Liverpool Seeks 'Climate-Positive' Status With Blockchain Partnership
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July 19, 2018
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Liverpool City Council is partnering up with Poseidon Foundation to participate in blockchain based carbon credits system,’s reported today.

Liverpool is working hard to become a climate-positive city by 2020, the first in the world. This means the city will pay more attention to the damages caused by carbon emissions. To achieve that, they are ready to face environmental challenges, expand forests, clean the ocean, increase awareness and apparently partner up with Poseidon. All these efforts are supposed to go on a traceable blockchain platform.

Poseidon Foundation is a Malta-based company that aims to change the world by directly exposing every purchase, every production with its carbon footprint.

Their system is simple. Every person and every item we use has a certain carbon footprint. A carbon credit is a form of permit that allows industries to produce a certain amount of greenhouse gases or carbon dioxide as a side product. In order to prevent global warming and ensure healthier population countries are taking measures to control the carbon credits.

Poseidon’s ultimate aim is to control carbon credits and decentralize their issuance. That will create a transparent and trustable system which will produce a substantial effect on the environment. The idea is to increase awareness and impose responsibility.

However, it is still not very clear how the system is going to work. On their site, the company describes a scheme to be implemented at the city level that will allow Poseidon to get a share from all purchased goods. The company then promises to transform it into tokens and use them to plant forests thus minimizing negative carbon impact that every item imposes on the ecology.

By Nadya Astam

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