Venezuela’s economy continued to be depressed in 2017. The economic crisis and food shortage forced tens of thousands of people to illegally exploit gold. The natural environment suffered great damage, resulting in serious water pollution, vegetation damage and air pollution. The Venezuelan environmental protection association was officially established at this time. It undertook the environmental governance projects appointed by the Ministry of basic industry and mining and the Ministry of environmental protection management of Venezuela. It combined the blockchain technology in environmental governance means and achieved good results. At the time when the Venezuelan government encouraged the development of new environmental protection technologies, GECH environmental protection foundation was established through this opportunity.
Venezuelan environmental protection association is a non-profit social organization, mainly engaged in public welfare environmental governance and transformation, funds from government subsidies and social donations, set up GECH The original intention of the environmental protection foundation is to further play the role of the association, provide environmental governance and transformation for the whole world with strong technical strength and scientific and technological level, and build a global environmental protection industry ecological chain.
GECH environmental protection foundation is a team composed of a group of experts from the field of blockchain and environmental protection industry. The GECH development team combined the blockchain technology in environmental governance and achieved good results. After that, with the efforts of the development team, the GECH application public chain was finally born in 2019. GECH is open-source software designed and released by GECH development team. The construction of the P2P network on it is a blockchain for promoting the environmental protection industry. GECH has started the global layout, fully infiltrated and integrated with various fields of global environmental protection industry to realize the efficient circulation and application of GECH. Many countries around the world have started at the same time to create a more open, transparent, reasonable and trusted ecological platform perpendicular to the environmental protection industry.
GECH uses the characteristics of blockchain technology, such as traceability, tamper-proof, data encryption security and so on. All business information and behaviours in the field of environmental protection industry can be stored in the whole process, the capital flow of project investment and the confirmation of rights and interests, and the stage tracing and auditing of environmental protection project supervision can be realized. It can realize the whole process management, follow-up supervision and effective supervision of all parties involved in the environmental protection ecological network, avoid human factors, reduce the efficiency of work, and the unfair results caused by subjective judgment. At the same time, it can provide environmental protection enterprises with services such as risk control, resource docking, project guidance, and project effect evaluation, project achievement acceptance and certificate storage for environmental protection public welfare organizations. It is helpful to realize the effective joint efforts of all parties involved in the environmental protection ecological network.
In the whole environmental protection ecological network of GECH, each participant is an independent individual. Each participant can promote the development of environmental protection industry and contribute to environmental protection. GECH environmental protection fund mine is such a cryptocurrency network to realize “threshold without” and “cost without ” that everyone can participate in. The total output of GECH is 1 billion pieces of GECH, which is produced in the form of cloud computing power mining。GECH is different from most digital currencies. GECH does not rely on specific currency institutions to issue. It is generated by a large number of calculations based on specific algorithms. GECH uses distributed database composed of many nodes in the whole P2P network to confirm and record all transaction behaviors. GECH uses cryptology design to ensure the security of all links in currency circulation. The decentralization of P2P and the algorithm itself can ensure that the currency value cannot be manipulated by manufacturing GECH in large quantities. The design based on cryptography can make GECH only be transferred or paid by the real owner, which also ensures the anonymity of currency ownership and circulation transaction.
GECH platform does not handle any funds and has no fund pool. When the platform is transferred or paid by the owner, GECH needs to deduct the handling fee, 30% of which will be automatically destroyed by the smart contract, and 70% will be used for the funds of GECH environmental protection foundation.Take out 30% of the total sales volume of the current quarter every quarter for secondary destruction.. Through global promotion, GECH enables every GECH member to pay attention to and actively participate in the global environmental protection public welfare undertakings. With the gradual increment of GECH, every member of GECH who participates in the exploitation of GECH has enough economic foundation to contribute to the global environmental protection public welfare.