FAQ

Last Updated: Friday, 12 April 2024


Q1. What is Green Earth Blockchain project?

Answer: Green Earth Blockchain aims to use blockchain technology to authenticate and reward all honest participants in the global food industry, including various natural products and services related to nature and ecology. Every participant from Producer/Farmer to Consumer will be rewarded for their participation in the Green Earth Blockchain. All completed transactions are posted on the blockchain and visible online, including a list of all Users and Participants involved in a given e-commerce transaction.The Green Earth Blockchain Token (GEBT) is used to reward all Users and Participants in the entire supply chain that is supporting the authenticity and transparency. The GEBT token is developed using Algorand blockchain project, with Algorand Asset ID: 860192439


Q2. What does Green Earth Blockchain aim to do? What problem are you solving?

Answer: Green Earth Blockchain project aims to fight the widespread corruption in the global food supply chain, because harmful substances and banned chemicals are regularly being added to the foods and natural products. The availability of latest blockchain technology can be leveraged to make an impact, by bringing transparency into the food supply chain, to track everything from the food source/farm onwards. Because Green Earth is taking up a bold and ambitious project, it will need resources to execute the plan, and make an impact on the prevailing global setup.


Q3. Is food quality and adulteration such a big problem? What is the impact of this problem? 

Answer: Food adulteration is a global problem of a very large size. Just imagine, 10-30% of food samples bought from the retail markets are not conforming to the required standards (in different countries). The lack of transparency in food production has been leading to all kinds of tampering, adulteration, and misrepresentation of ingredients and food products – all of which impact the health of people/consumers, and the impact is highest on children and young adults because their vital development suffers, and their long term health is badly impacted. India and China have highest food adulteration, so a large population of the world is impacted by food fraud/adulteration. Developing countries like Brazil, South Africa, Malaysia, Indonesia, Mexico, etc also have sizeable food adulteration. Rampant use of harmful chemicals, dyes, pesticides, and hormones in the food supply chain are the root cause behind many long term health issues in children and people today and in the future. 


Q4. What are the main benefits of Green Earth Blockchain?


Q5: What kind of clients or businesses can benefit from Green Earth?

Answer: All businesses (offering natural products/services) and food producers involved in producing authentic/genuine/organic/natural food products can benefit from Green Earth blockchain, and the global visibility they will get from Green Earth Blockchain Users. However, they must demonstrate transparency, and show source level tracking for their food supply chain.Without source-level tracking in food production, any company can not enter the Green Earth blockchain. In other words, food companies involved in adulteration will not be able to enter Green Earth blockchain because they just can not show everything transparently!

Other types of businesses or services include: natural or alternate healing practitioners; subject matter experts on forestry, food forests, herbs, natural housing, pet care, etc. Practitioners like gardeners and nurseries, etc. Most of such natural or traditional practices and expertise, are very distributed, dependent on word of mouth for its survival, and has a bottom to top spread of knowledge. These are mostly community focused rather than a top down distribution. For a greener earth, they need wider recognition, traceability, and record of benefits delivered to their consumers/customers/patients. And hence, they will benefit immensely from Green Earth blockchain.


Q6. How will Green Earth token promote Ecology?

Answer: Transparency and discovery of scarcity will mean better share in value chain for those involved in producing natural products and maintaining the ecology which produces it. Hence instead of wholesale destruction of ecology, it will lead to preservation as a means to prosperity. Green Earth Blockchain will carefully evaluate and add the authentic/genuine food producers, many of who are based in rural and tribal communities across the world, and they are strongly aligned and motivated to protect the ecology, because their survival depends on it.


Q7. How will Green Earth project help social efforts or communities involved in green practices or nature conservation?

Answer: First, we actively promote community products over individual entity products. Second , Green Earth is ensuring that communities producing or processing natural goods and services transparently distribute the token rewards.


Q8. What is the role of Green Earth Blockchain Token (GEBT)?

Answer: Green Earth Blockchain Token (GEBT) is the instrument of this change that we want to bring. Its the project’s utility token. The token will support the food producers working honestly and promote them on national and international level, and the token will also oppose the food producers involved in corrupt practices and using harmful chemicals and banned substances. If we are standing up for what is right, it means that we are also standing up against what is wrong – and that’s what Green Earth Blockchain project aims to do.

The effort/participation of the Users releases the GEBT tokens (otherwise they will not get released for the main project wallet), so we can consider the effort/participation of the Users as the equivalent of mining in some other blockchain projects.


Q9. Can we consider Green Earth Blockchain Token (GEBT) a financial asset or security?

Answer: No. Green Earth Blockchain Token (GEBT) is NOT a financial asset or security. GEBT token is not backed by any assets, and GEBT token should NOT be considered as a financial asset or investment.

