{"id":7725,"date":"2022-05-29T06:25:01","date_gmt":"2022-05-29T00:55:01","guid":{"rendered":"https:\/\/aayushbhaskar.com\/?p=7725"},"modified":"2022-09-09T01:08:35","modified_gmt":"2022-09-08T19:38:35","slug":"interesting-algorand-projects","status":"publish","type":"post","link":"https:\/\/aayushbhaskar.com\/interesting-algorand-projects\/","title":{"rendered":"5 Interesting Algorand Blockchain Projects","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

I have been inundated by requests for more interesting projects being built on the Algorand blockchain after my review of Lofty was published.<\/p>\n

Yielding to your requests, here, I review 5 interesting projects building on Algorand for your consumption.<\/p>\n

But first. Let’s talk about Algorand<\/h2>\n

Algorand is a public blockchain<\/a> that prides itself as the most scalable, decentralized & secure chain out there.<\/p>\n

Additionally, it is maintained that the overall carbon footprint of the Algorand blockchain is the lowest<\/a>. Various metrics are put forward in support of this claim<\/a> but all of that is not relevant to our purposes.<\/p>\n

During the course of my research, I have found that many projects with a focus on sustainability are indeed being built on Algorand.<\/p>\n

This leads us to believe that their claims do have traction.<\/p>\n

Let’s review some of these interesting projects below:<\/p>\n

1. Carbon Credit Token on Algorand<\/h2>\n

The Carbon Credit Token<\/a> (CC) is a Cryptocurrency linked with the price of European Union Allowances (EUA) Carbon Credits that trade on the European Union Emissions Trading System.<\/p>\n

The EU, in an effort to monetize the impact of environmental responsibility, has put in place a system of allowable carbon emissions per year by industrial units & utility providers.<\/p>\n

Those who stay within the allowable cap can trade the carbon credit on the emissions trading system with those units that aren’t in compliance & must purchase the right to emit carbon beyond the allowable cap. Otherwise, there are severe penalties.<\/p>\n

\"Algorand\"<\/p>\n

The project aims to provide access to the EU carbon futures market to small & medium enterprises as well as retail investors by linking the price of the CC Token to the EUA futures as the underlying asset.<\/p>\n

At the moment, the market has high barriers to entry, given domination by large firms.<\/p>\n

2. QauntmRe on Algorand<\/h2>\n

QauntmRe<\/a> is a protocol that allows you to monetize your home equity. This isn’t groundbreaking, except that they do so without the burden of any additional debt or interest payments.<\/p>\n

Traditional finance systems do not treat your hone equitization as a permanent sale of part ownership. Instead, they view it as a loan that adds to your debt burden. It is understandable that the issue with traditional finance systems is that the prevailing legal structure is not in sync with part ownership.<\/p>\n

Blockchain technology changes that and QauntmRe, after tokenizing your home equity, invites interest from investors looking to take part in equity ownership in housing real estate<\/a>.<\/p>\n

As this is equity, there are no guaranteed repayments of the investment. Instead, the Home Equity Agreement allows the seller to settle the agreement by selling the house or refinancing\/renewing the agreement for up to another 30 years.<\/p>\n

From an investment point of view, home equity agreements by QauntmRe provide nonstock, bond, and crypto-linked returns from the housing market.<\/p>\n

Also, they allow building a diversified property portfolio and avoiding risks inherent with a single property purchase.<\/p>\n

3. Soundmart on Algorand<\/h2>\n

For most artists, the problem is that their income is subject to high variation. This makes them unbankable for traditional finance systems resulting in limited access to capital.<\/p>\n

Soundmart<\/a> aims to solve that by providing African content creators a platform to tokenize their content, as an NFT, and sell equity in their new creations to investors on their marketplace.<\/p>\n

Once the content is released, the investors & creators share in future royalty receipts. The model works for both existing & new content with various options.<\/p>\n

For example, as a creator, I can decide to only sell royalties from online streaming & keep the rest for myself.<\/p>\n

\"Algorand\"<\/p>\n

The platform does all the vetting and documentation, including a review of existing agreements with publishers paying out royalties before tokenization and sale take place.<\/p>\n

This protects investors in the marketplace who may independently review all documentation before investing.<\/p>\n

4. Oystro on Algorand<\/h2>\n

Oystro<\/a> is designated to be a token that shall mimic the performance of the US Stock market. Effectively, Non-US Investors will have the opportunity to hold Oystro and have exposure to the US equity market from anywhere in the world.<\/p>\n

How exactly this will be achieved is unclear as the project is still under development. However, from the project literature, it seems that a mixture of active and passive strategies may be followed. Stay tuned for more.<\/p>\n

5. Planetwatch on Algorand<\/h2>\n

This is my favorite so far and has intrigued me to get in on the act as well. Planetwatch<\/a> aims to build a decentralized community-driven global network to track air quality data.<\/p>\n

However, this is unlike most sustainability projects that rely on benevolence, charity, or some higher ideal. Instead, Planetwatch is a complete economic model to invest, earn and save the planet.<\/p>\n

To participate, you will need to buy a preapproved air quality sensor and install it in your city of residence (could be your rooftop). Once done, you shall have to apply and purchase a license from Planetwatch to act as a data contributor.<\/p>\n

That’s it, you’re all set.<\/p>\n

\"Algorand\"<\/p>\n

Every time valid data is sent by your air quality sensor to the Planetwatch database, the blockchain records the transaction & rewards you with planet tokens.<\/p>\n

You may exchange your rewards immediately for stablecoins or stake<\/a> them to earn PW: Forest tokens. Consequently, you may exchange your PW: Forest tokens for fiat or, better yet, donate for planting trees.<\/p>\n

Concluding Note<\/h2>\n

The Algorand chain, in my humbly limited experience, is indeed an interesting one. Of the 5 projects that I have reviewed:<\/p>\n