Agro-research company Investancia has teamed up with EcoMatcher to track a large-scale reforestation project using its blockchain-enabled digital tree-planting platform.
Over the next 10 years, 50 million Pongamia trees will each receive a unique QR code in Investancia’s tree nursery.
Once the trees are planted, each QR code is scanned with EcoMatcher’s TreeCorder app to register the tree’s GPS location and planting date.
All data will be saved on EcoMatcher blockchain and will produce a detailed, large-scale visualisation of the land Investancia has reforested.
Moreover, Investancia will be able to collect data points including amount of carbon dioxide the trees sequester as well as oilseed yields.
The partnership ensures full transparency of the entire supply chain and life cycle of the pongamia trees, which will be planted in the Paraguayan Chaco - South America’s second largest forest.
The pods from the Pongamia trees are harvested and the beans are crushed to extract the crude oil which is turned into biofuels.
Investancia CEO and Founder, Marcel van Heesewijk said: “The Paraguayan Chaco is one of the most rapidly deforested areas in the world. To combat this threat, Investancia is using cutting edge technology and resources. We are thrilled to partner with EcoMatcher to strengthen our reforestation program and ensure this valuable ecosystem is preserved and protected.”
Through the blockchain technology, Investancia will track the performance of its reforestation projects across 125,000 hectares of degraded cattle land. In 2021 alone, Investancia will reforest more than 2000 hectares of land in the Paraguayan Chaco.
EcoMatcher CEO and founder, Bas Fransen said: “The partnership with Investancia is our first licensing programme of its kind, mapping large-scale reforestation projects and has resulted in some world-first features, like linking trees’ QR codes to location data. Investancia is a fantastic partner to work with.”
Investancia has worked on world-leading research with the pongamia tree, which is used in their reforestation programmes. Native to India and Australia, the trees are adaptive, allowing them to grow on degraded land, flood and drought resilient, yet are non-invasive. The trees also produce pods containing oilseeds that are high in protein and vegetable oil.
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