A new partnership will see Liverpool City Council use blockchain technology to help offset its carbon footprint…

Liverpool City Council has announced that it’s teaming up with a group called The Poseidon Foundation, as it aims to become the world’s first climate-positive city. It’s looking to offset at least 110% of its carbon emissions, and it’s turning to blockchain technology to help it do so.

The council and The Poseidon Foundation have initially entered into a year-long trial as part of this quest. The Foundation’s technology utilises blockchain, by monitoring the carbon impact of products and services in the city of Liverpool, and then ensuring that conservation projects elsewhere on the planet are supported automatically.

Furthermore, Poseidon will be taking its work into schools, universities and businesses in the area, bringing an educational message as it does so.

For its part, Liverpool City Council has a commitment to cut its overall carbon emissions by 40%, with a 2030 target to do so. Its plan to be climate-positive has an end of 2020 deadline on it.

Poseidon’s founder and CEO, Laszlo Giricz, said of the partnership that “for the first time, a city will use blockchain technology to go beyond rebalancing its carbon footprint – leading the way in the fight against climate change. Liverpool is a trail blazer and a shining example to other cities in the UK and across the world on what can be achieved through harnessing the power of technology to meet one of humanity’s greatest challenges. And now that it is clear that our platform is fully scalable, it is time for other cities to take action”.

We wait and see if they will do so…

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