The city of Liverpool aims to become the first climate positive city using the blockchain. This was revealed by the Liverpool city council (LCC) who announced that they would be making use of blockchain technology to reduce the city’s impact on the environment. The city of Liverpool plans to achieve this remarkable feat which will be one of a kind by the year 2020. The Liverpool city council will join forces with the Poseidon foundation to conduct year-long trials for a blockchain platform that will enable the security and exchange of tokenized carbon credits in order to offset the city’s climate impact by more than 110 percent.
This will effectively see to it that the city realizes a grand reduction of its carbon emissions by a whopping 110 percent. Liverpool’s lofty ambitions will be paved by the Liverpool city council’s benchmarks which are to drastically reduce carbon emissions by at least 40% by the year 2030. The installation of 15,000 energy-saving LED streetlights is currently underway across 2,000 streets, with the city pursuing the goal of reducing streetlight energy consumption by 82 percent. These remarkable efforts by the Liverpool city council are surely bound to lead to positive and unprecedented results.
This is not the first time that the city of Liverpool has been involved in efforts to conserve the environment. The city has a history of acting towards the reduction of carbon emissions having successfully slashed the city’s carbon emissions by 558,000 tons since 2012. Joe Anderson, the mayor of Liverpool, has revealed that the technology provided by the Poseidon foundation will be the first of its kind to really deliver a lasting solution to governments, businesses, and individuals all over the globe, as far as climate change is concerned. Liverpool’s mayor, Joe Anderson, also expressed delight that the Poseidon foundation would be rolling out the cutting edge technology in the city of Liverpool.
The Poseidon foundation is a Maltese non-profit which uses blockchain technology to introduce transparency and traceability make and track an impact where it matters most such as in forest conservation. Successful tests of the blockchain platform have been conducted by Poseidon in conjunction with Ice cream producer Ben & Jerry’s. This means that the platform is ready to go and has the ability to give Liverpool the results desired when it comes to bringing down their carbon footprint. The city of Liverpool is not new to blockchain technology and crypto-currencies, with local business advocates partnering with blockchain startup, Colu, based in Tel-Aviv to launch a local digital currency for both UK residents and foreign travelers to use.
