Using blockchain technology, Poseidon’s platform can harness global concern over climate change to make and track an impact where it matters most; the forestry and land-use sector. It will provide a vital new tool for retailers to shift behaviours and integrate real climate action in their business models and every retail transaction at the point-of-sale. This transforms the consumer’s engagement with their carbon footprint from gesture (occasional donations) to behaviour (constant contributions).
Poseidon’s blockchain platform means that for the first-time carbon credits can be transacted in grams. Previously, carbon credits were only ever purchased in kilograms, so the purchase of smaller items, like a single coffee, couldn’t be offset. Now thanks to micro-transactions, Poseidon’s platform allows any product or service’s carbon footprint to be rebalanced at the point-of-sale.
Poseidon’s token will use the Stellar platform, which is the most environmentally friendly blockchain platform as unlike others it requires no energy-intensive consensus mechanism. A transaction on the Stellar network has an environmental footprint that is even lower than that of a transaction made with a Visa card.