Blockchain startup Set4Earth has launched a new platform which encourages community environmental action and provides funds for social enterprises.
The new eco-friendly marketplace enables users to back eco-friendly ideas, projects and products through a Save Environment Token (SET).
“The aim is to create a community of like-minded people who want to protect the earth for future generations,” said Chief Executive of Set4Earth Ravindran Nambiar.
“Funding and promoting environmentally friendly initiatives has typically been through government bodies. SET puts the responsibility of saving the planet directly into the hands of the community.”
The Save Environment Token goes beyond a cryptocurrency, with one of the benefits being that it is a mechanism to reward users for supporting the planet.
Investors can use their SET coins to hire, for example, bikes and in the process reduce their carbon footprint.
Leading parking operator Multic in Poland has given the green light for users to redeem coins for parking.
Other products include anti-pollution devices such as home and car air purifiers, as well as hydrogen water bottles.
In addition to encouraging environmental action, the platform also promotes eco-friendly products to create an R&D fund for social enterprises.
The project, which began eight months ago, is spearheaded by some of the world’s leading Blockchain experts from the United States, India and Australia all with the aim of creating a greener environment.
“This is a team with unrivalled green credentials. Together, we’ve already set up a range of initiatives from fossil fuel reduction and air purification to waste management and renewable energy products,” said Mr Nambiar.
The platform is open anyone to buy, sell or invest. The current token price is US$0.90 with a total of 45 million tokens on offer.