Kyoto Network CEO Sheraz Malik spoke at the conference to demonstrate how blockchain technology can help the shipping industry reduce emissions.
UNITED KINGDOM, March 9, 2022 /EINPresswire.com/ — The shipping industry is the backbone of global trade, with around 90% of traded goods traveling by ship. The International Maritime Organization (IMO) estimates that the shipping industry accounts for nearly 3% of global carbon emissions, making shipping one of the biggest contributors to climate change. With these emissions set to increase by 20% by 2050, ship owners are now required to reduce their emissions to help meet the IMO’s ambitious goal of reducing emissions from international shipping by at least 50%. % by 2050. The goal seemed closer than ever last week, when Malik presented his carbon credit-backed NFTs at the Slide2Open Shipping Finance 2022 conference in Athens, Greece.
These NFTs, called KyotoCarbon tokens, are digital assets that each represent either a fraction of a carbon credit or a combination of several, allowing users to quickly and easily offset their exact emissions. Malik explained that these real, active carbon credits exist in verified standard ledgers, and once they are converted into NFTs, they are stored and traded on the blockchain – a fully transparent and immutable public ledger, which means that all transactions are secure.
The network’s user-friendly exchange offers a much-needed alternative to the laborious, expensive and generally inaccessible purchase processes that currently exist for carbon credits. Malik says “Our decentralized ecosystem gives us the people the ability to own climate change and drive the engine of impact.” The IMO has stated that “shipping will need new technologies, new fuels and innovations to meet GHG targets”. – KyotoCarbon tokens offer the ideal solution, having been designed to allow everyone to participate in the financing of these innovations through carbon offsetting.
Malik attended the event with industry experts from Kyoto Network, Cpt. Gina Darsaklis and naval architect and marine engineer Olympia Papazoglou, to provide attendees with first-hand advice on KyotoCarbon’s usefulness in shipping. The dynamic team explained to participants that unlike other sellers, the Kyoto network does not immediately retire (offset) every carbon credit it sells. Instead, users have the choice to hold their KyotoCarbon tokens for investment purposes. With carbon credits having outperformed both Bitcoin and gold, and prices set to reach $224 by 2029, the Kyoto Network’s innovative rewards system for stakeholders is not the only reason ship owners may want to keep some of their KyotoCarbon.
Through this comprehensive suite of products and services, the Kyoto Network has created the means to facilitate a substantial reduction in emissions from the shipping industry, while providing additional revenue streams to shippers. It is with this harmonious system that they intend to revolutionize maritime transport.
KyotoCarbon will be available for purchase with KyotoCoin, which can currently be purchased at digitorize.com. To learn more about the comprehensive, decentralized Kyoto Network ecosystem for the global carbon credit industry, visit kyotocoin.io.