Flowcarbon, the startup that uses blockchain technology to put carbon offset credits on-chain, announced new key blockchain market infrastructure partnerships. The company will integrate with automated market maker protocol Ubeswap, transaction router and software development kit Node Finance, the Valora mobile wallet, and Ubeswap-enabled dApp Flywallet.
The partnerships will aim to create infrastructure for using Flowcarbon’s tokenized carbon credits across applications and functionality on the Celo blockchain – the open-sourced proof-of-stake blockchain designed to support stablecoins and tokenized assets.
“We are integrating with best-in-class partners to create limitless possibilities for enabling people to get personally involved in offsetting their own carbon footprint,” said Phil Fogel, Chief Blockchain Officer at Flowcarbon.
Flowcarbon is a decentralized carbon marketplace where private actors voluntarily buy and sell carbon credits that represent certified removals of greenhouse gases.
According to Mr. Fogel, the company is building the market infrastructure for carbon credits in a much more seamless way, addressing pain points, inefficiencies, and the high costs of the current OTC market.
Flowcarbon wants to make sure people get transparent pricing and eliminates layers of manual processing and brokerage fees which unlocks access for individuals and small businesses.
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One of the new integrations of Flowcarbon is with Ubeswap which offers the full capabilities of the Celo protocol.
It enables Celo users and applications to trade between any two ERC20 tokens and provides the decentralized infrastructure that enables the integration of tokens into applications across the Celo ecosystem. This way Flowcarbon tokens, like GNT, can be used for everything from offsetting to lending.
More Flowcarbon integrations are with Node Finance App, Valora and Flywallet. Node Finance App provides behind-the-scenes transaction routing between applications on the Celo platform, so users can transact with fewer steps and determine the best available price for GNT. This solves the problem of the lack of price transparency for carbon offset credits.
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Valora offers an easy-to-use experience for people that are new to crypto. It provides people with an easy way to buy, hold, and use Celo assets across Web3 dapps, including Flowcarbon. It offers a way for retail users to offset their carbon footprint from their mobile phones. Flywallet enables users to save up money for flights and offset the carbon footprint of those flights.
Pioneering carbon marketplaces like Flowcarbon are critical for the industry to bring carbon removal projects to people’s hands. Anyone being able to invest in climate change solutions unlocks an array of opportunities for the growing carbon removal sector.