RINcoin solves current problems in the following ways:
Decentralization is adding efficiencies to many markets. RINcoin, RIN NFTs, and the blockchain increase transaction transparency, speed, and cost. No more will it be necessary for buyers and seller of RINs to make lengthy deals off the EMTS and then separately make matching requests on EMTS. Transactions can happen in real time as is the case with many current exchanges. Buyers and sellers across the globe will transact on the new exchange and the price information will be available to all parties at near-real-time speeds.
It makes it possible for the exchange to support more market participants, some of whom may not be as highly capitalized as current larger and less efficient firms. This encourages innovation, wealth creation through entrepreneurial ventures, and removes a deadweight burden from the energy industry.
Note: It is important for the reader to note a key distinction between RINcoin and other crypto currencies related to the offset of carbon and other pollutants as well as ESG. RINcoin is simply the tokenization of a current credit exchange that has been maturing for nearly 2 decades. About 20 Billion RINs were traded in 2021. The original stated goal of the RFS program is trade 36 Billion in 2022. In short, there already exists a robust ecosystem of buyers and sellers who are used to exchanging RINs. RINcoin, RIN NFTs and the blockchain simply will tokenize and decentralize the marketplace. This is different from other ESG-related crypto projects that target the voluntary exchange market which is much smaller in transaction volume, and extremely broad in terms of audience, making it difficult to master the message and systems effectively.
(Think of how challenging of a time Facebook would have had if, instead of focusing their early stage on becoming the go-to social media for college students, they immediately tried to launch to the general public. They would have been lost in the noise of Myspace and their other now deceased counterparts)
(Think also of how challenging it would have been for Amazon to launch as the ecommerce platform for all goods to all people. They needed to first focus on becoming the largest book retailer in the world and then expand their offer from there)
Last updated