Crypto currency, which is based on block chain technology, must be accompanied by the involvement of many people. If anyone can participate, if anyone can easily get it, and if it has a moral and positive incentive, this would be enough to allay all the social controversies surrounding the existing crypto currency, and it would be the crypto currency the world is paying attention to.
This crypto currency was recently created by a local technology in Asia. It is called the ‘EDEL Coin’, which was developed by the Hong Kong-based company, DATA M, Ltd. The EDEL Coin is a crypto currency extracted from the PCR (Proof of Carbon Reduction) system, which could have the effect of saving energy and reducing carbon emissions as the competition increases to achieve this.
The former crypto currency consumes a lot of energy during the mining process. It is EDEL Coin that can dramatically fix these problems. EDEL Coin is made up of the advantages of major crypto currencies and the disadvantages have been rectified. Accordingly, it has a feature that is completely different from the existing block chain networks.
EDEL Coin could be extracted if people used bicycles, electrical vehicles (electric cars and electric motorcycles) instead of cars that used fossil fuels to reduce energy and greenhouse gas emissions. In order for the user to receive compensation for the extraction from the system, it is necessary to demonstrate a reduction in CO2. The PCR method’s demonstration of carbon reduction is a precise numerical representation of the amount of reduction caused by the method used to consume less than the usual use of resources and energy. Accordingly, EDEL Coin compensation payment is made in relation to the calculated amount of carbon reduction. As such, the PCR system was implemented by an environmentally friendly IT convergence technology that helped alleviate environmental issues and save natural resources.
The PCR system is a system that measures the fuel consumption and emissions of greenhouse gases using the ‘Carbon Digger’, a device that measures the amount of carbon savings. After analyzing the operating data collected by the monitoring system, it is used to analyze the actual carbon emission readings taken on the road section and to optimize the yield with the self-learning function, using the artificial intelligence software. It also analyzes the relationship between the driving environment of the vehicle and the vehicle’s GHG emissions, measures the amount of GHG reduction, and compensates with EDEL Coin. EDEL Coin’s transactions, which are produced by compensation, are written into blocks and connected to the block chain.
Big data collected by the drive-operating monitoring system can determine not only the amount of carbon reduction, but also the driver’s driving environment, enabling it to be used in environmental troubleshooting, road, transport and automotive industries.
Over the past 14 years, DATA M has developed key technologies through continuous technology development and implementation of policy tasks while promoting the nation’s automotive big data business. DATA M is also working on a joint project to select one Southeast Asian country and invest 100 million EDEL Coin’s to use it as a traveller’s legal currency. The project will later create an electric motorcycle public transport system equipped with the ‘Carbon Digger’, and a ‘Green Pas Card’, issuing the bank that will charge with EDEL Coin. The cards will also be used as payment tools at stores, restaurants and hotels, as well as transportation fees. The project could spread to Southeast Asian countries, and in May, it will also introduce customized projects in various developed countries to reduce greenhouse gas emissions in the United States and others.
“EDEL Coin aims to enter the top 10 global ranking at crypto currency market in the next two years, starting with the Green Pass Card project,” said James Young-cheol Lee, CEO of DATA M. “In four to five years, we will see many geographical changes in the rankings of global companies created by the fourth industrial revolution, including us. One of them will be us,” he stated confidently.
“Early this year, the world looked at the size of Korea’s crypto currency transactions and the government’s regulatory policy. However, the world is now paying attention to Korea’s crypto currency technology. Hopefully, the Republic of Korea will be able to raise its status as a global crypto country and take pride in itself. In particular, if the government were to focus not only on regulation, but also on creating an environment in which global exchanges could advance into the country to form a safe and sound market, the Republic of Korea would lead the industry in the center of the world,” he also added.
Esther Lee
K-Herald Korea
(Los Angeles Times Advertising Supplement)
Published in Apr. 11th 2018
