It was created by three Argentines. Each user who purchases a token will be able to collaborate with the preservation of one m2 of forest or jungle land. How does it work?

Juan José Núñez, Juan Durañona Vedia and Alejandro Carrano are three friends who were concerned about forest preservation. All three are missionaries and one of them had nine hectares in the province and expressed to the others the situation of deforestation that was threatening the forest. Thus, reveals iPropUp, the idea of creating a green cryptocurrency was born.

One of them was engaged in cryptocurrency mining and they decided, as a fundraising strategy, to generate a token that could be backed on the preserved square meter. GBM coin is the digital currency, homologated by Ethereum, whose acquisition, in addition to proposing a stable investment alternative, will help the preservation of the environment. The first thing, was to have a license to operate in cryptoassets and they opted for Estonia, because of its security standards and anti-money laundering rules.

The global alliance GreenBondMeter (GBM) has already begun the process of integral recovery of a 25,000 hectare field in the Paraná rainforest, in Misiones, which was subject to a process of controlled deforestation. This reserve can absorb some 115,000 tons of carbon, which is equivalent to taking 25,000 cars off the road each year.

Each user can purchase a token and contribute to the preservation of one square meter of forest or jungle land, out of a total of 1,000,000 hectares in ten countries around the world. When someone buys a thousand coins, the creators detail, they can choose a thousand meters of land. Although they do not become their property, they are already leased in advance so that the company that is deforesting the land can stop doing so and begin replanting native flora. To be eligible, the land must be 100% private, not occupied by native settlers, be in an area where forest fires occur and have been deforested for at least 20 years.

The acquisition of the crypto-asset will in turn generate a carbon bond (GBM bono), another green investment alternative associated with the project, which proposes to democratize access to the carbon bond market as a sustainable means to protect the planet.

Source: Ámbito