The JustCarbon platform enables the financing of carbon dioxide removal (CDR) from the atmosphere via its unique JustCarbon Removal Unit (JCR). The JCR token is only created once a tonne of carbon has been independently verified against internationally accepted standards as having been removed from the atmosphere (or avoided, in the case of avoided deforestation activities).
The purchase of a JCR does not in itself constitute any pollution offset unless the token is ‘retired’, that is, permanently removed from circulation by ‘burning’ the token: a decision that lies with the owner/s of each unit.
The platform, which will be run by a decentralised autonomous organisation (DAO), is not owned by any single entity or government and does not exist in any one country. This ensures transparent and balanced governance by all who participate on the platform and support active carbon removal by developing projects, providing relevant services (e.g. certification and verification) or purchasing JCRs.
The governance system (JustCarbon Governance unit, or JCG) exists as a separate unit of voting power and is also covered in this whitepaper. The DAO will assume effective governance of the JustCarbon platform with a foundation managing the system until the transition is complete. JCG users also receive a discount on transaction fees relating to their JCR activities, meaning there is also a financial reward for being active on the platform and involved in the ecosystem.
Staying true to its fundamental principles, the JustCarbon platform is built on the most energy-efficient technology available today. In addition, JustCarbon will offset any emissions that are inevitable.
JCGs will be donated to key stakeholders in the carbon markets, including major verifications bodies, foundations, project developers and relevant civil society groups and NGOs s. Then subsequently users will receive JCGs based on their ongoing support and involvement in the platform. In this way, JustCarbon is fully democratising both the marketplace for carbon and its governance.