Coinprwire

Environmental Sustainability and Carbon Offset with Coorest

By pareesh | Date: 17/05/2023

Amsterdam, Netherlands -- What is Coorest?

Coorest is the first carbon compensation company to have a worldwide certified carbon compensation standard based on blockchain smart contracts and satellite monitoring approved by Earthood - a United Nations-accredited carbon auditor. By utilizing a combination of carbon compensation units, satellite data, and blockchain technology, the company offers products and services that empower farmers and tree planting projects to access new sources of revenue, thereby incentivizing global tree planting efforts, while restoring trust in the voluntary carbon market.

After verifying the validity of the project and achieving huge accomplishments, Coorest announces the next major chapter in their journey: the launch of their governance token, $CRST. Last year, during their private sale, Coorest successfully raised over $500K. Now, for their token launch, the project aims to attract various types of investors, including those from the tech, crypto, and renewable finance (ReFi) sectors to help shape the future of the two growing markets: Web3 and the Carbon Market.

Coorest is dedicated to promoting sustainability and environmental stewardship. Through its NFTrees, $CCO2 tokens, Proof of Carbon Compensation (PoCC), and the Coorest Carbon Standard (CCS), Coorest strives to make a positive impact in the world by making it greener, one tree at a time.

About NFTs and CO2 tokens by Coorest

Coorest's main products today are NFTrees, CO2 tokens and PoCCs (Proof of Carbon Compensation Certificates.

NFTrees: digital representations of real-world trees, containing the project's location and connected to satellite data via Chainlink oracle.

CO2 tokens: trees absorb CO2 and therefore NFTrees generate CO2 tokens in proportion to the amount of CO2 captured by the real tree. Each token represents 1kg of absorbed carbon.

PoCC (Proof of Carbon Compensation): An NFT certificate that proves that a person or business used CO2 tokens to compensate for their carbon footprint. A PoCC is generated when $CCO2 tokens are burned (on-chain retirement), eliminating the possibility of double-counting or double-selling

Coorest has made this possible by developing its own methodology that employs satellite data, which is streamed to the smart contract via Chainlink's decentralized oracles, enabling the creation of CO2 tokens. This process ensures the creation of high-quality offsets while also making carbon tokens traceable, transparent, and accessible.

In addition, Coorest is developing an insurance product in collaboration with Chainlink, Etherisc, and Floodlight. The product will protect farms against wildfires, floods, and storms, enabling reforestation projects to replant lost trees and replace reversed carbon offsets, helping to unlock idling assets and create a more capital-efficient voluntary carbon market ecosystem.

The main goals and mission of the project

Coorest aims to make carbon compensation accessible and transparent, empowering individuals and businesses to offset their CO2 emissions effortlessly. Our mission is to democratize the carbon market, bringing traceability and transparency to the industry while incentivizing global tree planting initiatives.

The Problem:

The current Voluntary Carbon Market (VCM) is challenging to access, lacks transparency, and traceability, and features numerous low-quality carbon compensation projects.

The Solution:

Coorest provides an easy, fast, and transparent carbon compensation solution through the utilization of blockchain technology. Cooret's platform enables everyone, regardless of their location, to instantly offset their CO2 footprint, creating an immutable and traceable record.

By choosing Coorest CO2 compensation, individuals and businesses demonstrate their commitment to the environment, becoming carbon-neutral and contributing to a greener future. Join us in making a positive impact on the planet.