The Good Tech Companies - Inside Fedrok AG: Building a Transparent Carbon Credit Ecosystem

Starting point is 00:00:00 This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Inside FedRock AG. Building a transparent carbon credit ecosystem, by Ashan Pandey. In a candid discussion with Hacker Noon, the leadership team of FedRock AG detailed their journey into establishing a blockchain solution for the carbon credit market. The conversation sheds light on the technical challenges and innovative strategies designed to inject transparency and trust into an industry long plagued by opacity. With a focus on measurable data and sustainable practices, the interview provides insight into how FedRock AG aims to transform environmental finance through decentralized technology.

Starting point is 00:00:40 Ashan Pandey. Hi Dr. Philip Blaisdell and Mr. Waleed Oida, welcome to our, behind the startup, series. Please share your journey and what inspired you to create a blockchain solution for the carbon credit market. We would love to hear about your experience in founding Fedrock AG. Dr. Philip Blaisdell, the original idea had its genesis in a quiet distrust of the opaqueness of the carbon credits market. Once we really begun to dive deeper into this the feeling of uncertainty and unease grew. As an old school engineer, who believes that if something can not be measured it does not exist, I found the market to be overly complex, open to unscrupulous behavior. It seemed to be problem that needed an elegant solution that

Starting point is 00:01:21 could be scalable, transparent, and universal. We lead OIDA. Our aim has always been to create solutions for real-world problems and to find a way to empower as many people as possible. We have seen the impact of small, grassroots projects in areas such as trash for cash and within the circular economy. We wanted to replicate this on a truly massive scale. We looked at many different solutions before settling on developing our own solutions. One of the major challenges we face is bringing trust to a marketplace that is currently perceived by many as opaque, open to significant greenwashing, and, honestly, failing its users. We set out to build our company and technology Toby beyond repute. This led us to domiciling the company in Switzerland where the degree of financial and operational scrutiny drives companies to both operational excellence and

Starting point is 00:02:09 continuous improvement in their daily operations. Ashan Pandey, Fedrock AG introduces an innovative proof-of-green consensus mechanism. Could you explain how this transforms traditional POW mining into an environmentally friendly process, and what impact you've seen so far, Walid Oida. It is still very early days for us and we are only just beginning to see the impact of our consensus mechanism. Combined mining is our answer to the problem. In simple words whenever a bitcoin miner uses environmentally clean, sustainable energy to generate bitcoin they also seamlessly generate Fedrock coins in our blockchain. This additional revenue should incentivize them to move to cleaner energy usage. By doing so not only we make the overall Bitcoin network greener, but also make our own Fedrock blockchain decentralized as Bitcoin is without sacrificing the performance as now our

Starting point is 00:03:00 consensus relies on them. However, the feedback from stakeholders is favorable now and the future is beginning to look ever more exciting. As with any new, disruptive technology, we still face the challenges of changing the status quo and convincing people who are deeply embedded in a way of thinking that FEDROK does not represent the end of something but the beginning of everything. Ashan Pandey, the carbon credit market faces significant challenges with standardization and transparency. How does Fedrock's blockchain technology and TheFDK token address these issues? Dr. Philip Blaisdell, our fascination with the marketplace has certainly shown US The lack of transparency and standardization. The carbon credits marketplace

Starting point is 00:03:42 should bridge the gap between sustainable innovation and financial initiatives. As a team, we firmly believe that the carbon credits market is a mechanism for hope, a way to fund change while measuring progress. The only way to drive thesis to ensure a level playing field where data is without repute. Blockchain has the potential to bring transparency and trust to the carbon credits market, making every transaction verifiable and immutable. Using blockchain for carbon credits is not just about reducing emissions, it's about building trust in a system that rewards sustainable actions. Once this trust is established, the FDK coin, which will ultimately be linked to the price

Starting point is 00:04:21 of a carbon credit, will be available to the 8 billion stakeholders currently alive on Earth who wish to participate in fighting climate change. Ashan Pandey. As a Swiss-registered blockchain company, how does regulatory compliance shape your approach to business? And what advantages does this bring to your stakeholders? Walid Oida. Registering the company in Switzerland was always the plan as we're great admirers of its financial systems and reputation. Our market research told us that the world trusts Switzerland because of its steadfast commitment to financial integrity and legal precision. When the world seeks a benchmark for financial excellence, it looks to Switzerland. For example, being a member of the VQF, Vereen zur Qualität sichering von Finanzdienstleistungen, the Financial Services

Starting point is 00:05:05 Standards Association in Switzerland, has given us a rigorous framework for all financial activities. This has led us to embed the ethos of continuous development, management certificates such as ISO 9001, 14001, and 27001, and zero-trust architecture into our core operational plan. Stakeholders can feel reassured that not only Dow have strict procedures and policies in place, but they are overseen by the Swiss authorities. It also ensures that we have no scope for operational complacency and continually need to improve. As a company, we take pride in our approach to always exceeding the legal requirements in an ever-changing and complex legislative framework. Ashon Pondi, your combined mining mechanism allows miners to participate in both FedRock and other blockchains simultaneously. Could you elaborate on how this

