Liverpool to Reduce Carbon Emissions Using Blockchain
Blockchain platform company has partnered with Liverpool city council, Poseidon Foundation, to take part in a blockchain-based carbon credits system. The partnership is part of the council’s efforts to achieve the goal of making Liverpool the world’s first climate-positive city.
Liverpool’s Mayor, Joe Anderson, stated:
“I’m delighted we have signed this partnership agreement with Poseidon to connect Liverpool directly with climate positive projects across the globe. Poseidon’s technology is the first of its kind to deliver a solution to governments, businesses truly, and individuals around the world to help reverse the causes of climate change and I am thrilled this agreement will bring this cutting-edge technology to our city.”
The LCC and the Poseidon Foundation will work together for a trial period of one year in an effort to offset the carbon effects of all products and services in the city. In the process, the blockchain platform provides a transparent means of recording the city’s efforts and protecting forests across the globe. People, companies, institutions, and governments alike will have the opportunity to counter the effects of global climate change through everyday activities. The Poseidon Foundation will educate the public on climate positivity by working with schools and businesses in Liverpool, also within the framework of the project.
Liverpool is also installing over 15,000 energy-saving LED streetlights in a bid to reduce streetlight energy consumption by 82%. Now, as part of the plan to reduce its carbon footprint by 40% before 2030, the Liverpool City Council (LCC) will employ a blockchain-based carbon credits technology developed by Poseidon Foundation. This time, the council of one UK city has decided to incorporate the new technology into its planet-conservation efforts. Liverpool is on a mission to become the first climate-positive authority in the world by 2018, and they are using the blockchain to help reach their goal. Since 2012, the city has already cut carbon emissions by more than 558,000 tonnes, and they are just getting started.