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Adam Neumann is back. The cofounder and former CEO of WeWork and subsequent subject of the podcast-turned-TV-series WeCrashed now says he wants to fix climate change — with crypto.
Specifically, Neumann wants to put carbon credits on the blockchain. But making carbon credits easier to buy and sell does nothing to solve the real problem with carbon credits and offsets, which is that they’re broken. More easily trading a broken product doesn’t make it any less broken.
Neumann’s new company is called Flowcarbon, and it has big ambitions, which will be backed by $70 million from the crypto arm of the venture capital firm a16z. On its website, Flowcarbon says that the current system of buying and selling carbon credits is built on an “opaque and fractured market infrastructure” and that the carbon credits themselves have “little liquidity, accessibility, and price transparency.” In other words, the problem is the carbon credit market, and...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...