Starting point is 00:05:55 works technically and its benefits for miners, Dr. Philip Blaisdell? As mentioned, when a miner is green, sustainable it also participate in block generating in Fedrock. So instead of having heavy POW consensus Fedrock just relies on Bitcoin's decentralization and the next block generator is picked by the Bitcoin network. We stand on the shoulders of giant sand see further. And once block generator is chosen we keep generating blocks every second making it the quickest blockchain that is still decentralized, at least as much as Bitcoin. On the other hand, Bitcoin miners who became green get their rewards on the Fedrock chain as miners as well. They can delegate their block generating abilities to someone on the Fedrock chain so that they wouldn't need any effort other than becoming green to

Starting point is 00:06:39 receive our carbon credit related coins. Ashan Pandey. Fedrock AG is self-funded and focuses on long-term sustainability. How does this business model influence your development strategies and partnerships? Walid Oida. Self-funding was a conscious decision as we believe that investing our own money in a project shows people how passionate we are about this work. Our aim has not been to create a huge degree of wealth, but instead to touch the lives of billions of people on this planet. Furthermore, being self-funded allowed us to move quicker, focus entirely on our vision, and not have to shift due to investor requirements. From the genesis of the project to launch we have had several major changes of direction

Starting point is 00:07:20 and the freedom to follow the changing legislative landscape and technological needs. We have always had to be rigorous in our approach and planning and have embedded the ethos of plan, do, check, act into the business. This has led to some colorful and robust discussions but equally allowed us to laser down on the core mission of the company, without potentially alienating investors. Similarly, we have been cautious in selecting partners and have been lucky enough to partner with people who see our core mission as a vocation, not a job. As a company owner, building trust and passion in a team constantly under pressure and expected to disrupt embedded technology is a rewarding experience. Ashan Pandey, the FDK coin is directly linked to

Starting point is 00:08:00 carbon credits. Could you explain this relationship and how it helps standardize the global carbon credit market, Dr. Philip Blaisdell? Well each time Bitcoin miner generates Bitcoins they also generate Fedrock coins. As the miners were green they, in all other equals, would reduce carbon output and therefore would be eligible for real-life carbon credits from some institutions. This means the FDKs are a direct representation of those carbon credits. Once the rules are clear, and no one can print carbon credits out of thin air, it's transparent and traceable. It's the best solution to become the golden standard for the globe, don't you think? Ashan Pandey. What role do you see Fedrock playing in the broader fight

Starting point is 00:08:40 against climate change, particularly in engaging governments and enterprises. We have seen the massive impact small, grassroots projects can have when people become engaged locally and how this leads to global change. We hope that we ultimately empower 8 billion people to participate in addressing climate change through our platform, however, Fedrock has a responsibility to skill this to larger enterprises and governments and we hope that this happens sooner rather than later. This will likely come from public pressure on companies and governments to authenticate emissions reductions and avoid greenwashing accusations. As we move towards 2030 there will be a greater industrial need to report ESG credentials in a transparent and honest manner, which will be possible via Fedrock. Ashant Pandey. How does Fedrock's EVM compatibility facilitate the development of sustainability-focused applications, and what types of dApps do you envision being built on your

Starting point is 00:09:34 platform, Dr. Philip Blaisdell? Well yes, it's an EVM therefore nearly every dApp you know can run on it from day one, and they will. However what we aim is to monopolized apps related to net zero. The number of those dApps have steady growth and they usually choose blockchains by different criteria. Fedrock should probably be the most appealing to them, as it's quick, affordable, and sustainable. It also is positioning itself as everything net zero chain. Most importantly, the native coin is already related to carbon credits, so when building ADAP-related Tothos, it's easier to build it around our coins. Ashan Pandey. Looking ahead, what are your plans for expanding Fedrock's influence in both the blockchain and environmental sustainability sectors? Waleed Oida. We are still early on in our journey and the future, though hard to define,

Starting point is 00:10:23 looks exciting. The key to expansion will always be lead by addressing real-world challenges in a way that is both elegant, transparent, and beneficial to as many people as possible. Each day we start by asking ourselves, what can we do better today, how can we improve by 1%? However, our vision is always tempered by the needs of society and industry. We spend a lot of time sitting down with global stakeholders, listening to their needs and worries. In the last week alone, we have had discussions with a waste collective in Asia and a pharmaceutical company in South America to understand their economic, social, and technological needs. We will continue to recruit passionate, driven, and ethical people to the team and hope to inspire other blockchains and startups to follow in our footsteps. In this way, we can continue to help

Starting point is 00:11:11 shape both the blockchain and carbon credits narrative. Don't forget to like and share the story. Tip Vested Interest Disclosure. This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims herein belong to the author. Hashtag D-Y-O-R. Thank you for listening to this Hacker Noon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.

The Good Tech Companies - Inside Fedrok AG: Building a Transparent Carbon Credit Ecosystem

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