The numerous use cases of cryptocurrencies have been well-documented over the years. One particular venture few people expected to see was a correlation between cryptocurrency and animal preservation. Rhino Coin is doing exactly that and in a rather interesting fashion.
The Rhino Coin Initiative
In the world of cryptocurrency, animal-themed currencies are nothing new. With the likes of Dogecoin, Catcoin, NyanCoin, Pandacoin, and so forth all coming and going, it almost seemed this trend was coming to an end. Rhino Coin is a remarkable addition to this list, mainly because it serves a very specific purpose. This new effort is designed to help preserve and conserve rhinos, one of the many animal species on the verge of extinction.
The goal of this initiative is to actively contribute to the Rhino Coin Foundation. That foundation will both fund and aid conservation efforts. As one would expect, safeguarding the rhino population has become a very costly manner as there are significant costs for sustaining and maintaining the population as we speak.
The Rhino Coin Foundation has some key members on board, such as Dr. Johan Marais, a well-respected veterinarian. In his opinion, close to 1,000 rhinos have been lost to poaching each of the last five years, which is one of the biggest threats to the species’ survival as of today. If this trend keeps up, the entire rhinoceros population will go extinct fairly soon.
Can This New Coin Make an Impact?
The obvious first question is whether or not this venture needs its own cryptocurrency. For the Rhino Con Foundation, it seems that was the best course of action. Offering a cryptocurrency with a conscience is certainly different from most efforts which have come before it. Blockchain technology can also play its role in the preservation of the rhino population by facilitating services.
One of the founding members of the Rhino Coin, Alexander Wilcocks, says:
Rhino Coin is crypto conservation, which means its cryptocurrency with a conscience. We combine the transparency and security of blockchain with the social responsibility of conservation.
Every Rhino Coin is backed by one gram of legal rhino horn. A percentage of every coin sold is given to the foundation. Said money can then be put toward various conservation efforts. Additionally, the foundation aims to discourage the illegal trade of rhino materials, such as their horn. This will, in turn, benefit the local communities living near groups of rhinos.
This venture is another example of how cryptocurrencies can change the world. While Rhino Coin is a very specific project, it also tries to convey a message. Something needs to be done to save the animal species on this planet. Perhaps with cryptocurrency, that change can finally be enforced in a meaningful manner.
What do you think about creating a cryptocurrency to help conservation? Let us know in the comments below.
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