Technology of CO2IN
CO2IN's innovation lies in its combination of several technologies.
Every CO2IN has a real value behind it
Every circulating CO2IN is linked to European Union emission allowances, which are kept in a special account to prevent pledging or speculation. To be exact, 100 CO2INs correspond to one emission allowance and one metric ton of greenhouse gas emissions (CO2 or equivalent). Unlike many other digital currency projects, CO2IN only enters circulation when purchased by the user and is immediately removed from circulation upon being sold back. To ensure that we always have more emission allowances than the number of CO2INs in circulation (at a ratio of 1:100), a complex process runs in the background. We purchase or sell allowances on a stock exchange as needed to maintain a sufficient supply at all times. Outside of the stock exchange's working hours, we may temporarily limit the supply of tokens for sale or repurchase to prevent excess demand. This process ensures that CO2INs are never circulated without a corresponding quantity of allowances in our special account.
Each transaction is recorded in an immutable blockchain database
The CO2IN project operates on a private blockchain database (“private ledger”), using technology provided by Czech company, Tatum, a world leader in its field. The technology guarantees that every transaction is recorded in real-time and can be easily verified. Unlike cryptocurrency transactions, transactions within the CO2IN ecosystem are not publicly visible, ensuring the privacy of our customers.
The price of CO2IN is linked to the value of European emission allowances traded on an exchange. As the value of these allowances fluctuates, so does the price of CO2IN. CO2IN's business model is based on transaction fees from its users. The fee for buying CO2INs is 1%, for selling CO2INs, it is 2%, and in the case of payment in CO2INs, the fee is 0.1%.