ICO Review: Papusha Rocket Technology
• Name/Token Symbol: Papusha Rocket Technology Token (PRT)
• ICO Platform: Ethereum
• Industry: Technology, Oil & Gas
• Price: 1 ETH = 3500 PRT
• Soft Cap: ?
• Hard Cap: 13500 ETH
• Number of Tokens: 100,000,000
• Start Date: Aug 22, 2018
• End Date: Oct 22, 2018
• KYC: Yes
• Website Url: https://papusha.io/
• White Paper Url: https://papusha.io/files/Whitepaper_ENG.pdf
One of the core problems facing the world is global warming. More and more countries and organizations are waking up to the fact that temperature levels are increasing, and ice in the polar regions are melting, thereby increasing the risk of flooding. There is also the challenge of increased air and water pollution in areas where oil exploration is being carried out. It is no secret that the ecology of the world is in a sorry state.
Oil refineries which are typically surrounded by storages that contain a mass of black waste which pollutes the environment. Current residue rates are up to 20%. Scientists have often predicted that in less than a century if nothing is done to stop this, then most countries will have serious health and environmental hazards to deal with (some of which are already visible).
While it is possible to process these waste products, current traditional solutions are quite expensive. Moreover, the cost-to-benefit ratio makes them of low impact.
Papusha is working towards solving this ecological problem fueled by technological advancement. According to their website, it is “the world’s first rocket and space technology to produce fuel by using fuel oil residues from refineries offered by Anatoly Papusha, the Academician of the Russian Academy of Natural Sciences who developed the Buran program.”
The project combines rocket technology, ecology, and blockchain solutions. It will employ transonic combustion to eliminate toxic waste residues. Interestingly, in addition to removing waste, the project will enable the extraction of valuable products like synthetic oil, kerosene, and diesel from these waste products.
It will worth noting that there is currently no competitor to this technology in the world. Each PRT unit used for processing by-products has a small dimension and is built for high-efficiency operations. It also has an output of up to 60% liquid fuel. One PRT unit is expected to cost about $950,000, and this is way cheaper than traditional systems which is less efficient.
An excerpt from their website reads:
“PRT ICO produces small-capacity oil refining units to process black oil fuel and produce liquid fuel by using the transonic combustion technology. Every day refineries worldwide generate 1.35 million tons of residues. Depending on its capacity, one PRT-2-unit processes 30-90 tons of wastes per day.”
The brainchild of the project is Anatoly I. Papusha who doubles as the project author and developer. He is a doctor of Technical Sciences, a professor, Laureate of the State Prize of the USSR, as well as an academician of the Russian Academy of Natural Sciences, amongst others.
He has been in the field since the 1980s and was responsible for creating the world’ largest combustion chamber-carbon monoxide afterburner for the Soviet Buran space program.
The project comprises of 5 core team members and seven advisors. Looking at the experience they have had working in numerous fields, and I’d say the team is balanced and is bound to succeed.
Unlike most blockchain projects, PRT already has a minimum viable product (MVP). Their PRT-1 unit has already garnered recognition globally and has been granted a patent.
Other core milestones on their roadmap include getting listed on a cryptocurrency exchange and development/manufacturing of the PRT-2 units.