Even though it is quite a peculiar name, Swachhcoin is looking at trying to provide a waste management system that is going to be incorporated into the blockchain. Their system is also going to be fully decentralized, but it will be perfectly understandable if you are sitting there wondering what they mean by a waste management system, and how the blockchain can be used in order to improve things.
Well, this is how it will all work.
The Basics of Swachhcoin
https://swachhcoin.com
The best way to look at what Swachhcoin is offering is to view it as follows. They are focusing on the waste management industry as waste is becoming a huge issue around the world as it all has to be stored or repurposed. This can be difficult to manage so what Swachhcoin is hoping to do is to improve the efficiency of the systems that have been created which, in turn, will lead to more profit for the companies involved.
They have also said that far too much waste that could be repurposed is falling through the system, and that this side of waste management has simply not kept up to speed with the way in which the amount of waste has grown. This leads to us having to store more and more of it, and it could be a problem that we are never going to be able to fully resolve.
Well, the team behind Swachhcoin certainly do not see it as something that is impossible to deal with, as they believe that they have a solution that can turn things around.
The Technical Aspect of Swachhcoin
What Swachhcoin has concluded is that a large percentage of people will not repurpose their waste just because they want to feel good about helping the planet. Instead, they need some kind of financial incentive to get them to do it, as we are pretty much all motivated by money. So, that is what they are hoping to do.
To do this, they will use data and the blockchain along with artificial intelligence and IoT to build the ecosystem that is required in order to deal with this issue. However, at this point we do run into a problem. The problem is that they have not exactly gone into too many details as to how they will track waste and how people are then going to get the incentives. Considering this is at the absolute core of what they are doing, you would have thought that they would have explained this in some detail.
All they talk about are special waste bins designed by them, and IoT sensors and to make people more aware of how to deal with waste.
The Advantages of Swachhcoin
If they do manage to improve the efficiency of the waste management system, then you can understand the advantage of having this system in place. Obviously there's clear advantages to managing this platform on the blockchain also.
The Financial Aspect and the ICO
For the ICO, they are going to accept BTC, ETH, LTC, and XPR so there are some options out there. Also, there is the usual soft and hard cap in place with the soft cap being set at $5 million while the hard cap is at $18 million. During this phase, they have also established an exchange rate which has been set at 1 SCX costing $0.075.
In total, they plan on creating 400 million tokens, and 69% of them will be made available during the ICO sale. This equates to some 276 million tokens. There is no mention of a minimum investment figure either which could make a difference for some people.
Overall Conclusion About Swachhcoin and the ICO
The idea that they have is something that is to be admired as they are looking at trying to resolve a huge environmental problem, and are looking at trying to incorporate the latest technology to make a difference. This is something to be admired.
The team behind the project also seems to have a fair bit of experience which is always one of the most important aspects when choosing a new token sale to invest into.
They've also received good ratings from most of the popular ICO rating websites, with most rating it around 4.5/5 which is much higher than most receive.
Website: https://swachhcoin.com