Why #iota4earth is a better idea than Ethereum’s CarbonX

by: mistywind

CarbonX announcement is here

#iota4earth Initiative announcement is here

According to the announcement, CarbonX will work using CxT, an ERC20 token which will be built on top of the Ethereum blockchain. Any ERC20 token can be moved only by paying a transaction fee in ETH. So when an individual gets a small reward for performing a carbon friendly action, his only option is to sell it. Because him rewarding another person he finds doing another carbon friendly action is out of question because the transaction fee he will have to pay will much likely be higher than the value of the reward itself.

Thus, the rewarding will be limited to one layer. Whereas if IOTA is used, the person who gets the reward in IOTA from the organization can again reward another person and so on, all free of cost. Because there is no transaction fee involved. Hence the goodwill shared in the form of a micro reward can propagate multiple layers and percolate into depths of the society where a loyalty program may not reach.

Also if the person gets IOTA worth .001 dollar, he can reward ten people with IOTA worth .0001 dollar. Such micro/nano transactions are not not feasible with any of the existing blockchains including Ethereum.

You might ask me what value will a person receive if he gets a reward worth .0001 dollars. The answer is simple.

In the near future, most of the payments in an economy will be automated and some will be repetitive. For each plastic bottle you recycle, your wallet will receive a very small fraction of a dollar. For every unit elecrticity your solar panel produces , you may again receive a very small fraction of a dollar as an incentive for your environment friendly work.

This kind of repetitive micro/nano rewards will accumulate to become significantly big rewards. This is currently possible only with IOTA.

To sum up, IOTA is the only protocol currently available in the distributed ledger technology space which can implemented to reward and thereby incentivise environment friendly actions in the society.

If you wish to be a part of the #iota4earth project which is purely a community owned project, please join the #iota4earth channel on IOTA slack

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