How One Project Is Going to Save Trees In Paraguay Via Blockchain

A group of German entrepreneurs have come up with a blockchain-based project that aims to help save trees in Paraguay, one of the countries most affected by deforestation.

It offers participants a share in an ambitious reforestation project in Paraguay, where fast-growing eucalyptus trees will be planted in vacant areas 20 percent bigger than the entire city of Paris - and that's just the start.

The token purchaser can decide how many trees they want to plant at the start of the project.

One TREE token is equal to one tree planted at the start of the project and will be worth $23, with all land purchases and management overhead included, the company explains.

The current project's scope is 22 years, and during that period, the TreeCoin team will seek to amass some 597 square kilometres under its management, becoming one of the largest landowners in Paraguay.

According to the company, every TREE security token issued will trigger the emission of 100 TreeCoins, the accompanying payment tokens of the project.

The team says the project has the backing of the Paraguayan government to implant TreeCoins as a legal tender into the local economy of the area where the project will operate.

To incentivize TreeCoins' use, TreeCoin plans to partner with local grocery stores in order to offer discounts between 15 and 20 percent on all purchases made with TreeCoins.

TreeCoin is freely tradeable, so TREE token holders will be able to sell their TreeCoins to the local economy's actors when the project takes root, the company highlights.

The team admits TreeCoin alone will hardly make a noticeable change in the extinction of the rainforest: Even at its maximum capacity, TreeCoin's enterprise will save just about a couple of days worth of lost forests every four years.