FAQ

What is Carbon Offset Initiative (COI) ?

Carbon Offset Initiative (COI) is a green solution for waste and data traceability, applicable to different industrial spheres. It currently focuses on the shipping industry through the use of blockchain technology, enabling increased productivity, collection, tracking, and recycling of waste from different sources. COI aims to help organizations save energy, cut expenses, and build a broader commercial value while resolving environmental and social issues.

Why COI ?

An economy that puts profit above people and the planet has no future. The push toward sustainability in the 21st century is on its way to change business as much as the Industrial Revolution did in the 19th century, and the Internet revolution did in the 20th century. Carbon Offset Initiative starts with an impactful traceability solution for a critical pain point in the shipping industry, but our pipeline of solutions for such major pain points spreads over multiple industries. Our ambitions for greening the world big, and so are our competencies and expertise that lead to COI’s success.

What is the legal structure of the COI?

Carbon Offset Initiative d.o.o. is a limited liability company based in Ljubljana, Slovenia. It is an Information Technology company that provides a range of environmental services in terms of software and hardware solutions to companies in need of innovative sustainable solutions, cost savings, environmental compliance, waste management consulting, productivity increase, and much more.

Is COI a sustainable project?

Yes, it is! In COI, we are committed to making all of our business activities as green as possible. Оur founding partners have been involved in sustainable businesses for years because they understand that sustainable businesses are soon going to be only businesses. Our solutions are entirely based on renewable energy, and the materials that we use are recyclable. Our goal is to be a company with great environmental and Corporate Social Responsibility vision and activity, and we are committed to pursuing only the highest standards in these dimensions.

What is the Blockchain and why do you use it ?

Initially, blockchain is a growing list of records, called blocks, which are linked by using cryptography. Each block contains a cryptographic hash of the previous block, timestamp, and transaction data. By design, a blockchain is resistant to modification of the data. It is an open distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. For the use of a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires the consensus of the network majority.

Carbon offset initiative’s ecological sensors that are installed in bunker and slops tanks of ships and cruisers, collection truck and in recycling center tanks, before and after recycling process, measure the quality and quantity of the liquid inside and also the temperature and humidity of the tanks, in order to record all data parameters every few seconds on blockchain ledger.

We use blockchain technology to track the quantity, quality and other parameters of bunker oil and slops that are being used and produced, and further transferred to recycling centers to be recovered or decomposed in a non-toxic way, so that the final products are oil, water, and sewage that can be used after being sustainably treated.

Blockchain is the best solution for such operations because it provides immutability and security, and there is no possibility to manipulate the data, and that is precisely what we need.

What is ICO ?

ICO, initial coin offering is a model to raise funds for a new project, which is based on the Blockchain. In this model, Blockchain developers come up with an innovative idea, they show their project to the investors and offer some units of new cryptocurrency or crypto-token in the exchange against cryptocurrencies like Bitcoin or Ethereum. These tokens are similar to the share of a company sold to investors. If the money raised does not fulfill the minimum amount required by the company, then the funds are returned to investors, and such ICO considered as unsuccessful.

Why do you go for an ICO/IEO hybrid ?

In COI, we think that our investors should have more options than just one, and that is why we are allowing them to participate in an ICO through our web application and in an IEO through our partnering exchanges. The main reason behind the idea of doing the ICO/IEO hybrid is simple. We want to democratize the investing process and to enable as many people who support our sustainable idea to contribute in their preferred way, and together bring back the sustainable environment that once we had. We want our investors to actively participate in our green business activities through referendums, benefit from it, and learn more how they individually can make a difference. In COI, we care about you and your opinion.

How many rounds of IEO are you doing ?

We are doing the maximum number of IEO rounds, which is four because we want as many people as possible to participate in our sustainable project and support a greener planet. Each round will last four weeks, and each round will have a different discount for the COI Tokens.

During and between the IEO rounds, investors will always have the possibility to participate in the ICO through co-initiative.io. There will be no price difference between the IEO and ICO participation.

What is the KYC and why is it needed?

Know your client/customer (abbreviated as KYC) is a term of the banking and exchange regulation for financial institutions and bookmakers, as well as other companies working with private money, meaning that they must identify and establish the identity of the counterparty before conducting a financial transaction.

This requirement extends to obtaining information about counterparties-legal entities, the nature of their business, and certain business transactions for which a financial transaction is being conducted.

Who is behind COI ?

