PlantsMap.com, the premier tool for documenting and mapping plant collections, is launching a blockchain service to enable organizations to raise funding with their tree planting and conservation projects.
Conservation groups, municipalities and community organizations are planting billions of trees to combat climate change. In the United States alone, more than 130 million acres of trees are in urban forests. Those trees have an ecological value estimated at more than $18 billion. The U.S. Senate is currently considering a bill to fund planting 15 billion new trees by 2050.
PlantsMap.com is used to document trees and forests and to record the ecological benefits that they have in a community, city, state or country. These ecological benefits, when expressed monetarily are typically three times the cost of maintaining a tree, but they are rarely recorded on a balance sheet.
Plants Map is creating unique non-fungible tokens on the Ethereum blockchain to represent details about the tree with an estimate of these ecological asset values. Tree tokens can be offered for sale by groups as a new means of fundraising.
Organizations that would like to participate in the beta test of the platform can contact Bill Blevins for more information. Plants Map is also seeking investors to help fund the launch of this new project.
People can buy tokens simply to support their community’s urban forest. Tokens may also be purchased and held until a tree grows and the ecological values of the tree increase, then the tokens could be sold to someone else. Corporations can purchase tokens to demonstrate they purchased the rights to the ecological benefits these trees provide while supporting tree conservation.
Trees capture CO₂, intercept stormwater runoff, and they improve air quality. If trees are near a structure, they save on energy costs as well. Tree tokens represent the estimated ecological benefits.
PlantsMap.com is integrating a calculator to estimate the ecological benefits of a tree. Tree owners can use the estimate as a guide for setting the initial price for their tree tokens. Once priced, the tokens will go on the marketplace and the tree owners will get paid when the tokens are sold.
Once a token is sold it is placed in the new owners digital wallet. As the tree grows and the estimated values change, the token owner can list the token for sale again on the marketplace with a new price. Tokens will be destroyed when a tree dies. As new trees are planted a new token can be generated.
Our development partner and a Plants Map investor, Miratech (https://miratechgroup.com), is a global IT services company with particular expertise in financial technology. We are working on the token marketplace now and will announce our blockchain partner in a couple of weeks. We plan to beta test the platform by creating and selling few thousand trees tokens beginning in November and for the fully integrated marketplace to go live in January.
Since 2014, Plants Map has been creating and selling interactive, mobile-friendly plant tags and signs that connect people and organizations with plants to a robust suite of online tools allowing them to catalog, display and map their collections, record growing notes and share photos and cultivation information using a smartphone, tablet or computer. Organizations use Plants Map interactive plant tags for fundraising today, and the blockchain tree token project is another way to Connect People With Plants™.
Public gardens, universities, individuals, municipalities, corporations, urban farms, urban foresters, landscape companies, garden clubs, national and state parks, plant nurseries and retail garden centers are among our 7,300+ users and customers.