Blockchain-Based Carbon Platform Launches DAO Governance Token

Announcements, Blockchain, Innovation, News | May 16, 2022 By:

Carbon offset marketplace JustCarbon is currently preparing to launch their governance token, the JustCarbon Governance Unit ($JCG).

JustCarbon is a blockchain-based carbon platform, where users can mitigate their carbon emissions by purchasing and retiring (‘burning’) JustCarbon Removal tokens (JCR). One JCR token equates to exactly one tonne of carbon removed from the atmosphere. JustCarbon claims to be the first blockchain carbon ecosystem to commoditize carbon dioxide removal, specifically, using credits derived from the highest-quality, nature-based projects and verified to the highest international standards.

In a press release, the company announced that a limited edition of 5 million $JCG tokens will be made available to early supporters on Copper Launch, running from 17th ─ 19th of May from 9am BST. On Monday 23rd May, the $JCG will launch across multiple exchanges, including Digifinex, Coinsbit, LAToken, Coinstore, Chintai, The Crypto Climate Exchange, Uniswap, P2PB2B and XT.

Holders of $JCG tokens will be able to take part in governing the Decentralized Autonomous Organisation (DAO), which will control and vote on the direction of JustCarbon and how it will play a part in the overall fight against climate change.

“The carbon market is in urgent need of decentralisation. Too many middlemen profit from carbon offsets, siphoning funds away from essential climate action,” said John Auckland, co-founder of JustCarbon. “By shifting the outdated carbon market onto the blockchain, our mission is to cut out the middlemen, increase transparency and deliver new levels of funding to essential carbon removal projects. Community ownership is an essential part of that mission. Our transition into a DAO over the coming year will democratise our new carbon marketplace, putting the fate of the planet into the hands of a global community of committed individuals, rather than being held by any single government or a small number of businesses.”

JustCarbon is seeking to build confidence in carbon market currently under scrutiny for a lack of transparency leading to accusations of greenwashing. The goal of the company is to overcome these issues by offering high-quality carbon offsets, complete transparency and community ownership.

“Markets drive action. However, without the correct governance and transparency, they don’t work properly. Unfortunately, carbon markets have been plagued by greenwashing, bad credits and double counting, as well as a ‘sweeping the floor’ approach that has only served to incentivise low-quality credits and zombie projects,” said Auckland. “JustCarbon brings blockchain technology to the carbon market to overcome these issues, offering high-quality carbon offsets, complete transparency and community ownership.”