To use enterprise blockchain to develop an environmental platform using tokenization for companies going into the carbon credit market, which supports the biodiversity and elephant population in Gabon, Africa, but will soon support a variety of keystone species.
Enterprise blockchain development based on Corda Enterprise Distributed Ledger Technology.
A global ecosystems tokenisation platform for supporting biodiversity, enabling companies to go into the carbon credit market and manage ESG investment portfolios.
Environmental, Social, and Governance
Rebalance Earth aims to the preservation of biodiversity and keystone species whose way of life and interaction with the forest have a significant impact on capturing carbon and recovering ecological robustness. The challenge is way bigger than the one technology solution.
Approaching the need for a unified solution to help Rebalance Earth’s conservation capabilities, we dedicated our best minds to finding the best approach to develop the tokenisation platform satisfying the needs of Rebalance Earth and endangered animals and communities without compromising any of them.
The SolutionThe Concept
Rebalance Earth aims to create a circular economy in which elephants’ or other keystone species carbon capture and sequestration capabilities can be offered by tokenisation to businesses looking to reduce their carbon impact.
Challenging us to support animal populations and discussing tokenisation into the platform, blockchain was the natural way to go. We used the enterprise blockchain protocol Corda to develop an ecosystem environmental MVP platform for Rebalance Earth by which companies enter the offsetting market.
The platform is split into Eco and Currency tokens - Eco tokens are sold to companies and businesses. Currency tokens are given to rangers and other members of local communities in order to foster new employment opportunities, increase salaries, and maintain and build infrastructure that ensures the elephants’ safety. This provides an incentive for everyone responsible to continue caring for the ecosystem and the species’ health.
This is all possible because of the tokenisation of carbon captures and the use of smart contracts. Each elephant or other animal kind is tracked, and its contribution to biodiversity is estimated using a mix of IoT sensors and AI (both are outside of the scope of the MVP project delivered by INDUSTRIA).
When Rebalance Earth observes that an elephant is in good health, INDUSTRIA’s platform makes a token. Each token costs a transparently calculated amount for any corporation that wishes to enter the ESG investment market and acquire tokens through the platform.
Elephant-recorded sightings by Rebalance Earth also produce Currency Tokens used by the platform to pay rangers and others responsible for the elephants’ health and safety. Currency Tokens are also given to members of local communities, including paying for education and social support.
During the development process of the Rebalance Earth MVP platform, our team used the latest versions and trends in enterprise blockchain development. We developed the MVP using R3’s Corda protocol and then continued the execution of the project with Django, which, combined with our developers’ expertise, delivered outstanding results.
Together with Rebalance Earth, we are working on transforming carbon emissions into credit for the business whilst improving local communities and saving keystone species.
As a result, the MVP ecological platform ensures that:
- The interface is functional, well structured, logically organised and easy to use for all different partners
- Eco and Currency tokens are easily distributable
- Different keystone species are easily added
- The endangered species and communities are supported
As the next steps, INDUSTRIA and Rebalance Earth are planning to scale up and include a lot more keystone species than elephants, such as orangutans and whales. This offers the possibility of a significantly more diversified portfolio that can now include environmental stock.
Today we have a market for a dead nature, but we do not have one for living nature. What does that say about our values as a society? We value nature only when it’s dead and for me, that is simply unacceptable.
The very first thing that we discussed with the Rebalance Earth team was full transparency. The rangers, the community, and everyone that is in touch with the real elephants, they could see - in real-time - all the different actions that are taking place and that they can trust this platform.
ESG is a chance for the business sector to expand their investment portfolio all the while preserving the planet and supporting local communities. It’s an immense pleasure working alongside the Rebalance team.
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