Co2Bit To Use AI For Carbon Credit Offsets

Co2Bit To Use AI For Carbon Credit Offsets - Carbon Herald

Co2Bit Technologies (Co2Bit), a forward-thinking technology company dedicated to developing innovative solutions for a sustainable future, is excited to announce the development of an advanced AI-based system designed to comprehensively assess environmental impacts. This groundbreaking system evaluates habitability, environmental sustainability, and humanity-centric factors, with a unique emphasis on the consistency of ratings.

The goal of carbon credit offsets is to reduce the emission of greenhouse gases into the atmosphere. Between 2020 and 2021, the carbon commodities market surged from $270 billion to $851 billion. Plagued by inconsistencies, difficulties managing, and limited tracking of the broader impact of these projects, the voluntary carbon credit market has floundered and nations outside the EU are marginal participants. Resolving these issues and expanding the scope of impact analysis and making voluntary offsets more attractive to the private sector will enable the projected market expansion to $22 trillion of various offsets by 2050.

Relevant: GAS LAB And Carbonetics To Collaborate On New AI-Driven CO2 Capture

Recognizing this global demand for precise environmental action assessments, Co2Bit is at the forefront of developing a sophisticated AI solution to measure and score long term project impacts. By implementing AI tools and technologies into the process, the markets can rely more heavily on the accuracy of the data, which should increase the inherent value of more expansive climate impact initiatives to emitters in need of offsets. Co2Bit system provides a holistic evaluation, including carbon emissions, habitat preservation, social well-being, and overall environmental stability and sustainability.

Introducing three distinct scoring systems—habitability, environmental, and humanity scoring—the Co2Bit AI system offers a nuanced understanding of a project’s long term impact on the planet, ecosystems, and communities. This comprehensive scoring, to ensure fair and consistent ratings, goes beyond traditional metrics, providing a holistic assessment. Co2Bit Technologies has initiated the early stages of system development, with beta testing scheduled to commence in Q2 2024. This phase allows stakeholders to experience the capabilities of the Co2Bit system firsthand and provide valuable feedback for further refinement.

As per Ronald J. Wilkins, Chairman at Co2Bit Technologies. “Our AI-based system is committed to empowering businesses to make informed decisions that prioritize sustainability and positively contribute to our planet. This includes ensuring consistency in ratings, aligning with the global trend of corporations and nation states actively demonstrating their commitment to environmental stewardship.”

Relevant: Switzerland And Thailand Made The First Ever Carbon Credits Deal Under Article 6.2

Co2Bit has already been used to acquire and protect over 100 million trees in the Brazilian Rainforest, saving them from fires by clearing and maintaining the underbrush and using controlled burns to ensure that they are preserved. As importantly, it provides constructive employment and the commensurate economic opportunities for scores of native Amazonians.

Co2Bit has national agreements and is partnered with many countries including China, Brazil, Madagascar, Guinea Conakry, Central African Republic (RCA), Gabo, Mali, Zimbabwe, Angola Ivory Coast, Gambia, Nigeria, Sierra Leone, Niger, Somalia, Guinea Bissau, Congo Brazzaville, Comoros, Kenya (MSEA), Haiti, Djibouti, Armenia, and the Democratic Republic of Congo (DRC).

Co2bit Tech’s unique Blockchain Assets – Co2A (currently trading at $20USD on UniSwap) and Co2B are anticipated to be trading soon on other decentralized exchange platforms.

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