2022 RED Project Update – weeks 15-16

red project update weeks 15 16

Haven’t you gotten used yet to the fact that the RED platform is trying to keep up with the latest developments in technology and sustainability and at the same time satisfy the needs and desires of its users? 

Now, with the newest status report of our activity after almost 4 months of 2022, we accomplished most of the important business part of our tasks – Franchise workflow, Integrating Sustainable Projects and Carbon Footprint Calculator for Companies – and we are refining now the additional features and subtasks, like RED Standard – our most awaited auditing tool for sustainable projects, finalizing the whitepaper and marketing and community approach. For those who didn’t read the last update, check the bottom of this article to see all the Reports.

Here is how our team brings some changes to the platform and the purpose them:

Carbon credits payment with FIAT, MWAT, BTC, ETH

First of all, we thought about what we can improve in sustainable projects. So we came up with the idea to make the payment to our users simpler and more accessible and that’s why we added Fiat as the payment method.

Thus, users who will add their sustainability projects have the option to pay according to the currency they want. In addition to these 5 new options, they can also use, of course, our MWAT token.

Any project developer will be able to choose the form of payment they desire and the users who purchase the carbon credits will need to use the currency requested by the project developer for the purchase.

What is the reasoning behind this? Our first partnerships are already quite big and forcing them to gather only MWAT to pay the fees for our services will generate very high volatility in terms of price action and/or long-term needed to get all that MWAT amount. This will determine a general cost much higher than FIAT’s initial cost estimation. So, until the liquidity of MWAT is prepared for receiving this kind of request, we have to use supplementary tools to make the business work.

The second argument is considering the easiness of the process flow for companies: calculate carbon footprint, buy sustainable tokens and offset them for getting a certificate. It is not too comfortable for an accounting department to use the money of an ordinary company that doesn’t have any contact with crypto until now for buying crypto and using it for payments.

red sustainable projects

VAT addition to COUs based on buyer’s location

We all know about value-added tax (VAT). Well, being a consumption tax levied on the value that’s added to goods and services, it is impossible to get rid of it even on our platform. Therefore, it will be calculated and appear automatically on the invoice once the payment is made by the user.

Other developments

Like we’ve told you before, the first three tasks are finished, so the main energy is directed to have the following finished ASAP:

  • RED Standard  – first draft ready, pending the latest IT implementations to be ready. After deployment, some test period to refine the flow is reserved and the launch will be scheduled in August. Several partners are waiting already for our standard and we will be happy to deliver it in a few days and start integrating them into our platform. However, besides franchisees, anyone of you is invited to spread our services to the community and society, especially for organizations that are developing sustainable projects – like reforesting, green energy, or recycling, for helping them gain an additional income to support their activity.
  • The Franchise chapter is getting more information and training materials to help our actual and potential partners to develop this side of their business. This content will be available for them starting in May.

Also, as a minor but visual impact tweak: Franchise Marketplace has been updated to show franchises and services on the map:

red franchise map

This will allow clients to find their preferred franchise on the list.

  • The Whitepaper V2 is facing the last technical proposals. It has now 49 pages and two chapters are not added yet. Our target is to finalize it as soon as possible, but we depend on some evaluations, legal and technical, to be sure everything there is accomplishable.
  • The Carbon Footprint Calculator has been launched, a few calculations have already been made by our franchisees and we will overlook this process for the beginning to have a smooth start of the feature.

red platform

We are continuing to develop. Your hot requests will come to our priority queue soon – like new exchanges listing, marketing and visibility campaigns, partnership announcements and activities.

As long as our content and communication are increasing in number and will become more targeted oriented (for Franchisees, Carbon Offsetting Customers, Sustainability, Partnerships, Live Video Interviews, etc) this bi-monthly report will become monthly and will summarize the activity from the previous period.

Presentation for Corporations and Small Medium Companies will be completed in the following weeks – these tools are developed by the Marketing and Corporate team and will be used for a better approach to the business clients. One presentation is developed for Carbon Offsetting needs and one is for Sustainable Projects. A standardized look of us and our Franchisees will increase our business perception as a unitary voice, more trustful and powerful.

Stay tuned and please subscribe to all our Social Media channels: Twitter, Linkedin, Youtube, Instagram, Facebook, Telegram and soon, Discord, and GIVE US YOUR SUPPORT to make RED known everywhere. It’s time to start to grow together with and for the community!

Twitter

Linkedin

Youtube

Facebook

Telegram

Discord – soon!

RED Platform Project update

The next update will be on Monday, 30th of May.

For any questions, please fill the form with suggestions here.

We will also answer twice a month or weekly if there are many things to discuss.

Useful links:

www.app.redplatform.com 

You can see the previous update here:

– Status report 2022, weeks 13-14

– Status report 2022, weeks 11-12

– Status report 2022, weeks 9-10

Status report 2022, weeks 7-8

Status report 2022, weeks 5-6

Status report 2022, weeks 3-4

– Status report 2022, weeks 1-2

– End of the Year 2021 Report

Published: April 23, 2022

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