offset the issue? Is zero emissions enough or are you willing to contribute to the positive side of the environment as well?
All human activity leaves traces of carbon, but there are ways to control emissions. There are many factors that make a cryptocurrency asset sustainable. As of now, there has been a significant focus on energy consumption for token mining. However, it should be noted that companies are using renewable energy for mining.
Unlike other cryptocurrencies, wrapped tokens like Kichee do not have large issues.
By buying a Kichee, which has taken advantage of carbon credit to make a token, one is becoming aware of the weather and is doing its grain for the weather. It can also help the environment as it is like buying carbon credits. Essentially, if one is flying and has contributed to carbon pollution, one can buy a Kichee plug and burn it and offset the carbon credits.
What are the opportunities for you in this spectrum? What do you offer investors? Why should investors choose Kichee over other sustainable tokens? Please explain Kichee’s niche?
People’s interest in cryptocurrencies has skyrocketed in recent years. The year 2021 can be considered a breakthrough in many ways. It has emerged as a hot topic among investors and in popular culture. But at the same time, the crypto industry is still in its infancy and is constantly evolving.
With regulation and institutional adoption of crypto as payment methods, things will change a lot in the long run. It means there are enough opportunities in the industry.
When a large population of millennials and GenZ are ready to invest in crypto, they have the ability to take risks. Millennials who are advanced enough in their careers have disposable income available to investors and a long time horizon before retirement.
As an encrypted crypto, Kichee offers an opportunity to invest and fight climate change. Kichee offers more with low emissions and the ability to contribute to carbon credits and climate change. In a world that is moving toward digitalization, decentralization, and democratization, chips like Kichee have a bright future.
What is your market dynamics? Where are you listed besides India? What non-Indian scholarships are you aiming for to publish? Have you joined any major investors?
We are very tidy with our market dynamics. Kichee is not for industries that want to offset their carbon emissions without becoming a net zero. Our goal is to reduce current emissions and eliminate previous emissions from the atmosphere to reverse climate change and prevent serious consequences.
For industries that don’t understand this, Kichee is not for them. It will be of interest to all people in the 18-50 age group interested in cryptocurrency investments and climate change mitigation, environmental protection, carbon offsets, and more. Communities and people working on these causes will find Kichee very interesting.
Our plan is to list Kichee on Coinbase, BINANCE, Wazirx, CoinDCX, and more. We have some individual investments for mass coinage of Kichee coins, and we have a good order book before the pre-sale sale.
In addition to carbon emissions, what are the other issues you are optimistic about? What cryptocurrency investment scholarships can be seen to salvage decent profits amid the current sadness and volatility?
We focus on topics such as sustainable development, SDG 2030, zero nationally determined contributions (NDC), climate change mitigation, voluntary industrial action, digitization of climate change reversal actions, carbon finance, nature-based solutions, market voluntary carbon, incorporating climate change mitigation into the blockchain, and so on.
Crypts are a bright and volatile market. Kichee and wrapped chips give it a good amount of stability. Kichee will interest everyone. Being an involved asset and a cryptocurrency with a cause, Kichee will attract all the pockets of cryptocurrency investors. We will understand investors and their responses only after launch.
However, we must make consistent efforts to educate and inform all market investors about the benefits of maintaining Kichee. Given the greater environmental concern among people, we are very optimistic about the response.
(Disclaimer: Expert recommendations, suggestions, views, and opinions are your own. These do not represent the views of the Economic Times.)