Rhino Coin has been established to provide assistance to populations in distress – rhino populations; to victims of man-made disasters and armed conflict – rhino poaching; and – due to the need for a critical response at a critical point in their survival as a species – to do so irrespective of the opposing camps and opinions on related matters, such as rhino horn pro-trade or anti-trade factions, or pro-dehorning or anti-dehorning debates, etc.; and prioritise the welfare of those being harmed – the rhinos.
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 while the trade versus anti-trade debate rages on, rhinos are dying – massacred without mercy for their horn. We don’t believe there is one perfect solution – one flawless right, or wrong. We do not claim to have all the answers, but we intend to do whatever we can to save our rhino.
Rhino Coin isn’t interested in counting down to extinction. Instead, it exists to help restore balance to the rhino population by helping the overall conservation effort with its cryptocurrency.
More than 7,000 African rhino have been lost to poaching in the last 10 years.
In spite of the 1977 CITES ban on international trade of rhino horn, more than 95% of the black rhino population in Africa was wiped out by poaching between 1970 and 1992 decimating the population numbers from around 60,000 to around 2,500 – 3,000.
In the decade before 2009, the SA rhino poaching stats averaged at around 21 rhinos poached per year.
In spite of the Moratorium on domestic rhino horn trade introduced in 2009, in the 8 years to date (2018 figures not included) since 2009, the SA rhino poaching stats averaged at around 867 rhinos poached per year, with more than a thousand rhino having been killed a year since 2013. This means rhinos are currently being killed at a rate of almost three per day, and many say the official figures are lower than the actual figures.
The reality is that the wildlife reserves, entities and individuals that exist to protect and conserve rhino are running out of the vast amounts of money needed to safeguard and sustain, let alone grow, the rapidly dwindling rhino populations in South Africa and in Africa.
Conservation is the ethical preservation of the earth and its biological diversity; a duty we all have towards future generations. Rhino Coin aims to, through cryptocurrency, generate a new source of revenue to aid conservation.
When Rhino Coin is traded on the CornuEx.com trade engine, a trading platform based on blockchain technology, it enables conservationists to unlock the value of stockpiles of rhino horn. By ‘digitising’ the horn, the value can be traded in a liquid marketplace, thereby creating a new market for rhino conservation and resulting in a much needed source of income to protect and conserve the species. At the same time, a trading opportunity is created for the holder.
The Rhino Coin itself gives value to the legal horn and not the other way around. Holders of Rhino Coin will be participating in the global market for the conservation of rhino, through a single platform.
Rhino Coin provides a creative mechanism to add value to rhino horn without actually trading physical horn.
Rhino Coin expands on the potential donor market by opening opportunities to those who might not ordinarily donate to traditional conservation causes, thereby mitigating traditional donor fatigue.
There is major worldwide excitement around cryptocurrency and our intention with Rhino Coin is that it will be a cryptocurrency for everyone, not just for seasoned crypto-traders or the very tech-savvy. Rhino Coin is enabling ordinary people, especially South Africans, to steward the stockpiles of rhino horn and stage and participate in a bloodless revolution against rhino poaching and the illegal rhino horn trade.
Rhino Coin is not only an innovation in terms of the concept, but is an extremely attractive model for participants too. Rhino Coin participants contribute directly to rhino conservation when they buy Rhino Coin and in addition, they enjoy the advantages of cryptocurrency. The Rhino Coin model means this opportunity extends to the global community to participate in a crypto-conservation project with auditable fund distribution. The fact that Rhino Coin is represented on a 1:1 ratio also provides a sense of stability, which addresses some of the concerns typically raised by crypto critics. Of course, there is enormous value in the power coin holders have to ensure that rhino horn stays out of illegal circulation.
Rhino Coin is Crypto-Conservation, which is cryptocurrency with a conscience. It combines the transparency and security of blockchain technology with the social responsibility of conservation. It accomplishes this by underpinning each RNC coin with 1 gram of legal, ethically-sourced and permitted rhino horn, while securing all horn reserves at a secure location and keeping horn out of illegal circulation. Rhino Coin retains the elements of cryptocurrency, offering a potential to trade and yield a possible return for the holder. All fund distribution is auditable.
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 17% of the introduced coin. The Foundation Directors are at arm’s length from and in no way involved in the Rhino Coin concept. The Foundation is the vehicle for the distribution of the funds allocated to it, generated from Rhino Coin. The Directors will ensure that these funds reach the identified rhino conservation and community socio-economic development (aimed at communities based in and around rhino reserves and range areas) projects. It is their job to get the funds to where they are needed most, on the ground. The individual Board members were carefully selected and appointed because of the specific and related skills and experience they are able to bring to bear.
Every project undertaken and invested in will be reported on and shared in detail with the public via the Rhino Coin website – www.rhinocoin.com – providing the opportunity for all participants and/or interested parties to see and follow exactly how Rhino Coin is helping to save the rhino.
Rhino Coin is based on a private blockchain that was built on Ethereum. The issued Rhino Coin is assigned on a trade engine called CornuEx. CornuEx.com is a public trading platform and this is the trade engine that serves as the market place for buying and selling Rhino Coin.
The premise of Rhino Coin is based on the horn reserves never actually leaving the vault. However, Rhino Coin can be used to purchase legal rhino horn, through the representation on a 1:1 basis, this is still subject to all legislative permit requirements.
Rhino Coin is intended to generate funds to be directed at conservation efforts to significantly increase rhino population numbers; enabling conservation reserves to significantly upgrade and improve security practices and operations and thereby, discourage poaching and the illegal trade of rhino horn; benefitting communities located around rhino reserves and rhino range areas.
The objectives of Rhino Coin are:
- Not only saving current rhinos, but working on increasing the Rhino population to the point where they are no longer threatened.
- Focus on making a real and measurable impact in the immediate and future rhino situation.
- Provide a sustainable source of funding for rhino conservation.
- Encourage a greater level of involvement and action by the general public.
- Create a real and sustainable impact in poor communities that surround rhino reserves.
- Contribute to a future when Rhinos can, once again, safely and freely, roam their natural habitat with their horn intact.
While we all know that there is no single, magic solution that will save the rhino; Rhino Coin is determined to do whatever is within its power and has been established for that exact reason.
If you enjoyed reading this article, then be sure to read ‘Cryptocurrency: saving the world one purchase at a time?’ here.