This startup develops a blockchain-based platform that connects greenhouse gas emitters with carbon sequestration custodians, such as forest and waterway managers, to facilitate direct compensation for carbon offset services. By enabling verifiable carbon credits, the platform allows businesses to effectively balance their emissions with scientifically validated carbon capture efforts.
Funding
$2.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Current carbon offset programs often lack transparency and verifiable data, making it difficult for businesses to ensure their investments are effectively balancing their emissions with real carbon capture. Existing emission trading schemes often provide little financial incentive for stakeholders and owners of carbon sinks to protect or develop effective carbon sequestration methods.
Solution
Oxi-Zen provides a blockchain-based platform that directly connects greenhouse gas emitters with carbon sequestration projects, enabling transparent and verifiable compensation for carbon offset services. The platform utilizes "GAYA" tokens, each representing one metric ton of science-verified carbon sequestration capacity, derived from independent third-party scientific assessments. Emitters can purchase GAYAs to balance their carbon footprint, with 95% of the proceeds going directly to the owners/custodians of the carbon sinks, incentivizing the protection and enhancement of these natural resources. The platform's distributed ledger technology ensures that each GAYA is uniquely tracked and can only be used once, providing a secure and transparent carbon balancing solution.
Target Audience
The primary target audience includes corporations and governments seeking verifiable and transparent carbon balancing solutions, as well as landowners and custodians of carbon sinks looking to monetize their carbon sequestration capacity.
Features
- Blockchain-based platform using Hedera for secure and transparent transactions
- "GAYA" tokens representing one metric ton of science-verified carbon sequestration
- Independent third-party verification of carbon sequestration capacity using methodologies aligned with the UN IPCC
- Integration with RESTOR/ETHZ network for independent verification of scientific data
- Unique geo-coordinates assigned to each metric ton of sequestered carbon
- Carbon Balance Certificates (CBC) generated upon balancing a specific carbon footprint
- Publicly accessible TAO registry for viewing project details
- Alignment with Sustainable Development Goals (SDGs) through Convertor programs