Confidence votes 8. Oxygen is transported by the haemoglobin of the red blood cells (erythrocytes). The oxygen binds reversibly to the haemoglobin to form oxyhemoglobin. Oxygen may also be dissolved and be transported in the solution form in blood plasma.Carbon dioxide is transported mainly as hydrogencarbonate ions.The process whereby carbon dioxide is converted into the bicarbonate ions occurs in the red blood cells. The reaction is reversible.xygen may also be dissolved and be transported in the solution form in blood plasma. Carbon dioxide is transported mainly as hydrogencarbonate ions. The process whereby carbon dioxide is converted into the bicarbonate ions occurs in the red blood cells.
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