All sectors / Afforestation / ForestCoin
Auckland, Auckland, New Zealand
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ForestCoin Limited is a company that integrates blockchain technology with environmental sustainability efforts, particularly focused on reforestation and forest conservation. They incentivize and promote global reforestation and forest conservation efforts by rewarding participants with a digital currency (ForestCoin) for their contributions to the environment. ForestCoin Limited is creating a sustainable future where tree planting and forest preservation are rewarded through an innovative and transparent blockchain system, contributing to the fight against climate change and environmental degradation.
Brent Crysell
Managing Director
Operating since
11-50 Members
Eco-system
Forests
Cities and Towns
Villages
Sub-sectors
Social Change
Community Resilience
Climate Change Mitigation
Carbon Offsetting
Method and technique
ForestCoin is a blockchain-based digital currency that serves as a reward for environmental actions. It can be held, traded, or spent within the platform's marketplace or through partner networks. Participants earn ForestCoins by planting trees or engaging in forest conservation activities. This process involves submitting evidence of the activities, which are then verified by the company. The verification of tree planting and conservation efforts is done using satellite imagery, GPS data, and on-the-ground inspections to ensure accuracy and legitimacy. ForestCoins can be used to purchase goods and services in a marketplace that supports sustainable and eco-friendly practices. The currency may also be traded on cryptocurrency exchanges. The company collaborates with NGOs, governments, and environmental organizations to expand its impact and ensure that its activities align with broader conservation goals. By incentivizing tree planting and forest conservation, ForestCoin Limited contributes to carbon sequestration, biodiversity preservation, and the restoration of degraded landscapes. Local communities often carry out the tree planting efforts incentivized by ForestCoin, providing them with financial rewards and promoting sustainable land use.
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