Rainforest Foundation is a non-profit NGO in New York. It is working in Central and South America. It supports anti-deforestation with crypto and blockchain.
In May 2014, the foundation started developing its cryptocurrency known as BitSeeds. But, it was unsuccessful. After that, they continued to explore different ways to leverage blockchain and crypto. Previously, the discussion on Crypto kitties “Jungle Kitty” which explores simple tokens for direct payments.
Amazon Rainforest is burning very fast, and many communities and organizations are looking for a solution to protect the forests from complete deforestation together. These organizations are planning to protect from climate changes and the entire ecosystem breakdown. They are attempting to prevent the forests from further destruction.
On 4th September 2019, the Rainforest Foundation approached the community of Crypto and Blockchain to support in fighting against deforestation and forest fires in Brazil. According to the post on the foundation’s website, the deforestation in Amazon forest is up to 75%, and recent forest fires have doubled it as compared to the past year. They are working as guardians of the rainforests. They are working with ‘The Giving Block’ to form a union of crypto sponsors, donors, and media partners that can help in stopping of devastation.
They are accepting donations in cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ether (ETH), Bitcoin Cash, and others. Musician Sting is one of the founders of the Rainforest Foundation which is working on a blockchain transparency pilot. It will help the foundation in tracking the donors and give rewards to the people who are protecting the forests with cryptocurrency.
The foundation is in the research of the use of smart contracts. It will stop illegal logging, land trafficking, and guard the forests from gold mining. The executive director of the Rainforest Foundation, Suzanne Pelletier said that this horrific situation motivated them to create innovative solutions. She continued that cryptocurrency users are more innovative than any other user.
It was reported that crypto, as well as blockchain technology, has been rapidly applied to support charitable organizations. A Blockchain company in the Bahamas is asking for the support to the hurricane victims by the communities of Crypto and Blockchain.