Carbon Credit NFTs take Maritime Industry by Storm at Slide2Open Shipping Finance 2022

Sheraz Malik, CEO of the Kyoto Network, spoke at the conference to demonstrate how blockchain technology can help the shipping industry reduce their 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 vessel. The International Maritime Organisation (IMO) estimates that the shipping industry accounts for almost 3% of global carbon emissions, making shipping one of the biggest contributors to climate change. With those emissions expected to increase by 20% by 2050, there are now mandatory requirements for ship owners to reduce their emissions to help achieve IMO’s ambitious target to cut international shipping emissions by at least 50% by 2050. But this all-too-distant goal seemed closer than ever last week, when Malik introduced his carbon credit backed NFTs at the Slide2Open Shipping Finance 2022 conference in Athens, Greece.

These NFTs, called KyotoCarbon tokens, are digital assets which each represent either a fraction of a carbon credit or combination of multiple, allowing users to quickly and easily offset their exact emissions. Malik explained that these real and active carbon credits exist under the verified standard registries, and once they are converted into NFTs they are stored and traded on the blockchain - a completely transparent and immutable public ledger, meaning all transactions are secure.

The network’s user-friendly exchange offers a much-needed alternative to the laborious, expensive and generally inaccessible buying processes that currently exist for carbon credits. Malik states “Our decentralised ecosystem gives us, the people, the opportunity to take ownership of climate change and drive the engine for impact”. The IMO has stated that “Shipping will need new technologies, new fuels and innovation to meet the GHG targets.” - KyotoCarbon tokens offer the ideal solution, having been designed to allow anyone and everyone to help fund these innovations through carbon offsetting.

Malik attended the event with Kyoto Network’s very own industry experts, Cpt. Gina Darsaklis and Naval Architect and Marine Engineer Olympia Papazoglou, to offer attendees first-hand advice on KyotoCarbon’s utility in shipping. The dynamic team explained to attendees that unlike other sellers, the Kyoto Network doesn't immediately retire (offset) every carbon credit they sell. Instead, users have the choice to hold their KyotoCarbon tokens for investment purposes. With carbon credits having surpassed both Bitcoin and gold in performance, and prices expected to reach as high as $224 by 2029, the Kyoto Network’s innovative rewards system for stakeholders isn’t the only reason ship owners may want to hold onto some of their KyotoCarbon.

With this comprehensive range 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 for shippers. It is with this harmonious system that they plan to revolutionise maritime transport.

KyotoCarbon will be available to buy with KyotoCoin, which can currently be purchased at digitorize.com. To learn more about The Kyoto Network’s comprehensive and decentralised ecosystem for the worldwide carbon credit industry, visit kyotocoin.io.

Victoria Preston
Digitorize
victoria@digitorize.com
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