Help Nature Help People
Donation protected
I am raising funds to resume a project that a colleague and I started in Papua New Guinea (PNG) in 2016 that was interrupted by Covid-19.
PNG is home to the 3rd largest rainforest in the world after the Amazon and Congo. It is losing these forests to mining and logging that leave its environment damaged and its people and economy poor.
The project seeks to introduce a financial technology alternative to mining and logging that would digitally monetize the wealth represented by PNG’s natural resources, keeping these in the ground to continue their role in sustaining the ecosystems of nature. The wealth in these preserved resources would provide the backing to a digital currency that could support PNG’s people, its economy and its environment.
This new money, which is non-debt and non-inflationary, can be released into the country's economy in various ways, starting with a sustained direct cash support program for people to spend on basic needs such as food, water, children’s schooling and on mobility to seek employment and small business opportunities.
The resulting consumer spending on locally produced food products and basic commodities will stimulate and fund agricultural production and manufacturing industries, boosting the local economy, and raising the country's gross domestic product.
A monthly cash support program will give low-income families respite from financial stresses so that they are able to plan and organize their lives and move forward.
The digital currency’s operating and administrative costs are borne by its 1% circulation fee per transaction, a modest fee by banking standards. Based on the circulation velocity of fiat currencies, an asset-backed currency should more than hold its own in terms of annual circulation and would provide recurring revenues for PNG that could be greater than the one-time royalties it earns from mining and logging, without its environmental consequences.
This alternative to mining and logging can be adopted by any country that has rich natural resources. PNG can serve as model and proof of concept. Other mineral states can participate in assigning their natural resources to provide value to such a universal digital currency that would serve the global common good.
Its global adoption would broaden the scale of natural resource preservation that digital monetization of natural resources seeks to promote. It could provide a steady source of funding for the alleviation of global hunger, malnutrition and poverty, a global shift to green energy alternatives and strong financial support for programs seeking to reverse climate change. These goals are in every country’s wish list but very few countries have the financial means to pursue them.
It just needs one mineral state to sign on, to start it up. Most of the research, validation and development work have been completed. Upon the first assignment by a mineral state of a proven natural resource reserve, a digital currency can be in circulation within nine to twelve months. Your support to this campaign can make this happen.
PNG is home to the 3rd largest rainforest in the world after the Amazon and Congo. It is losing these forests to mining and logging that leave its environment damaged and its people and economy poor.
The project seeks to introduce a financial technology alternative to mining and logging that would digitally monetize the wealth represented by PNG’s natural resources, keeping these in the ground to continue their role in sustaining the ecosystems of nature. The wealth in these preserved resources would provide the backing to a digital currency that could support PNG’s people, its economy and its environment.
This new money, which is non-debt and non-inflationary, can be released into the country's economy in various ways, starting with a sustained direct cash support program for people to spend on basic needs such as food, water, children’s schooling and on mobility to seek employment and small business opportunities.
The resulting consumer spending on locally produced food products and basic commodities will stimulate and fund agricultural production and manufacturing industries, boosting the local economy, and raising the country's gross domestic product.
A monthly cash support program will give low-income families respite from financial stresses so that they are able to plan and organize their lives and move forward.
The digital currency’s operating and administrative costs are borne by its 1% circulation fee per transaction, a modest fee by banking standards. Based on the circulation velocity of fiat currencies, an asset-backed currency should more than hold its own in terms of annual circulation and would provide recurring revenues for PNG that could be greater than the one-time royalties it earns from mining and logging, without its environmental consequences.
This alternative to mining and logging can be adopted by any country that has rich natural resources. PNG can serve as model and proof of concept. Other mineral states can participate in assigning their natural resources to provide value to such a universal digital currency that would serve the global common good.
Its global adoption would broaden the scale of natural resource preservation that digital monetization of natural resources seeks to promote. It could provide a steady source of funding for the alleviation of global hunger, malnutrition and poverty, a global shift to green energy alternatives and strong financial support for programs seeking to reverse climate change. These goals are in every country’s wish list but very few countries have the financial means to pursue them.
It just needs one mineral state to sign on, to start it up. Most of the research, validation and development work have been completed. Upon the first assignment by a mineral state of a proven natural resource reserve, a digital currency can be in circulation within nine to twelve months. Your support to this campaign can make this happen.
Organizer
Charlie Borromeo
Organizer
San Francisco, CA