Blockchain Technology has become pivotal in revolutionizing data storage and sharing in nearly all sectors. Whether in healthcare, agriculture or any other field, it requires data exchange. With the world focus on renewable energy as the primary source and reducing the carbon footprint, Blockchain can play an increasingly significant role in making this come true. Today, there is a use case for every possible scenario in the crypto world. There are several new crypto mining projects focusing on renewable energy. However, only a few projects have a core focus on renewable and clean energy usage. Phaeton, an Australian independent blockchain project, is one of them.
Phaeton Blockchain project built a Blockchain from scratch to have complete freedom over the functionalities and services. The native Blockchain boasts of a decentralized ledger system with a block size of 250kb (potentially one million transactions) and a creation time of five seconds. Phaeton uses the Delegated Proof of Stake with Delegated Byzantine Fault Tolerance (DPoS+dBFT) consensus process, which improves energy efficiency. Phaeton is a self-contained blockchain that offers a platform for businesses to use, whether for monetary, transactional, data, or smart contract purposes. Individuals’ capacity to host a node is essential to the Blockchain’s speed, scalability, and security.
The project’s core focus is building a decentralized modern society powered by renewable energy sources such as hydrogen, wind and solar energy. The project also offers a perfect investment opportunity with tangible real-world assets to back their business. Investors don’t have to rely on the tall promises of project developers. Instead, they can see the progress of several real-estate and data center projects built by Phaeton’s project team. Thus, a holder of the native PHAE coin would own a portion of Phaeton’s growing ecosystem.
Phaeton Invests in Socially Progressive Projects to a Real-World Change
Phaeton is unlike any other blockchain project in the market. Its primary focus is on social development rather than just selling a cryptocurrency. The public has come across many crypto projects that heavily promote their token and call it the next Bitcoin or better than Bitcoin. However, for Phaeton, their PHAE coin promotion is not their primary focus. The company is aware that the development of its real-world project is more exciting and worth sharing with the world rather than just trading another coin in the market.
Phaeton believes the value of their token would eventually surge in the future as the company progresses with more breakthrough developments with a sustainable business model. At present, Phaeton is working on three main projects, namely:
Phaeton Energy: Phaeton Energy aims to help Western Power stabilize its electrical grid by building renewable energy and battery solutions across remote Western Australia. The primary goal of Phaeton Energy’s investment in these energy plants is to fulfil the company’s market mandate. That is, Phaeton will put money into establishing long-term businesses. These projects include, but are not limited to, using renewable energy sources such as solar. The energy produced is to power their data centres and offer concrete advantages to the communities where these plants are located.
Phaeton Real Estate: Phaeton believes that real estate may provide significant value to its shareholders and token holders. As a business silo led by Ron Forlee, the CEO of Phaeton, Phaeton has an advantage over other blockchain platforms. Ron has worked as an architect, developer, author, and educator for almost 40 years. Ron believes that blockchain technology can enhance and solve many real estate-related difficulties. He has a thorough understanding of the development process, including financing and investing. Funding, liquidity, and, most significantly, home affordability are the difficulties facing real estate today.
Phaeton Defi: In keeping with their ESG objective, Phaeton has created unique DeFi models. Carbon Credit Exchanges and ESG Bond Exchanges are two of these schemes. Each of these exchanges enables Phaeton to advertise and fund the internal projects while also providing opportunities for third parties to establish their projects. In addition to these exchanges, Phaeton will operate several staking nodes, which will provide passive income as they expand the datacenter network. Phaeton’s business goals in these models are to produce cash flow via transaction fees and passive income.
The purpose of Phaeton is to shift the paradigm and demonstrate how Blockchain Technology is used in real-life scenarios rather than just for cryptocurrency. Phaeton’s objective is to combine Blockchain with other emerging technologies, including FinTech, PropTech, and AgriTech. Phaeton Network Offgrid Modular Data Centres, Phaeton Smarter Housing, and Phaeton Urban Agriculture were all built with this purpose in mind. To assist Phaeton’s real-world applications, the company has developed Phaeton Personal Identity, Phaeton Helios Deployer, and Phaeton Artemis Node.