The initiative will seek to take advantage of blockchain technology to help conserve biodiversity in the oceanic country, as well as establishing “biotokens”, adapted to the central needs of cities.
Since the birth of blockchain technology, it has sought to take advantage of its multiple functionalities for different areas of daily life, whether in medicine, finance or education. Its potential has managed to solve many of the communication problems that were previously tedious and heavy to solve.
Some governments and companies have discovered that they can use blockchain technology to transmit encrypted information among their allies, in order to protect valuable data, or create administrative models for almost any area.
Many governments have established study plans for young people who are interested in this technology and want to be trained abroad. Also, said study plans are designed for those who want to form special work or research groups in order to take advantage of the technology in the best way possible.
For this reason, companies such as Commonwealt Bank of Australia have decided to bet on the development of this technology. This institution is also now in the project for environmental protection that is conducted in the country. In this way, the bank will use blockchain technology to establish a market to obtain the token and preserve the ecosystem.
The initiative will have the participation of the Government of New South Wales and the association BioDiversity Solutions Australia (BDS). A virtual market will be established where landowners in Australia will receive a token reward for helping preserve nature. The token will be launched with the platform and its name will be “biotoken”.
Landowners in Australia may offer tokens for sale on the platform, establishing a market to purchase these assets for those who are making efforts to preserve biodiversity. This action will lead to environmental projects, helping to compensate the damage that can be generated to the ecosystem. The idea will be part of the “compensation” policies promulgated by the state government from now.
All transactions could be conducted within the blockchain platform, something that makes the process safe, auditable, transparent and ecological. According to information about the project, it was informed that the creators of the initiative have thought about the expansion of the project and the growth of the market. As an example of this, they commented that the “biotoken” could be obtained by turning cities into more sustainable places, proposing ideas such as building with greener materials in the heart of the city, and similar ideas.
This project would become one of the many ecological initiatives that can take advantage of all the potential of blockchain technology, in order to improve the quality of daily life and the “health” of the planet.
This initiative demonstrates that crypto technologies not only impact the central world of finance, or education, but also helps to make positive changes in areas that seem impossible to imagine changing with the support of this kind of financial technology.
By María Rodríguez