Co2Bit Technologies, a forward-thinking tech company dedicated to sustainability, is unveiling an innovative AI-based system set to revolutionize voluntary carbon credit offsets. The system aims to comprehensively assess environmental impacts, emphasizing consistency in ratings and addressing the challenges faced by the volatile carbon credit market.
The surge in the carbon commodities market from $270 billion to $851 billion between 2020 and 2021 highlighted the market's potential but also revealed inconsistencies and limited impact tracking. Co2Bit's AI solution seeks to resolve these issues, making voluntary offsets more attractive to the private sector and contributing to the projected $22 trillion market expansion by 2050.
Co2Bit's AI system, currently in the early development stages with beta testing planned for Q2 2024, employs advanced tools to measure and score long-term project impacts. The comprehensive evaluation includes carbon emissions, habitat preservation, social well-being, and overall environmental stability. Three distinct scoring systems—habitability, environmental, and humanity scoring—provide a nuanced understanding of a project's impact.
Ronald J. Wilkins, Chairman at Co2Bit Technologies, emphasizes the commitment to empowering businesses to make informed decisions prioritizing sustainability. The AI-based system aligns with the global trend of corporations and nations demonstrating environmental stewardship.
Co2Bit has already demonstrated success by acquiring and protecting over 100 million trees in the Brazilian Rainforest, offering constructive employment and economic opportunities for native Amazonians. The company has national agreements and partnerships with numerous countries, furthering its impact on a global scale.
Co2Bit's unique Blockchain Assets, Co2A and Co2B, are anticipated to trade on decentralized exchange platforms. The company, utilizing blockchain technology for transparent finance, aims to address environmental challenges and contribute to a more sustainable and resilient world.
Source: Co2Bit
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