RealFi on Cardano (Dapp): Democratizing Carbon Credits with programable certifications (CIP68) & Smart Contracts

[GENERAL] Name and surname of main applicant

Erick Romero

[GENERAL] Email address of main applicant

erick.romero@intitech.com.br, erick.romero@eddablock.com

Additional applicants

Tainá Bugs, taina.bugs@intitech.com.br

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.” .

No dependencies

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

Yes, Project will be fully open source in the future.

[METADATA] Category of Proposal

RealFi

[METADATA] SDG rating

SDG goals:

7.Ensure access to affordable, reliable, sustainable and modern energy for al

8.Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.

13.Take urgent action to combat climate change and its impact

SDG subgoals:

13.3 Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning.

7.2. By 2030, increase substantially the share of renewable energy in the global energy mix.

8.2 Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labor-intensive sectors.

Key Performance Indicator (KPI):

7.2.1 Renewable energy share in the total final energy consumption

[IMPACT] Please describe your proposed solution.

The traditional carbon credit system, while valuable, is hampered by bureaucratic inefficiencies and barriers, making it less effective and inclusive. The complex administrative procedures, extensive documentation, and rigorous assessments are particularly prohibitive for smaller entities or those in less developed regions. The system's extended timelines, from project development to credit issuance, further complicates matters for entities wishing to offset emissions promptly. The system's centralized private registry also raises transparency and security concerns, and the reliance on third-party auditors adds to costs and security risks. The ongoing costs of owning and maintaining carbon credits add further financial strain.

Our solution, using Cardano's blockchain technology, provides a more efficient, cost-effective, and inclusive system. We employ programmable NFTs and smart contracts to alleviate bureaucracy and cost issues, repositioning auditors as validators and using already-audited data from energy providers. This doesn't just improve the system—it democratizes access to carbon credits. Our solution is beneficial to everyone involved in carbon offsetting initiatives, reinforcing Cardano's reputation as a blockchain technology leader.

Success Metrics:

• Significant reduction in the time taken to issue carbon credits.
• Decrease in the costs associated with carbon credit issuance and management.
• Increase in the number of smaller entities participating in carbon offsetting initiatives.
• Enhanced transparency in carbon credit transactions.
• Increase in the number of certificates minted, traded, updated, and burned on our platform. Meaning, number of certificates tokenized and number of transactions.

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Our project aligns with the "Products & Integrations" category of this campaign brief, addressing the critical issue of “Climate Change”. We're innovating the traditional carbon credit system with a platform built on Cardano's blockchain technology, enhancing efficiency and accessibility. Our Minimum Viable Product (MVP) developed using Cardano libraries such as Aiken and Lucid, Cardano Infrastructure such as Blockfrost, NMKR and Wallets, and Web development frameworks such as Deno & Fresh, promises substantial value to the Cardano community.

Our focus is on deep integration with Cardano's existing tools, fostering synergy, improving user experience, and reducing costs and time for carbon credit issuance. With Cardano's infrastructure maturity, scalability, and security, the time is perfect for our product's launch.

Our project spotlights Cardano's scalability and adaptability in tackling real-world challenges, aiming not just to resolve the carbon credit issue but also to drive community growth and global change.

[IMPACT] How do you intend to measure the success of your project?

Our project's success will be measured using quantitative and qualitative metrics tied to the benefits our platform provides to the Cardano ecosystem.

Quantitative metrics include time and cost reduction in carbon credit issuance, an increase in participation from smaller entities, and activity metrics related to certificate management on our platform. We'll compare these with traditional systems to illustrate our solution's efficiency and financial benefits.

Qualitative metrics involve evaluating user experience through surveys and interviews, gauging improvements in transparency, and assessing our project's impact on the Cardano ecosystem via community engagement sessions.

These metrics are feasible given our project's scope and Cardano's capabilities. In the short term, we anticipate efficiency improvements and increased participation in carbon offsetting. Over the long term, our success could drive Cardano's growth by showcasing its suitability for real-world applications, attracting more users and developers, and positioning Cardano as a leader in sustainable blockchain solutions.

[IMPACT] Please describe your plans to share the outputs and results of your project?

Our project is designed for sustainability and growth. We aim to establish a solid foundation in the first six months using the requested funding, transitioning to self-sustainability thereafter. We have a comprehensive dissemination plan for sharing our progress and results.

We will provide regular updates to the Cardano community, including progress reports and significant milestones. Once operational, we'll share success stories and case studies through blog posts, white papers, or webinars.

We intend to collaborate with organizations within and beyond the Cardano ecosystem for sustainable growth, involving integrations with other platforms and joint marketing initiatives. After proving the platform's sustainability, we plan to expand geographically and engage venture capitalists for additional funding and platform development.

Our project's outputs and learnings will guide future R&D activities, providing invaluable insights into the community's interaction with our platform. Ultimately, we aim to maintain a strong feedback loop with the community and stakeholders to ensure our project's continuous success and growth.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

Our robust core team of five professionals each brings unique expertise, forming the project's foundation and ensuring high trust and accountability in execution and fund management.

