The Carbon Offset Initiative (COI): A Green Solution Founded by EU Business School Faculty and Students

Earth is home to the human race and other life forms which is enough reason to want to do anything in our power to protect it. The sad part is that the major contribution to environmental pollution is irresponsible and harmful human activities. Industries and factories all over the world which carry out extensive and waste generating production activities dump their waste into water bodies or inhabited areas without caring about the consequences that such waste will have on the environment.

People are the hugest contributors to environmental pollution as I have mentioned above and unless we find a solution to such issues, earth as we know it could end. Environmental pollution contaminates the physical and biological components of the earth to the extent that normal environmental processes are adversely affected. The main reason for environmental pollution is the over exploitation and overuse of natural resources to a point where it exceeds nature’s capacity to restore itself.

Blockchain technology.

Technology is always evolving with new innovations emerging every other day. First, it was the phenomenal internet revolution which created a huge buzz and changed almost every sector of our lives. A few years back, however, there was the emergence of a new type of technology that provides solutions to real-world problems. I am talking about blockchain technology, the new decentralized technology that looks to simplify people’s lives by returning control and power back to the people.

Blockchain is associated with numerous benefits over other types of technologies the major one being that it is decentralized. Decentralization involves the fair distribution of control and power whereby the customer has full control over their funds. Blockchain also comes with extreme ease to use and security which is rare in conventional technologies and systems. Transaction processing is also incredibly swift with blockchain technology, which is one of the major reasons people are adopting digital assets as means of trading or investment.

Waste oil (slops) from vessels.

A study has shown that there are around 53 thousand merchant ships that are involved in transporting goods for the world and they use about 450 million tons of bunker fuel. These vessels also produce large amounts of waste which are rich in hydrocarbon. These slops are comprised of bilge water which is basically a mixture of fuel oil, seawater, cooling water, oil leaks, freshwater and lube oils. There is also sludge which is a by-product of waste treatment in the engine rooms of the ships and finally ballast water which is utilized in older tankers to stabilize the ship.

Carbon Offset Initiative.

Today, I want to introduce to you an incredibly innovative and amazing project which is going to play a big role in minimizing water pollution. Water pollution has been a menace that is threatening aquatic life forms as well as human and animal health because water is a basic necessity for survival. However,CO Initiative is a blockchain-based project which is run by professional individuals who have extensive experience in waste recycling.CO Initiative is specifically involved in the management and recycling of oily waters and slops and it is guaranteed to be a success because of the highly experienced team behind it.

Shipping companies and owners have three major concerns which include the concern of whether the recycling job has been legally executed in a quality and timely manner. The second is the concern of whether the parties involved have been paid as per the agreements and finally the possibility of overpayments.

CO Initiative has incorporated the powerful blockchain technology to come up with a cheap, easy to operate and implement a solution to the issue of illegal spillage and fuel theft. The CO Initiative solution involves remote monitoring of bunker and waste processing on a platform that is very user-friendly for ship owners.

Carbon Offset Initiative features.
The CO Initiative system is comprised of a hardware and software layer. The hardware layer is all about devices that will collect and transmit the data which has been collected. The ships will be equipped with devices that are automated to measure the quantities of bunker fuel and slops at each stage of the process, measure the cargo in the case of tankers.

The automated devices will also track the quality of the slop by measuring the density and composition of the oily water at various levels. Finally, these devices will also register various external parameters that affect consumption and emission and then transmit these measures to the control centers via GSM or satellite.

The software layer is comprised of various core modules that will ensure extensive data processing to ensure ship owners have reliable information on how their vessels are running as well as slop management and recycling.

Why become a part of the CO Initiative project?
In this time and era, it is important to keep up with technological advancements and one such way is to become a part of a blockchain-based platform such as CO Initiative. As a shipowner, being a part of CO Initiative is going to benefit you in various ways. You are going to be able to receive trustworthy data to allow effective risk management as well as optimize bunker fuel oil purchase and consumption.Additionally,there is the benefit of being able to monitor your vessel(s) activities in real-time and cross-checking your vessel(s) data with external factors to determine their impact on the efficiency of the ship(s).

🔗 Website: https://co-initiative.io/
🔗 Twitter: https://twitter.com/CarbonOffsetIn1
🔗 Facebook: https://www.facebook.com/Carbon-Offset-Initiative-101959777895131/
🔗 Linkedin: https://www.linkedin.com/company/carbon-offset-initiative/about/
🔗 Telegram: https://t.me/coinitiative
🔗 Youtube: https://www.youtube.com/channel/UCngxZI3itQHV3Tfl76TH48Q
🔗 WhitePaper: https://co-initiative.io/wp-content/uploads/2019/10/v1.2-COI-WP.pdf
🔗 OnePager: https://co-initiative.io/wp-content/uploads/2019/10/OnePager-COI.pdf
🔗Medium: https://medium.com/carbon-offset-initiative

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