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The electric vehicle (EV) movement is taking the world by storm, as individuals and organization race to bring down their carbon footprint. According to the latest projections, the EV market size is set to grow to be worth $1,108 billion by 2030 with the EV charging industry at the center of it all.
Intertwined with the EV market, is the carbon credit industry, estimated to be worth 2.4 trillion by 2027. The idea of the carbon credit industry is to incentivize big corporations to limit the emission of carbon dioxide and other greenhouse gases.
Companies producing EVs quickly became the biggest players in the carbon credit industry, which has grown to be much more valuable than the electric vehicle market. Unfortunately, people buying these vehicles are locked out of the lucrative carbon credit industry—left in the hands of large corporations like Tesla, General Motors, Ford, and BMW.
On the bright side, a new kid on the block has come to change the narrative to ensure that the carbon credit industry is not just a preserve of wealthy companies but benefits everyone who is striving to reduce carbon footprints.
C+Charge (CCHG) is a Web3 blockchain project, changing the way EV owners charge their vehicles. First and foremost, this project currently in its presale aims to be the frontrunner in standardizing the EV charging process.
Launched in Q4 2022, C+Charge is one of the best crypto presales to buy in 2023. The team has raised $473k, far ahead of the first CEX listing on March 31, 2023. Currently, 1 CCHG token is worth $0.013, with approximately 123 million tokens left before the price shoots to $0.0165.
Manufacturers of electric vehicles release into the market different changing requirements – even equipment, a situation that has always complicated the lives of EV drivers.
How C+Charge Is Transforming The EV Charging Industry
A carbon credit refers to a permit, that allows the owner to release a specified amount of carbon dioxide or other greenhouse gases. Note that one carbon credit is equal to the emission of a ton of any greenhouse gas. Although big corporations are incentivized to cut their emissions to lower levels, they are penalized if the agreed limit is exceeded.
This penalty led to the birth of the carbon credit industry, which now supports the exchange of carbon credits, in that, a company with extra credits has the option of selling them and making money.
The essence of C+Charge is to build a robust peer-to-peer payment system supporting EV charging stations using blockchain technology. Users signing up on C+Charge will be allocated special electronic wallets used to pay for EV charging services at stations globally.
CCHG is the native token in the C+Charge ecosystem powering the payment system. The integration of CCHG in charging stations will significantly bring down operation costs, as it eliminates the need to have a point of sale.
The system is designed to be beneficial to all parties involved and in so doing, it allows EV drivers to earn carbon credits – stored in their C+Charge app every time they pay using CCHG. Token holders have not been forgotten in this system because they can earn carbon credits through “reflections.”
Why Investors Should Be Paying Attention To C+Charge
Many green crypto projects are championing a cleaner planet to protect the future of the human species and our generations to come. However, non can compare to C+Charge because it is the first off and on-chain project to push for the democratization of the carbon credit industry.
C+Charge is working to ensure standardization is achieved in the EV charging industry, starting with payments and much-needed transparency. The project believes it is built on sound technologies that will propel it in the right direction to be the standard platform across all swaths of the EV charging industry.
Some of the key elements C+Charge is implementing include the reduction in transaction latency, enhancement of transaction throughput, creation of efficient charging stations that support higher capacity for the expected growth in the EV market, and promotion of user experience.
All these elements will work together to support the adoption of EVs globally and subsequently reduce environmental pollution to benefit future generations. The C+Charge system can help governments around the world to better manage public charging stations while ensuring all stakeholders benefit from the carbon credit industry that has for a long time locked out the EV owner.
C+Charge is collaborating with Flowcarbon to provide tokenized carbon credits in the latter’s Goodness Nature Token (GNT). Once the EV drivers have paid for charging using CCHG at C+Charge partner stations, they will receive GNT tokens from the transaction fee coming from the charge. In addition to that, CCHG token holders will earn carbon credits from a percentage of transaction fees on a pro-rata basis.
The use of blockchain to power the allocation of carbon credits to EV owners is one example of real-life use cases for Web3 technologies. Note that after the user pays for charging in CCHG, the transaction details are added as a block in the blockchain following validation by miners. After validation is completed, the data is joined to the chain of blocks based on the me-stamps, and the Merkle structure.
Users have access to many benefits, thanks to blockchain technology. C+Charge claims token holders and users on the mobile app get information on real-time charger availability and functionality, they can track carbon credits, check the available payment options, locate charging stations and get up-to-date pricing data for different charging stations.
C+Charge has made its case as to how it intends to revolutionize the EV charging industry, including the introduction of NFTs. Members with carbon credits will be able to mint NFTs while still championing other real-world use cases.
Investors interested in the C+Charge presale can check out some of the best new cryptos to buy alongside CCHG. As mentioned, over $473k has been raised so far, with the price expected to rise to $0.0165 in the coming weeks. Hence, the need for investors to make haste and get a piece of the cake that aims to democratize the carbon credit industry from the dominance of big corporations like Tesla.
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