Former FNB CEO Michael Jordaan has invested in Toco, a new global payment platform that enables communities worldwide to directly participate in the fight against climate change.
“This is money 2.0. It can democratise the carbon markets and enable communities to take part in the battle against climate change.”The unit of trade, the toco represents one tonne of carbon dioxide that has been credibly removed from the atmosphere, the founders explain. It is responsible for toco issuance, purchases and custody of the carbon assets. It is mandated to maintain the convertibility of tocos to carbon assets and to responsibly grow the toco supply and expand the voluntary carbon market.
Users can exchange rands for tocos or tocos for rands at the prevailing exchange rates via the Toco app. The first is its ability to scale. Rowett explains: “If you want to build a new transactional economy and unite the billions of citizens who will share it, it is essential that you have a cost-effective global payment system that scales easily. With blockchain, we can turn every mobile phone into a point of sale.”
Pretorius explains this failure to address climate change arises from a classic collective action problem.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TechCentral - 🏆 8. / 71 Read more »
Source: TechCentral - 🏆 8. / 71 Read more »