Quote from: EcoBit Early Adopter on April 10, 2017, 08:07:05 AM

Quote from: uziz8doh on April 10, 2017, 06:08:24 AM

Quote from: McDoxy1 on April 10, 2017, 05:42:05 AM

Quote from: greentea on April 10, 2017, 05:31:18 AM

How exactly will the million acres generate revenue?

From my research and what I understand from their website, they were given a 30 years concession for that piece of land by Kelantan (a Malaysian state). They are in charge of the carbon credits which are available on that land and will trade with those on the stock exchange. 55% of those profits will go to Kelantan, 45% to the company. (see their answer above) From those 45% a certain percentage goes to Ecobits and with that profit they will buy back Ecobits on crypto exchanges, increasing the value of the token.

sorry bd english,

google says 2 years. but you say 30 years?

which is which?

http://www.thestar.com.my/news/nation/2017/01/10/kelantan-and-firm-ink-agreement-to-audit-its-carbon-credits/

Kelantan has signed a two-year contract with a company

so maybe after that above 2 years, they will close down? no?

To clarify:
- The state government (i.e. Kelantan) has an agreement with the company, Climate Protectors Sdn Bhd, in which there is a 30-year concession over which the company has certain obligations (e.g. managing the 360,000 hectares/1 mil acres of forested reserves, performing a carbon audit).
- In return for fulfillment of those obligations, the company derives certain benefits, specifically profit-sharing related to the carbon credits sale.
- The profit sharing is in the ratio of 55% to the state government and 45% to the company.
- The company (Climate Protectors Sdn Bhd) is the promoter of the EcoBit programme.

30-year concession but contract ends in 2 years. maybe kelantang governemt won't renew your contract and you all run away with our funds. smells funny yes?