Why did we choose blockchain to run TreeCoin?
What is the TreeCoin project?
TreeCoin is a project that aims to plant over 10 million trees in Paraguay during its initial stage of the plantation, covering more than 12,000 hectares of land in the process. TreeCoin will formulate a sustainable timber production model, thereby preventing any exploitation of the natural resources of Paraguay.
What is different about us?
We’re going to use Blockchain Technology to monitor our entire operations. It’ll include the launch and distribution of TREE and Treecoin (TXC) tokens, dividend distributions to the shareholders, running an online shop powered by blockchain technology, and facilitating the trading of TREE and TXC tokens on decentralized exchanges.
Why did we choose blockchain technology?
Global acceptance as a potential solution for environmental challenges
A recent report from the World Economic Forum, Building Block(chain)s for a Better Planet, indicates that blockchain technology can play a crucial role in developing the next-generation sustainability monitoring protocols, along with being an enabler in real-time reporting and verification models. Another association, Blockchain for Climate Foundation, is planning to put the entire Paris Agreement over the blockchain. Additionally, the foundation plans to create a global platform for national carbon accounts using blockchain technology, thereby enhancing transparency in monitoring national efforts towards environmental protection.
Accountability, transparency, and easier management
Blockchain technology is built on the principles of accountability and transparency. Its power lies in its open structure and its ability to self-regulate through the contribution of its network. TreeCoin intends to leverage these characteristics for its project, giving its shareholders a clear view of the progress and production carried out by the company.
In terms of management, blockchain makes it simple to manage large operations. TreeCoin plans to use the technology in different capacities, starting with the creation of its security and utility tokens on it. Going forward, TreeCoin will process shareholder dividends over the platform, making the entire process cost-efficient and quick. Since the technology permanently records all the transactions, it will help TreeCoin stick to the highest standards of accountability.
Other use cases for blockchain technology
- P2P Energy Trading: Blockchain facilitates peer-to-peer transactions, making it an ideal platform for P2P energy trading. Projects such as Power2Peer and Power Ledger are already working on similar concepts.
- Tracking Donations: Blockchain technology can make it simple to track donations meant for environmental conservation. One can easily track how and where their donations are being used.
- Digital Carbon Credits/Tax Management: It is possible to issue digital tokens based on carbon credits through blockchain technology. It will open the carbon credits market and reduce the scope of fraud or illicit practices in the sector.
- Tracking Recycling Processes: Implementing blockchain technology to track recycling will allow end-users to find the history of a plastic bottle. Furthermore, it is possible to incentivize recycling by rewarding people with tokens against their efforts towards recycling activities.
Being a blockchain-pioneer
At TreeCoin, our goal is not only to develop a sustainable timber production model, but we strive to create a scalable solution that can be easily adopted by our peers and other environment protection/conservation enterprises.
Are you interested in finding out more about our project? Click here to see how TreeCoin is reforesting over 12,000 hectares of land under its initiative.
Originally published at https://tree-coin.io on August 5, 2019.
