Liverpool City Council (LCC) Announces Blockchain Climate Impact Project
Blockchain technology can be used in many different industries to improve processes and other products. And indeed, several countries, governments and companies are working with distributed ledger technology (DLT).
This time, the Liverpool City Council (LCC), announced that it will be embracing blockchain tech so as to reduce climate impact in the city. The information has been published by edie.net on July the 19th.
#News: #Liverpool city council signs deal to use #blockchain technology with @Poseidon_NGO in bid to be world’s first Climate Positive city by 2020 – https://t.co/FaAG93QZmX pic.twitter.com/lmLlVjElIa
— Liverpool City Council (@lpoolcouncil) July 19, 2018
The LCC explained in a Tweet that they have decided to use this disruptive technology to make the city the ‘world’s first climate positive city by 2020.’ In order to do so, the LCC will be partnering with the Poseidon Foundation and conduct a year-long trial of a blockchain platform. In this way, it will be possible to transact carbon credits and offset the climate impact more than 110 percent.
In order to achieve that goal it will be necessary to reduce the city’s climate impact 40 percent by 2030 and instal 15,000 energy saving LED streetlights in 2,000 streets and reduce energy consumption 82 percent. Since 2012, the city was able to cut more than 500,000 tons of carbon emissions.
The Mayor of Liverpool, Joe Anderson, commented:
“[Poseidon’s technology] is the first of is 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.”
The so called Poseidon Foundation is a non profit that is located in Malta and aims to use blockchain technology to introduce transparency and traceability and produce a positive impact in forest conservation.
In the past, Independent Liverpool decided to partners with a Tel-Aviv blockchain company to launch a local digital currency for UK residents and other foreign travelers.