It’s been a while since we have given the community an update as we continue to grow Phaeton as a well-established organisation.
Over the Last few weeks India held the G20 Summit across various cities in India. Prime Minister Modi called on the G20 to focus its discussions to the “most vulnerable citizens of the world” and emphasised India’s successful public digitisation models in financial technology. Certain members from Phaeton attended the conference and as a result we have secured a meeting with Cabinet Minister Keshav Prasad Maurya in March to discuss the launch of Phaeton Carbon Credit Exchange.
Keshav Prasad Maurya is currently the Deputy Chief Minister of Uttar Pradesh and is a member of the Bharatiya Janata Party, government of Uttar Pradesh and Phaeton further collaborating to make the state of Uttar Pradesh carbon neutral and thus support with a vision of progressing towards a one Trillion economy. Imagine a single state having a vision of a one Trillion economy, how about 28 states and 8 union territories, when combined together that would benefit with the use of a Carbon Credit service provider and to our loved Phaemily.
The new direction to launch the exchange in India holds a substantial amount of weight when trading carbon credit as India hold 17% of the worlds Carbon Credit Market. India has progressed in executing policies into actionable practices which has interests from government to engage Phaeton into adopting our carbon credit policies and procedures as well as Phaeton NFT Carbon trading platform. The annual demand for voluntary carbon credit in India is expected to touch 500+ million units by 2030. The country has been no stranger to carbon credits and the formation of the carbon market will only add value to the market size in the future.
Prime Minister Modi offered seven points for consideration which include shift from ‘carbon credit’ to ‘green credit’ and increase in share of traffic on public transport in cities by 30 per cent by 2030. While Phaeton is working closely to ensure Australia and India holds a strong business relationship we see a bright future for Phaeton and its shareholders.
What is to come for 2023?
- Phaeton Carbon Credit Exchange to be launched 1st Quarter 2023
- Phaeton Carbon Credit India to be established.
- Phaeton Technology India to be established.
- Phaeton Identity to be launched 1st Quarter 2023
- Phaeton Real estate and Bond Marketplace will be announced once we have a clear business strategy in place to launch later this year.
- This financial year Phaeton will be also launching a blockchain based ‘Mask Messaging’ app, which would not only prosper a normal decentralised way of messaging between the participants across the globe.