Leading the team, Erick Romero brings over a decade of tech experience and academic credentials in engineering, renewable energy, MBA, and project management. Erick's knowledge is further augmented by his completion of the Plutus Pioneer Program (PPP) and other blockchain-centric courses.

Taina Bugs, with her dual bachelor's degrees in civil and metallurgical engineering, along with her experience in marketing, web design, and finance, provides multifaceted insights into project management and development. Taina's unique blend of skills ensures our platform's efficient and sustainable development.

As our research advisor, Ivan Romero, a Ph.D. candidate in renewable energy at the University of Ulm in Germany, contributes valuable R&D knowledge and a wide network of contacts.

Rafael Carletti: As the head of our commercial wing, Rafael has a diverse background in environmental management and distributed energy. With more than 30 years of experience and a wide network of significant contacts, he enables us to efficiently navigate through the intricate landscape of carbon credits and environmental regulations. His expertise in commercial strategy and environmental governance plays a crucial role in our project's success.

Halisson Tedesco, an electrical engineer, oversees all communications with energy distribution companies and procedures. With a track record in electrical projects for solar plants and substantial auditing skills, Halisson ensures our project meets high transparency and efficiency standards.

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

Significant Reduction in the Time Taken to Issue Carbon Credits: We will quantify this by keeping track of the timestamps from the initiation of the carbon credit issuance process to its completion. The KPI here would be the 'Average Time Taken for Issuance.' We aim to decrease this average time considerably in comparison to traditional methods. The measurement will be done for each certificate issued, and a monthly average will be calculated and compared to our benchmark.

Decrease in the Costs Associated with Carbon Credit Issuance and Management: We plan to measure this by comparing the cost per credit issued on our platform against traditional systems. The KPI would be 'Cost per Credit Issued.' Through process optimization and the inherent efficiencies of blockchain, we aim to reduce this cost by at least 50%. We will periodically evaluate the associated costs to ensure that they are within our target range.

Increase in the Number of Smaller Entities Participating in Carbon Offsetting Initiatives: We will keep track of the number of smaller entities registered on our platform. Our KPI for this goal will be the 'Number of Small Entities Registered.' Our initial target is to have a considerable month-over-month increase in the number of such entities on our platform. We will measure this through our platform's user database.

Enhanced Transparency in Carbon Credit Transactions: The transparency of our platform can be quantitatively measured by utilizing on-chain data from Cardano blockchain explorers. Our KPI for this goal will be 'Audit Compliance Score,' and we are aiming for a 100% compliance rate with audit requirements. Compliance audits will be conducted using on-chain data, ensuring that all transactions are transparent, traceable, and immutable.

Increase in the Number of Certificates Minted, Traded, Updated, and Burned: Utilizing the power of Cardano's metadata and blockchain explorers, we can efficiently track these activities on-chain. The KPIs would be 'Number of Certificates Minted,' 'Number of Transactions,' and 'Number of Certificates Updated or Burned.' The measurement for these KPIs will be entirely based on the on-chain data provided by Cardano's tools, ensuring an accurate, transparent, and automated measurement process.

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1: Market Analysis and Platform Refinement (Month 1) (ADA 13,300)

• Conduct comprehensive market analysis using various data analytics tools to pinpoint our target audience.
• Iterate and fine-tune the MVP based on user feedback and data collected from testnet operations. This process includes code optimization, debugging, and enhancing performance based on real-world data.

Milestone 2: Mainnet Launch and User Onboarding (Month 2) (ADA 20,000)

• Perform necessary security checks, and other pre-launch preparations to ensure a successful and secure platform launch on the mainnet.
• Initiate a detailed user onboarding program. This will include educational materials and resources on blockchain and environmental procedures, as well as step-by-step guides to use our platform.

Milestone 3: User Acquisition and Training (Month 3) (ADA 20,000)

• Roll out the user acquisition campaign, utilizing strategic marketing techniques and channels identified during our market analysis.
• Begin comprehensive user training programs. These will include webinars, video tutorials, FAQs, and other learning resources to help users understand and efficiently use our platform.

Milestone 4: Outreach, Marketing, and Partnerships (Month 4) (ADA 20,000)

• Implement targeted marketing initiatives, leveraging digital marketing, content marketing, and social media platforms to expand the user base.
• Initiate discussions for potential partnerships with environmental organizations, renewable energy companies, and carbon offset programs. This will open avenues for collaborations that can bolster our platform's impact and reach.

Milestone 5: UI/UX Optimization (Month 5) (ADA 13,400)

• Collect and analyze user feedback and usage data to identify areas of the platform requiring enhancements.
• Revamp the platform's UI/UX based on collected feedback and data, focusing on user satisfaction, ease of navigation, and overall user experience.

Milestone 6: Review and Future Planning (Month 6) (ADA 13,300)

• Perform a thorough review of the project, evaluating its success against the predefined objectives and KPIs.
• Develop a detailed roadmap for future platform improvements, feature enhancements, and expansions based on evaluation outcomes and user feedback.

