There is yet another player in the digital currency playground. This time, it is something that might have a broader impact on the world than Bitcoin and its other copycats. Presenting BitSeeds… Currency to protect and restore rainforests. Supported by the Rainforest Foundation, BitSeeds is a cryptocurrency that can be used to do everything that you can do with Bitcoin. Only difference is that BitSeeds generates interest every year, whereas Bitcoin doesn’t.
BitSeeds is developed to address the issue of disappearing rainforests. It has collaborated with Rainforest Foundation, founded by the musician Sting and his wife Trudie Styler over 25 years ago works towards protecting and restoring Amazonian rainforests and its indigenous population. BitSeeds Foundation, with the intention to help Rainforest Foundation plant one billion trees and support indigenous people of rainforests has set aside 100 million bitseeds in a special wallet. The interest generated by these coins will go to Rainforest Foundation. BitSeeds Foundation, a non-profit arm of BitSeeds will be the custodian of these 100 million bitseeds, which is 10 percent of the total 1 billion bitseeds slated to be mined over the cryptocurrency’s lifetime.
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The initiative, which has now started to gain traction, was started over a year ago after BitSeeds approached the Rainforest Foundation. BitSeeds is currently working with Coin.co, a New York based payment processor who is also a supporter of this initiative to build a strong merchant network who will accept bitseeds.
BitSeeds is working towards counteracting the damage caused by incessant deforestation of rainforests on the environment and lives of thousands of indigenous people whose whole life and livelihood is dependent on these rainforests. There is always a question of how successful BitSeeds is going to be, but they seem to have had a good start so far, with their hearts in the right place.