As interest in decentralized systems ramps up and cryptocurrencies inch their way into mainstream financial markets, blockchain technology is increasingly finding its way into innovative new projects. With environmental problems and sustainability two of the defining issues of our time, it’s perhaps only natural that some companies involved in eco-projects are turning to blockchain rather than traditional venture capital avenues to fuel their development.
The Papusha Rocket Technology project, a blend of blockchain, ecology and space technologies announced in Moscow, certainly seems to fit into all of this.
What is Papusha Rocket Technology?
Company publicity material states that it is ‘the world’s first rocket and space technology to produce fuel by using fuel oil residues from refineries’. The project is headed by famous Russian scientist, Anatoly Papusha, who was involved in the development of the Buran space program. Papusha has assembled a team of leading Russian scientists and academics, with expertise in such fields as space technology, chemistry, economics and ecology. In addition, the team boasts dozens of marketing and blockchain experts.
Papusha Rocket Technology’s Ethereum-based cryptocurrency is called PRT, and the company aims to use the Papusha Rocket ICO (PRT ICO) to fund the development of its portable, small-capacity, oil-refining PRT-2 units. These units recycle fuel oil residues from gasoline, kerosine and petrol into valuable fuels and synthetic oil. The company has already proved the technology is viable, with the development of its patented PRT-1 unit.
Benefits of the Project
Anyone can participate in the global environmental project, with the incentive that they can make a profit at the same time as helping the environment. The team believes the unique project will be a new milestone in ecological science and will highlight the advantages of decentralized economies.
Blockchain Technology Aids Transparency and Democracy
With respect to Papusha Rocket Technology’s PRT token and the subsequent token sale, this was deemed the most transparent and honest way to secure financial backing for the project.
According to the developers, it was important to have decentralized investment so
that it could be made globally available, rather than becoming the property of a single government or investor.
The project head Anatoly Papusha, commented:
“I believe the ICO format and decentralized ownership of the project’s tokens will allow the most rapid and qualitative solution of modern ecology and energy problems ”.
Financial Structure
- PRT-2 cost: $450,000
- Sale price: $950,000
- Net profit from one unit: $500,000
Papusha Rocket Technology aims to sell 6200 PRT-2 units in 3 years. Following this, it claims it will re-buy tokens from the exchange, at a cost of $883 million.
Token Sale Details
The Papusha Rocket Technology token sale begins on August 22, 2018, with a total supply of 100,000,000 PRT and a hard of 13,500 ETH. 100 PRT is the minimum contribution amount.
A Bright Future for Papusha Rocket Technology and the Earth?
With environmental problems a fact of life for the earth and its inhabitants, it could be argued that the marriage of blockchain and industrial recycling is a match made in heaven. The fact that Papusha Rocket Technology is adding a heavyweight scientist and space technology to the mix could mean an increased chance of success for the developers. If the project manages to leverage its various strengths and attract not just potential backers with deep pockets, but ordinary citizens worldwide, it may find itself in an enviable position in the future, while also making a positive contribution to the planet.
Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews
Image Courtesy:
The post Papusha Rocket Technology Combines Blockchain and Space Technology to Clean Up the Earth appeared first on BitcoinNews.com.