Liverpool To Use Blockchain To Become ‘Climate Positive’ City

Blockchain, Innovation, News | July 23, 2018 By:

The Liverpool City Council (LCC) will be using blockchain technology to make the city the world’s first climate positive city by the end of 2020.

Liverpool is a city in North West England, with an estimated population of 491,500 in 2017. Its metropolitan area is the fifth-largest in the UK, with a population of 2.24 million in 2011. The LCC is local authority and the most populous local government district in the metropolitan county of Merseyside and the largest in the Liverpool city Region. The LCC consists of 90 councillors, three for each of the city’s 30 wards. The council is currently controlled by the Labour Party and is led by Mayor Joe Anderson.

The LCC has announced that it has signed an agreement with the Poseidon Foundation to integrate its blockchain-powered platform into city operations. Poseidon uses blockchain technology to access the carbon market. Its technology offsets the carbon impact of any product or service by transparently supporting essential forest conservation projects, allowing individuals, organizations and governments to reverse the impact of climate change every day through their activities.

“Poseidon’s technology is the first of its kind to truly deliver a solution to governments, businesses and individuals around the world to help reverse the causes of climate change and I am thrilled this agreement will bring this cutting-edge technology to our city,” said Joe Anderson, Mayor of Liverpool.

Under the agreement, Poseidon will be moving its operations to the city in order to play a key role in Liverpool’s new climate positive strategy, which will be trialled over the next 12 months. Poseidon will work with local schools, universities and businesses to develop educational programs around climate impact that will play a vital role in the council’s commitment to cut its overall carbon emissions by 40% by 2030. According to the LCC, this is the equivalent of protecting 136 million trees or 338,000 football fields, which could create over 3,500 jobs in the Peruvian Amazon.

“Liverpool City Council has a significant carbon footprint because of all the services we provide – be it street lighting, the running of countless properties like St George’s Hall or the Arena and our fleet of vehicles,” Anderson said. “We are already making significant strides to reduce our impact by 40% by 2030, but that is not enough and partnering with Poseidon – whose potential for growth as a business is hugely exciting – means we can explore radical new ways to do more.”

In September, the mayor will host a Strategic Business Summit with businesses, social enterprises and not-for-profits from across the city region, where they will explore how Poseidon can help individual companies become climate positive.

“This is a ground-breaking partnership, not just for Poseidon and Liverpool, but globally. 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,” said Laszlo Giricz, founder and CEO of Poseidon. “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.”