Emjac - ICO Review

Whereas most environmental projects try to deal with global issues like excessive carbon emission or uncontrolled waste dumping in soil or oceans, other initiatives are trying to narrow their focus on one specific activity that is beneficial to a particular industry and ecology in general.

Mission statement

EMJAC is a Malaysian blockchain startup that has chosen a very specific, yet quite promising, niche of waste tires recycling. The potential of this idea lies in the fact that the number of cars worldwide is increasing year after year, thus boosting the volumes of used tires. According to the statistics, more than 2 billion used tires are being stocked annually, while barely a third of them get recycled in a proper way. The rest simply get burned, which deals immense damage to the environment and human health because the released smoke contains a tremendous amount of toxins and harmful residue.

EMJAC: Tyre Recycling System on Blockchain

The members of the EMJAC team have set themselves a goal of creating a one-of-a-kind platform that should merge the Ethereum blockchain and technology for the expeditious and efficient recycling of used tires. As always, the newly developed system is going to be powered by the ERC-20 utility token - this one has the ticker EMJ - which also serves as a means for obtaining the required funding through the private sale that will be followed by the IEO.

The peculiarities of the EMJAC system

The incorporation of blockchain, and the Ethereum’s trademark smart contracts, in particular, will help to establish a system for managing every stage of the process of tires recycling and the subsequent generation of products with added value, such as green diesel, syngas, black carbon, and steel wires.

The EMJAC ecosystem will allow businesses to not only trace the path of tires from a junkyard to a recycling sight with the help of verified transporters and shippers. The actual recycling will occur in the special thermal recovery unit (TRU) that utilizes advanced air-lock technology. All processes are to be written into and controlled by smart contracts, namely payments execution, transaction tracing, and dispute resolution. In addition to the business network, EMJAC intends to roll out a blockchain-based marketplace, also controlled by smart contracts, where the participants will be able to purchase synthetic fuel and other products mentioned above. Understandably, all financial settlements are to be carried out in EMJ tokens. Moreover, these tokens will grant its holders access to leverage, options, and futures trading on the EMJAC platform, which will be interconnected with a third-party cryptocurrency exchange. 

The EMJAC team

• Azrizal Mydin. Founder and CEO. A business manager and Six Sigma specialist who had extensive experience working as a senior executive at several Malaysian companies.  
• Adnan Siddiqui. Co-founder and CTO. A certified blockchain developer who has previously served as an advisor to the Product Protocol project.

IEO details

EMJAC is now conducting a private sale that will end on December 25. The crowd sale will take place on the P2PB2B Launchpad in the period from December 20 till January 24, 2020. The current price of 1 EMJ is $0.048 but will increase to $0.08 during the IEO. The project is aiming for a softcap of $5 million and the hardcap of $35 million. EMJ can be purchased with BTC, ETH, and USDC. All investors must pass KYC; no area restrictions were being imposed.

Author: Alex Paulson for Crypto-Rating.com

• Leverage the latest Blockchain technology to solve the global waste tyre stockpile
• Reduce illegal waste tyre dumping by creating value for waste tyres
• Streamline and trace the movement of waste tyres from source to recycling plant
• Increase the percentage of global waste tyres recycled in an environmental friendly manner
• Grant a long-term worldwide sustainable and renewable energy supply
• Providing a solution and trading platform for waste tyre supplies, logistics and products