Inspiration
The world's least developed countries, have contributed the least to global Climate Change and Economy Inequality. Yet, they suffer the most from its unpredictable consequences, such as difficulty for access to energy. This is why it's important to compensate and assist them with climate adaptation through Digital Finance and Green Technology for Local Development.
The problem
In developing countries, solar technology improves not only the quality of life of families with no access to electricity, but also allows to microbusinesses like farmholders to improve their production and by consequence increase their revenues. Not using renewable energy implies the use of expensive and pollutant fuel.
The access to affordable renewable energy is strongly limited by financial factors, both from international investment and local perspectives.
What it does
We aim to bridge the funding gap between energy transition and developing markets involvement with ethic crowdfinancing, allowing local communities to access affordable renewable energy (UN - Sustainable Development Goal 7).
We canalize funding from international impact donors, in a transparent and verifiable way, into Organizations and energy devices Distributors. Each Organization is registered with their assoiciated energy devices on Blockchain.
Organizations can raise funds with smart contracts, where all energy devices are registered and atributed. Our devices control consists in an energy consumption activation, so when it is activated all impact investors having participated in a campaign receive a compensatory impact backed token, indicating to them how much clean energy have been produced and how much CO2 emmissions have compensated.
How we built it
Based on Blockchain infrastructures (Ethereum and Chainlink) and IoT systems, we connect directly in a verifiable and secure way, impact investors and donors with distributed renewable energy systems. All transactions are handled by Smart Contracts, and impact tokens are attributed automatically.
All tokens are attributed and linked to registered devices with unique IDs, using real data APIs.
Challenges we ran into
The use of Chainlink Oracles and nodes, and iit's interaction with our API in terms of process optimization.
Accomplishments that we're proud of
We are proud of having achieved a working concept for social and environmental impact.
What we learned
We learned about Chainlink integration.
What's next for Gronns
Improving the process, integrate more APIs and optimize the API calls to smart contracts to reduce costs.
Finishing the external adapter and installing a local node.
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