Just in – the Liverpool City Council in the UK has partnered with the Poseidon Foundation, a non-profit carbon credit and blockchain NGO built on the Stellar network, in a bid to become the world’s first climate positive city by the end of 2020. This marks a landmark partnership and world first for both Poseidon and blockchain technology, and is the third major corporate partnership announcement for Poseidon in 2 months, having also partnered with Ben and Jerry’s and BAC Mono.
A ground breaking deal for @Poseidon_NGO with Liverpool City Council! The journey starts now! https://t.co/p0mBXOJ3z6
— Poseidon Foundation (@Poseidon_NGO) July 19, 2018
The Poseidon foundation will be moving its operations to the city in order to play a key role in their climate strategy, with a 12-month trial. Cryptocoinspy has been carefully watching this exciting non-profit climate change project over the past few months. Only two weeks ago they gained 850,000+ views over a day on Instagram in a post with oneday1change – a popular positive action account, run by David Teplitzky, who himself has 760,000+ followers.
The Poseidon foundation’s successful partnerships with global confectionary magnate/ climate change supporters Ben and Jerry’s, and now British supercar manufactures BAC Mono and City of Liverpool show the demand from major corporations who wish to rebalance their carbon emissions through Poseidon’s POS micro-donations on the blockchain.
By utilising Stellar’s network, Poseidon are able to provide almost instantaneous purchase, transaction and immutable settlement of the carbon credits, all at a cost of a fraction of a penny. Furthermore, the Stellar network only produces 0.0000015kg of CO2 per transaction, compared to 21.08kg for Ethereum and 310.75kg for Bitcoin – adding to Poseidon’s green credentials.
Carbon credits have been a controversial industry to date, exhibiting a lack of market transparency and inaccessibility for consumers. By creating the opportunity at checkout for micro-donations towards carbon credits, customers can both enjoy their purchases and contribute to rebalancing their resulting carbon footprint. The transparency created by utilising Stellar’s network further helps this new exciting, emerging carbon market.
It seems like good news for both Poseidon and Stellar keeps rolling in. With recent announcements of Coinbase and Kodak, amongst others, the Stellar protocol is certainly making waves. Will this be the year that both achieve mainstream adoption? Only time will tell. If you want more details of Poseidon’s framework and business use cases, they can be found here.
