A settlement currency to finance climate restoration and human prosperity
The paper proposes a hypothetical tree-backed stablecoin, "Carbonite," which would levy a 13-basis-point fee on global foreign-exchange turnover to generate the $3.1 trillion annually required to simultaneously fund large-scale carbon dioxide removal for climate restoration and meet basic human needs like ending hunger and expanding vaccine access.
Original paper licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). This is an AI-generated explanation of the paper below. It is not written or endorsed by the authors. For technical accuracy, refer to the original paper. Read full disclaimer
Drowning in papers in your field?
Get daily digests of the most novel papers matching your research keywords — with technical summaries, in your language.