Former WeWork CEO’s Blockchain Startup to Launch its Own Token

Flowcarbon, the blockchain-focused startup from former WeWork CEO Adam Neumann, has delayed new product launches due to unfavorable market conditions, The Wall Street Journal has reported citing the company’s co-founder and CEO Dana Gibber.

The company is focused on building a carbon credit market based on blockchain technology.

Most of these instruments are sold through intermediaries or the issuers themselves. According to many critics, the process is complex and opaque.

Billionaire Mark Cuban has said in a conversation with the WSJ:

“As someone who bought credits from brokers in the past, buying and burning tokens is far, far easier.”

The startup is developing a platform that allows Goddess Nature Token (GNT) to be burned to offset CO2 emissions.

The launch of the GNT was scheduled for the end of June, however, it has been postponed indefinitely. According to Gibber, the company has decided to “wait until the markets stabilize”.