Global Blockchain Land-Trust Framework: Difference between revisions
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access to farmland at reasonable lease rates. | access to farmland at reasonable lease rates. | ||
Terrafina Ltd., a wholly owned subsidiary of the non-profit Terrafina Foundation, | Terrafina Ltd., a wholly owned subsidiary of the non-profit [[Terrafina Foundation]], | ||
will issue a land-backed, stable-value cryptocurrency, that falls | will issue a land-backed, stable-value cryptocurrency, that falls | ||
under the classification as a security under Swiss Financial Market Supervisory | under the classification as a security under Swiss Financial Market Supervisory | ||
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to buy the farmland but instead, will get long-term, affordable land leases | to buy the farmland but instead, will get long-term, affordable land leases | ||
for up to 99 years that are secured in the Global Blockchain Land Registry. | for up to 99 years that are secured in the Global Blockchain Land Registry. | ||
All land within this Framework will be cultivated according to recognized | All land within this Framework will be cultivated according to recognized | ||
organic farming standards (e.g. EU Organic). At a later stage, a blockchain-based | organic farming standards (e.g. EU Organic). At a later stage, a blockchain-based | ||
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[[Category:Post-Corporate]] | [[Category:Post-Corporate]] | ||
[[Category:Movements]] | |||
Revision as of 16:56, 28 October 2018
* White Paper: The Commons 2.0 - A Global Blockchain Land-Trust Framework. Terrafina Foundation, May 2018
URL = https://terrafina.org/assets/pdfs/v0.1.0.4_White-paper_A-global-blockchain-land-trust-framework.pdf
Description
"Sustainable farming holds the potential to mitigate or revert some of the greatest challenges we are facing today, including climate change, food security, loss in biodiversity, social equality and animal welfare. The purpose of this Framework is to enable sustainable, small-scale farmers long-term access to farmland at reasonable lease rates.
Terrafina Ltd., a wholly owned subsidiary of the non-profit Terrafina Foundation, will issue a land-backed, stable-value cryptocurrency, that falls under the classification as a security under Swiss Financial Market Supervisory Authority (FINMA) regulations. Capital raised through issued TerrafinaTokens (TFTs) is invested in Farmland-Stewardship Organizations (FSOs), providing them with the capital to buy large areas of land and securing it for sustainable use. To prevent Farmland-Stewardship Organizations (FSOs) from engaging in speculative land sales practices, Terrafina Foundation will hold a golden share in all FSOs, giving it a veto right on all land sales and changes to the statutes of the FSOs.
With this Framework in place, farmers will not be required to put up capital to buy the farmland but instead, will get long-term, affordable land leases for up to 99 years that are secured in the Global Blockchain Land Registry.
All land within this Framework will be cultivated according to recognized organic farming standards (e.g. EU Organic). At a later stage, a blockchain-based liquid democracy model will allow people to decide on the land-use criteria locally. The liquid voting system enables direct voting on issues or the ability to delegate voting power on specific topics to peers over a secure network without a central authority.
Terrafina Foundation will create a high-granularity Global Blockchain Land Registry that supplements nation-state land registries, ensuring that land ownership records are immutable – not susceptible to theft, corruption, damage or fraud, even by nation-states themselves. All relevant legal documentation and information from the national land registry, official land valuations, land-use criteria as well as all lease contracts shall become a transparent part of the blockchain land registry.
Farmland has consistently proven to be one of the most value-stable assets class. Thus TFT is guaranteed to maintain a stable valuation. All affiliated FSOs will be audited on a regular basis. Independent auditors will assess the net asset value (NAV) of Terrafina Ltd. and its affiliated FSOs based on official land valuations." (https://terrafina.org/assets/pdfs/v0.1.0.4_White-paper_A-global-blockchain-land-trust-framework.pdf)