At this gathering of BSGC, we will discuss a proposal to incentivize and track the planting of trees with blockchain technology, and extended possibilities for many other ecological projects.
Wuji Foundation, the philanthropic arm of a Chicago-based startup, hopes to contribute to a global understanding of the immense value of natural resources through the use of emerging technology. Inspired by the World Bank's concept of Natural Capital Accounting (NCA), the organization's primary project is a software system that publicly tracks when and where individuals or groups plant trees. Going further than simple record-keeping, the blockchain system can generate rewards for each tree planted, thereby encouraging sustainability efforts. Planting records are visible for anybody to audit, cannot be altered after entry, and can form the basis for multiple incentive systems set up by different participants.
At BSGC, Stephen Cutter, Wuji's Chief Visionary Officer, will present on the ideas, the tech tech, and the partnerships underpinning this new project. As always, group members are encouraged to scrutinize and question every aspect of the presentation. During this time of intense interest in blockchain technology, it is fundamentally important that we feel empowered to debate the assumptions and mechanisms behind each idea brought forth to our group.