There was a lot of damage to our environment putting it at stake. On the other hand, deforestation proceeds 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 in Paraguay as it is one of the worst countries affecting deforestation.
TreeCoin using Blockchain Tech
TreeCoin is basically a blockchain project that contains the motto to stop deforestation. They are preparing to allow participants to share an ambitious reforestation project. The recent new project decides to plant eucalyptus trees through most of the free areas with a minimum of 20% more than in Paris.
The company expects to generate a profit by selling valuable eucalyptus timber possible for four years. In advance, planning to protect trees from felling. The earnings profit will then be reinvested to purchase additional land for growing more trees. This cycle will continue until the goal is reached.
A group of German businessmen supported by Mr. Green and Mr. Jorg Schafer exposes this new project to BlockShow Asia.
The idea behind this project
The company explains that TREE is a security token that the Swiss jurisdiction will provide for issuance. In addition, the buyer of a token can decide the number of trees he is willing to start with. Suppose that a TREE token is equal to the planting of a tree that exceeds $ 23. In addition, this includes all overheads and land purchases.
TreeCoin decides to invest 50% of the profit, therefore, buying more land to plant the majority of trees. In addition, 10% of the amount is donated to the social causes that treat the treatment of water, nature, etc. The estimate of the project scope is set at 22 years. During this period, the company will cover 597 square kilometers.
More details to cover
According to the company, the project is not independent; The Paraguayan government is supporting this project. However, TREE coins consider a legal tender. The statement also clarifies that local labor force payments will be above average. Considering that, 20% of their paid wages will be realized in the TREE coins by transferring them directly to their electronic portfolios.
TreeCoin is getting ready to collaborate with local grocery stores that offer 15 to 20% discounts entirely on purchases through TREE coins. The team is faced with the fact that this move may not stop the rainforest extinction, however, it will certainly bring the right example to the business world in general.
What are your opinions on the new Treecoin project? Share your thoughts in our comments section.
Was this post helpful?
Let us know if you liked the post. This is the only way we can improve.