Can blockchain help conserve global forests and counteract climate change? The city council of one of the UK’s major cities has decided to find out. It’s giving the blockchain technology a year to see if it can play a top role in assisting the city in cutting its carbon impact.
#News: #Liverpool city council signs deal to use #blockchain technology with @Poseidon_NGO in bid to be world’s first Climate Positive city by 2020 – https://t.co/FaAG93QZmX pic.twitter.com/lmLlVjElIa
— Liverpool City Council (@lpoolcouncil) July 19, 2018
Liverpool is setting a big challenge for both blockchain technology and the Malta-based Poseidon Foundation and its platform. That’s because Liverpool is going for world rankings. It has already notched up one world first in deciding to give blockchain technology a year’s trial period.
Liverpool Wants Blockchain Aid to Lead the World
But that’s not the only first it is going for. It’s looking to become the world’s first climate-positive authority, and it wants that title this year. Beyond that, it’s got its mind set on becoming the first climate-positive city by 2020. The Liverpool City Council (LCC), led by Mayor Joe Anderson, is hoping the Poseidon blockchain platform can help the seaport city in northwestern England get there.
Anderson said Liverpool had cut its carbon emissions by more than 558,000 tonnes in the past six years, and hoped to cut its carbon impact by 40% by 2030. Projects were already underway such as the installation of over 15,000 LED streetlights in 2,000 streets which is aimed at reducing the amount of energy consumed by them by 82%.
As part of the blockchain trial programme, the Poseidon Foundation would be taking its operations to Liverpool so it could work alongside locally-based supercar manufacturer BAC Mono on the production of yet another world first – a climate-positive car. It will also team with local schools and businesses in educating the public on how to reverse climate impacts.
How Does Poseidon Fit In?
The foundation’s Carbon on blockchain project was developed to, among other things, keep track of carbon footprints left by makers, buyers and sellers from production to point of sale, as well as help preserve the world’s global forests. It conducts these projects using the digital ledger qualities of blockchain technology to ensure the security of online deals for offsetting carbon credits.
It’s also been used in conservation and restoration projects at the Cordillera Azul National Park and Amazon basin in South America, and is claimed to have saved over 1,000 trees just by using carbon credits at an ice-cream parlour in London.