FINTERRA GLOBAL PLANTATIONS DEVELOPS TREEBANKING BLOCKCHAIN SOLUTION
Tree tracking on blockchain is a technology that is used to enhance transparency and sustainability efforts in various industries such as forestry, agriculture, and environmental conservation. In short, such blockchain-based solutions aim to track and verify the sustainability of forestry and tree planting projects while also helping to combat climate change by promoting the planting of trees.
Using blockchain technology, plantations and other similar projects can create a transparent and immutable record of every tree planted, harvested, and sold, making it easier to monitor the environmental impact of forestry activities. Furthermore, tokens can be issued for every tree planted and verified, and can be traded on cryptocurrency exchanges, enabling users of the blockchain to invest and support sustainable forestry projects.
Below are some ways in which blockchain can be used for tree tracking:
1. Certification: Blockchain can be used to create a digital certificate for each tree, indicating its sustainability and ethical sourcing. This can be particularly useful for businesses that want to demonstrate their commitment to environmental and social responsibility.
2. Verification: Blockchain can enable third-party verification of sustainability claims, allowing consumers and stakeholders to verify the authenticity of a product’s sustainability claims.
3. Rewards: Blockchain can facilitate the creation of reward systems for sustainable practices, such as paying farmers or landowners for planting and maintaining trees.
Tree tracking on blockchain provides an auditable and transparent record of sustainability efforts, which can help improve accountability and drive positive change in industries that rely on natural resources.
Finterra Global Plantations blockchain-based solution has been created to enable users to invest in and support sustainable its forestry projects and making them scalable commercially. The platform tracks the lifecycle of its trees from planting to harvesting and allows users to verify the sustainability of the projects once they invest. By purchasing digital tokens that represent trees, investors can generate wealth by trading them on a decentralized exchange.
Overall, blockchain-based tree tracking platforms can help to promote sustainability by providing transparency and accountability in the supply chain. By enabling consumers to make more informed decisions about the products they purchase, these platforms can also help to drive demand for sustainably produced goods.