Dallas, Texas, April 26, 2022 (GLOBE NEWSWIRE) — Puration, Inc. (OTC Pink: PURA) today released more details behind the company’s cryptocurrency initiative to connect hemp growers with the income potential from the carbon sequestering benefit of hemp cultivation.
PURA recently published an update following the release of the company’s 2021 annual report. The update centered on the company’s overall 2021 transition from a CBD beverage operation into a much more broadly focused industrial hemp company. The industrial hemp market is an exponentially larger opportunity than our previous CBD beverage focus. The company is releasing a series of additional updates focused on specifics of the growing industrial hemp business.
PURA believes connecting a CO2 standardized measurement for the carbon sequestered by hemp with a cryptocurrency that represents the carbon credit value of the sequestered carbon can create meaningful income for hemp growers that adds to the income generated from selling hemp fiber and extracts.
“Hemp is a carbon sequestering heavyweight, one of the most carbon-gobbling crops in agriculture. On average, an acre of hemp sequesters about 11,000 pounds, or 5 metric tons of CO2 throughout photosynthesis during its growth cycle, according to New Frontier Data.” (Let’s Talk Hemp)
Work is already under way to create a recognized CO2 measurement standard for hemp cultivation – learn more.
At least one cryptocurrency backed by carbon credits has also already been created.
“It was not long ago that Tesla added carbon credit sales to its auto sales to generate its first profit,” commented Brian Shibley, CEO of PURA. “Certainly, hemp farmers should be eligible to take advantage of this same opportunity.”
In an effort to provide immediate help to hemp farmers, PURA has engaged with a third party to structure a cryptocurrency that will first link with the hemp crop income potential while working to certify the carbon credit opportunity. The hemp crop potential will help farmers with the up-front cultivation expenses. Both the cryptocurrency owner and the hemp farmer will maintain carbon credit upside potential.
The initial structure of the hemp farming carbon credit cryptocurrency ecosystem is expected to be completed within the next two weeks. PURA will publish the initial ecosystem structure and look for feedback.
For more information on Puration, visit http://www.purationinc.com
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