Veridium in the News
This Hong Kong Tech Startup Wants to Build a Natural Capital Marketplace
Veridium Labs, an environmental technology startup headquartered in Hong Kong , said on Monday it hopes to raise $150 million in October by selling two types of tokens backed by forest carbon offset credits and other credits used to fund environmental mitigation efforts.
Preeminent Investor & CNBC Contributor BRIAN KELLY Joins Veridium Labs Board of Advisors
Veridium Labs, the environmental fintech company creating an open natural capital market powered by Blockchain, has announced that prominent investor Brian Kelly has joined its Board of Advisors.
ConsenSys, the world’s largest blockchain venture studio, joins forces with environmental technology incubator, EnVision Corp, to create the VERIDIUM Network, a platform for on-boarding Natural Capital Assets to the blockchain and create economically viable and auditable Corporate Sustainability Solutions.
VERIDIUM AND ETHEREUM
VERIDIUM is a collaborative initiative by EnVision Corporation, ConsenSys AG, Brian Kelly and Lykke. The Veridium Ecosystem, based on the Ethereum ERC20 Token Standard, is an open, public marketplace for the digital issuance of Environmental Assets or Natural Capital.
VERIDIUM’s mission is to leverage blockchain technology to create a transparent pricing mechanism for the highest quality, independently Verified, Natural Capital Assets, and to create tools for integrating Natural Capital into Sustainable Supply-Chain Solutions for Fortune 500 companies as well as Sustainability Solutions at the Individual Consumer level.
The first tokens backed by natural capital assets on-boarded to the blockchain through the Veridium Ecosystem are TGR tokens, which are backed by the highest quality of Forest Conservation Carbon Credit available – Triple Gold REDD+ Credits. Recognized and embodied in the Paris Agreement, these natural capital assets represent measurable environmental offsets including avoided emissions, forest & biodiversity conservation and positive social impact. TGR tokens are being authored under the ERC20 token standard.
THE REGENERATIVE ECONOMY
Creating sustainable supply-chains is a primary concern of many of the world’s largest companies as they struggle to maintain environmental mitigation standards. In bringing internationally registered and highly rated environmental mitigation credits onto the Ethereum blockchain, VERIDIUM will kickstart the regenerative economy by creating additional utility and liquidity to the world’s environmental assets.
The native token layer of The VERIDIUM ecosystem is comprised of membership rewards tokens (VRD), also authored under the ERC20 token standard. Each new Natural Capital asset onboarded to the blockchain via the Veridium Ecosystem will contribute up to 5% of their tokens to the Exchange Pool. VRD holders will be given an opportunity to exchange VRD tokens for such NatCapTokens in the Exchange Pool. The number of NatCapTokens delivered to each VRD holder participating in the exchange will be determined on a pro rata basis according to the aggregate number of VRD surrendered by all participating VRD holders.
The Veridium Ecosystem Model
The Road To Veridium
Milestones & Timelines
Todd Lemons forms EnVision Corporation as consultancy for sustainable technologies and social and environmental enterprises.
The Kleinkopf Family Trust funds EnVision to become an incubator of sustainable technologies and social and environmental enterprises.
First Big Success
EnVision launches Composite Technologies Intl. Based on a patented technology developed by Todd, the company makes sustainable building products. Landing Home Depot, Lowes and Masonite Door as key accounts, the company grows to over $30 million in annual revenues in 6 years when EnVision successfully exits the investment in 2008.
EnVision funds InfiniteEARTH to answer the UN call for market-based solutions to the global crisis of deforestation and climate change. Authoring the first independently approved accounting methodology for “forest conservation carbon credits”, InfiniteEARTH becomes the progenitor to a mechanism called REDD+, now embodied in the UN brokered “Paris Agreement.”
InfiniteEARTH develops the Rimba Raya Biodiversity Reserve, which becomes the first REDD+ project validated under the VCS standard, the first in the world to earn Triple Gold certification under the CCB standard and still today the largest REDD+ project in terms of verified emissions (REDD+ Credits).
InfiniteEARTH grows from an environmental startup to a leader in environmental mitigation solutions, selling to companies such as Microsoft, Intuit, SAP, PWC, Allianz, Zurich, Gazprom, Kering, Marks & Spencer, State Street Financial.
EnVision funds Veridium Labs as an Environmental FinTech company. Veridium’s mission is to leverage blockchain technology to create a transparent pricing mechanism for Natural Capital in the form of environmental mitigation credits like REDD+ credits and carbon credits.
Lykke Exchange joins Veridium as a strategic partner for building out the Ecosystem after the first token sale. Lykke will provide exchange services and other user tools.
Several co-founders of Ethereum join as partners in Veridium adding their blockchain DNA to Veridium. Together they map out the first tokenization of Natural Capital assets: InfiniteEARTH Triple Gold REDD+ credits (TGR).
Veridium strikes an agreement with the emissions trading division of one of the world’s largest oil companies to supply additional Triple Gold REDD+ credits for the TGR Token Sale and begins discussions with them and EcoSmart Labs about a second token launch on the Veridium Ecosystem that would create a carbon-neutral gas/oil product. Oil partner to be announced soon.
