Monday, June 17, 2024
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Climate tech firm Flowcarbon joins hand with Celo to build carbon market infrastructure

Flowcarbon, a climate technology business firm, has partnered with the Celo Foundation, the world’s first carbon-negative blockchain. They reveal the launching of a carbon-market ecosystem that will let carbon credits be sold on the Celo network using Flowcarbon’s Goddess Nature Token (GNT). 

The collaboration includes the acquisition of at least $10 million in GNT, as well as the creation of liquidity and development of the carbon trading market more transparent, clear, and available to buyers and sellers.

According to Phil Fogel, co-founder of Flowcarbon,

“Celo is carbon-negative, and also the value of environmental assets is embedded into its ethos, giving it the most natural basis for constructing solutions to climate change on-chain. Sep, Marek, and Rene, Celo’s founders, are so much involved in a manner in this purpose that no other layer-1 ecosystem does.”

The CELO business model, which involves the implementation of smart contracts on mobile phones and the use of phone numbers as public keys, intends to bridge the gap between the real world and the concept of trading with cryptos.

The collaboration will jump-start Celo’s emerging regenerative finance (ReFi) ecosystem by using Flowcarbon’s infrastructure to stimulate demand for environmental assets by laying the groundwork for an on-chain carbon market. The inclusion of GNT on Celo will assist to establish standard pricing for carbon credits on the blockchain and build the framework for an on-chain market where further services may be built-out with other ecosystem partners.

Flowcarbon and Celo’s carbon market ecosystem will provide project developers with quick access to an open marketplace to trade their credits. 

About Flowcarbon

Flowcarbon is a leader in climate technology, bringing carbon offsets to the blockchain. Its objective is to make carbon markets more accessible and transparent, allowing huge money to be spent directly on climate change projects.

About Celo

Celo is a carbon-negative, layer-1 protocol with a robust ecosystem of worldwide partners developing new Web3 apps in the DeFi, ReFi, and NFT sectors to support the Celo community’s objective to build an open global financial system.

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