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Revolutionizing Ownership: Hemp-Based NFTs

The Future of Ownership is Here
The ownership of assets has always been a crucial aspect of human society. With technological advancements, the concept of ownership has shifted to digital assets. Digital ownership has revolutionized the way we own, trade, and store assets. Non-Fungible Tokens or NFTs have emerged as a revolutionary technology that brings a new dimension to digital ownership. One of the latest iterations of NFTs is hemp-based NFTs, which have the potential to revolutionize digital ownership in a sustainable and eco-friendly way.

The Rise of Non-Fungible Tokens (NFTs)

Non-fungible tokens are digital assets that are unique and cannot be replicated or divided. NFTs are created using blockchain technology, which makes them decentralized, transparent, and secure. NFTs are becoming increasingly popular in the art world, where they are used to authenticate and sell digital art. The unique nature of NFTs has made them valuable and collectible, with some NFTs fetching millions of dollars in auctions.

The Benefits of Hemp-Based NFTs

Hemp-based NFTs are a new type of NFT that is created using hemp-based smart contracts. Hemp-based smart contracts are eco-friendly and sustainable, making them an ideal alternative to traditional NFTs that consume vast amounts of energy. Hemp-based NFTs also offer a unique opportunity to support the hemp industry, which has numerous environmental and economic benefits. Hemp-based NFTs can be used for various purposes, including art, music, and gaming.

The Environmental Impact of Hemp-Based NFTs

Traditional NFTs have come under scrutiny for their massive carbon footprint. The energy consumed by the blockchain networks that create NFTs is enormous and unsustainable. Hemp-based NFTs offer a sustainable and eco-friendly alternative to traditional NFTs. Hemp is a renewable resource that can be grown without pesticides or herbicides. Hemp-based smart contracts require minimal energy, making them an ideal solution for those concerned about the environment.

Hemp-Based NFTs and the Art World

The art world has been quick to adopt NFTs as a means of authentication and sale of digital art. Hemp-based NFTs offer a unique opportunity to combine art and sustainability. Hemp-based NFTs can be used to authenticate digital art while supporting the hemp industry. The use of hemp-based NFTs in the art world can also raise awareness about the environmental benefits of hemp as a sustainable resource.

Legal Considerations of Hemp-Based NFTs

As with any new technology, there are legal considerations for hemp-based NFTs. The legality of hemp-based NFTs depends on the regulatory framework of each jurisdiction. Hemp-based NFTs must comply with local laws and regulations to ensure that they are legally binding. Additionally, the use of hemp-based NFTs in the art world may require additional legal considerations, such as intellectual property rights and copyright law.

Investing in Hemp-Based NFTs: Opportunities and Risks

Investing in hemp-based NFTs can be a high-risk, high-reward proposition. As with any investment, there are opportunities and risks associated with hemp-based NFTs. The value of hemp-based NFTs can be volatile, with prices fluctuating based on demand and supply. Investors must conduct due diligence before investing in hemp-based NFTs to mitigate risks.

Embracing the Revolution of Ownership
Hemp-based NFTs offer a new dimension to digital ownership in a sustainable and eco-friendly way. The rise of NFTs has revolutionized the way we own and trade digital assets, and hemp-based NFTs offer an opportunity to move towards sustainable ownership. The use of hemp-based NFTs in the art world can also raise awareness about the environmental benefits of hemp. While there are legal and investment considerations, hemp-based NFTs offer a unique opportunity to embrace the revolution of ownership.

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Why do World Heritage forests🌳release more carbon than they absorb?

  • Published on November 10, 2022
UNESCO

UNESCO

The first ever scientific assessment of the amounts of greenhouse gases emitted from and absorbed by forests in UNESCO World Heritage sites has found that forests in World Heritage sites play a vital role in mitigating climate change by absorbing 190 million tons of CO2 from the atmosphere each year. However, ten forests released more carbon than they sequestered due to pressure from human activity and climate change, which is alarming.

World Heritage forests absorb 190m tons of CO2 each year

By combining satellite-derived data with monitoring information at the site level, researchers at UNESCO, World Resources Institute (WRI) and the International Union for Conservation of Nature (IUCN) were able to estimate the gross and net carbon absorbed and emitted by UNESCO World Heritage forests between 2001 and 2020 and determine the causes of some emissions. 

The research found that, as a whole, UNESCO World Heritage forests in 257 separate sites, absorbed the equivalent of approximately 190 million tons of CO2 from the atmosphere each year, comparable to roughly half the United Kingdom’s annual CO2 emissions from fossil fuels.

We now have the most detailed picture to date of the vital role that forests in World Heritage sites play in mitigating climate change.

Tales Carvalho Resende, UNESCO World Heritage Centre, co-author of the report



 

World Heritage forests, whose combined area of 69 million hectares is roughly twice the size of Germany, are biodiversity-rich ecosystems. In addition to absorbing CO2 from the atmosphere they also store substantial amounts of carbon. Carbon sequestration by these forests over long periods has led to total carbon storage of approximately 13 billion tons of carbon, which is more than the carbon in Kuwait’s proven oil reserves. If all this stored carbon were to be released into the atmosphere as CO2, it would be akin to emitting 1.3 times the world’s total annual CO2 emissions from fossil fuels.

Findings from 10 World Heritage forests are cause for concern 

However, given that World Heritage sites are highly prized and protected, the fact that 10 of 257 forests emitted more carbon than they captured between 2001 and 2020 due to different anthropogenic disturbances and pressures is alarming.

At some sites the clearance of land for agriculture caused emissions to be greater than sequestration. The increasing scale and severity of wildfires, often linked to severe periods of drought, is also a predominant factor in several cases. Other extreme weather phenomena, such as hurricanes, contributed at certain sites. 

All forests should be assets in the fight against climate change. Our report’s finding that even some of the most iconic and best protected forests such as those found in World Heritage sites can actually contribute to climate change is alarming and brings to light evidence of the severity of this climate emergency.

Tales Carvalho Resende, UNESCO World Heritage Centre, co-author of the report

In the coming years, ongoing sequestration and carbon sinks are likely to be affected at a growing number of sites worldwide as a result of increasingly fragmented and degraded landscapes, and more frequent and intense climate-related events.  

Better management of sites can yield results 

The report urges strong and sustained protection of UNESCO World Heritage sites and their surrounding landscapes to ensure their forests can continue to act as strong carbon sinks and stores for future generations. To achieve this, the report recommends rapidly responding to climate-related events, as well as maintaining and strengthening ecological connectivity through improved landscape management.  

For example, in Indonesia, government agencies have been using near real-time fire alert systems to significantly reduce their average fire response time. Rapid response is integral to preventing fires from developing into destructive conflagrations that produce extensive CO2 emissions.

At the Sangha Trinational World Heritage site, located within Cameroon, the Central African Republic and the Republic of Congo, the creation of a buffer zone around the site has kept some human activity farther from this important carbon sink.

The report also recommends integrating the continued protection of UNESCO World Heritage sites into international, national and local climate, biodiversity and sustainable development strategies in line with the Paris climate agreement, the Post-2020 Global Biodiversity Framework and the Sustainable Development Goals. 

This analysis of iconic World Heritage sites shows that combining satellite data with on-the-ground information can improve local decision-making and strengthen accountability, thereby helping forests, climate, and people.

David Gibbs, WRI Research Associate and co-author of the report

Protecting World Heritage sites from increasing fragmentation and escalating threats will be central to our collective ability to address climate change and biodiversity loss.

Tim Badman, Director of IUCN’s World Heritage Programme

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