JustCarbon, Likvidi introduce blockchain marketplace for carbon credits

JustCarbon, Likvidi introduce blockchain marketplace for carbon credits

JustCarbon, the marketplace that simplifies offsetting carbon emissions, and Likvidi, a green finance platform to trade and manage DeFi, has recently announced the commencement of an interchange platform for tokenized carbon credits, allowing participants to trade greenhouse gas emissions and reducing their carbon footprints.

JustCarbon recently said that it had opened a marketplace for its JustCarbon Removal Units (JCRs). Likvidi has also recently announced a platform for its LCO2 (Liquid Carbon Credit).

JCRs and LCO2 are the blockchain versions of carbon credits issued by VCS (Verra). Both the companies join a growing band of institutions discovering how blockchain technology can improve environmental management.

Ransu Salovaara, Likvidi CEO and co-founder, said in a statement that the world is now awakening up to the challenges of lowering carbon emissions. Governments alone would not be able to achieve this.

Last summer, China unveiled a carbon trading system. While the University of Cambridge said that it was working on the same project and looking forward to developing a blockchain-based market for trading carbon credits that will support replantation projects for preserving biodiversity via the Cambridge Centre for Carbon Credits.

JustCarbon plans to build a transparent and operative nature-based carbon confiscation marketplace, it said in a press release. The project also aims to offer a way for smaller companies to offset and trade their greenhouse gas emissions.

The tokens have been assembled for operating cross-chain and will be tradable on third-party exchanges.

The platform owned by JustCarbon will be directed by a DAO (decentralized autonomous organization), which means that no single unit or vested interest group will control or own it.

JustCarbon Governance Unit (JCG), a separate token, will simplify community voting and decision-making for the DAO.

JustCarbon has also collaborated with NFT Design Works, a curator, and creator of digital collectables, so that the NFT (non-fungible tokens) can profit from carbon offsetting.

Source Credit - https://www.coindesk.com/business/2022/03/10/justcarbon-likvidi-launch-blockchain-markets-for-carbon-credits/