Biodiversity on OFP: This is the Plan

  • Step 1: Start of the OFP Working Group for Biodiversity Credits (2–3 months). The working group will source perspectives from non-governmental organizations, international agencies, government stakeholders, indigenous communities, and existing climate tech builders. The goal of the working group is to come to an agreement on the criteria for issuing a biodiversity credit on OFP, and the different varieties of biodiversity credits therein.
  • Step 2: Launch of the Biodiversity Vertical (Q2 2023). After successfully developing the criteria for issuing biodiversity credits on OFP, the OFP team will move to build and implement the biodiversity vertical on the platform. This means that conservation projects can be onboard to OFP, validators are given access to data uploads, and biodiversity credits can be issued to the biodiversity projects uploading data onto the protocol.
  • Step 3: Scale up of biodiversity credits on OFP (2023–2030). With a robust and durable biodiversity vertical in the OFP ecosystem, the protocol becomes central to the scaling up of the biodiversity credit market — with fully transparent data and lifecycle information for each project involved. At scale, this market is expected to reach over 500 million dollars in the coming 10 years!
  • Step 4: Begin the Transition to the Biodiversity Bank (2030–2035). With a robust and scaling biodiversity credit ecosystem live on OFP, the macro and final move is to ground biodiversity and conservation land as the basis for a new system of value. This is the end game for biodiversity on OFP.
  • Step 5: Transition fully to making biodiversity the basis of value (2035+). Making biodiversity the new basis of value revolves around transitioning biodiversity credits from being a financial asset, to being the basis of finance (a store of value — a currency itself). This end game centers around the Greenback Biodiversity Bank (GBB) and a long-term plan to ‘flip the switch’ on how we as humans relate to nature and value. This goal is on a multi-decade to centuries long timeframe, and will largely force a new conversation on how we should relate to our environment on a species level.

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Open Forest Protocol

Open Forest Protocol

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Blockchain platform for next generation forest projects. Transparently measure, report, and verify the entire life cycle of trees.