GEBT tokens are being given as a reward to project Users and Participants, and the token price can go up or down in the future based on the demand for the tokens in the market/exchanges, which in turn maybe based on the growth of the Green Earth Blockchain project. The market rate of the GEBT tokens on the crypto exchanges will be decided by the demand-supply dynamics for the token.

Important Note: Green Earth Blockchain Token (GEBT) is a utility token meant for the working of the Green Earth Blockchain project. The GEBT token does not represent any asset or security, and there are no guarantees of any type regarding the token price appreciation over any timeframe. Forward looking statements and project goals are not guarantees or assurance of any type. Environmental risk, Technology risk, and Market risk are involved in the project.


Q10. What are benefits of Green Earth Blockchain Token (GEBT) for Users?

Answer: Green Earth Blockchain Token (GEBT) is being given as a reward to project Users and Participants, who are participating in various projects/efforts of Green Earth Blockchain. The effort/participation of the Users releases the GEBT tokens.Following are they key benefits of holding GEBT tokens:

(a) Participation in Project Governance: GEBT token holders can participate in the governance of Green Earth Blockchain project once the User Council is established, and this will include voting on key decisions regarding the growth and direction of Green Earth Blockchain project. We sincerely believe that involving a large, globally-distributed, base of GEBT token holders/Users will build a strong long term foundation for the Green Earth Blockchain project.

(b) Monetize on Crypto Exchange: GEBT token holders can sell their GEBT tokens on the crypto exchanges at the prevailing market rate of the token. Currently the GEBT tokens are listed currently as GEBT/USDT pair on Vindax.com and Dex-Trade.com. Our project roadmap includes listing the GEBT token in India as GEBT/INR pair at a suitable crypto exchange, because we believe that a large User base of GEBT tokens will be based in India.

(c) Redeem tokens for Privileges: GEBT tokens could be redeemed for certain natural products or Eco-services like Ganga Coaching Camps, eco-tourism stays, which will be enabled in the future.

We believe that involving a large, globally-distributed, base of GEBT token holders/Users will build a strong long term foundation for the Green Earth Blockchain project.


Q11. What kind of projects or initiatives are being done/supported by Green Earth Blockchain?

Answer: Green Earth Blockchain is supporting a wide range of projects and campaigns on the ground level to make a difference. For example: (a) Promoting Authentic/Genuine Farmers and Food Producers in India, using the transparency of the blockchain (b) Executing a large scale tree plantation campaign in Central India (MP state) and North India (Himachal Pradesh, Uttarakhand) (c) Involving disabled people or marginalized people into the Green Earth project work, to give them income.


Q12. How can we learn more about Green Earth Blockchain project?

Answer: Please see our YouTube channel, which has many videos and project updates.

https://www.youtube.com/@greenearthblockchain


Q13. Where can we see the Green Earth whitepaper?

Answer: Here’s the link for Green Earth Blockchain project whitepaper. It describes the project vision, goals, problem, solution, and execution plan in detail. https://greenearth.ai/whitepaper.pdf


Q14. What blockchain protocol is used by Green Earth Blockchain Token (GEBT)?

Answer: Green Earth Blockchain project is based on Algorand blockchain, and Green Earth Blockchain Token symbol is GEBT.  Earlier, Green Earth Blockchain project was voted among the top 5 blockchain projects on Algorand blockchain by its Users.


Q15. Why did Green Earth Blockchain choose Algorand protocol?

Answer: Green Earth chose Algorand (ALGO) blockchain because Algorand is relatively easy for project development and has one of the lowest transaction fee among all blockchain protocols at 0.001 ALGO per transaction, and therefore, GEBT token also has one of the lowest transaction costs in the world, to enable millions of transactions or micro-payments and rewards to millions of Users at lowest possible costs, while keeping a transparent record of all transactions. Clearly, Green Earth Blockchain project would not be possible on Ethereum blockchain as an ERC token, because of its high gas fees. Ethereum is just not designed for high volume transactions, but Algorand is!

In fact, Algorand blockchain stands out with its high-volume transaction capabilities along with lowest transaction costs. Algorand gives Green Earth Blockchain: Decentralization, Scale, and Security. Algorand consensus mechanism is permissionless and “pure proof of stake”. It ensures full participation, protection, and speed within a truly decentralized network. With blocks finalized in seconds, Algorand’s transaction throughput is on par with world’s largest payment and financial networks like Visa and Mastercard. And Algorand is the first blockchain to provide immediate transaction finality.


Q16. Is Algorand blockchain EVM compatible?

