❓Why Ethereum Protocol Was Selected To Issue Carbonis Tokens

The Ethereum blockchain is chosen for issuing Carbonis's CO2e ERC20 token primarily due to its established infrastructure, widespread adoption, and ongoing innovations aimed at enhancing its sustainability. As of 2023, there are approximately 84.02 million crypto wallets globally, indicating a vast user base and potential for token distribution and utilization within the Ethereum ecosystem (Coinweb).

Ethereum's transition to a Proof of Stake (PoS) consensus mechanism is a significant step towards reducing its carbon footprint, aligning with the environmental goals of carbon offset initiatives. This transition is estimated to reduce Ethereum's energy consumption by approximately 99.95%, which is crucial for projects like Carbonis that aim to leverage blockchain technology for ecological benefits (CoinDesk).

The voluntary carbon market, which Carbonis is likely to engage with, allows participants to offset emissions by purchasing carbon credits. Each credit represents a metric ton of CO2 reduced, avoided, or removed from the atmosphere. This market is expanding rapidly, with projections suggesting it could be worth over $50 billion by 2030. Ethereum's transparent and decentralized nature could enhance the accessibility and efficiency of trading these credits, providing a reliable and scalable platform for Carbonis's initiatives (S&P Global).

Despite Ethereum's promising framework for carbon credit tokenization, it's essential to acknowledge the complexities and criticisms surrounding carbon credits. These include concerns about their effectiveness and the potential for greenwashing. However, the blockchain's transparency and traceability could address some of these issues by ensuring that carbon offset projects are verifiable and accountable (CoinDesk).

In conclusion, Ethereum's broad adoption, infrastructure for ERC20 tokens, and ongoing efforts to minimize its environmental impact make it a suitable choice for Carbonis's CO2e tokens. The blockchain's potential to enhance the transparency and efficiency of the carbon credit market aligns with the project's goals of promoting ecological sustainability through innovative technology.

Carbonis Inc. (Background)

Incorporated in state of Wyoming in U.S. (August 22, 2022)

• 30 N Gould St Ste R, Sheridan WY 82801

• EIN: 30-1323735

• NAICS Code: 424690

• SIC Code: 5169

• Dun & Bradstreet D-U-N-S Number 118804971

• MSB (US) license application in process

• Self-custodial wallet protocol with secured Multi-Party Computations (MPC) developed yet to deploy

• ISO 27001, ISO 20022 and ISO 4217 (Protocol been developed and awaiting token mint to accreditation).

• CryptoCurrency Security Standard (CCSS) - protocol developed awaiting token mint to process

• Company website: https://Carbonis.uk

• Social media: X.com/Carbonis_uk