Carbon sequestration project aims to build a green canopy of over one billion trees alongside green blockchain and Smart NFT technology
Young tree in Sri Lanka
Young tree in Sri Lanka
GLASGOW, Scotland, November 05, 2021 (GLOBE NEWSWIRE) – Environmental company SavePlanetEarth (SPE) is implementing its own Carbon Credit Smart Certified NFTs to bolster climate change efforts from a cryptocurrency.
SPE has partnered with various governments and NGOs around the world to tackle climate change, successfully contracting over a billion trees to plant and protect in the Maldives, Sri Lanka and Pakistan. These trees perform the vital task of sequestering carbon dioxide (CO2) naturally, which in turn lowers the level of greenhouse gases in the atmosphere. SPE uses sequestered carbon as certifiable ‘carbon credits’, creating a sustainable business model in the emerging cryptocurrency market. Profits from the sale of these credits can be reinvested in even more carbon sequestration efforts.
In a statement, SPE warned that the effects of climate change have appeared rapidly over the past century, adding that inaction on climate change is often attributed to lack of necessary funding or trapping in bureaucratic processes that prevent it. to reach projects quickly. SPE highlighted the need for new and innovative financing to support strategies to tackle carbon emissions accumulation by directly financing projects and developing innovative financing mechanisms, noting that the emerging crypto market money can help tackle these financing problems and help sequestration processes tackle global warming.
SPE currently owns a cryptocurrency called $ SPE, which was created primarily to be the proprietary currency used in its carbon credit trading. Six months after its creation, SPE has brought together a community of over 80,000 investors. SPE’s adventure in the crypto market is part of a larger goal of creating a green blockchain entirely powered by renewable energy – an initiative currently in development that will have primarily a utilitarian design of carbon offsets. Thanks to the fact that SPE carries out its environmental initiatives in various countries, it earns carbon credits for each tonne of carbon sequestered by its initiatives.
Carbon Consulting Company (CCC) partners with SPE to verify SPE’s certified carbon credits against the Gold Standard, allowing it to be listed in the United Nations Registry. Due to the legitimacy of the SPE project, it will produce the first certified and verifiable carbon credit NFTs (CCNFTs). SPE has decided to partner with the popular native blockchain Phantasma, which has an NFT marketplace. Their eco-friendly portfolio and willingness to reduce their carbon footprint make them a suitable partner and a great option since SPE’s blockchain and carbon credit trading are still in production.
Phantasma is home to carbon neutral Smart NFTs with some of the most advanced NFT capabilities in the industry. The Phantasma blockchain can be used for digital goods and services such as communication, entertainment, chain storage, and in the case of SPE, its green NFT technology and marketplace. As part of its partnership, SPE will verify the carbon neutrality of Phantasma. Thanks to SPE’s own carbon credit NFTs, Phantasma will go even further from an environmental perspective and become carbon negative, making it a green blockchain on which developers can build their decentralized applications.
SPE further intends to strengthen the environmental impact of the crypto sphere, not only through its initiatives, but by launching SPEPad – a launching pad for new cryptocurrency projects related to carbon sequestration. that the SPE team reviewed.
CONTACT: Imran Ali – Founder: [email protected]
WHITE PAPER: https://SavePlanetEarth.io/SPE_WhitePaper.pdf
Image 1: A sapling in Sri Lanka
These distinctive blue nets are used for every tree planted by SavePlanetEarth to protect young trees until they can fend for themselves.
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