There has been lots of damage to our environment putting it at stake. On the other hand, deforestation is going on at a high rate. Considering this condition, a group of German entrepreneurs prepares a plan to work on a blockchain project. This project will help save trees at Paraguay as it is one among the worst deforestation influencing countries.
TreeCoin Using Blockchain Tech
TreeCoin is basically a blockchain project which holds the motto to stop deforestation. They are preparing to enable participants to share within an ambitious reforestation project. Recent new project decides to plant eucalyptus trees through most vacant areas incorporating a minimum 20% bigger than Paris.
The firm expects to generate a profit by selling off valuable eucalyptus timber possible four years. Beforehand, planning to secure trees from getting cut down. The earning profit will then reinvest to buy additional land for growing more trees. This cycle will go on continuing till the target accomplishes.
A group of German businessmen backing by Mr. Green and Mr. Jorg Schafer exhibits this new project at BlockShow Asia.
The Idea Behind This Project
The company explains, TREE is a security token which Swiss jurisdiction will provide the issuance. Moreover, the purchaser of a token can decide the number of trees they are willing to start with. Say, one TREE token equals to the one tree plantation that goes over $23. Moreover, this includes every management overhead along with land purchases.
TreeCoin decides to invest 50% of the profit, hence, purchasing more land to plant a majority of the trees. Moreover, 10% of the amount donates to the social causes holding water treatment, nature, etc. The project scope estimation is set to be 22 years. During this time, the company will cover 597 square kilometers.
Other Details To Cover
According to the company, the project is not standalone; Paraguayan government is backing up this project. However, the TREE coins consider as a legal tender. The statement also clarifies that local workforce payments will be above average. Whereas, it says 20% of their wages paid will accomplish in TREE coins transferring directly to their respective e-wallets.
TreeCoin is preparing to partner with local grocery stores providing discounts within 15 to 20% entirely on purchases via TREE coins. The team confronts that this move might not stop the extinction of the rainforest, however, it will surely bring the right example for the overall business world.
What are your thoughts on the new project by Treecoin? Share your thoughts in our comments section.