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Climate change is the biggest threat facing the world. And Erick Miller has a big idea to tackle it. Miller, a frenetic L.A.-based entrepreneur and venture investor, has worked in Hollywood, invested in early dot-coms, and had a vital role in developing Snapchat’s highly popular spectacles. Now he wants to “tokenize the world” through his investment fund CoinCircle. As part of that, he and his partners have come up with a term they call “crypto-impact-economics.” Out of this concept, Miller and a team that includes UCLA finance professor Bhagwan Chowdhry and World Economic Forum oceans conservationist Gregory Stone came up with two special value tokens: the Ocean Health Coin and the Climate Coin. Those tokens would be issued to key stakeholders in the global climate problem, a mix of companies, governments, consumers, NGOs, and charities, who could use them to pay for a range of functions having to do with managing carbon credits and achieving emission and pollution reductions. The idea includes a reserve of tokens controlled by the World Economic Forum to manage the value of the global float of coins. The meat of the proposal involves a plan to irrevocably destroy some of the coins in reserve whenever international scientific bodies confirm that improvements in pollution and carbon emission targets have occurred. That act of destroying tokens, through a cryptographic function, will increase the surviving tokens’ scarcity and thus their value. The point: holders are motivated to act in the interests of improving the planet now, not tomorrow.
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Michael J. Casey (The Truth Machine: The Blockchain and the Future of Everything)