THE GC-Dollar RULES©
THE GC-Dollar RULES & Minting GC-Dollars©
1. Organic carbon
Most living and deceased things contain organic carbon. The organic carbon (CO2) sequestered must come from the atmosphere (air), it must be converted from gas to organic matter through biological natural processes and then become a part of an improving living environment such as (but not limited to) soil, forest, and marine environments utilising plants and animals in a regenerative plan, or as part of existing complex living environments within the boundaries of your nominated property or waters.
2. Not wages
Any, and all payments made by GC-Dollar to GC-workers or GC-landowners are to be in addition to the entitlements of workers and not a replacement for normal wages in accordance with local laws. Any owner failing to meet these conditions may forgo their rights for any payment of GC-Dollars now and in the future. If we are the only source of income, then your participation with GC-Dollar’s organisation is voluntary and at your own risk.
3. Responsibility
a. It is the GC-landowners responsibility to ensure that all GC-workers are given the opportunity to register and log the hours that they are engaged in work on-site at any registered projects under the GC-landowners control.
b. The GC-workers need to log their worked hours online for each GC-landowners registered project that they are a part of, only the hours you are physically at the projects address are eligible to be logged for GC-Dollars.
4. Access
We need to be able to arrange access to your land on or around the time of your environmental testing. GC-Dollar will take reasonable steps to provide notice to arrange an agreeable date and time as close as practical to your baseline testing anniversary to verify and evaluate environmental change within your land and or projects.
5. Photos
In this digital age, photos are an easy way to demonstrate your progress. Regular photographs from setpoints and additional easily identified random points on your property will help establish the validity of your claims for GC Dollars. These photos should be uploaded to your project’s timeline.
6. Testing
Baseline testing and annual or as required close as practicable to anniversary repeat testing, provides information to authenticate your eligibility for GC-Dollars.
7. Planning
GC-landowners will need to provide us with a copy of the method you use to care for your environment specifically on your property. This can include traditional behaviours that encourage natural environmental conditions to continue and or improve. Keep it simple to help with your verification of your claims for GC-Dollars. This needs to be updated with each new environmental evaluation.
8. Discretion
In the normal course of business, buying and selling is a part of life. You must be willing to accept GC-Dollars in exchange for goods and services in transactions at your discretion, as you would any other currency or exchange for trade, at our known local exchange rates.
9. Residual
Your residual payment is based upon the continued cycling and increasing of carbon in a bio-diverse living environment. Continue maintaining and increasing, the volume of carbon in your environment and help save our planet and we will gratefully pay the residual payments of GC-Dollars when they become available, to enable you to care for our future.
10. Honesty
To ensure the honesty and integrity of the people sequestering carbon into the soil and other environments, we aim to educate rather than penalise, but one years sequestered carbon may be bypassed for a breach of the rules.
11. Evidence
The GC-landowner is required to provide photographic evidence of environmental samples and data collections on their property and post them on the GC-Dollars webpage.
12. Laboratory
A soil laboratory will need to process your base-line testing samples and follow-up testing samples. The GC-landowner must then store the remaining material left over from sample testing, test results and a digital copy of the photos in a cool, dry place and these samples need to be available for inspection upon request by a GC-Dollar auditor if required.
13. Excluded
The intentional removal of organic carbon from site, may be an essential part of your business model and we do not wish to discourage profitability of business. Specific plants/animals/fungi/etc, grown for harvest need to be excluded from the projects carbon accumulation calculations if they are to be removed from site.
14. Landowner
Transfer of ownership of a project from a GC-landowner to a new GC-landowner,
a. When a property is sold, the GC-landowners residual payments are transferred to the new GC-landowner.
b. The GC-landowner selling the property will continue to receive their residual payments for their accumulated GC-workers hours.
c. The new GC-landowner is required to register as a GC-landowner to be eligible to receive the residual payments.
15. Unintentional
The unintentional removal of carbon versus intentional removal of carbon.
a. Intentional.
The termination of residual payments to the GC-landowner and previous GC-landowner may result from the following: Example (1) The removal of a bio-diverse living environment to be replaced with a less bio-diverse farming endeavour is an intentional removal of carbon and would terminate the residual payment to the GC-landowner. Example (2) Clear felling forests with a goal to harvest the timber is an intentional removal of carbon and would terminate the residual payment to the GC-landowner. Any intentional destruction of biodiversity within an environment may result in the termination of residual payments.
b. Unintentional.
The termination of residual payments to the GC-landowner and previous GC-landowner may not result from the following: Natural events, accidental bushfires, storm damage, insect infestations, drought, bad weather conditions and alike, these non-man-made (?) events may result in a reduction in environmental carbon content. We do not wish to penalise in the occurrence of a natural disaster, the GC-landowner has no control over these events so the residual payment would continue. We would hope this will encourage a continued effort to improve the living environment in the years that follow the natural disaster. We acknowledge that climate change is occurring and may result in changing weather conditions, but we do not hold the GC-landowner individually responsible for these occurrences.