We are an exceptional team of world-class experts, with a solid track record in green businesses and initiatives on a global, European, and local levels. COI is the result of forces merged between Clean Sea Services S.A. and Urban Management d.o.o. Our business and engineering background comes from Harvard Business School, INSEAD, EPFL, EUBS, Sustainability Management School, and other higher education institutions. Our project is conceived at a top business school spanning across Europe – EU Business school, where five of our team members lecture. We are very proud to have a perfect 50/50 blend of seasoned industry experts and young, smart, and ambitious millennial and centennial professionals who are committed to live in a green world.

How does COI solve present environmental issues?

With our extensive experience in waste recycling, we have been deeply involved in the reality of the recycling processes of oily waters and slops. After we have identified the control problem as a root cause for illegal spillage and fuel theft, we have devised a cost-efficient, easy to implement and operate solution for remote monitoring of bunker and waste processing based on innovative blockchain technology. The ability to track waste management processes and inputting reliable data on a public ledger is mitigating manipulation while improving transparency and increasing environmental economics. Our disruptive environmental solutions track, minimize and offset ships fuel-oil consumption & waste and can be adapted to shipowners’ needs (emissions, speed, positioning, weather, etc.) COI solutions are applicable to waste further categories on which we are focusing next – such as e-waste, plastics, medical waste, and more.

Why are you based in Slovenia?

We chose Slovenia for our headquarters because it was awarded as “The greenest country in the world for 2018”. It is located in the heart of Europe, and it is a member of the European Union and the European Zone, it has very progressive legislation for both sustainability and blockchain. The country has progressive legislation for sustainability and blockchain usage, and a profound understanding and support for the startup ecosystem. Slovenia has the ambition to become Europe’s blockchain hub, and we will make our contribution towards their goal.

Do you have both software and hardware solutions?

COI software solution is being developed internally with some help from IT companies from the USA and Slovenia. Our blockchain is based on the Ethereum platform, and it is conceived to measure multiple parameters and track materials’ volumes, characteristics, and transportation types, from its source through waste generation, through recycling until the endpoint.

Our hardware solution consists of two components – our COI ECO Sensors that we prototype with external help from EU and USA companies, and a smart mobile, modular, zero-waste recycling technology at the end of the cycle. We are using both innovative technologies and existing technology products and services to build our complete innovative solution that will make COI’s profound impact in multiple industries.

What is the purpose of the COI Token and how do I benefit from it?

We created 1.000.000.000 COI, 500.000.000 COI is for operations on our Blockchain Waste Traceability Platform, and the other half is circulating supply, or in other terms – our source of funding operations and business activities in the coming period. Each COI token from circulating supply should in future be share of Carbon Offset Initiative d.o.o. and as an early investor you should benefit from it and be able to trade it on many exchanges, while COI token from BWTP should be used to verify information between different subjects in waste management and tracking process. COI tokens could be used as a payment system between those subjects as well, much faster, cheaper, and more secure way of doing transactions.

What is IEO ?

IEO, an initial exchange offering, is the advanced model of an initial coin offering (ICO), where the cryptocurrency exchange acts as a middleman between projects and contributors. Here coins/tokens are sold via a cryptocurrency exchange. In IEO, cryptocurrency exchange work as an administrator, they check the project meticulously and allow the listing of the token at the exchange after collecting funds (Bitcoin, Ethereum, etc.) from contributors, and allots the newly mined crypto coins/tokens to the contributors.

What is P2PB2B, how do I participate in IEO ?

P2PB2B is our first partner  exchange, and we are glad that we can do an IEO through their platform because we always want the best and the most secure option for our investors, and P2PB2B does guarantee that. You can find complete information about the exchange here https://p2pb2b.io/faq and our IEO https://p2pb2b.io/token-sale/COI/1

What is the price of the COI Token ?

The initial price of the COI token is $0.14, but during PRE-ICO/IEO rounds, it will be differently discounted.

The first round will have a 50% discount, which equals to $0.07/COI.

The second round will have a 30% discount which equals to $0.098/COI

The third round will have 15% discount which equals to $0.119/COI

Fourth, and last round will have a 5% discount which equals to $0.133/COI

The minimum contribution to both IEO and ICO is $49.

What are the benefits for end-users of COI’s BWTP ?

Companies that will be using our software and hardware solutions will be benefiting in many ways. Some of the main benefits are traceability, a decrease of waste, and an increase in productivity. By measuring real-time different materials and waste parameters in different environments, companies will be able to prevent unwanted errors and stopping operations. Manipulation of data is impossible, which reduces the crew’s opportunity to steal fuel oil. All that results in significant cost savings and financial gains from the optimized operations, better materials handling, and full recycling. Having all processes on one dashboard makes it much easier for the company management to monitor activities, which again increases productivity and time management, thereof increases companies’ competitiveness at the market.

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