Liverpool, a major city in the United Kingdom, is striving to utilize blockchain technology to reduce its carbon footprint in a partnership with the Poseidon Foundation.
With goals of becoming the first climate-positive city in the world, Liverpool City Council signed a deal with the eco-digital company to counteract its carbon emissions by 110% and then utilize that positive figure into backing for global conservation projects.
The City of Liverpool has already set itself a deadline of reducing its carbon impact by 40% by 2030; this latest will move could see Liverpool become the first climate-positive city by the end of 2020.
The technology provided by the Poseidon Foundation monitors the carbon impact of products and services, which in the context of Liverpool, is quite a lot, according to Mayor of Liverpool Joel Anderson who said, “Liverpool City Council has a significant carbon footprint because of all the services we provide – be it street lighting, the running of countless properties like St George’s Hall or the Liverpool Echo Arena and our fleet of vehicles.”
The Foundation’s technology also ensures that conservation projects around the world are provided automatic support. Poseidon is also taking its work to schools, universities, and businesses in the area with intentions to provide an educational message.
Laszlo Giricz, Poseidon founder and CEO said, “For the first time, a city will use blockchain technology to go beyond rebalancing its carbon footprint – leading the way in the fight against climate change.”
Furthermore, the Mayor of Liverpool is reported to be hosting the Strategic Business Summit in September 2018 where he will meet with social enterprises, businesses, non-profits from across the city to discuss and explore the potential climate-positive Poseidon can have on them.
Mayor Joe Anderson is extremely touched by the potential of the partnership, saying: “Poseidon’s technology is the first of its kind to truly deliver a solution to governments, businesses, 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 UK has been hot on the heels of tackling climate change with more than billions of dollars in public and private funding geared toward climate-related challenges in developing countries. The results from its latest finding on 6 July 2018 were published, detailing the significant changes that this funding has brought to roughly 17 million people in the least-developed countries as well as other developing nations.
Since 1990, the UK has been slashing emissions with great success and, with the United Kingdom now bullishly at the forefront of blockchain technology regulation, innovation, and adoption, this latest advancement from the City of Liverpool could further solidify the UK’s blockchain leadership qualities.