Commonwealth Bank of Australia (CBA) has
partnered with BioDiversity Solutions Australia (BDS) to develop a prototype biodiversity trading platform using blockchain tokens.
The idea is to provide companies that have signed up to New South Wales’ Biodiversity Offsets Scheme (BOS) with a digital marketplace for buying and selling biodiversity credits, called “BioTokens”. The BOS is part of 2016 local regulations aiming to minimize and offset companies’ negative impact on biodiversity. The objective is sustainable property development.
Landowners that meet the necessary biodiversity requirements will receive BioTokens. These can then be sold to developers who wish to offset their impact on local biodiversity.
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