Veridium engages ConsenSys to provide technical support and a deeper capacity for building sustainable supply-chain solutions on top of the Ethereum blockchain.
Brian Kelly, founder of Brian Kelly Capital Management, author of the book “The Bitcoin Bang” and regular contributor to CNBC’s “Fast Money” sees the enormous potential for creating liquidity around potentially the world’s largest (undervalued) assets class – Natural Capital. Brian decides to participate in Veridium’s first token sale and sit on the Board of Advisors.
Brian Kelly and Veridium’s Chairman, Todd Lemons, are invited to speak at a Round Table summit of 50 global CEOs hosted by CNN’s Fareed Zacharia at the United Nations.
Brian Kelly and ConsenSys CEO, Joe Lubin appear on CNBC discussing Veridium and the applications of the Ethereum Blockchain for the carbon and environmental markets, particularly the oil & gas industry.
Veridium reaches an agreement with the Global Action Platform to begin a feasibility study for creating the world’s first Sovereign Development Fund (of up to $1 Billion USD) for its massive development project, the Caraga Initiative, funded from a token sale on the Veridium Ecosystem.
Build Out Functionality & Tools
Veridium will work with the Lykke Exchange to develop a white label exchange tool for use within the Veridium Ecosystem. This tool will provide the same liquidity and market making support as are available through the Lykke Exchange.
Global Scale Initiatives
Veridium will continue to work with GAP & GPSS on the launch of their Caraga Token. In a world first, the Caraga Initiative Token will represent a totally new model in Development Finance. The goal is to raise a $1 billion USD Sovereign Development Fund through a token sale representing the estimated $1 trillion USD in natural resources located within the 10 million acres of the Caraga Initiative. The project aims to create a new economic development model based on the Ethereum blockchain where the ownership rights and revenues from natural capital flow directly, transparently and democratically to the indigenous community.
GAP’s declared intention is that their token launch will occur in multiple stages, beginning with a $50-100M token sale by Q2 of 2018.
Launch a second Caraga token sale via the Veridium Ecosystem for $1 billion USD, creating the first blockchain powered Sovereign Development Fund.
Veridium will continue to work with a soon to be announced major oil company and EcoSmart Labs to facilitate the development of their “EcoSmart-Oil” and EcoSmart-Gas” products. In another world’s first, the duo are exploring the use of TGR tokens together with other natural capital assets and onboarding conventional commodities such as natural gas to the blockchain in order to create a line of sustainable (carbon neutral) oil & gas products.
Veridium Ecosystem — Team
For over 25 years Todd has developed disruptive social & environmental enterprise models to build companies that solve environmental challenges through market based sustainability solutions. Under his leadership as CEO, EnVision Corporation has continuously redefined conservation & sustainability through the lens of economics and engineering. EnVision has incubated several pioneering companies that are leaders in their industries including: EnTech Industries (later reorganized as Composite Technology International) – Utilizing a proprietary technology patented by Todd, CTI became Masonite Door’s largest international supplier of products manufactured in China, and the largest supplier of sustainable door frame systems to Home Depot. InfiniteEARTH Ltd. – Considered a pioneer in Tropical Forest Conservation Land Banking, the company authored the world’s first Forest Conservation Carbon Accounting Methodology known as REDD+ (Reduced Emissions from Avoided Deforestation & Degradation), which was recently embodied in the Paris Agreement, the United Nations. FarmWorks – a 3D Mobile Urban Farming startup focusing on developing leap-frog technology for Sustainable Food Production. EcoSmart Labs – An Environmental Fintech Startup focusing on the creation of an entirely new blockchain based asset class of environmentally net positive commodities.
Alan is an internationally recognized thought-leader in risk management. As one of 25 founding members of the RiskMetrics Group (now part of MSCI), he authored Risk Management: A Practical Guide (1999) and published articles in the Asia Wall Street Journal and other financial media.
Alan started his career as a researcher in JPMorgan’s corporate risk management group in New York, after receiving a degree in Industrial Engineering at Stanford University in 1993. Research included hedge fund risk analysis, default risk modeling, economic capital allocation, and market and credit risk integration. As a Vice-President in JPMorgan’s Risk Management Solutions group, Alan advised global financial institutions on enterprise risk management.
Alan is inspired by evolutionary ecosystems, and his most recent publication is Adaptive Risk Management: Powered by Network Science. Alan’s mission is to catalyze a global risk culture to protect the systems that sustain us.
Alan is currently Director of Natural Capital Markets at Lykke Exchange.
Jim Procanik is an Entrepreneurial Executive who spent more than two decades growing startup businesses in the Entertainment & Fashion industries in Los Angeles, New York and Shanghai. Jim’s businesses boasted a prestigious list of clients including Nickelodeon, Universal Studios, and NBC, as well as Bloomingdale’s, Saks Fifth Avenue, and Neiman Marcus.
In 2009 Jim joined as co-founder of InfiniteEARTH, the company responsible for developing the preeminent and world’s first REDD+ project, the Rimba Raya Biodiversity Reserve.
