Contemporary society is characterized by having a free flow of data, where the one who owns it has power over any factor related to it. These factors are not necessarily a product or part of the information, it can also be understood in its most basic form as inputs that must be processed. Although the result coming from information is important, the clarity and veracity of its objectives are also necessary in order to guarantee its validity.
At corporations, the high-quality standards in data management make way for complete information that is translated into adequate decision making and leads to large investments to achieve objectives in terms of profits and in terms of maximizing profitability for shareholders.
According to the perfect competition model which is an economic theoretical structure, the consumer is a price-taker and it is assumed that he has complete information about products being offered. However, the competition and the multiple offers of the same product make it impossible for consumers to collect such amounts of information. On the other hand, during the purchase act, the implicit preferences of consumers are influenced by emotional and irrational behavior. These decision-making patterns are not limited only to goods markets, but also to financial ones.
Nowadays, the options for managing financial products are endless. Stock markets allow corporations and people to leverage assets since most of these are highly liquid. However, governments all over the world pass laws and regulations that hamper financial transactions. It is widely recognized that many government administrations are highly inefficient when they try to manage their resources. This was conceived by the Nobel Prize in Economic Sciences (1976), Milton Friedman, who used to blame mainly the government for market failures. However, government interventions are not necessarily negative, as far as the free market works well. In this regard, technology has established a new paradigm. It places at the disposal of people various instruments to manage financial assets.
The blockchain is one of the technological tools that has allowed the flow of values to be more efficient. Under this structure of data, DECA emerges, an innovative cryptocurrency, which aims to boost a green economy, incorporating Carbon Credits into a blockchain rather than being exchanged in government markets.
The idea arises from the need to reduce carbon emissions, which is the main goal of the Paris Agreement. Same that was diminished by the evasion or non-compliance of some countries, due to the low regulatory rigor and the adjacent measures for these purposes.
The purpose of this cryptocurrency is: to allow the access of any individual or entity that has Carbon Credits, to place their values in the blockchain, through mechanisms of decentralized cryptographic consensus that allow high-speed transactions through their lightning network and guarantee their safety.
DECA pretends to contribute to the environment through the management of Carbon Credits, extend the technological development through the blockchain data structure and promote financial transactions in an easier, faster and more secure way.
Sources:
DECA WhitePaper (2019)
Kotler, P. (2012) Marketing
Shiller, R. (2000) Irrational Exuberance