Malaysian EMJAC to launch a tire pyrolysis initiative backed by cryptocurrency
According to the recent news by ExMarkets – a cryptocurrency exchange platform, the first tire recycling initiative using blockchain (distributed ledger technology) is expected to appear on the platform in August with an Initial Exchange Offering. The name of the initiative is EMJAC, it was organized in Malaysia and it seeks converting scrap tires into energy, thereby reducing amount of waste and dangers that scrap tires normally pose. EMJAC has a digital platform that relies on up-to-date blockchain systems that, reportedly, will allow controlling and cutting unsanctioned tire discarding. EMJAC IEO relies on tire pyrolysis process and will start operating on 1 August until 31 August.
To make the project transparent, EMJAC’s CEO Meng Kwan and his partners came up with a special system that can enable users to watch the stream of the entire scrap tires processing routine, as well as they can purchase, sell and trade created energy into the cryptocurrency.
Meng Kwan noted that he now wants the global community to take part in his blockchain project so it would become possible to reach sustainability. Those who want to support the initiative are encouraged to purchase EMJAC’s native tokens with their price starting at $0.08; the cost is expected to escalate closer to the end of the sale.
More information about the project is available at Medium and in EMJAC’s white paper.