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The new cryptocurrency startup Flowcarbon is designed to transfer the voluntary market of carbon units to the blockchain.
The founder and former CEO of the American company for the sale of commercial real estate WeWork Adam Neumann (Adam Neumann) launched a cryptocurrency startup. His company Flowcarbon will try to transfer the voluntary market of carbon units to the blockchain. Now the company has closed a round of venture capital raising for $ 32 million, the main participant of which was the company Andreessen Horowitz (a16z), and also raised an additional $ 38 million through the pre-sale of the Goddess Nature Token (GNT).
The voluntary U.S. carbon unit market provides companies with a tool to offset their carbon emissions by purchasing carbon credits. Many companies that are not yet able to reduce their carbon footprint themselves acquire points to compensate for the harm to the environment. Most buy loans on a voluntary basis.
“There is a powerful economic trend that contributes to the destruction and degradation of important natural landscapes around the world, but the voluntary carbon market is a brilliant financial mechanism that creates a balancing incentive for forest restoration, regeneration and protection of nature,” says Flowcarbon CEO Dana Gibber.
Flowcarbon claims that its GNT token is backed by a package of certified carbon offset credits issued by environmental authorities over the past five years. The company says that the token can be sold, used for borrowing and lending, or exchanged for a basic real loan. When the token is launched, it will run on the Celo blockchain.
Earlier, the developers of the second level solution for the Ethereum Polygon network allocated $ 20 million to minimize the negative impact of carbon dioxide emissions on the environment.
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