Part 1 - Proposal Submission (*Mandatory)
Name of Project: Taurus Network
Proposal in one sentence:
Leveraging Blockchain and big data to tokenize biodiversity, forestry and carbon credits while incentivising contributors through decentralised rewards and enhancing ecological resilience.
Description of the project and what problem is it solving:
Climate crisis is the most existential threat that humanity faces today. This has led to consumer choices being generally skewed towards sustainability and carbon neutrality, and governments inciting the route to eco-friendliness. However, the big task is not only offsetting and reducing emissions but actually understanding where they come from in the first place. With Taurus, we are creating a platform that understands this narrative and is using technologies to solve the issues around sustainability by encouraging everyone to contribute towards the green environment and get rewarded the more their actions decrease the concentrations of greenhouse gases.
Problems
- Difficulty of measuring different emissions and pulling them into one comparable dataset.
- However, verifying that carbon offsets projects are doing their job of removing carbon from the atmosphere is challenging; so is verifying the degrees of the efficacy of different projects.
- Compounding the issues, the credibility and trust in carbon credits schemes are still low due to issues surrounding double counting (where multiple parties can claim offsets for the same emissions captured by one project, where there’s often no checks in place).
- Fraudulent transactions and logging characterise the space of eco diversity and accountability.
- Lack of robust framework and standard measurement, allowing carbon offsetting projects to inflate their carbon emissions reduction efforts. https://www.propublica.org/article/a-nonprofit-promised-to-preserve-wildlife-then-it-made-millions-claiming-it-could-cut-down-trees
Solution
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Climate accountability: bringing awareness and data-driven insights to consumers, corporates and governments about the current state of carbon emissions and potentially suggest ways to reduce and offset them.
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Collection of typically siloed information, standardise data and encourage businesses to start viewing carbon emissions as a priority by tokenizing and monetising the value chain.
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With digital carbon offsetting/tokenization, we are able to digest different forms of internal datasets and match them automatically with existing regulations for different geographies.
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The carbon token (data tokens) will represent tradable instruments that represent ownership of one metric tonne of waste or emissions. We will also offer companies/owners a carbon credit allowance token, and if they use less of them, they can sell the remaining or accumulate to increase the company’s allowance. https://wires.onlinelibrary.wiley.com/doi/abs/10.1002/wcc.208
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Tokenizing the world’s forests would unlock a potentially compelling new revenue stream. It could help to incentivise state governments to not only use forest land for commercial use and gradually transition to a more sustainable “green growth” financing model which could be used to fund economic growth & finance different eco-endeavours, Protect biodiversity and forest dwelling indigenous communities through ceasing deforestation and investing in the forests to encourage wildlife populations to thrive and reverse climate change through forest preservation and reforestation campaigns.
Grant Deliverables: (Provide us with a check-boxed list of deliverables for the funding provided)
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Grant Deliverable 1
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Website launching and white listing begins
Grant Deliverable 2
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Functional prototype (Web app)
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Grant Deliverable 3
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Backend development begins.
Which category best describes your project? Pick one.
Build / improve applications or integration to Ocean
Which Fundamental Metric best describes your project? Pick one.
Data Consume Volume
What is the final product?:
We are building primarily a web based app with dedicated enterprise APIs to tokenize nature for its ecological value - nature/forest sequestration, storage, and biodiversity. With Blockchain technology, we are able to create digital versions of the environs including trees as well as create tradable unique data tokens representing emission levels.
The product will function primarily in three (3) different ways:
- Onboarding real natural assets: here, we will onboard local landowners as well as big owners who have under their watch forests, wetlands and other natural resources. The owners will be able to add their land to the platform.
- Creating a digital version of land/conservations: We will use blockchain technology, data, big data analysis, and machine learning to create digital representation of how nature and land added to our platform take carbon and hold biodiversity.
- Issuing carbon tokens: We generate carbon tokens when the owners add a tree and onboard the asset. This will represent the amount of CO2 captured in biodiversity nature. These tokens are issued to landowners who can easily sell them on the transparent and secure Ocean market. The impact of this, is that it will allow and encourage afforestation and hence reduce global warming as they wont be a need to or incentive to cut down trees for gains but rather a reward for planting more reducing emissions.
How does this project drive value to the “fundamental metric” (listed above) and the overall Ocean ecosystem?
Global carbon offsets market could be worth $200 billion by 2050 according to Berenberg. We therefore believe that the global carbon offset market will likely continue growing at its rapid current rate over the next five years.
