Making Nature the New Gold
We need to start valuing and monetizing nature for more than just raw material. Today, the only way for a landowner to earn money is by selling raw materials – cutting down forests for timber, or digging up wetlands for peat. But nature is so much more than raw materials. However, we’re not used to paying for any of the ecosystem services that we consume every single day – including air, water, and food.
Up until now we haven’t been able to quantify the different ecosystem services that nature provides us. However, now that we have the enabling technology – like satellite data to monitor nature, and blockchain to build and verify financial systems – we can monetize ecosystem services and connect them with the economy. For the first time in history, we’re able to create a currency based on the work nature does – the world’s first nature-backed money.
Digital twins are virtual representations of objects or processes from the physical world. Single.Earth’s Digital Twin reflects the state of nature as accurately as possible, including essential parameters such as carbon removal and storage, water purification, and biodiversity. It’s built to represent nature’s features and monitor them in real-time.By using blockchain technology, we can connect money with nature’s ability to sustain life and issue tokens.
Merit Valdsalu is the CEO and cofounder of Single.Earth. She was one of the early employees at Pipedrive as the Head of Localization and is now combining two of her biggest passions – innovative tech and the environment – at Single.Earth.