FRED Energy writes its first product to the Stellar blockchain
On the 13–12–2020 at 23:56:07 UTC we wrote our DSA-1 prototype to the Stellar blockchain using our FRED Asset Control Token (FACT).
You can view the transaction here https://stellar.expert/explorer/public/payment-locator?memo=DSA-1-PR%20SNPR0001%20BP22PR0001
FACT will be used to track our manufactured products with the aim of reusing battery packs. Consumers of our products will be able to search and view information about the history of the product held on the blockchain. We are aiming to begin shipping of our JV developed products by Q4 2021.
Why use blockchain to track our products?
We are going to be using emerging battery cell technology that has an extremely long lifecycle of between 5,000–20,000 cycles (this equates to between 4–20 years of use). The aim is to develop quality eco-friendly longer-life consumer products with reusable battery packs.
Many of today’s products use cheap, low quality battery-cells that reach end-of-life before 2 years and it is estimated that less than 5% of Lithium-ion batteries are recycled, the rest goto landfill. This is where we aim to make a change and perhaps influence wider industry to do the same.
In writing our products upon manufacture, retail, reuse etc, we will be one of the most transparent product manufacturers out there, EVER! It could be argued that this could give away competitive advantage, but we are hoping that our approach and products will differentiate us from the others.
It won’t be long before the large corporates take the above as their own, just remember you read it here, and we did it first.