EMJAC-WASTE TO GREEN ENERGY BLOCKCHAIN

Agustus 24, 2019

EMJAC-WASTE TO GREEN ENERGY BLOCKCHAIN

Hello everyone....!!!!
we meet again on this occasion, and next time I will review a little about EMJAC.
for more details, let's be the same, refer to the following article:

BLOCKCHAIN TECHNOLOGY

Emjac's trading platform will be based on Ethereum. This allows us to take advantage of

the blockchain features of Ethereum for decentralized trading. All trades will be recorded

on the public Ethereum blockchain and Smart Contract will be used for implementing

trade contracts.

Ethereum provides a good platform for Emjac due to its wide adoption, active

development support, and growing ecosystem of distributed applications. However,

Emjac will not record non-trade related data on the Ethereum blockchain, due to speed

and cost considerations. These will be recorded on a separate delegated proof of stake

chain. In order to adapt with the execution time of transactions on the Ethereum

blockchain (which takes several seconds at least), buy and sell orders will not be matched

in real time. Instead we will implement a periodic settlement of orders, currently planned

to take place every 5 minutes. Execution of orders and Smart Contract quotation will

therefore follow a similar process to the opening and closing cross mechanism commonly

used by various stock exchanges in the world.

What makes EMJAC unique?

EMJAC uses Digital Ledger Technology (DLT), a distributed ledger made up of

unchangeable, digitally recorded data in packages called blocks. These blocks of data are

stored in a linear chain. Each block in the chain is cryptographically encoded with

information from the block preceding it, ensuring that all data in the chain is immutable

and remains unchanged.

Blockchain technology can essentially replace intermediaries or centralized systems as

the underlying technology provides a mechanism for different parties to transact without

the need for trust. A research conducted by Autonomous estimates that back office costs

such as costs of clearing, settlement of trades, reconciliations, regulatory reporting, etc.,

represent about 30% of the cost of a commodity exchange.

Blockchain technology has the potential to cut those costs by at least 80%. EMJAC's

platform will be based on the Ethereum blockchain and will utilize Smart Contracts to

facilitate the execution of contracts, reducing the need for intermediaries or expensive

back office processes. This will result in a lean and efficient platform that will offer fees

that are significantly lower than current centralized commodities exchanges, making

trading more profitable to all participants on the platform.

TRACEABILITY SOLUTION

With EMJAC, you know where the waste tyres supply originated, the quantity of waste tyres

recycled and the destinations of the products sold. The DLT can provide the opportunity to

change the way individuals, companies and industries operate the waste tyres supply and

demand value chains and improve adherence to government regulations.

In a blockchain-based supply chain management, provenance tracking, record keeping and data

sharing become quite easy because the transactions saved on the blockchain can neither be

altered or deleted. Therefore, it is possible to trace the history of any product from its origination

to where it is delivered through the blockchain supply chain. Traceability is beneficial in detecting

and resolving issues in the supply chain process.

Building Trust

When blockchain is implemented in the supply chains, it becomes easier to build trust. The

immutable nature of the blockchain prevents the supply chain ecosystem from tampering while

the consensus mechanism validates every new transaction.

Cost Reduction

The elimination of intermediaries from the supply chain process reduces the extra costs,

prevents frauds or counterfeits and eliminates the chances of product duplicity. Payments can

also be processed directly between the involved parties with digital tokens rather than

conventional centralized financing systems.

Reducing the Complexities

Smart contracts automatically execute actions like payments, sending alerts, transfer of

ownership, access to information or other actions. Because smart contracts are code-based, new

mutually-agreed contracts can be deployed anytime. This approach not only reduces the contract

complications but also offers flexibility to support new business models.

How EMJAC overcome waste tyres traceability?

Since blockchain allows the tracking all types of transactions in a secure and transparent way, it

offers a lot of possibilities across the entire supply chain. Every time a product changes hands in

the supply chain, the transaction can be recorded on the blockchain to create the history of an

item, from the source of waste tyres, collection yards, shipping, manufacturing and sale of

recycled products.

Implementing waste tyres supply blockchain could reduce collection costs, inaccurate container

weight and illegal shipments. By enabling transparency across the involved parties in the supply

chain blockchain, the blockchain establishes the trust level which has been challenging for the last

many years. Many governments are facing issues when they are not able to trace or determine

the origin or destination of illegal waste tyre dumping.

With EMJAC, you know where the waste tyres supply originated, the quantity of waste tyres

recycled and the destinations of the products sold. The DLT can provide the opportunity to

change the way individuals, companies and industries operate the waste tyres supply and

demand value chains and improve adherence to government regulations.

Supply Chain Traceability Solution

Here's how Emjac DLT solution can bring transformation to

Waste Tyres Management

MARKETPLACE

The Platform

Emjac Marketplace is based on the EMJ (standing for Emjac Token), an ERC20 compliant token.

The token is used for all trading activities on the platform. The activities include but are not

limited to trading, settlement of contracts, and leverage.

The Emjac platform allows the trading of options and futures on commodities. Token

holders can operate on the Emjac platform as traders. Our prototype will allow users to list

Smart Contracts, view contract details, see order books, and place buy and sell orders.

Trading Process

Emjac’s ecosystem consists of Traders (which can be energy suppliers or buyers) and

Smart Contracts. The flow of activities in the ecosystem is described as follows:

Energy Suppliers uses EMJ Tokens to list their product on perform to perform their transactions
Consumers who wish to purchase energy products use EMJ token to purchase, they will also get EMJ tokens back as a reward in return.
Suppliers submit their best energy supply offers in Emjac marketplace.
Consumers select their preferred, cheapest contract option across our Market.
The consumer completes the contract directly with the successful energy supplier using EMJAC Platform. If the verification is successful, the trade is recorded on the public blockchain. To complete the process, Emjac initiates the associated Smart Contract with the parameters of the trade.
When the contract expires, the system reports the price at expiration and closes out the contract by settling any payments with EMJ tokens.
In case of any potential technical glitch, human error, or issue with the settlement, an arbitration procedure ensures a fair and equitable outcome between the stakeholders.

EMJAC Marketplace for Commodities Exchange

Below is a diagram showing a high-level overview of the process flow / infrastructure: