www.dafabet.com:How Blockchain Can Save The Climate – The Poseidon Foundation
作者/来源: Datafloq Sponsored / Datafloq 责任编辑: 闫文美 时间: 2018年07月12日
This article is sponsored by The Poseidon Foundation.
Let’s assume it took you about two seconds to read the above headline. You’re hopefully interested in reading on, but otherwise, I’m sure it feels like little else has happened. Well in those two seconds alone an area of forest nearly as large as a soccer pitch has been cut down worldwide, which equates to 18.7 million acres of forests being lost annually.
Protecting forests is vital - because when it comes to stopping climate change, we’re running out of time. The 2015 Paris Agreement set the target of limiting global warming to less than 1.5°C by 2100, but by today’s emission levels, we will have already exhausted the carbon budget to reach this target by 2027. The need to drastically limit greenhouse gas emission is clear and preventing deforestation is the easiest natural solution known to man.
Forests act as carbon sinks, absorbing carbon dioxide from the atmosphere, so protecting trees works to clean the air we breathe. However, when these trees are cut down and burnt, all the carbon they have stored over hundreds of years is released back into the atmosphere – making the problem even worse. Preventing deforestation also acts to protect the millions of animals and plants that live in the forests and supports the livelihoods of local indigenous communities.
The Poseidon solution
Here at the Poseidon Foundation we have developed a blockchain solution that allows individuals, organizations and governments to engage in essential forest conservation. Working with our strategic partner Ecosphere+ we source high-quality carbon credits from some of the best forest conservation projects in the world. Our platform uses a smart contract that manages the entire lifecycle of carbon credits and a utility token called OCEAN that facilitates the efficient settlement of carbon credit transactions. These two structures are built on the environmentally friendly Stellar blockchain, allowing individuals access to the carbon market for the first-time and empowering everyone to become champions for wider environmental good.
One of the greatest advantages of our platform is that for the first-time we can accurately split carbon credits into portions as small as grams and link them to products and services. Previously you could only buy carbon credits in multiples of tons, making it impossible to connect carbon credits to the purchase of smaller, everyday items that typically have carbon footprints in the region of grams or kilograms. Now thanks to our blockchain technology it is possible to rebalance the climate impact of anything – from a litre of fuel in your car, to a cup of coffee from your favourite coffee shop, all at the point of consumption.
Cheaper than you might think
Let’s go back to making assumptions. Perhaps you’re reading this on the train during your commute to work and you travel about 10 miles from home to the office. You’ll probably be surprised to learn that it only costs $0.8 cents to rebalance the carbon emissions of this commute. Rebalancing an entire year’s worth of commuting would cost as little as $1.98. In terms of actual carbon emissions, your annual commute emits just 0.22 tonnes of carbon dioxide.
Climate action is not expensive, and now thanks to our innovative platform, it is finally truly accessible to you – the individual, every day.
Can blockchain ever be environmentally friendly?
I’m sure most of you have seen the news about Bitcoin’s energy consumption. For instance, in Iceland, more energy is used to mine Bitcoin than to power people’s homes and per day the global Bitcoin network now consumes more energy than Ireland. Hence, we chose to build on the Stellar network as it is the most environmentally friendly blockchain available. For comparison, a transaction on the Stellar network only uses 0.03 Wh whereas VISA uses 1.69 Wh per transaction. Clearly, the Stellar blockchain is the perfect technology partner for our platform.
Real climate action
The benefits of our platform are already clear. We are fully integrated into Ben & Jerry’s Scoop Store in London where a consumer can buy a scoop of ice cream and Ben & Jerry's will more than rebalance the climate impact of that scoop, making the purchase climate positive. Consumers are then offered the opportunity to match Ben & Jerry's contribution, an offer which many are taking and even exceeding. This is all done instantly at the point-of-sale and the results have been fantastic. So far, we’ve protected over 2000 trees, which is an area the size of more than 135 tennis courts.
Our solution is fully scalable and will be integrated with many more organisations before the platform goes fully live in August 2019. Eventually, we believe our platform will affect behavioural change by transforming people’s engagement with their carbon footprint from one of sporadic gesture to regular behaviour. Gone will be the days of people making occasional donations to environmentally friendly projects and soon, thanks to constant contributions through our platform, climate action will become second nature.
If you want to find out more, visit www.Poseidon.eco.
Article Author: Datafloq Sponsored
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