On the third episode of ReFi Podcast, we sit with Michael Kelly & Fred Fournier from Open Forest Protocol. Discussing the new and emerging technologies they are pioneering to overcome the hurdles of MRV (Measurement, reporting and verification) of forestry projects.
Some of the topics we jump into:
0:00 – Intro
01:07- How did OFP start?
06:30 – It’s a collaborative space
07:16 – Overview of OFP
12:00 – Are there third party registries that act in this system?
15:13 – What’s been your experience engaging with smaller and medium scale projects?
19:30 – The economic model: What are the economic incentives for people to use your protocol?
24:00 – Validators policing against the chance of any anomalous activity
27:23 – How do you see the potential land to be forested and economic opportunity?
30:48 – The capacity to tokenize natural capital
33:10 – The trade-off between data storage and resource constrained blockchain environments
41:10 – The scope for new partners to learn the system from MRV to Blockchain and beyond
43:19 – How does your annual validating check-in help with the capital flow?
50:35 – Does OFP produce carbon credit tokens that we can buy?
55:30 – Is there a risk of double accounting?
58:30 – The 2 pronged “Collateral Area” system of validation
01:07:40 – Addressing the oracle problem, bringing true information on to the blockchain
01:11:57 – What can the ReFi community do to help the cause?
01:16:12 – The experience of building the OFP community
01:20:27 – Reaching out to indigenous people to participate in the system
