Phaeton is aiming to bring decentralization to the real world with its innovation through blockchain technology. Phaeton’s ecosystem allows traders to leverage multiple Sidechains to make the most of the asset. In addition, Phaeton aims to bring a sustainable future using blockchain. Under a strong management structure, Phaeton Technology is creating a Social Impact Platform that incubates, develops, and collaborates with new and established business enterprises that address social and environmental challenges in line with the United Nations Sustainable Development Goals.
With every new generation of technology, the need for sustainability and renewable resources has become a priority and blockchain technology is no different. The Bitcoin energy consumption FUD has already damaged the decentralized world, and Phaeton aims to make a change with its sustainable approach. Phaeton will partner and establish multiple businesses in the real estate and renewable energy sector. The investment and further business development in the real world would offer an authentic and stable value for the native token and its holders, making it a reliable investment.
Phaeton’s Incubation Platform is designed to support several Sidechains. It is not merely a single blockchain that exists in isolation but multiple factors coming together to build an ecosystem. There are several advantages to its approach:
- Scalability: Phaeton supports multiple blockchains through a mechanism called “Sidechains”. It allows transactions to be processed efficiently and in parallel.
- Interoperability: Different Phaeton Sidechains and applications can share information and functionality thanks to Sidechain’s operating design and compatibility between chains.
- Specialization: Each Sidechain can be tailored to a specific use case or application.
As an incubator, Phaeton focuses on helping Social Impact businesses. These include enterprises that have conceived innovative ideas that require blockchain guidance during their initial stages until they can sustain themselves in the market. Included will be an accelerator program that provides investors, mentorship, and other support to help them stabilize their business.
Phaeton aims to make Sustainability a Valuable Asset for investors.
Utilizing its Phaeton Blockchain, Phaeton intends on establishing a service by assisting enterprises in establishing their own “Asset-backed Tokens’ ‘ owned and operated under a company structure. These enterprises will be Side Chains of the Phaeton Blockchain. In establishing additional Sidechains, Phaeton Coin (PHAE) should increase in value through “staking” technology. It means that whenever a transaction takes place in a Sidechain, a small percentage of the transaction fee is burnt to PHAE. Phaeton Reward mechanism kicks in by rewarding delegates 4 PHAE every 5 seconds in a delegate round. It is halved every two years until it hits 1 PHAE and is locked at 1 PHAE.
Phaeton has initiated a new business silo, Phaeton Energy, in partnership with Raw Energy. The silo is focused on the investment and development in solar and hydrogen power and, to some degree, wind power. In line with the ESG ethos, Phaeton Energy treats these renewable energy sources as a horizontal silo by integrating them with other Phaeton Blockchain silos such as data centres and smarter communities. This end-to-end strategy aims to drive more value based on a sustainable business model. Some of the key Sidechain or businesses that Phaeton would be working on include:
- Hydrogen Energy: Phaeton Pty Ltd is working with NanoMem. This solutions-based group has created and manufactured meta membrane products. In addition, Nanomem has partnered with Monash University and Murdoch University to commercialize the next generation of meta membrane technology. Once this technology is advanced, the aim is to support the roll-out of solar farms.
- Battery Storage: Phaeton is working with Cell Cube’s Australian division that manufactures vanadium redox batteries. These batteries will be incorporated with the solar farms to store the surplus electrical power for later use. The advantages of vanadium batteries include.
- Carbon Credits: Australian Carbon Xchange (ACX) has appointed Phaeton Technology to create and develop a Marketplace for Carbon Credits. ACX is natively built on one of the Phaeton Side Chains to serve the Carbon Credit industry. The development of solar farms and their adjacent land offer opportunities for creating Carbon Credits.
- Smarter Housing Community: Where there is an energy source, there is the potential to create a Smart Housing Community. Phaeton will master-plan, design, and develop these communities with Smarter Homes under its real estate division, should surplus land or neighbouring land close to the solar farm.
Phaeton’s Blockchain Technology becomes the first to get incorporated in Real Estate.
An Australian real estate firm G8 Galgoyl Pty Ltd, has appointed Phaeton to design and incorporate its unique, innovative technology products in real estate development. Phaeton being a technology partner, would offer the services in the solar energy department. In addition, it will incorporate solar-powered data centres.
Phaeton Energy’s solar division will be responsible for installing solar roof panels to the roof of the main building and over the parking area. It will provide renewable energy for the residents and a Phaeton Data Centre. With Phaeton Energy’s blockchain ledger, any excess energy will be sold to the primary grid, therefore, reducing the energy bills to the benefit of the residents.
Other team members in the development include Cottee Parker Architects and Zerneke Cottee Building contractor. Cottee Parker Architects is a national practice with studios operating in Brisbane, Melbourne, Sydney and Perth. Serneke is one of Sweden’s most prominent and fastest-growing construction & development companies, with more than 1,000 employees and a turnover of around a billion Australian dollars.
This development project is a perfect example of how Phaeton is improving the real estate development and investment market with its Blockchain-based products. These Blockchain products not only increase a project’s value but create a better living environment through ESG principles.
To learn more about Phaeton, visit Phaeton.io