In Liverpool blockchain technology will be used in the fight against global warming and to reduce emissions of carbon dioxide in the atmosphere by 40% by 2030. The city Council of Liverpool and the blockchain startup Poseidon Foundation entered into an annual agreement and will jointly develop solutions for the blockchain Stellar to open businesses and residents the ability to track their impact on the problem of emission of harmful substances into the atmosphere and to a kind of “carbon credits”, that is permission for the release of a certain amount of CO2 in the environment.

In a specially designed app, users can control how their everyday behavior, such as buying bananas or new pair of shoes, affect the atmospheric pollution of CO2. To neutralize the damage and support the environmental initiatives they will be able to purchase “credits” from companies involved in the planting of trees.

Poseidon Foundation

By the end of 2020, the authorities of Liverpool want to make him the world’s first example of “climate-positive city” and hope for a radically new speed in achieving this goal, in cooperation with the blockchain startup.

Recall that in Japan, group technology and energy companies in the spring of this year announced its intention to launch a pilot project aimed at using blockchain technology to reduce emissions of carbon dioxide. We are talking about creating a blockchain platform where consumers from rural areas of Japan would be able to sell electricity generated from renewable sources.