After spending 5 years as InfiniteEARTH’s Managing Director, Jim went on to found Green Projects, Inc., a company developing new consumer behavior models through disruptive sustainable retail concepts.
Yo is a serial entrepreneur in the tech industry, co-founding 8 startups over the past 14 years, including LaunchKey, a company providing multifactor authentication, leveraging mobile devices. In 2013, Yo was included in Inc. Magazine’s prestigious “30 Under 30” entrepreneur list.
VERIDIUM FOUNDATION — BOARD OF ADVISORS
Joe is a Canadian entrepreneur and a co-founder of blockchain computing platform Ethereum, a decentralized application platform incorporating a virtual machine that executes peer-to-peer contracts paid for via micro payments of the cryptocurrency ether. Joe co-founded the Ethereum Project, and has been working on Ethereum and is the founder of Consensus Systems, a Brooklyn-based software studio building decentralized applications. ConsenSys is one of the largest and fastest-growing companies in blockchain.
Joe graduated from Princeton with a degree in Electrical Engineering and Computer Science. He worked in the Princeton Robotics Lab, at tomandandy music developing an autonomous music composition tool, and at private research firm Vision Applications Inc. building autonomous mobile robots. As a software engineer and consultant, Joe worked with eMagine on the Identrus project, and was involved in the founding and operation of a hedge fund with a partner. He held positions as Director of the New York office of Blacksmith Software Consulting, and VP of Technology in Private Wealth Management at Goldman Sachs. Through these posts Joe focused on the intersection of cryptography, engineering, and finance.
Brian is CEO and Founder of BKCM LLC, a digital asset investment firm. He is the portfolio manager of the BKCM Digital Asset Fund – a hedge fund focused on digital currencies and assets. Brian Kelly has over twenty-five years of experience in financial markets and is the author of the book The Bitcoin Big Bang – How Alternative Currencies are About to Change the World. He is a CNBC contributor and can be seen regularly on Fast Money.
Scott is Chairman and CEO of Global Action Platform, a university-business alliance to advance scalable, sustainable solutions for abundant food, health, and prosperity. Global Action Platform is affiliated with the Institute for Strategy and Competitiveness, Harvard Business School, and Dr. Massey is Executive in Residence at the Massey School of Business, Belmont University, and a member of Michael Porter’s national Microeconomics of Competitiveness network.
Martijn is head of Baker and McKenzie’s Global Environmental Markets and Climate Change. His other roles include Visiting Professor of Climate Change Law at the Australian National University, Chair of the Australian Renewable Energy Agency (ARENA) and a Director of the Clean Energy Finance Corporation, WWF (Australia) and the Climate Council. He holds advisory roles as Chair of the NSW Climate Change Council, a Governing Board Member of the Renewable Energy and Energy Efficiency Partnership (REEEP) and as a member of the Wentworth Group of Concerned Scientists. He is also the Deputy Chair of the Private Sector Roundtable of the Asia Pacific Rainforest Recovery Plan and on the Reef Trust Innovative Financial Mechanisms Panel.
Martijn holds a Bachelor of Economics (Hons) from the University of Sydney, LLB Honours from the Australian National University, LLM from the University of Cambridge and has studied at the Hague Academy Centre for Studies and Research in International Law and International Relations. He is also a Graduate Member of the Australian Institute of Company Directors.
Nigel qualified as a solicitor of the Supreme Court of England and Wales in 1989 and specialised in corporate and commercial law. In 2008, He joined TMF Group (then Equity Trust) in August 2008 as the head of Private Client Services in Hong Kong. In early 2014, he became Global Head of Private Client Services. During that tenure, TMF Group grew to be the largest global independent trust and fiduciary service provider to private clients, with had over 6,000 staff spread across 120 offices in over 80 countries.
In April 2016, Nigel established Capital Solutions in Hong Kong and Singapore to deliver consultancy and advisory services to clients in relation to their wealth asset needs. Capital Solutions provides holistic and integrated solutions for private wealth assets.
Gerald is a serial entrepreneur with a 38-year history building branded, specialty consumer product companies. He is the Founder and President of Made In Nature, Inc. (1989), the first organic produce brand in the US to break through to mass-market retail and was sold to Dole Food Co. in 1995. Gerald went on to create Organic Bouquet, Inc. (2001), the world’s first online organic floral gifting site. After being an advisor since 2004, Gerald joined Wildlife Works and served as EVP of Business Development in 2007. In April 2017, Gerald was named president of “Everland” a new company launched by Wildlife Works. Everland is a marketing company that exclusively represents the world’s largest and highest quality portfolio of REDD+ projects in Africa, Latin America and Asia.
Sean is a graduate of the University of British Columbia, where he completed a degree in International Relations with an emphasis on China., Sean returned to Canada to graduate with a Juris Doctorate at Dalhousie University, where he specialized in Environmental Law. Upon graduation, Sean began working in Toronto as a lawyer at Osler LLP, one of Canada’s leading corporate law firms, where his practice focused on renewable energy project finance. In March 2016, Sean joined Northland Power Inc., one of Canada’s largest green energy project developers, and thereafter relocated to Taiwan to explore green energy projects in Asia.