Did you know that an elephant’s tusks are worth $40,000? Yet according to the IMF, an elephant will directly and indirectly perform $1.75m of carbon capture and carbon sequestration services within its 60 years lifespan.
Today we have a market for nature when it's dead, but we don’t have one for the living services they perform to the benefit of all.
The global carbon offsetting market is worth between $40 billion and $120 billion. This market lacks transparency and traceability.
Walid Al Saqqaf, CEO of Insureblocks along with Ralph Chami from the IMF, and Ian Redmond, famous conservationist and wildlife consultant are working on another way. Their vision is to build a resilient, equitable and sustainable economy underpinned by supporting a regenerative nature that empowers local communities. Our solution is built on a robust, transparent, traceable and trusted carbon exchange platform.
Together, they aim to launch a pilot in 2021 for enterprises to offset their carbon emissions to living assets such as African Forest Elephants. $1.75m per elephant over 60 years is roughly $80 / day which will be used to provide full-time jobs to members of local communities directly protecting the critically endangered elephants, and to provide micro-investments to help raise the communities living standards.
Meet Walid Al Saqqaf:
Walid is passionate about blockchain technology and how it can become this foundational platform to not only connect enterprises within an industry but also across industries. He has a background in building startups mainly in the B2C space and have worked in both the fintech and insurtech space.
He is now the founder of Insureblocks, the leading educational podcast on blockchain and smart contracts. He talks to some of the biggest names around the world to discuss their blockchain challenges and implementation.
Walid speaks at conferences internationally and advise a select number of clients on their blockchain opportunities.
Connect with Walid