The City Council of Liverpool announced about its intentions to use the blockchain technology to mitigate the climate impact of the city.
How are they going to do so?
The City Council believes that the climate mitigation is one of the most important world challenges, and they put a target to become the climate positive city No 1 by 2020. The City Council is collaborating closely with the Poseidon Foundation to conduct a trial of a blockchain based platform that will exchange the carbon credits which will help to reduce the influence on the city climate by 100%.
The Liverpool City Council are already working on the project. And this is not limited but tokenization of carbon credits. They are already installing more than 15,000 energy saving LED lamps, that should reduce the energy consumption in the streets for more than 85%.
The Major of Liverpool, Joe Anderson, told, that Poseidon Foundation is the first company providing blockchain solutions for government, businesses and individuals in the entire world.
The Poseidon Foundation is a non-profit organization located in Malta, that is aimed to introduce transparent and efficient solution for solving the environmental issues, such as, for example, deforestation and energy saving.