16. Warning
The legal status of digital assets may be restricted or change without warning within jurisdictions due to local regulatory constraints variations. GC-Dollar takes no responsibility for current or future legislation relating to ownership and use of digital assets.
17. Seek
Seek legal advice prior to commencing any activity relating to the accumulation of carbon. Global Climate Dollar (GC-Dollar) and its affiliates highly recommend obtaining independent advice about the laws and regulations that apply in your jurisdiction prior to the commencement of any activities.
18. Activities
Neither Global Climate Dollar (GC-Dollar) nor any of its associated businesses will incur any liability, financial or otherwise to you in relation to the conduct of your activities in attempting to accumulate carbon of any kind into any environment, bio-diverse living or otherwise. GC-Dollar assumes no obligation to reimburse or in any way compensate you for losses or expenses incurred in connection with your attempts to rebuild living environments or evaluating said environments.
19. Minting GC-Dollars
19a. One Tonne
For each one tonne of organic carbon sequestered, put, grown into a bio-diverse living environment at or into GC-Lands and Waters, GC-Dollars will generate $4000.00 GC-Dollars.
19b. GC-Landowner/s Per Tonne
The GC-Landowner receives $1000 GC-Dollars’ per tonne of organic carbon put, grown into the bio-diverse living environment plus, they receive 8 hours per week of worker’s hours shares. (The eight hours per week and the $1000 GC-Dollars’ per tonne is limited to one GC-Landowner, where there is more than one landowner, they must share this dividend between them.)
Any GC-Landowner can earn extra GC-Dollars by working on-site on the GC-Land and water and logging the work hours as a GC-Worker
19c. The GC-Workers Per Tonne
The GC-Workers log their hours on the website for each of the GC-Lands and Waters that they work at.
A total of hours worked at each of a GC-Landowner’s GC-Lands and Waters are added up for each individual location, when repeat environmental testing is carried out at any of the GC-Lands and Waters, they have worked at the GC-Worker/s receives their share based on the hours they worked, and the amount of carbon accumulated into the living environment, at that specific GC-Lands and Waters location within that evaluation period.
19d. Global Climate Dollar Per Tonne
Global Climate Dollar Pty Ltd receives $1000 GC-Dollars for each one tonne of carbon sequestered, put, grown into a bio-diverse living environment at or into GC-Lands and Waters, minus 10% that goes to the country where the organic carbon was accumulated.
19e. GC-Dollar Affiliate
1% more of the newly minted GC-Dollars will be taken from Global Climate Dollar Pty Ltd.’s share of the newly minted GC-Dollars for 50 years, these GC-Dollars go to the person/business/charity or to the GC-Dollar affiliate, who signs up the GC-Land and Water.
19f. A Country’s GC-Dollars
Each time a new project is registered, our webpage takes note of the country where the project is based, checks our system for an existing account and if there is one, adds the new project to that list. If there is not, we will open one in the name of the country once our wallets have been created.
19g. The Remaining $1000 GC-Dollars
The remaining $1000GC-Dollars per tonne is to be divided equally between the GC-landowner, the GC-workers and GC-Dollar at a rate of $10 per tonne per year for the next 100 years.
The GC-Landowner will receive their residual payment for the property but only until such time as they sell their property, the new property owner will receive the remaining payments starting from the next environmental evaluation.
The GC-Landowners selling the property will continue to receive their residual payments for the allotted hours and worked hours, for the environmental restoration work they have achieved. This can end if the new owner intentionally destroys the restoration work, so it is in the best interest of the landowner to ensure they pass the property on to somebody who is going to look after it.
The GC-Workers receive their residual payment based on the original equation for the hours worked in the year/s that the carbon was accumulated. Global Climate Dollar receives its one third share into its account to enable us to continue to care for our planet, people, and our staff.
19h. The Metric Tonne
We will be using the tonne (or 2204.6 pounds) as our standard measurement for a tonne. This is known as the metric tonne.
19i. Our Exchange Rates,
The Global Climate Dollar is going to be a stable digital commodity, similar to a stable coin. It will be generated at a rate of 1 to 1 with the historical exchange rate of the US 2019 dollar. On the 16/4/2021 we completed our original download of exchange rates, on 19/01/2022 the decision was made to find the exchange rate for the not-available (NA) exchange rates from our original downloaded document, we returned to Google, to find an exchange rate for the US-Dollar in 2019 and for as many countries’ currencies exchange rates as we could find, and added this information, we now have a known exchange rate for over 170 countries currencies based on their value in 2019.
Our stable dollar commodity Global Climate Dollar (GC-Dollar) is set for review every 20th year starting from December 2019, and examination and variation of the price of our currency may also occur as a result of a global financial crisis (GFC). The currency’s next date for price evaluation is due in December 2039.
There is a one-time opportunity for a country to change its exchange rate, if a country chooses to peg its dollar to our currency, they have the option to use our known exchange rate for their countries currency or have their exchange rate updated to the current global price for the US dollar, whichever is best for their country.
