The launch of the purpose-built Issuance, Ownership &Transfer (“IO&T”) Platform marks a milestone for the world’s first dynamic carbon registry, Genesys Reserve. The IO&T platform is intended to serve as an accessible, transparent, and user-friendly avenue for developers, buyers and verifiers to transact their genuine and impactful carbon credits.
The platform in its initial stages will be utilized to track carbon credits issued by Genesys Reserve to offset developers and allow sustainability professionals from small to medium enterprises to make purchase, claim and transfer transactions seamlessly. The platform will also be made available to third-party verifiers who wish to view the status of specific carbon credits ensuring transparency within the registry. In phase 2, the IO&T will be integrated with the Kool Buddy, a track and verify app to bring carbon credits benefits directly to communities and individuals.
“After 15 months and multiple R&D cycles, we are very pleased with the launch of the IO&T platform, which will bring multiple benefits to its users and the localized carbon markets where it will be deployed in the coming months. This marks Karbon Hero’s efforts in democratizing the creation of carbon credits, bringing trust, reliability and most importantly accessibility to the voluntary carbon market,” said Dr. Sarah Shahril, Chief Executive Officer of Karbon Hero.
The IO&T platform designed by Karbon Hero and developed by Virtual Spirit Technology Sdn. Bhd., harnesses Malaysian homegrown technical expertise and talent. The IO&T Platform is focused around user-centricity to ensure an intuitive user experience. All users will be able to obtain important information regarding the carbon credits in Genesys Reserve such as its developer information, serial number, type, location, expiry date, and status.
“From the very beginning of this IO&T project we decided to harness 100% Malaysian-made expertise and talent, from a pool of technical and scientific professionals available around the country, to showcase that Malaysia is a world leader in accelerating the global carbon credit market and transition toward Net-Zero goals,” said Mr. Reuben Ravi, Chief Strategy Officer of Karbon Hero.
Genesys Reserve will phase in a wide range of carbon credits through its methodologies launches and developer onboarding over the coming months with credit types such as e-mobility, solar renewable energy, forestry nature-based solutions and biochar. All credits issued by Genesys Reserve are supported and verified by the Quality, Assessment and Verification Framework (“QAVF”) and Micro-Offset Methodology Standards (“MOM”).
Genesys Reserve welcomes eligible users to register for early access on the IO&T platform at www.genesysreserve.org
