“The Conservation of our remaining forests is one of the most important issues facing our world today.”
Today we witness another world-first. Block Chain Asset Co has announced it is issuing tokens on Bitcoin's distributed platform, the Blockchain. The mission statement is to provide Little Green Tokens (LGT) for “”focusing on the ”Global Social Good.”
Like many companies around the world who have begun to tokenise assets on the Counterparty platform, CCN and bitSIM have turned to http://vennd.io to simplify and automate the distribution process. Vennd, the flagship product of the Sydney-based company, is provided as a service and can be thought of as very similar to a physical vending machine: customers put money in and automatically receive the appropriate Counterparty token in return.
Leon-Gerard Vandenberg, Co-Founder of BitSIM, describes the new joint venture as an effort to peel back the layers of programmes like the UNs REDD, Reducing Emissions from Deforestation and Forest Degradation (REDD) is an effort by the United Nations (UN) to create a financial value for the carbon stored in forests, offering incentives for developing countries to reduce emissions from forested lands and invest in low-carbon paths to sustainable development. "REDD+" goes beyond deforestation and forest degradation, and adds the role of conservation, sustainable management of forests and enhancement of forest carbon stocks.
Vandenberg goes on to clarify how this can be done, “monetize this by wrapping the asset within the Blockchain for Global Distribution”. According to new research (Sept 2014) done by the International Carbon Offset and Reduction Alliance (ICROA), Offsetting one tonne of CO2 emissions brings an additional $664 USD in benefits to the communities where carbon reduction projects are based.