THE ECO COIN IS A BOTTOM UP SOLUTION THAT POSITIVELY REWARDS HUMANS ANYWHERE ACTIVELY CONTRIBUTING TO A MORE SUSTAINABLE WORLD
Koert van Mensvoort
Our economy and ecology are out of balance. As businesses are forced to grow and make profit, our environment has come under increasing threat. The forest only starts to have value within our economic system when it is cut down and turned into a raw material. No one pays for the incredible services of the environment: it provides medicines, food, habitats and trees that filter the air to let us breath. It is seen as a business externality. Free to use.
There are bureaucratic ideas to value the forest but they have faults. Some want to put a price tag on the environment turning it into a commodity, and carbon trading moves the problem elsewhere. Currently, there is no positive economic incentive to grow the forest.
A SOLUTION: ECO COINS
Today we express our values through money. But this invisible technology needs an update. Our euros and dollars only define economic value. What if there was a new currency that could express more? The ECO coin is a currency with economic and ecological value.
Imagine, a community wants to encourage people to ride bikes and decides to reward all bike riders with 5 ECO coins that can be spent at the local market. It’s a community led solution that can organically grow anywhere. In the future the ECO coin will use blockchain technology. This will make it scalable, decentralized and as fair as possible. The goal is to value and reward environmental action. This is how we can better connect economy and ecology.
ECO COIN ROAD MAP
ECO COIN AWARD
Every year the ECO coin team search the globe for people and projects that have outstandingly contributed to making our planet a more sustainable place and honor them with the ECO Coin Award. The winners have ranged from those sharing knowledge of sustainable agricultural techniques, to others building open source machines to recycle plastic. The awarded projects are often bottom-up and community-led solutions, just like the ECO coin.
At this stage of the currency, we seek to trial the ECO coin within a community. This will help us test the idea on a local scale to analyze its strengths, weaknesses and adaptation potential, so that any community can use the ECO coin in the future. Festivals and events are great opportunities to test the currency, as multi day festivals tend to work like small cities: there is camping, food, energy, water and products to buy, all in one space.
From the community level experiments we run, we can then join up the different people using the ECO and form an international network. This will strengthen the coin by making it more widely accepted and more useful to those using the currency. The ECO coin broader application will require a strong and secure digital platform to work on.
From the international network, it is then logical to step into the world of cryptocurrencies. This has several benefits, one of the most important is that it will make the ECO coin decentralized as a currency. This means no “central bank”. The technology that underpins cryptocurrencies, the blockchain, can also be used to help devolve power and governance to the users of the ECO coin. For example, it is possible to vote using blockchain, review others using the coin or merchants. Making the ECO coin a cryptocurrency will scale it to a global size so that anyone with an Internet connection should be able to both earn and spend ECOs.
Creator of the ECO coin, Next Nature Network leads on the design and strategy behind the project. The NNN team contributes design time, handles communication and is ever present onsite for the implementation of the system.
As one of the leading consultancy firms in the world, Deloitte brings strategic insight and technological knowhow to the group. They can also help to deliver your technology of choice to events.
Bitonic has been active since May 2012 and has since sold over 200,000 bitcoins. Bitonic brings its expertise on blockchain technology, digital wallets and cryptocurrencies to the ECO coin partnership.
DGTL aims to be the most sustainable music festival possible, attracting over 40,000 people to the NDSM-werf in Amsterdam. They provide the space and the community to run the first community trial of the ECO coin.