What is Carbon Offset Initiative

The world pollution generated by carbon-led production and globalisation is reaching repetitive peaks and is a major threat to our future. Efforts are being made by various governments, industrialists or institutions but at a too low rate, due to various factors such as short-termism or misconceptions.

The current generation of Heads of States or CEOs was shaped in a fossil fuel economy and has a hard time understanding that the needed green actions are not expenses but investments.

Our team sincerely believes that the ‘’green revolution’’ will be as impactful as the ‘’internet revolution’’ or the “industrial revolution” in terms of innovation and employment as well as investment opportunities.

Our objective is to solve problems in a new manner by combining our team’s experience and network with digitalisation and blockchain, both being powerful resources for implementation and success.

Our research shows that the shipping sector is ideal for carbon minimization potential and that a proper disposal of its waste oil is even carbon negative.

COI, the acronym for Carbon Offset Initiative, closely reflects both our intention as well as the concrete results we aim at: Carbon Offsetting by optimizing the ’’bunker fuel-oil to slops to energy’’ cycle and the management of waste and emissions. This optimization process renders the recovered fuel-oil carbon negative, as in contrast to crude oil, it does not have to be explored, produced, refined and transported, thus decreasing significantly the carbon footprint.

This may sound disappointing but the fact is that oceans are polluted by oil on a daily basis from oil spills, routine shipping, run-offs, and dumping. Ships and other water vessels cause a lot of pollution through dumping waste oil(slops) in water bodies which in turn adversely affects aquatic life forms. Eventually, we as humans are affected Healthwise because the ocean is a great source of food. It is not only people who are affected because animals also tend to consume fish and ocean water.

Findings mean stopping water pollution from oil spills should be a top priority for every person. Study shows that oil spills make up about 12% of the oil that makes its way into the ocean with the rest coming from shipping travels, drains, and dumping. Oil cannot dissolve in water and it forms a thick sludge in the water, making it one of the worst types of pollutants. It is important that the world finds solutions to this problem which has been an issue for a long time.

The world and governments at large need to realize that investing in ‘green’ projects is not a waste of funds but instead a great initiative towards achieving greener earth eventually.Today,I will introduce to you an amazing project which is not only based on blockchain technology but also greatly focuses on gathering ship owners in a single platform to make management of their vessels much easier.

Before we get to that, I want to list some of the environmental consequences of oil spillage in waterbodies to show the severity of this issue.

Oil spills tend to coat everything along their way which means when this oil makes its way to a beach, it coats every rock and sand grain. This eventually affects tourist attraction beaches consequently making the governments of such countries lose tourists and money in the process.

When oil makes its way to wetlands, the plants there are adversely affected by absorbing the oil making such areas uninhabitable by any wildlife.

When oil finally stops floating, it begins to sink into the marine environment and the results are extreme damage to the fragile underwater ecosystems. This leads to fish and other small organisms dying or getting contaminated and the global food chain is disrupted.

When you browse through the internet, there are images of oil-covered birds all over which is a universal symbol of environmental damage caused by oil spills. This is indeed sad to watch because while some of the offshore birds might manage to fly and escape the oil spills, those that dive into the ocean for food are not as lucky. Not only is the bird not able to fly with all the oil clogged on its wings, but it also faces serious health issues from the toxic substance.

There are frequent cases of marine mammals dying all the time from oil spills. Whales, dolphins, seals and sea otters are species of mammals that we should be preserving, not killing. In a few years, the human race will no longer be able to depend on the waters as a source of food or for exploration.

CO Initiative.

The severity of environmental damage caused by oil spills is numerous and extreme but it is not time to give up yet. Today’s article is focusing on CO Initiative project, which is a blockchain-based project that looks to revolutionize the shipping sector. The majority of these unnecessary oil spills are because of the lack of proper management of ships and other water vessels. The majority of ship owners cannot be on board the ship on a full-time basis, which is why it was necessary to come up with a platform where these ship owners can have access to efficient data about their ships from a single platform.

Blockchain technology has made waves globally since its creation and there are several reasons for that. Blockchain looks to provide technological solutions to challenges that have plagued thousands of industries globally. The reliability of blockchain technology is not questionable because apart from having a high level of security, the transaction processing speed is equally swift.

With blockchain, people who have common interests are connected in a single platform where they get to interact, carry out business or have access to important information.CO Initiative is no different as it is a platform which will consist of ship owners from all around the world. The CO Initiative project plans to have automated devices that will be deployed to various ships for the purpose of collecting important data on various external parameters that affect consumption and emission and then transmitting the measures back to the control center via satellite or GSM.

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Ship owners who are part of the CO Initiative platform will then be able to have access to important data from the platform. Risk management is going to be greatly improved via CO Initiative and the shipowners will also be able to optimize bunker fuel consumption and purchase. Such an initiative will make sure that oil spills are eliminated thus helping solve this long-term menace which has cost the world so many life forms already.

Once again, Blockchain technology has managed to revolutionize another important industry, the shipping industry. Ships and other water vessels play an important role in the global economy because they serve as a mode of transport for both people and cargo. Finding a way to ensure that these important vessels are not only greatly managed but also get to travel without all the unnecessary oil spills is a great win for all of us. All this will be possible with the launch of the CO Initiative, an incredibly innovative and promising blockchain-based project.

The official resources of the project Carbon Offset Initiative:

WEBSITE: https://co-initiative.io

TELEGRAM: https://t.me/coinitiative

WHITEPAPER: https://co-initiative.io/wp-content/uploads/2019/10/v1.2-COI-WP.pdf

BITCOINTALK: https://bitcointalk.org/index.php?topic=5194812.0

FACEBOOK: https://www.facebook.com/Carbon-Offset-Initiative-101959777895131/

TWITTER: https://twitter.com/CarbonOffsetIn1

MEDIUM: https://medium.com/carbon-offset-initiative

LINKEDIN: https://www.linkedin.com/company/carbon-offset-initiative/about/

INSTAGRAM: https://www.instagram.com/carbon_offset_initiative/

YOUTUBE: https://www.youtube.com/channel/UCngxZI3itQHV3Tfl76TH48Q

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Profile:https://bitcointalk.org/index.php?action=profile;u=1252736

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