Blockchain technology is being used for climate and environmental issues with climate change issues getting more serious.
Climate and environmental problems are becoming more serious, temperatures are rising and natural disasters are happening in one place after another. Instead of ignoring this condition, residents are becoming more aware of their consumption habits and insist on finding more sustainable ways to meet their needs. Similarly, brands have also committed to reducing their footprint.
While most companies have taken a more sustainable position, the payments industry is lagging behind. Since many new entrants and payment methods have joined the race, their thinking is directed towards winning without any sense of social, ecological or economic responsibility. This way of thinking has been reflected in the high cost of these services to consumers. The asymmetry between impact and corporate social responsibility only increased until the world became familiar with the concept of blockchain technology. With blockchain, there is the potential to gain access to additional transparency which, when used properly, results in less risk.
In addition to unprecedented transaction transparency, improved end-user experience, better process efficiency, and faster transaction speeds in business operations are other by-products of decentralization. Then the question arises, "Isn't it time you used this technology to change the rules of the game and make finances more ethical and responsible?"
Retreeb fills this gap with traditional financing as a sustainable alternative. Talking about the current market, a member of his team said that "paying at the heart of the exchange economy is the key to making blockchain mainstream and paving the way for new sustainable finance".
Beyond a trustworthy intermediary
Where finance was once a very opaque sector, Retreeb empowers customers to regain control of financial transactions. Their corporate and social responsibility model combined with a blockchain-based financial architecture offers an intermediary payment method that is free of the interbank fees that are common today. As a result, traders can now expect significantly lower fees from 0.9% to 1.5% compared to the 2.5%-5% currently common from centralized market participants like Visa or Paypal.
This is made possible thanks to Opera's Fantom technology and the blockchain infrastructure on which Retreeb builds its offering - an infrastructure that offers fast transactions, low fees and lots of development opportunities. Despite the decline, the platform continues to place a third of its fees (33%) on user-selected social projects, which the platform calls solidarity refunds.
In practice, Retreeb uses a "two-tier model" that includes tokenization of transactions and SEPA bank transfers. Tokenization is possible via Fanthom's "Lachesis DAG" form in the Lachesis protocol. The second pillar of the core model focuses on SEPA wire transfers, which aim to circulate fiat financial flows, which in turn helps the platform regain control of transactions to implement its business model.
Retreeb also uses a two-asset system that includes (S)TREEB (Retreebs Stablecoin) and (U)TREEB (Retreebs Utility Token). Together, the use of these decentralized technologies helps develop business models that are based on ethics and sustainability, not just profitability.
Paving the way for ethical finance
Since the company was founded, they have successfully built an international team with passionate experts from various fields. After Retreeb raised $2.2 million, Retreeb released its token in collaboration with Spookyswap and ranks among the top 9 projects in the world. Since then, they have built a community of over 28,000 followers on Twitter and 16,000 on Telegram. The team confirmed that further updates will follow. Their CEO announced the "imminent start" of their betting program during the Fantom developer conference.