Decentralized Surveillance System
To broaden the scope of entities able to participate in the ReFi space, at this stage we start crowdfunding. The crowdfunding campaigns will allow any entity that would like to carry out a regenerative action to propose the action they would like to have crowdfunded, how they would measure and verify that the action has occurred and the cost to them to implement that action. A polygon of where the action would occur is uploaded by that entity. This polygon is plugged into Restor.Eco to show the potential benefits from implementing that action. If our repository doesn't have methods that are able to be used with the regenerative action, the organization can contact us and we will help them to develop something new. This repository will be constantly updated to keep up with the most scientific process for the measurement and verification of actions as well as the additional benefits from them.
Once that information collected, a profile is created. When donors want to fund the action, they click the fund button and pay in either fiat or crypto. They then choose an NFT they would like to have associated with their donation (layered) from their collection (enabling liquidity for their NFT). The data collected enables tokens to be minted to that NFT layer.
A part of the revenue sources goes towards creating a quadratic funding matching pool for different regenerative actions. The actions, types, etc. to match the funds channeled towards are decided by our community. As donations to the crowdfunding campaign occur the quadratic funding pool is utilized to encourage funding of actions that funders support. The funding channeled to the action from the quadratic funding pool is given the same rewards, NFT layer, as the funders receive. These NFTs are managed by the community and are able to be transferred (sold) through their decisions. Detailed example of how quadratic funding works is from Gitcoin and https://wtfisqf.com/
Prioritization of actions will be heavily informed by the latest scientific reports and studies. Examples of tools/ studies we will use are from the Natural Capital Project and the Global Safety Net. An example scientific report is here. Our community will also work on creating its own tools and work with community members in the creation of them. We will prioritize areas that create equity; in gender, racial, ethnic. etc.
Once the crowdfunding amount is reached, 100% of that funding gets channeled to the entity to enact the regenerative activity. NFT layers are distributed proportionally as receipts of the funding. For example, if it costs an entity 100 dollars to plant 100 trees and a funder donates 1 dollar, they would receive an NFT layer with a record of 1 tree promised to be planted in it. This NFT layer will be dynamically updated over time as the regenerative action is confirmed to have taken place and the benefits from it are measured and verified.
This surveillance system collects data via satellite imagery, IOT devices and georeferenced imagery from boots on the ground about regenerative actions. Various organizations work together to collect this data. Once the data is collected it is analyzed, this analysis measures and verifies that the regenerative action has taken place as well as the benefits from the regenerative action.
After the regenerative action has been measured and verified that it has occurred, benefits start accumulating. Each time a benefit from that regenerative action is measured and verified, there is a token minted. Examples of such tokens are air, water, soil tokens; such as 10 carbon ton tokens produced from 10 tons of carbon being measured and verified to have been sequestered. These tokens are then channeled into the NFT.
Data collection and analysis takes financial capital. For each of the regenerative actions that the surveillance system measures and verifies, the decentralized community (data collectors and analyzers) ties a financial cost to measure and verify that action as well as the benefits from it. Along with that the entity that implements the regenerative action specifies a yearly upkeep cost. The total cost then mandates the amount of yield generating tokens needed to be layered into the NFT to accumulate benefit tokens (such as the 10 carbon ton tokens above).
We pay for the data collected and the methodologies used for analysis, all methodologies used are open source. By community members layering yield generating tokens into their NFT to accumulate benefit tokens, they gain partial ownership of the data and potentially methodologies. This means that if the data collected is used for other purposes (such as parametric insurance, reporting, etc.), then that community member gains financial rewards from that data use. Along with that a percent of the funds go towards methodology creation. When the funder helps to fund a new methodology used for analysis, they gain partial ownership of that methodology into the future. That means that each time that methodology is paid to be used, that community member gains financially.
Our Community will vote upon the methodologies for interpreting data as well as the quality of data being used for interpretation. As long as the community agrees that the methodology used conforms to community standards and the data used is of sufficient quality the action is verified. Our community does not vote on the outputs from the interpretation of the data (for example the amount of carbon sequestered). There will be a community score as to how confident they are in the methodology and data in its accuracy as well as an accuracy score. Our community verifies the work the implementing organizations do through various criteria. The qualification criteria are subject to change based upon community ruling. Verified: The organization is inspected and verified by the community and its actions have been measured and verified to have occurred Prolonged Effects: The work that the implementing organization does will continue to impact the environmental quality and quantity in the area of implementation into the distant future Additional: Wouldn’t have happened without human (organizational) support
Below is the Map of Organizations Working on the Decentralized Surveillance System
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