ZUG, Aug. 3, 2023 /PRNewswire/ -- Regenerative Finance (ReFi) blockchain pioneer, KYOTO, has planted 1 million mangrove trees along the coastlines of Kirepwe, Diani and Shimoni in Kenya and Kigamboni in Tanzania, creating 80 new jobs for local communities in the process.
The initiative, which completed in July, ahead of the blockchain's highly-anticipated launch, is a demonstration of KYOTO's ongoing commitment to making a positive impact on the environment. Carbon negative by design, KYOTO is the first to contribute 25% of each transactional gas fee, to offset carbon emissions via reforestation.
Over 300,000 tonnes of carbon sequestered before 2075
Mangroves act as nature's coastal superheroes, maintaining the ecological balance of our planet. Incredibly simple to plant, they absorb and store atmospheric carbon dioxide, one of the primary contributors to global warming. KYOTO's pledge is expected to sequester around 308,000 tonnes of carbon before 2075.
Planted around a foot apart, the trees will span 28 acres of land. Meanwhile, the team has ensured the maximization of life by only planting within 2 meters of a mother tree whilst factoring in a buffer of 20% extra plants. The project is also harnessing AI technology to record each tree that is planted.
Co-founder of KYOTO, Frank Morey said:
"This project is a powerful statement of intent, for what we want to achieve in terms of preserving our planet, along with our dedication to the ReFi movement and helping other projects to embark on new ventures that will make the world a better place.
"Not only does a significant portion of our transaction fees go directly towards creating a positive impact on the environment around us, those who decide to build on our blockchain are selecting a cost-effective network upon which the fees are 100 times less than the likes of Ethereum.
"We had already planted around 30,000 trees, via our other ecosystem projects and burgeoning community. Achieving this new milestone, is a flag in the ground for our ultimate goal to plant a tree for every person on the planet."
Planting mangrove trees involves careful selection of ideal coastal locations, ensuring optimal growth conditions and maximum ecological impact. Through a collaborative effort with local communities and environmental organizations, KYOTO has been overseeing the implementation of sustainable planting techniques that respect and restore this delicate coastal ecosystem.
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