Liverpool City Council will use blockchain to reduce carbon emissions

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4 months ago
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Liverpool will fight global warming with the help of blockchain. The authorities of the city signed a partnership agreement with The Poseidon Foundation, which develops eco-solutions based on distributed registry technology, according to Trustnodes.

The Poseidon Foundation will develop solutions on Stellar based carbon trading blockchain platform, making carbon credits affordable for small corporations and city residents.

In particular, one of the future developments of the start-up is the blockchain application, which shows how many carbon substances the resident emitted into the atmosphere while buying, for example, pairs of shoes.

If people are concerned about the environment, they can turn on the option in the app that automatically allows to write off the money from their account as a carbon credit.

By 2030, with the help of new blockchain solutions, the authorities of Liverpool intend to reduce carbon emissions in the city by 40%.