An entrepreneur in Peru is using blockchain to create a new initiative that will make biodiversity conservation profitable in the region. He also plans to build a boutique hotel designed by IBUKU, reports Gestion.pe.
Rafael Benavides is transforming 20,000 hectares of property situated in one of the few unprotected parts of the rainforest near Tarapoto. The project is called Bosque Guardian and it aims to preserve the forests near Tarapoto and provide a condominium of cabins around a boutique hotel specializing in nature, conservation, and research.
The foundation is launching a cryptocurrency to pioneer a new way to raise funds transparently and encourage reforestation.
"We are in the process of completing our partnership with Chainzilla and Komodo Platform, which is based on Bitcoin. This means that Bosque Guardian is going to issue a token called Guardian Coin,” said Benavides.
With this, they will raise funds to buy the remaining of the land in the buffer zone and incorporate it into the private conservation area. The idea is to issue 20,000,000 Guardian Coins with a value of $1 to be sold in stages. Participants will be able to spend Guardian coin at all of the facilities, and even spend them to get drone footage of any sector of the project.
He added that they are working with the Ibuku architects' studio in Bali, which he described as one of the best studies in architecture with bamboo in the world. The project will be located in the buffer zone of the Escalera Mountain Range (first conservation of the country), 45 minutes from Tarapoto airport.
Benavides explained the primary objective of the project is not to make a huge profit but to protect the trees that have not been cut down through a series of sustainable business models that could be replicated throughout the region. Ideas could include a variety of revenue streams, education of the locals, scientific research renewable energy workshops, and a strong reforestation program.
For his part, Charles Gonzales, CEO of Chainzilla commented, "Incubating new markets is a priority and we have to think outside the box when it comes to conservation because it has become a stale subject. There is a misconception about it being solely non-profit. Bosque Guardian is pioneering a sustainable model of conservation that gets us one step closer to making biodiversity conservation profitable."
Benavides said he understands the potential of using distributed blockchains to provide a transparent model of fundraising to acquire more land for conservation. He wants to implement blockchain systems in Peru to expand and leverage the power of digital currencies, including decentralization and liquidity.
“Currently, the forests are at the whims of government funding which is minimal and it doesn’t encourage the people living on the land to keep the trees standing,” a separate article published on Medium stated.