Poseidon’s model is pretty ingenious and very creative. Basically, users will be able to track and manage their carbon footprint through an app that connects consumers and retailers, and allows them to see the carbon footprint of every purchase they make, and then offset it by buying carbon credits. This will allow users to support retailers based on their eco-friendliness, and companies to prove that they are operating in a sustainable manner in which they are responsible for their carbon footprint.

One of the ways the Poseidon system does this is by adding the cost of the carbon credits required to cover the carbon footprint of the production of the item to the end consumer’s bill. The retailer’s Point of Sale system connects to the Poseidon system and then uses the extra charge for the carbon credits to purchase Poseidon Tokens, which are then immediately used to purchase carbon credits.

All of these transactions are instantly recorded on the blockchain, making them immutable and public. And therefore at the end of their purchase, the consumer is no longer responsible for the carbon footprint as they have paid for the carbon credits to cover it.

By using both on-chain and off-chain smart contracts, the Poseidon app insures that important information regarding carbon credits is kept public, creating a system of accountability, responsibility and transparency for everyone involved.

Poseidon is built on the Stellar blockchain, which can process over 1000 transactions per second and clears funds in 3 to 5 seconds with almost zero transaction fees. And whereas the Bitcoin network, as well as other Proof of Work blockchain networks, are notorious for their intense energy consumption through mining, Stellar is quite the opposite. It requires even less energy than centralized systems like Visa to function, and has a much smaller carbon footprint.

While the tech is incredibly important, and in Poseidon’s case highly impressive, the team responsible for building it is even more important. And Poseidon has an all star team. Their CEO, Laszlo Giricz, has decades of experience working in banks as a developer, a business analyst, and a project manager. That is a perfect combination to lead a project. He has worked in numerous countries, including Japan, Singapore, Canada, Germany and Belgium, which makes him uniquely positioned to work with the type of global ecosystem that carbon credits require.

Their CTO, Cesare Tagliaferri, has almost 20 years of experience working in the tech industry, and has also performed a variety of jobs that cover development and management.

The rest of their team is also experienced and talented, as well as culturally diverse, which I think is a benefit in pretty much any company, but especially for projects with global implications and requirements like this.

To top it all off, they already have a large number of key partnerships established with an ideal group of companies to help realize their vision. These include, but are not limited to:

Stellar, the blockchain they’ll be building on.

Ecosphere+, a company that manages a portfolio of projects that protect forests around the planet and who will be responsible for providing the Poseidon ecosystem with carbon credits.

6point6, a tech services company that specializes in blockchain and AI.

BAC, a tech company focused on providing environmentally friendly solutions.

The Liverpool City Council, who will be the guinea pig city for the Poseidon system in their quest to become the first climate positive city on the planet.

In summary, Poseidon is a highly ambitious idea with a talented team and perfect partnerships already in place to turn their dream into reality. I strongly recommend researching it more on your own. You can find out more about it at the following links :

Website — https://poseidon.eco/

Whitepaper — https://poseidon.eco/assets/documents/Poseidon-White-Paper.pdf

Telegram — https://t.me/PoseidonFoundationOfficial

Twitter — https://twitter.com/Poseidon_NGO

Thanks for Reading.

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