- Andrew plants a tree and earns FC.
- He receives 80% of the minted coins. 20% is shared between:
- 3x crowdsourced approvers
- the user that referred Andrew to Forestcoin
- the node that creates the block
- Andrews’s country donation fund and
- the Forestcoin company
Andrew transfers the FC to exchangeforest.com then sells for BTC or USDT
Andrew withdraws the BTC or USDT
He has just been paid for tree planting
Betty buys the FC in order to use it for buying goods and services
Betty buys a $3.50 coffee from Cathy’s Coffee and pays with FC
Betty feels good that she has used a payment method that monetizes tree planting. Simply by choosing to pay using FC (instead of her credit card) she is doing her part to combat Climate Change
Cathy’s Coffee accepts FC
- Cathy’s Forestcoin app checks the current order book on exchangeforest.com and calculates the amount of FC that Betty needs to pay
- Cathy’s Coffee’s displays QR code showing the amount of FC required
- Betty scans the QR code and pays the FC
- The FC is received by Cathy, then immediately sold for $3.50 of BTC or USDT
- The transaction is completed in seconds.
- Cathy can withdraw the $3.50 of BTC or USDT from exchangeforest.com then cash out to her bank
- The FC has been purchased by another user and is back in circulation ready to be spent in another shop
Cathy’s Coffee shop can claim that they are a brand that cares about the environment by accepting Forestcoin.
Cathy actually received USDT (or BTC) so she can pay her bills, meaning that her investors, her landlord, and accountant are all happy.
Cathy’s marketing team are ecstatic that they can promote the environmental aspects of their coffee shop.
Cathy’s Coffee shop is also displayed in the Forestcoin app as a business that accepts FC. I.e. Users can search “coffee near me”.
The process as described above monetizes tree planting
At a time when scientists from the UN Intergovernmental Panel on Climate Change (IPCC) state that we have just 12 years to limit a climate change catastrophe, monetizing tree planting in order to capture carbon can play a key role in ensuring a habitable planet in the future.
Forestcoin aims to:
- capture the hearts and minds of millions of people that are concerned about climate change, and
- appeal to businesses that want to align their brand with a cryptocurrency that rewards tree planters around the world.