50 Cent Animal Ambition Bitcoin

[Kym Wash]

Businessmogul and hip-hop star Curtis "50 Cent" Jackson has joined the growing number of musicians and entrepreneurs who are embracing bitcoin by accepting the digital currency as payment for his new album, 'Animal Ambition'.

In December 2013, Snoop Dogg (also known as recently as Snoop Lion) expressed interest in taking bitcoin for his next record, though to date he hasn't taken an formal steps toward this decision. At the time, he hinted that the record would be "available in bitcoin and delivered in a drone". Later, Snoop had a public exchange with Coinbase via Twitter about the idea, saying that "I want to make it happen".

Former Spice Girl Mel B followed suit later that month, expressing interest in the digital currency for her then-upcoming single. She remarked that she was excited about the possibilities contained in consumer-leaning innovations like bitcoin, saying:

In late February of this year, Mt. Gox, the leading exchange for bitcoins, announced that it lost more than $400 million worth of customers' bitcoins and filed for bankruptcy. The fall of Mt. Gox caused a dramatic drop in the value of bitcoin. The currency, which once traded at $1,100, fell to just $360 in April. But the currency has started to make a comeback. By the start of the day Wednesday, the cryptocurrency was trading at more than $660, up 80 percent since April, according to CoinDesk.

This rise in price comes in the same week that two more bitcoin-related websites found themselves in legal trouble. On Tuesday, Erik Voorhees, the co-owner of SatoshiDICE and FeedZeBirds, paid almost $51,000 to settle federal civil charges that he sold shares in the two sites without registering them with the Securities and Exchange Commission, though Voorhees denies he did anything wrong.

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Jonathan Levin at the University of Oxford runs Coinometrics.com, a website dedicated to capturing a statistical picture of Bitcoin as a working economy. Since the record of all Bitcoin transactions is public, Levin has used it to gather data about the distribution and movement of bitcoins.

The people who buy, sell and mine bitcoins are also constantly required to place trust in services that complement the workings of the Bitcoin protocol. Unfortunately, such trust has been shaken in recent months thanks to trading scams, hacking and the collapse of exchanges and e-wallets which are used by many for the storage of Bitcoin addresses.

The Toronto-based company, formed just over two years ago, offers exposure to carbon credits. It works by investing capital in conservation, direct air carbon capture, or reforestation projects around the world in exchange for the carbon credits which result. Carbon Streaming then sells those credits to buyers around the world, with 80 to 90 per cent of the revenue shared back with the project developers.

For now, that will largely involve nature-based projects. However, Cochrane is also looking at diversifying the portfolio, which could involve potential Canadian projects as well as non-nature-based carbon initiatives.

It preserves tropical lowland peat swamp forests, an endangered ecosystem, is home to over 600 species of flora and fauna and 100 local animal species including the endangered Bornean orangutan. First developed in 2009 by Hong Kong-based InfiniteEARTH, it is the largest REDD+ (Reduced emissions from avoided deforestation and degradation) project in the world.

A portion of revenue from the Rimba Raya credit sales supports local community development and provincial government infrastructure. Some tangible examples include water filters, floating medical clinics and educational opportunities.

The collaboration with Carbon Streaming began about 18 months ago. Cochrane got in touch with Infinite Earth to chat, which led to involvement with both Rimba Raya and the MarVivo Blue Carbon Project in Baja California Sur, Mexico.

In November, Carbon Streaming announced it expects to receive up to seven million Verra-registered REDD+ carbon credits in the first half 0f 2022. Verra is a quality assurance organization for voluntary carbon markets founded in 2007.

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