Experts are racing to preserve the fast-disappearing biodiversity of our coral reefs, and the solution could include your home fish tank.

Great Barrier Reef Legacy, a non-profit group, will create the world's first bio-bank of living corals, with ambitions to make it "one of the largest collaborative citizen science and research projects the world has ever seen".

The 'godfather of coral’ and Living Coral Biobank Project partner, Dr Charlie Veron, examines biodiversity on the reef. Credit:Dean Miller/ GBR Legacy

"We're losing the diversity of coral and coral reefs," said Dean Miller, the Legacy's managing director. "What we need to do is put in place an insurance policy."

Dubbed a "coral ark", endangered coral species will be stored and bred in tanks using advanced lighting and water chemistry techniques developed by the aquarium industry.