Is this just a standard crypto but there's a fund in place where people can donate to offset carbon emissions?
Hi, thank you for your interest. The coin is the first completely carbon neutral scrypt coin, due to a starting plantation of 2300 native hardwood saplings in Hampshire, UK.
By making it such, we are attempting to handle the objection which it was felt prevented a good few people, who like the idea of disruptive currency but care about the environment, from taking it up in the first place. Through the forestry project first of all, and other projects to follow soon after, we aim to offset the whole footprint of crypto in as cost effective a way as is measurable and guaranteeable, through direct offset projects; not through existing channels which spend most of the money on administration costs.
The fiat cost of our offset is less than half that of conventional offset by weight of CO2. On from there if we have spare Carboncoin left at the end of this process we will be spending it on research to then fund and stimulate permanent natural carbon sinks, and after that just keep on going. The focus is on carbon storage and environmental recovery, attempting to reverse damage done to the environment by humanity, rather than on clean energy technology which is already a vibrant hub of activity, and start up capital.
In terms of technology the coin is only PoW for now because it is felt it is necessary to get take up from the mining community, when that happens we will be looking at a fork to an innovative alternative form of PoS which I have specified, but will need help developing, in around 6 months time, subject to what happens from here.
We are setting up services to monitor the carbon footprint of different cryptocurrencies in as accurate a way as possible, and then giving them a means by which they can quantifiably offset their carbon footprints cost effectively and with cryptocurrencies, at the same time incentivising them to use Carboncoin to do so.
Hope that offers some clarity.
AM