Genecoin started in 2017 as a community currency to help scientists develop Nature Based Solutions for sustainable development. Low levels of adoption suggested to us that the friction in the interface of criptocurrencies was still high and it was too early for massive adoption in the scientific community. Read our original white-paper
In 2018 we pivoted to a blockchain for biodiversity, to help companies comply with the brazilain legislation (13.123/2015) on benefit and sharing. We incorporated and had our first client, Reservas Votorantim, that executed a proof of concept to record in the blockchain, track and display the information about samples collected in the forest for research and development purposes. Genecoin was selected for several acceleration programs and awards. We developed another proof-of -concept and an unique MVP with Zero Knowledge proof to validate biodiversity assets in a supply chain (request access to this MVP). However, again, adoption was low. Traceability was a nice to, not a must, have value proposition and the market did not seem ready for adoption of an alternative method to certification by a third party as means of demonstrating trustworthyness. We published a white paper on the potential of blockchain for the cosmetic industry.
In 2021, bitcoin was consolidating as the best possible store of value, adoption was growing and as it was getting mainstream, concerns with the consumption of energy to secure the network and the energy sources were growing too. With our network and understanding of the energy market in Brazil, we understood we could help energy companies increase their efficiency and revenue by helping them adopting bitcoin mining as a side business, and pivoted again. Read our latest white-paper.