Ben and Jerry’s, the euphoric ice cream vendor based in London is collaborating with the Poseidon Foundation to contribute its share of responsibility towards the environment. For the sale of each ice cream, carbon credit worth a penny will be bought by the company that will help in reducing total emissions of carbon on a global level. Poseidon enables transparency of the carbon credit transactions through stellar blockchain.
Poseidon is the platform that enables the consumers to link with the forest conservation projects. When a user will purchase something… microtransactions by Poseidon’s systems at backend will allow the retailer’s POS to purchase Poseidon’s native tokens using the payment given by the user and these tokens grant 12kg worth of carbon credits to the retailer.
The credits are added to the profile of the user and he will get the information that the product he just purchased (ice cream in this case) is carbon neutral. Thus, the blockchain method adopted by Poseidon will give a sense of contributing towards a greener planet to the users.
The Carbon credit system is a framework that has been designed to reduce the impact of increasing greenhouse gases. Credits are assessed and given a value against a ton of hydrocarbon fuel, a method that levies cost on emitting carbon into the air. Fine charges for emitting carbon into the atmosphere are usually more than buying the credits so companies favor credits.
Companies buy these credits so that they do not have pay for the penalties levied on the carbon usage. Carbon trading is the stock exchange for carbon credits and it has been adopted by many companies to maintain a balance in the total emissions.
Stellar Blockchain has been selected due to its ability to allow the transactions that are performed in pennies. It also releases a very less amount of carbon dioxide in its transactions as compared to Bitcoin which rises from electricity usage required for mining.
With humble beginnings in a renovated gas station, Ben and Jerry’s business has come a long way to achieve its success. This collaboration with Poseidon will provide value to the customers as well as the brand. The customers will be able to keep a check on how their contribution is making a difference and this will promote the usage of Poseidon.