The Amazon alone represents over half of the planet’s remaining rainforests and comprises the largest and most biodiverse tract of tropical rainforest in the world, with an estimated 390 billion individual trees divided into 16,000 species.
Primary Metric: “$ Data Token Consuming Volume”.
Secondary Metric: Market WAU (Weekly market participants in Ocean Market constituting forestry and eco asset owners)
Globally, there are estimated to be 3.04 trillion trees. We also estimate a 5% onboarding of forest trees, which will be around 152,000,000,000 trees on the platform with an average reward price 0.001 OCEANS which is 152,000,000 OCEANS total volume. These numbers will even increase as we begin our marketing as highlighted in the roadmap.
Illustration:
- Ocean Community gets 0.2% of Consume Volume. 0.2% *152,000,000 = approx 304K OCEAN
- So bang = 304K OCEAN.
- Grant size = buck = 19.8K OCEAN
- So ROI = bang / buck = 304K OCEAN / 19.8K OCEAN = 15.35
- Proposer’s estimate of % chance of success = 45%
- Final: expected ROI = 0.45 * 15.35 = 6.9
Funding Requested:
$19,850
Proposal Wallet Address
0xAFd61F5FEB9695739CDb5C180C81A5F044F55819
Have you previously received an OceanDAO Grant (Y/N)? No
Team Website (if applicable): @taurus_chain
Twitter Handle (if applicable): @taurus_chain
Project lead Contact Email: taurus.network2021@gmail.com
Country of Residence: Ireland
Part 2 - Team
Core Team
For each team member, give their name, role and background such as the following.
Lauren De Loughry
Role: developer, UX/UI designer
- Relevant Credentials (e.g.):
- LinkedIn: https://www.linkedin.com/in/lauren-de-loughry-9785571b4/
- Background/Experience: Over 5 years experience with international organizations such as the Red Cross, Environmental Defense Fund, and Global Empowerment focusing on disaster and climate risk management, environmental management and resilience building. International Disaster Management Graduate from University of Manchester.
Part 3 - Proposal Details (*Recommended)
Project Deliverables - Category:
- IF: Unleash data , then:
- Data will be made available on Ocean Market
If the project includes software:
- Are there any mockups or designs to date?
- An overview of the technology stack?
- AI Model using NODEJS, PYTHON & DJANGO.
- Frontend using ReactJS Stack
- Ethereum as public blockchain network
- Javascript Library of OCEAN PROTOCOL
- Code Version Control - GITHUB
- CODE EDITOR - Visual Studio Code
Project Deliverables - Roadmap
Any prior work completed thus far?
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Idea conception and development
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Assemble team
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Mock-up designs (Web)
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What is the project roadmap? That is: what are key milestones, and the target date for each milestone.
Phase 0 - Anomalistic
Goals:
- Idea conception and development
- Assemble team
- Mock-up designs (Web)
Timeline: Done
Phase 1 - Red Giant
Goals:
- Website launching and white listing begins
- Backend development begins
- Functional prototype (Web app)
Timeline: 2021 Q4 to Q1 2022
Phase 2 - Draconic
Goals:
- Beta Launch Version
- Establish collaboration frameworks for partners
- Storage and retrieval market integrations
- Functional prototype (API)
Timeline: 2022 Q1 to 2022 Q2
Phase 3 - Sidereal
Goal:
- Pilot launch with enterprise collaboration
- Integration the platform to Ocean.
- Mobile app development begins
- prototype of Android mobile app.
- White paper creation
Timeline: 2022 Q2 to Q3 2022
Phase 4 - Synodic
Goal:
- Funding campaigns
- Refinement of the UI/UX
- Marketing campaign begins
- Machine learning integration
- Announcing Taurus online-hackathon in partnership with well-known blockchain media
Timeline: 2022 Q3 - Q4 2022
Phase 5 - Tropical
Goal:
- Product launch: the mobile app (wallet) + create, host and sell features fully operational .
- Market capture and expansion of the business model
- Enhance collaboration programmes and frameworks
- Marketplace fully live
- Earth gallery is live
Timeline: 2023 Q5
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Please include the team’s future plans and intentions.
- Foreseen or possible additions?
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Stake carbon tokens to the VAULT and earn passive rewards from built-in inflationary and deflationary control mechanisms.
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Build a Proof-of-Energy Transaction (PET) protocol and validation APIs for asset optimisation, Peer-to-Peer (P2P) energy trading, secured Decentralised Applications (DApps) and Marketplace.
