Ben and Jerry’s, London-based jubilant ice cream vendor is associating with Poseidon Foundation to contribute towards the environment. The brand has decided it would bring carbon credit worth a penny on a sale of every ice cream thereby helping to reduce the carbon emissions on a global level. Poseidon would be making all the transactions through stellar blockchain in order to maintain transparency.
Poseidon as a platform enables its users to connect with the ongoing forest conservation projects. Whenever any user buys something, Poseidon’s system allows the retailer’s POS to purchase the company’s tokens by using the payment done by the user. These tokens allow around 12kg worth of carbon credits to the retailers. All these
transactions takes place at the backend of Poseidon’s system.
The credits are shown in the profile of the user and he would get the information that the product he just bought, ice cream, for instance, is carbon neutral. This blockchain taken up by Poseidon would give a sense of contributing towards the environment.
The carbon credit system is a scheme designed to deplete the impact of rising greenhouse gases. Under this framework, the number of credits is evaluated against a ton of hydrocarbon fuel helping in reducing the cost of emitting carbon. Such fines are usually more than the costs of buying the credits making the company’s initiative successful.
It helps the companies who prefer to buy these credits than paying penalties levied on carbon emission. A carbon credits stock exchange, Carbon trading, also called been adopted by many companies to maintain the balance in overall emissions.
Poseidon has selectively chosen Stellar Blockchain due to its ability to allow transactions in amount as low as a penny and emits a meagre amount of carbon dioxide in its transactions when compared with other cryptocurrencies like Bitcoin which requires electricity for mining.
Founded in 1978 in Vermont, Ben and Jerry’s has covered a long journey to be so successful. Today, the brand operates globally as a part of Unilever. The brand has earlier been conscious of the environment. The company has earlier tried to switch to eco-friendly containers but the decision had to be reversed later, owing to cost and supply
The association with Poseidon will add value to the brand and its customers who’ll be able to monitor how their purchases would make an impact. It would also benefit Poseidon who expects an increase in traction as a direct result.