The Das ecosystem is excited to welcome Greenstorc, an exciting renewable energy solution harnessing heat from the ground, as the beta project which launches the revolutionary Das33 crowdsourcing platform on Friday.
DasCoin CEO Michael Mathias introduced Greenstorc CEO Paul Flynn on the NetLeaders Weekly Webinar and both explained how the arrangement between Das33 and Greenstorc would be brought to fruition.
New units called “premium tokens” will be digitally created on the DasCoin blockchain. Each token represents the potential for future value based on Greenstorc’s level of achievement of a designated key performance indicator (KPI), specifically the number of megawatts of production that Greenstorc creates.
With the help of Das33, cryptographic resources are pledged by interested participants, who in turn receive tokens corresponding to the project. Token holders are then paid a pre-defined premium once the designated KPIs are reached. The whole process provides a more effective and transparent way for token holders to participate in the growth of Greenstorc without sacrificing access to immediate market liquidity.
Tokens are initially distributed through a crowd sale facilitated through DasWallet, a KYC-authenticated digital wallet system. Once the crowd sale is completed, the tokens are released and can be actively exchanged on the DasExchange.
Officially unveiling Greenstorc’s collaboration with Das33, Michael said: “We’re finally at that moment we’ve been waiting for on Das33. Greenstorc will be the platform’s initial beta project. It’s a company that came to the attention of various people in the ecosystem about a year ago. This team is really impressive – a great idea, with great technology and fabulous people behind the company. Everybody is going to enjoy this company – and especially the people behind it.”
Paul, who has qualifications in business law and spent several years working in international compliance projects, entered the energy sector in 2009 and joined the offshore wind industry as it was launching, as an adviser for governments and energy companies.
Greenstorc represents a move away from wind-based energy solutions to the geothermal sector for Paul. He said: “I believe that starting now and going into the 2020s waste heat recovery is the direction renewable energy is going to move. And I’m so excited about the opportunity of Das33 and especially the new premium token format.
“You can have the biggest wind turbines in the world but if there’s no wind you have nothing. You can have the best solar panels in the world but at night you have nothing.
“Our base technology is 100 years old, we didn’t invent anything. One renewable energy that is always there is the heat below your feet. Tech is getting better at extracting heat from out of the ground and we are getting better at turning heat into energy.
“In places like Germany, France and the UK we can reduce carbon emissions which is the big goal and governments guarantee the income of an energy project.”
Half a billion in Africa have no electricity
There’s a different opportunity in other parts of the world. Paul continued: “In Africa, there are 500 million people who have no electricity, while only 8% of 13,000 villages in India have electricity. We can make a difference to people’s lives – people who don’t have electricity – right now and we are talking to various governments around the world.
“This is why I am so excited about Das33 and the premium token. We have an opportunity to attract resources through a trusted network, and then make sure we do what we say we’re going to do and install assets. The resources go into real assets you can touch.
“We produce energy and each time we bring a new megawatt online it will be registered on the blockchain. That will produce a premium that is distributed to the holders of the STORC tokens. The more we grow, the more premiums we will distribute, and this will allow us to attract even more resources in the future.
“The STORC token is linked to Greenstorc’s achievements of KPIs – it’s not linked to the value of our business. The beautiful thing about this is that its linked to the growth of the business and once we reach a certain level and we become a utility we become interesting to pension funds and other investment vehicles, they will bring other money to us as a company and it allows us to put out more assets and distribute more premiums to STORC token holders. The existing token holders still benefit as we attract resources from institutional parties.”
Greenstorc is the initial beta project on Das33. Future projects will undergo an evaluation process once they are submitted which will include a final assessment by an independent committee. This ensures that only the highest-quality projects will be introduced to the DasCoin community.