GROVE: Forestry Smart Ledger (FSL)

About

Overview
GROVE (The Global Restoration Objective Virement Ecosystem) is a funding platform to support reforestation and regeneration activities worldwide. The engine behind GROVE is called the Forestry Smart Ledger (FSL). The FSL uses satellite imaging to verify biomass growth in forests to support more sustainable land-use. In combination with GROVE’s blockchain technology, the FSL automates restoration agreements to support more transparent performance rewards and robust quantification of carbon capture and biodiversity support. The benefits of this platform accrue to Indian communities and communities worldwide who engage in regenerative forestry. By improving tracking, measurement, and verification of reforestation, the FSL has significant potential to unlock more funding sources and translate those funds in more stable incomes for local people.

The Problem
Mangroves and forests provide tangible and quantifiable benefits to communities, but community-based conservation and reforestation efforts struggle to generate sustainable financing. Meanwhile, donors face unaddressed concerns regarding oversight and possible opportunism. These problems remain largely unaddressed by incumbent systems of carbon markets and development bureaucracies.

The Solution
GROVE’s Forestry Smart Ledger (FSL) is a three-part system that links together a blockchain Land Ledger and a remote sensing Computer Vision Forest Oracle via an open-source Forest Library engine. This system provides scientific, retrospective verification of forest growth so local communities can secure long-term and transparent financial support for active husbandry. This system empowers not only tree planting, but also long term forest growth. At the same time, the FSL gives forest sponsors new ability to track the progress of their donations through accurate data on forest growth, carbon storage, biodiversity conservation, and habitat regeneration. By reducing search and contracting costs for mass-scale reforestation and coastal conservation, the FSL solution will accelerate private sector investment in decentralized forestry and generate exponential increases in climate action. While the technology is complex, the solution we offer drastically lowers barriers to adoption by simplifying outcomes, adding transparency, and lowering costs.

Target Impact
According to the Global Mangrove Trust (the non-profit behind GROVE and the FSL), a pilot in India currently lists 1,000 hectares of projects, planting approximately 2500 trees/ha. GMT further anticipates scalability within 2 years to over 100,000 hectares in Andra Pradesh, Bangladesh, and Myanmar that could store over 125M metric tons of CO2 over 25 years. At current blue carbon prices exceeding US$10/ton, correlate voluntary carbon market demand values indicate over US$1.25 billion in potential funding for community-based forestry.