Block One buys minority stake in fintech firm OMAAT
Block One has agreed to acquire up to 40% of London-based fintech firm OMAAT. OMAAT (standing for One Metre at a Time) is a blockchain-based, patented fintech solution aimed at democratising the purchase and protection of natural capital such as rainforests. OMAAT’s innovation allows consumers to purchase one square metre of rainforest in the Cuipo Foundation Rainforest Reserve in Central and South America, represented by a CuipoCoin saved in their name. The land ownership is recorded on a Blockchain ledger for transparency, and this consumer data base creates a large scale social media opportunity to further other Rainforest initiatives. Block One has invested $500,000 into its operations.