Why absurd? We've removed 3 trillion trees since the beginning of agriculture and replanting 1 trillion is absurd? Or do you think its infeasible?
Estimated cost is a few hundred billion dollars. A lot cheaper than most methods of carbon sequestration. It also has the benefit that it could restore ecosystems if done well. People who focus just on carbon emissions miss that the are more systemic problems with destroying ecosystems i.e. in the long term biosphere collapse.
The larger problem is that it takes 50 years (or longer) for most of the carbon sequestration to happen.
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Banks have 2 key functions:
1. Taking deposits and lending them out again. i.e. creating money through the credit creation process.
2. Providing money transfer capabilities.
positvemoney.org runs a policy campaign which makes a compelling argument for a separation of these two functions as a response to the financial crisis. One of the arguments is that when the investments of banks fail, our ability to transact fails with them. Not exactly a resilient system.
There are a number of existing open source projects to create libraries and protocols to generically provide money transfers.
http://opencoin.org (disclaimer: I am involved with this project)
http://opentransactions.orghttp://opencoin.com - open source but very much commercial
Those who say bitcoin is addressing these functions are misguided. Bitcoin is arguably a currency tightly integrated with a transaction technology. In theory the bitcoin transaction technology could be re-worked to be useful as a library for money transfers (non-anonymous). I imagine that would be a significant amount of work.
Estimated cost is a few hundred billion dollars. A lot cheaper than most methods of carbon sequestration. It also has the benefit that it could restore ecosystems if done well. People who focus just on carbon emissions miss that the are more systemic problems with destroying ecosystems i.e. in the long term biosphere collapse.
The larger problem is that it takes 50 years (or longer) for most of the carbon sequestration to happen.
https://www.biocarbonengineering.com/