The Adam Neumann-backed company, Flowcarbon, has raised $70 million in a first round of funding.
Sorry, you didn’t catch that the first time? It’s a “blockchain-enabled carbon credit trading program.”“Flowcarbon operates at the intersection of the voluntary carbon market and Web3, leveraging blockchain to scale climate change solutions.”Their stated mission is, “to drive billions of dollars directly to projects that reduce or remove carbon from the atmosphere by creating the first open protocol for tokenizing live, certified carbon credits from projects around the globe.
To attempt some translation: It’s a company that makes carbon offset projects into crypto tokens for companies to buy and sell. Why? According to Flowcarbon, they’re trying to use the blockchain to build an easier, more accessible, and more transparent system of exchange.
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