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Introducing JustCarbon
In a nutshell, JustCarbon is a platform using blockchain technology to solve major problems and inefficiencies in the current carbon credits market. In doing so, we aim to bring greater investment and funding to carbon removal projects.
You would think that a market some two decades old and which deals with large amounts of money would be relatively high-tech. Unfortunately, it isn’t.
Carbon reduction and removal projects are verified manually, carbon credits are bought and sold via phone calls, and registries of carbon credits are literally just basic databases.
Since the market is so reliant on manual processes, it is also highly centralized. This inefficient system benefits the middlemen ─ brokers and retailers ─ but not the actual projects themselves.
What’s more, brokers and retailers overemphasize co-benefits, such as a project’s contribution to biodiversity, when selling carbon credits. Co-benefits are important, of course, but the lack of transparency causes confusion around the true value of carbon credits.
As a result, the price of carbon credits fluctuates wildly and the market is fairly illiquid, slowing down the rate of funding and project development.
It also shuts people out from buying carbon credits to offset their emissions. People want to take responsibility for their carbon emissions by funding projects but can’t deal with the slow-moving bureaucracy.
Our platform removes the middlemen and friction from the process, allowing companies and individuals a simple way to offset their carbon and contribute to high-quality carbon removal projects.
By ensuring the quality of every project or carbon credit transferred to our platform, JustCarbon creates a fair and consistent price across the carbon offsetting market. We achieve this by only featuring assets from robustly designed and measured, nature-based projects, that maintain or add new sequestration capacity to the planet’s ecosystems.
Our platform has been developed partly by Adrian Rimmer, a founder and former CEO of The Gold Standard, one of the major verifiers of carbon offsetting projects. The Gold Standard uses cutting-edge verification processes to ensure that Carbon Credits are from the highest quality projects.
By only sourcing carbon credits that are a) VCS (Verra) and Gold Standard verified, b) created within the past 6 years, and c) use nature-based CO2 removal, JustCarbon ensures that all projects meet the highest possible standards.
And by cutting out the middlemen in favor of a highly-secure public blockchain, we can provide unprecedented transparency and equity. Want to know where your money is going? Simply use our blockchain explorer to see a complete chain of provenance back to the original carbon removal project.
Project developers specializing in carbon removal projects, as well as holders of carbon credits, can apply to list their assets on JustCarbon. If the asset meets our strict quality standards, our platform will create, or ‘mint’, a JustCarbon Removal token (JCR) for every carbon credit or tonne of carbon sequestered which can then be stored or sold.
Companies or individuals can purchase JCRs from their preferred exchange, or directly from JustCarbon. JCRs can be traded on any reputable exchange or ‘burnt’ in order to offset their unavoidable carbon emissions. Read more about how carbon offsetting works.
To ensure a fair and transparent price, automatic market making will dictate the price at any given time across the world. So no more wild fluctuations or local variation.
Project developers can also view real-time prices on platforms trading in JCRs, allowing them to make informed decisions on the timing of sales into liquid secondary markets.
It’s a win for project developers, a win for anyone wanting to offset their carbon emissions, and a win for the environment as more money goes to fund carbon removal projects.
As well as democratizing and decentralizing the carbon offsetting market, JustCarbon is going one step further. We are decentralizing our entire business.
JustCarbon is already transitioning to become a Decentralised Autonomous Organisation (the JustCarbon DAO). It will be fully operated and controlled collectively by holders of the JustCarbon Governance token (JCG) who will bring forward proposals and share in voting.
JCG tokens will be gradually distributed over a 10-year period, primarily as incentives for participation in voting and use of the JustCarbon ecosystem. And, since they won’t be linked to the JCRs, there is no disincentive for burning tokens to offset carbon. JCG holders, however, will receive a discount on transaction fees, incentivizing the use of the JustCarbon platform.
We’re inviting all companies, individuals, and stakeholders to join JustCarbon. Help us democratize carbon markets for all and accelerate carbon capture – a crucial tool in tackling the climate crisis.
Last modified 1mo ago