GreenCoin is simple to use. It works by incenting the hard work performed by renewable producers. For example, a person who currently owns a PV solar system on their home would is eligible to receive GreenCoins for free.
Renewable asset owners, such as PV solar array owners, do useful work toward mitigating climate change that currently has no additional incentive or reward. More specifically, they create electrical energy at a reduced carbon output when compared to the average amount of carbon released by the global electrical production effort. This creates a carbon offset for which a benefit is constructed.
Report Green Energy
The asset owner reports their production daily to the GreenCoin Foundation. The information is processed to calculate the amount of carbon savings the owner has produced.
The Foundation distributes GreenCoins directly to all of the asset owners reporting for that day in relative proportion to their carbon saving efforts.
Once the owners hold the GreenCoins, they are free to do with them as they wish. The GreenCoin ecosystem allows renewable producers of all sizes to participate and does not require any government agency in order to operate. Participation in the ecosystem is 100% voluntary, and is always completely free. The services of the GreenCoin Foundation are complimentary.
Built on Blockchain Technology
GreenCoin is an incentive crediting mechanism based on open-source blockchain technology. These technologies are an emerging set of secure software protocols that are revolutionizing business and commerce worldwide. This enables an ecosystem that is highly-scalable, inexpensive to operate, secure, and that is open to everyone worldwide with an internet or cellular connection.