Swachhcoin, found online at Swachhcoin.com, aims to create a decentralized waste management ecosystem. Find out how it works today in our review.
What Is Swachhcoin?
Swachhcoin wants to revolutionize the waste management industry using blockchain technology, IoT, adaptive intelligence, big data, and other advanced technologies.
The goal is to maximize the creation of value from global household waste. Obviously, waste is becoming an increasingly important issue in our modern world. We’re generating too much waste, and all of that waste either needs to be repurposed or safely stored. Swachhcoin aims to address this issue while increasing profitability and efficiency in the waste management industry.
The ICO for Swachhcoin Tokens is expected to get underway in Q2 2018. The company’s private sale for tokens began in April 2018.
What Problems Does Swachhcoin Seek To Solve?
Here’s how Swachhcoin explains the issues they’re trying to solve:
“Throughout the world, mankind is facing a massive problem of too much waste and scarcity of resources. The amount of waste being produced has kept on increasing over the years and the trend is expected to continue aggressively. According to some estimates, annual global waste generation is expected to reach approximately 2.5 Billion Tonnes well before the year 2030.”
The amount of waste isn’t exactly the issue: the issue is that we’re not very good at converting waste into usable materials:
“The amount of waste that being recycled or processed to make useful products out of it has completely failed to catch up with the waste generation levels,” explains the official Swachhcoin whitepaper.
How Swachhcoin Blockchain Waste Management System Works
Obviously, solving the global waste management industry’s core problems is not an easy endeavor. How does Swachhcoin plan to solve these issues?
Swachhcoin understands that many people will not repurpose waste simply out of the kindness of their hearts; instead, people need a financial incentive to do so. With that in mind, Swachhcoin seeks to incentivize people monetarily in order to properly dispose of their waste.
With that goal in mind, Swachhcoin will create a global ecosystem that uses big data, blockchain technology, adaptive intelligence, internet of things (IoT) and other technologies to optimize the waste management industry. This ecosystem will revolve around the use of Swachh Tokens.
Some of the core functions of the Swachhcoin platform include:
- Users will receive monetary incentives in exchange for properly managing their waste (under the traditional model, users have to pay for waste to be responsibly collected from their homes)
- Processing waste will lead to at least 20 different outputs
- Swachhcoin will use four advanced technologies, including AI, big data, IoT, and blockchain
- The platform will integrate autonomous philanthropic work
The Swachhcoin whitepaper and website don’t do a great job of explaining the technical specifications of the platform or how it works. The company repeatedly mentions its plans to integrate blockchain technology, IoT data, and big data AI processing into its platform, for example, but there are few specific details on how they plan to do that. Here’s how the company explains its use of blockchain technology, for example:
“Blockchain: The entire Swachhcoin will be based on blockchain technology and fulled [sic] by Swachh Token.”
Poor grammar and spelling aside, we don’t know what the Swachhcoin blockchain does or how it will work. The lack of details seems unusual for a project preparing for its ICO. Typically, we like to see some type of finished product in place before a company asks investors for money.
Swachhcoin’s website mentions all of the following features:
Swachhcoin Big Data:
Swachhcoin Big Data, or SWATA, is described as “the customized application of big data, designed and modified for waste processing industry.”
The platform’s decentralized app, or SWAPP, is the user interface that includes a wallet and information about the nearest SWBIN location, giving users an easy and convenient disposal experience.
SWBINs are customized waste collection bins designed by Swachhcoin. These bins will have “various features that enable highly effective waste disposal,” explains the official whitepaper.
The Swachhcoin Internet of Things network is a customized IoT application designed to use IoT sensors to optimize the waste management industry.
Swachh Adaptive Intelligence:
SWATEL is “the customized application of adaptive intelligence designed and mofieid for waste processing industry,” explains the whitepaper.
The platform will be based on blockchain technology.
As you can see, all of these features are vaguely defined. The information above comes straight from the whitepaper. There are few technical details about how the platform seeks to use these technologies.
Swachhcoin SCX Token ICO Details
There’s a total supply of 400 million Swachh Tokens. These tokens are being sold through a pre-sale and an ICO. The ICO has a total soft cap of $5 million USD and a hard cap of $18 million. Of the total supply, 69% or 276,000,000 Swachh Tokens are available for the pre-sale and ICO.
During the pre-sale, tokens are priced at $0.04 USD apiece, while the price rises to $0.075 USD apiece during the main ICO.
The remaining 31% of tokens are allocated to the team (9%), a vault (8%), advisors and partners (7%), bounties (4%), and a philanthropy fund (3%).
A private sale began in April 2018. Dates have not yet been announced for the main token sale.
Who’s Behind Swachhcoin?
Swachhcoin is led by founder and CEO Aditya Kumar along with co-founder and COO Prashant Chaturvedi. Aditya is a Kolkata, India-based entrepreneur with a background in earth sciences and environmental services. He created Swachhcoin in 2016.
Other listed members of the team include Aditya Vikram Singh (Chief Financial Officer), Siddela Sarat Kumar (Chief R&D Officer), Naman Jain (Chief Marketing Officer), Kuruva Saiteja (Chief Relations Officer), Deep Ranjan Gupta (Chief Technical Officer), and Hemant Verma (Chief Strategy Officer).
Swachhcoin makes big promises about its waste management effectiveness. The company aims to use blockchain technology, IoT sensor data, and big data processing to make the waste management industry more modern and efficient. Beyond this basic information, however, we have limited concrete details about how the platform plans to accomplish its goals.
Despite the lack of details, the Swachhcoin ICO is preparing to get underway before the end of Q2 2018. As of April 2018, the company is undergoing a private token sale.
To learn more about Swachhcoin and how it works, visit online today at Swachhcoin.com.