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Milestone 1: Market Analysis & Platform Refinement (Month 1)

Outcomes: Enhanced understanding of our user base; an optimized MVP ready for mainnet.

Measurements: Quality of MVP improvements and insights from market analysis.

Milestone 2: Mainnet Launch & User Onboarding (Month 2)

Outcomes: Stable platform operation on the mainnet; successful user onboarding.

Measurements: User count and platform stability.

Milestone 3: User Acquisition & Training (Months 3)

Outcomes: Well-equipped users; growth in user numbers.

Measurements: User growth rate and engagement with training materials.

Milestone 4: Outreach & Marketing (Months 4)

Outcomes: Enhanced platform visibility; expanded user base.

Measurements: Marketing reach, user growth rate, and progress in partnership discussions.

Milestone 5: UI/UX Optimization (Months 5)

Outcomes: Improved user experience and platform usability.

Measurements: User satisfaction levels and usability metrics.

Milestone 6: Review & Future Planning (Month 6)

Outcomes: Validation of project success; clear plans for future developments.

Measurements: Achievement of project objectives and KPIs; potential impact of future plans.

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

Milestone 1: Market Analysis and Platform Refinement (Month 1) (ADA 13,300)

Marketing Team -> ADA 3,000

Project Management Team -> ADA 3,000

Platform Development Team -> ADA 4,000

API - Servers Infrastructure (Deno Deploy, BlockFrost, Web Platform) -> ADA 1,300

Digital Marketing -> ADA 2,000

Milestone 2: Mainnet Launch and User Onboarding (Month 2) (ADA 20,000)

Marketing Team -> ADA 3,000

Project Management Team -> ADA 3,000

Platform Development Team -> ADA 4,000

API - Servers Infrastructure -> ADA 1,300

Digital Marketing -> ADA 2,000

Travel Expenses -> ADA 6,400

Milestone 3: User Acquisition and Training (Month 3) (ADA 20,000)

Marketing Team -> ADA 3,000

Project Management Team -> ADA 3,000

Platform Development Team -> ADA 4,000

API - Servers Infrastructure -> ADA 1,300

Digital Marketing -> ADA 2,000

Travel Expenses -> ADA 6,400

Milestone 4: Outreach, Marketing, and Partnerships (Month 4) (ADA 20,000)

Marketing Team -> ADA 3,000

Project Management Team -> ADA 3,000

Platform Development Team -> ADA 4,000

API - Servers Infrastructure -> ADA 1,300

Digital Marketing -> ADA 2,000

Travel Expenses -> ADA 6,400

Milestone 5: UI/UX Optimization (Month 5) (ADA 13,400)

Marketing Team -> ADA 3,000

Project Management Team -> ADA 3,000

Platform Development Team -> ADA 4,000

API - Servers Infrastructure -> ADA 1,300

Digital Marketing -> ADA 2,000

Milestone 6: Review and Future Planning (Month 6) (ADA 13,300)

Marketing Team -> ADA 3,000

Project Management Team -> ADA 3,000

Platform Development Team -> ADA 4,000

API - Servers Infrastructure -> ADA 1,300

Digital Marketing -> ADA 2,000

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

Our project stands to add tremendous value to the Cardano ecosystem by accelerating the onboarding of users, particularly those who might not be familiar with blockchain technology. Initially, we're focusing on the rapidly expanding solar energy market in Brazil, but our platform is designed to be scalable and globally applicable.

In Brazil, as of 2022, there were 2.1 million Consumption Units receiving energy credits from the energy distribution companies due to their solar power production. This number represents a massive, largely untapped market segment that saw an 84.9% increase in installed PV systems compared to 2021.

To put this in perspective, the current Cardano user base stands at around 3.5 million. The potential solar energy user base in Brazil, who are currently receiving energy credits for their solar production, is equivalent to almost 60% of Cardano's existing user base. By targeting this segment through our platform, we aim to introduce a significant number of new users to the Cardano ecosystem.

Each individual or entity that joins our platform to take advantage of tokenized carbon credits effectively becomes a new user for the Cardano blockchain. When the total cost of our project is considered against this potential for user growth, the value proposition is clear.

But our ambition extends beyond Brazil. The scalability of our platform allows us to replicate our model in other countries, potentially increasing the value proposition for the Cardano ecosystem manifold. The cost of our project is a strategic investment to facilitate a significant increase in Cardano's user base, increase the volume of blockchain transactions, and boost Cardano's overall visibility and adoption. We align seamlessly with Cardano's mission of democratizing finance and fostering a more sustainable and equitable global economy.

In summary, the cost of our project is not just an expense—it's a strategic resource allocation aimed at stimulating exponential growth within the Cardano ecosystem and demonstrating the role of blockchain technology in addressing real-world environmental and sustainability challenges. Thus, the cost of our project represents exceptional value for money for the Cardano ecosystem, both in Brazil and globally.

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept