Ultra launches new conservation token
Bermudian-based digital asset exchange platform Ultra has revealed a new conservation finance mechanism.
Ultra Reserve, a new financial token tool for forest and wilderness conservation, was unveiled at the Grounded Summit, a solutions-oriented gathering of scientists, technologists and conservation leaders collaborating on climate change solutions. Ultra Reserve is part of the Ultra digital asset management system and connected to a tokenised asset exchange. Tokenised assets are digital representations of physical assets which can be compiled, managed and exchanged.
Ultra is managed by Hub Culture, founder of the cryptocurrency ven.
In a statement, Hub Culture said the system enables the protection of forested land and wilderness through direct purchase and placement into trust for perpetual protection.
Ultra Reserve tokens, which are digital, liquid and connected to the Ultra Exchange are related to the value of the land under protection are issued for sale or trade linked to the value of that land.
Ultra Reserve tokens can be linked to many types of qualified land protection projects where the land is legally preserved from development or in trust.
The qualification process for token issuance is managed through a digital contracting and legal terms library managed by Hub Culture, with the first projects linked to land purchases by Hub Culture held in perpetual trust.
Aspects of Ultra assets like Ultra Reserve include immutable ledger issuance and blockchain integration of identity and purchase data connected to the project. Trading is connected to ven. Reserve joins Ultra Carbon, a tokenised carbon asset launched in 2018 and available to qualified buyers via Ultra and Hub Culture.
Hub Culture said such tokens “help remove externalities from the wider economy by turning them into quantifiable assets. By doing so, the ability for businesses and consumers in the Hub Culture community to tackle grand societal challenges like preservation, climate change and other issues becomes more feasible.”
• For more information on Ultra Reserve, access https://ultra.exchange or via Hub Culture markets at hubculture.com/markets
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