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
Sorry for the late reply as we are not full time in crypto scene.
The concession is 30 years but first two years is the verification and validation process, which is to determined the total carbon trading/offset.
so maybe after that above 2 years, they will close down? no?