Answer: Yes, Algorand is EVM compatible. It’s possible to deploy EVM-based dApp on Algorand with Milkomeda A1. Milkomeda is a new protocol that brings EVM capabilities to non-EVM blockchains like Algorand, using a Layer2 solution, through the EVM-based Rollup Algorand-Milkomeda A1. This means that the GEBT token can be launched on the Binance Smart Chain (BSC) at a future date if required, and can be made available on popular decentralized exchanges/swap sites like Pancake.

Background Information: In 2021, over $6 trillion in transactions were settled on the Ethereum network, from a wide range of blockchain applications such as DeFi, NFT, and games. However, Ethereum is just not suitable for transaction processing as it can process only about 15 transactions per second (super slow), and the surging demand for transactions led to congestion on its network and high transaction fees. So a solution was needed, and it was called EVM. Ethereum Virtual Machine (EVM) is a virtual CPU for Ethereum to execute codes of smart contracts. EVM-compatibility means creating an EVM-like code execution environment that makes it easy for Ethereum developers to migrate smart contracts to an EVM compatible chain without having to write the code from scratch again. Popular EVM-compatible chains are Binance Smart Chain (BSC) and Polygon.


Q17. Where can we buy Green Earth Blockchain Token (GEBT)? On which exchanges is GEBT token listed? Any plans of listing on more exchanges?

Answer: GEBT tokens are available for buying on two centralized exchanges currently: Dex-Trade.com in Europe and Vindax.com in Asia. Here are the links:

https://vindax.com/exchange-base.html?symbol=GEBT_USDT

https://dex-trade.com/spot/trading/GEBTUSDT

Please see the GEBT token page to learn more about GEBT token exchange listings. The main token pair is GEBT/USDT (for centralized exchanges like Dex-Trade and Vindax) and GEBT/ALGO (for decentralized exchanges like Tinyman and Algodex). Subject to availability of funds, we may also list GEBT on a larger exchange Gate.io during 2024-2025.

Our roadmap includes listing of GEBT token in India (on a suitable exchange), to establish the token pair GEBT/INR for the Users based in India, and this step will be done based on project growth and availability of funds.

It is our aspiration to get GEBT token listed on Binance at some point, because that will open up the access to global crypto investor community, and significant new liquidity can come into GEBT token from larger funds. However, token listing on Binance is a very subjective decision by Binance, and we are not depending on it for our project growth.


Q18. What was the launch price of Green Earth blockchain token (GEBT)? 

Answer: Then token launch price was 1.00 USDT on both crypto exchanges (Dex-Trade.com and Vindax.com) and the same has been used for creating and registering the token pairs for  GEBT/USDT and GEBT/ALGO using Tinyman (decentralized exchange or swap site).


Q19. What is the current price of Green Earth blockchain token (GEBT)? 

Answer: The current price of GEBT token is 1.15 USDT. During the year last 6 months, the market price of GEBT token has been in the range from 0.85 USDT to 1.30 USDT. Following are the GEBT token stats as of this update.

============================
Date: 31 Mar 2024
Max Total Supply: 1 bn (pre-defined, finite supply)
Locked Supply: 800 mn (not available before Jan 2027)
Available Supply: 200 mn (available for project development)
Released Supply: 1 mn
Total Users: 1,918
Market Rate: $1.15 USDT
Avg Daily Volume: $12K USDT
============================


Q20. What are the Use Cases of Green Earth Blockchain? Where can we learn more about the Use Cases?

Answer: Green Earth Blockchain has the following Use Cases:
1. Food Authenticity Tracking
2. Natural Healthcare
3. Carbon Credit Trading
4. Strategic Food Reserves
5. Sustainable Tourism
6. Green Earth Initiatives (Tree Plantation, Fresh Water Ecosystems, Himalayan conservation, etc)

All these use Cases are linked to natural products and natural resources. “Food Authenticity Tracking” is our first and major use case, and we have developed our blockchain system for it, along with associated e-commerce platform linked with the physical supply chains for foods and natural products. We can develop more Use cases after establishing a customer base for the above Use cases. Also, new use cases may come up in the future based on User feedback. Please see this post to learn more:  https://greenearth.ai/use-cases-of-green-earth-blockchain/


Q21. Where can we learn more about Green Earth Blockchain Token (GEBT)?

Answer: Please see the Token page: https://greenearth.ai/token/


Disclaimer: Green Earth Blockchain Token (GEBT) is a utility token meant for the working of the Green Earth Blockchain project. The GEBT token does not represent any asset or security, and there are no guarantees of any type regarding the token price appreciation over any timeframe. Forward looking statements and project goals are not guarantees or assurance of any type. Environmental risk, Technology risk, and Market risk are involved in the project.

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