Today the Celo blockchain announced the Climate Collective to tokenize rainforests and other similar assets. Over the next four years, it’s proposing to invest as much as 40% of the Celo reserve, which underpins the Celo dollar and Euro stablecoins in tokenized rainforests.
Celo’s cryptocurrency has some high profile investors. Apart from Andreessen Horowitz, Deutsche Telekom bought some tokens, as did PayU, the payment provider controlled by Naspers.
“Crucially, backing money with rainforest is significantly more capital efficient than seeking donations to plant rainforest. While these efforts are commendable, we believe that it is significantly harder to raise and deploy billions of dollars for planting trees than to encourage people to transact with a currency that is backed by natural capital,” says Celo in a statement.
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