2022 RED Project Update – weeks 9-10
The target for the month of March is for the RED platform to have a full set of sustainability tools that will allow companies and individuals to calculate, reduce and offset their carbon footprint in one place, and through blockchain technology.
Sustainable Projects on the Platform
As we are getting ready to onboard new sustainable projects on the RED Platform, some from already certified projects and others that will be certified with the RED Standard, we would like to offer more in-depth information related to this side of the business:
As we are launching the final phase of the sustainable projects onboarding process, the fiat payment option, which will undergo a testing phase in the following two weeks, we are preparing to onboard several projects: solar projects and from other areas of activity that will be certified with the RED Standard and presented in a further article.
What is important to retain now:
- we are open to any existing or newly-initiated sustainable project. We can trade any sustainable token.
- our prices will be more flexible and market-oriented to sustain our clients’ interests. This should increase the liquidity and number of trades on the RED Platform.
- as long as we are developing and finalizing several sustainable schemes of calculus for different fields – like recycling, reforesting, electric mobility, etc. we will be able to embark several projects in a short time.
This will generate incomes for RED Platform from two directions:
- fees from generating GTK on RED Platform
- fees from selling the GTK
These revenues are used for covering the maintenance and developing costs of the Platform, but also for marketing activities to attract more clients and partners.
The timeline from starting the claim process until completing it is about 24 hours. Project developers need to provide the papers requested on the platform, to fill in some data related to the claiming and in less than one working day, these are reviewed by our staff and the GTK will be in their account once the documents and information are correct.
Here comes the advantage of blockchain vs traditional ways:
- Avoiding double spending
- Traceability of a GTK – from the project who issued it until the entity that burns it for getting a Carbon Offsetting NFT Certificate.
We will present to you successful examples and how-to’s to attract more clients, more projects and more partners to extend the business globally in a very short time.
Our next big step – the RED Carbon Standard – is in development. This is a normal step in the business course for dramatically reducing the costs and time for being certified. Our estimated time from inception until getting the certification is about 5 weeks, much, much less than the actual length of the process on other platforms, which could take more than 6 months, even years and we didn’t open the discussion about costs.
This task should be finalized soon and will be an important tool for our #REDFranchisees to onboard new sustainable projects as future clients and to increase their incomes. When our certification process will be ready, the owners of the Sustainable Projects could choose between a public list of validators from UNFCCC (United Nations Framework Convention on Climate Change), but also from validation service providers onboarded by RED (certified Institutions and even #REDFranchisees).
This is the second source that generates incomes for #REDFranchisees from the same project, another strong point to be noticed and could become the most important one for getting revenues.
The Whitepaper V2 is waiting for several validations, so nothing important is to be revealed at this time. Exciting use cases for MWAT are considered and we need to carefully examine each of them to have a smooth process.
Corporate Carbon Footprint Calculator
The Carbon Footprint Calculator for companies is ready and will enter the test phase tomorrow. Depending on testing results, the completion of this task could be done this week or the next one. This represents one of the main tools for offering sustainability services to companies and will help franchisees to have a head-start in their business development.
Franchising Terms of Business are completed. We started the process for defining the relations flow between #REDFranchisees, their clients and RED Platform/Staff. A dedicated person is already assigned for this subject and is already introduced to Franchisees Group. Tools for helping this important part of the ecosystem to grow are on development, from Tutorials to Market approach and segmentation in searching for proper clients.
More Marketing related initiatives are generated:
- The strategies for the Discord group are developed, including announcements schedule, topics, incentives, interactivity rules and RED live sessions with partners and/or RED staff, etc.
- Market segmentation is already started for identifying the right channels to attract customers on both sides, GTK claimers and Carbon Offsetting clients
- Dedicated marketing strategies are developed for different countries and types of clients.
The rest of the subjects remain unchanged from the last status. As soon as we are completing the previous subjects, the rest will get in line to be developed and contribute to the growth of our Project.
The status for Q1 after the first 2 and a half months of 2022
The next update will be on Monday, 28th of March.
For any questions, please fill out the form with suggestions here.
We will also answer twice a month or weekly if there are many things to discuss.
RED App: https://www.app.redplatform.com
You can see the previous update here: