reduce by Poseidon

Have you ever wondered what the carbon footprint of the new pair of shoes you just bought is? You might have, but in all likelihood, no-one actually knows the true answer to this, as most products travel across many borders and between many hands before it hits the shelf. With the goal of tracking and generating a true carbon footprint for every product and giving each consumer the opportunity to offset their consumption by buying carbon credits, Poseidon has started a new initiative called reduce. reduce is a blockchain that records micro-extractions of energy and resources needed to make a single product during every processing, production and transport stage until it reaches the market. It then uses AI to calculate an exact carbon footprint, at an unprecedented speed and scale, that is publicly available and immutably stored. Any retailer is able to integrate reduce into their point of sale system to illuminate their supply chain, revealing which suppliers are the most sustainably oriented and choose which products will be automatically rebalanced by reduce at checkout. If they have the app, customers are alerted about their purchase and are able to buy more carbon credits to create a positive impact on any transaction. By utilizing AI, reduce does not rely on every actor in the supply chain to truthfully report their emissions, but rather the fallback is that for this to work, most retailers and consumers must be integrated into the system. Poseidon’s reduce has made strides in a variety of areas, among them Liverpool’s bid to become the world’s first climate-positive city, and working with large companies such as Ben & Jerry’s to cancel the carbon in every scoop and connect their consumers to their carbon footprint. With successes like these underway, reduce by Poseidon could help create a climate-positive Earth.

Sips, R.J., Man, W.J., Havers, B. and Keizers, G.J., The Poseidon project: An introduction. 3rd United Nations World forum on Electronic Government.

Poseidon. (2020). Retrieved June 4, 2020, from https://poseidon.eco

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