Liverpool to Become the World’s First Climate-Positive City Using Blockchain

Liverpool to Become the World’s First Climate-Positive City Using Blockchain

The Liverpool City Council (LCC) will be collaborating with the Poseidon Foundation to become a climate-positive city in the nearest future.

Climate Saving Ambitions

Liverpool is going to use blockchain technology in an effort to reduce its impact on the environment and become the world’s first climate positive city by 2020. And by 2030, the Council aims to offset more than 110% of the city’s carbon emissions by placing over 15,000 energy-saving LED streetlights across 2,000 streets and consequently decreasing energy consumption by 40%.

Partnership with Poseidon

LCC has partnered with the Poseidon Foundation, a Malta-based non-profit organization that “uses blockchain technology that introduces transparency and traceability to make and track an impact where it matters most – forest conservation,” according to their whitepaper. The companies are about to start a year-long trial of a blockchain platform to facilitate the security and exchange of tokenized carbon credits. As the trial’s part, the Poseidon Foundation is working on the world’s first climate-positive car. Further, it will be collaborating with schools and businesses to educate people on turning climate impacts back.

Considering the significance of the climate change in the world, cities noticeably lack an efficient solution. According to PwC, blockchain is one of the “essential eight” emerging technologies that are going to play a pivotal role in climate and biodiversity issues solving.

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