How Rhino Coin Came To Be

HOW RHINO COIN CAME TO BE

Introduction

The seventh of June 2018 marked the first official step to Rhino Coin’s marathon race, in contributing to save the Rhino. But why are we running? What lead us here?

I, Alexander Wilcocks, have been truly blessed in my life, to have had the opportunity to see the absolute beauty of these magnificent creatures, and interact with them, in person. My Uncle and Father had rhino on a game reserve just outside Pretoria. The Rhino lived there peacefully for a number of years. But eventually, the rhino on the reserve started getting poached. They were brutally slaughtered, but not before they had their horn hacked out of their face while they were still alive.

These gruesome series’ of poaching showed me just how dire the situation actually is, because with our limited resource pool, we implemented preventative measures to try and protect the remaining rhino, and yet the poaching continued…

During our research into preventative measures, we found that in the rhino conservation space there was an active and on-going fight between two ideologies, pro-traders and anti-traders. And although both sides have the intention to save the rhino and have valid arguments, we realised that while they were arguing, the rhino were being killed. In fact, our rhino had been killed while the debate raged on.

This is truly when the Rhino Coin project was born, because Rhino Coin believes unquestionably that, in an ideal world, rhinos should roam free and secure in their natural habitat, with their horns intact and untouched. But, we do not live in an ideal world, and with that in mind we decided to take a new approach.

Roaming Rhino

Solution

The reality of the current rhino situation is that almost three rhino are being killed per day. That is an alarming rate. And it poses a problem that we South Africans, who still hold the majority of the world’s rhino, need to solve, as we are the Stewards of the rhino.

Rhino Coin’s solution is to create a means, on a neutral trading platform, based on blockchain technology, for conservationists to unlock the value of stockpiles of rhino horn. By “digitising” the horn, the value can be traded in a liquid market place, thereby creating a new market for rhino conservation and resulting in a much needed source of fund generation to protect and conserve the species. While at the same time, a trading opportunity is created for the holder.

The innovation of our solution is not only found in its concept, but also in the merging of conservation and cryptocurrency. Which means that Rhino Coin participants not only contribute directly to rhino conservation, they also experience the many advantages of cryptocurrency; one of the advantages being that the global community can participate in this crypto conservation project with auditable fund distribution. Also, due to the fact that Rhino Coin is represented on a 1:1 coin to gram of horn ratio, it provides a sense of stability, which addresses some of the concerns typically raised by crypto critics. And of course, there is enormous value in the power the coin holder will have to ensure that the rhino horn stays out of illegal circulation. The premise of Rhino Coin is based on the horn reserve never actually leaving the vault. However, Rhino Coin can be used to purchase legal rhino horn, by redeeming the Rhino Coin for legal rhino horn on a 1:1 basis, once the holder has met all legislative permit requirements.

Three Rhinos Killed Per Day

Technical

If we have a look at the concept of cryptocurrency, you have to look at the blockchain technology which it is built from. Blockchain was created as a new channel to facilitate services, in a digital landscape, while increasing the said service’s efficiency and accuracy at an exponential rate, and while providing a fully auditable digital paper trail. Blockchain can be thought of as a railway track, or an enabler. Which then enables services, like cryptocurrency, to function.

Rhino Coin combines the transparency and security of blockchain technology with the social responsibility of conservation. It accomplishes this by underpinning each RNC with 1 gram of legal, ethically-sourced and permitted rhino horn, while securing all horn reserves in secure storage and keeping it out of illegal circulation. Rhino Coin retains the elements of cryptocurrency, offering the potential to trade and yield a possible return for the holder. From there 74% of all coin introduced into the system gets allocated back to rhino conservation at a grass roots level, in an attempt to establish a new paradigm to promote a market-based model that contributes to the preservation of rhino.

One of the aims of Rhino Coin is to provide a source of sustainable funding to rhino conservationists, so that they can better equip themselves to continue their fight against rhino poaching.

Blockchain

The Foundation

The Rhino Coin Foundation is a separate entity made up of an external board of directors that have been mandated to manage and direct the flow of funds that are generated from the introduced coin.

The foundation is the vehicle for the distribution of funds allocated to it, which finds are generated through the trade of Rhino Coin on the CornuEx.com trading platform. The directors will ensure that these funds reach identified rhino conservation and community socio-economic development projects, which are aimed at communities based in and around rhino reserves.

Every project undertaken and invested in will be reported and shared in detail with the public via the website, for everyone to see and follow exactly how Rhino Coin is helping to save the rhino.

Rhino Conservation Logo

Conclusion

Rhino Coin is not interested in counting down to extinction! Instead, it exists to restore balance to the rhino population. While we all know that there is no single, simple and perfect solution to save the rhino, Rhino Coin is determined to do everything within its power to make a real contribution to this cause.

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