A local outlet on July 19 announced that T\the Liverpool City Council (LCC) announced that they will be using blockchain technology in mitigating the city’s climate impact.
LCC explained that the effort to reduce the city’s climate impact is actually a bid in becoming the “world’s first climate-positive city by 2020.” The LCC will link with the Poseidon Foundation in conducting a year-long testing of a blockchain platform to facilitate the security and exchange of tokenized carbon credits with its primary aim of offsetting the city’s climate impact by more than 110%.
On its way to a 110% offset, it is reported that the LCC have benchmarks of reducing the city’s climate impact of 40% by 2030 and it is already installing 15,000 energy-saving LED streetlights across 2,000 streets to reduce streetlight energy consumption by 82%. The city also has a history to take action against carbon emissions, having cut out more than 558,000 tons since 2012.
Joe Anderson, Mayor of Liverpool, said that Poseidon’s technology is the first of its own kind to really deliver a solution to individuals, businesses and governments around the world in helping reverse the causes of climate change.
The Poseidon Foundation which is a Malta-based nonprofit uses blockchain technology in introducing transparency and traceability to make and track an impact where it matters most which happens to be forest conservation.
Liverpool is not a stranger to blockchain and the entire crypto industry. Local independent business enthusiasts are advocating Independent Liverpool in launching a local digital currency for both local residents and as well as foreign travelers to use.