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Tuesday, October 23, 2018

Poseidon Foundation

Poseidon is a not-for-profit foundation that empowers people to save the planet with every purchase through its breakthrough platform. The platform provides a vital new tool for retailers to shift behaviours and integrate real climate action into every retail transaction at the point-of-sale. Using blockchain technology, Poseidon empowers all of us to address the carbon impact of our lifestyle choices to track and share the positive impact of our transactions on individual projects with our peers.

Poseidon’s Platform
Poseidon’s platform tracks and manages the entire carbon ecosystem. For users, it will be as simple as opening an app. It connects consumers and retailers with Ecosphere+'s forest conservation projects around the world, meaning that a product’s carbon footprint can finally be embedded in its sale. The technology empowers everyone to contribute through their everyday purchases – something which has never been possible before.

Behind it lies a blockchain that will revolutionise how the world relates to the carbon. On Stellar’s uniquely efficient network, we can verify carbon credit status in real time, guarantee that consumers are directly supporting emission reduction projects, and settle all-new microtransactions using our native tokens in seconds. The blockchain provides transparency for all purchases and offsets.

The following comparison table shows the tremendous environmental impact of Bitcoin and Ethereum. Interestingly, a transaction on the Stellar network not only uses significantly less electricity than both Bitcoin and Ethereum, but also uses only a fraction of the electricity that a VISA transaction requires.
Our proprietary smart contract solution will hold carbon credits from project inception to retirement. It combines on-chain and off-chain smart contracts to make sure crucial carbon data remains public, without compromising user experience or confidentiality.

Retail :
Both in-store and online, here’s how Poseidon makes any choice eco-friendly.
  1. After joining Poseidon, Amy buys a pair of shoes.
  2. The retailer's POS system shows that the shoes have a carbon impact of 12kg. It adds the price for the required carbon offset to her bill.
  3. Amy pays using her credit card. The retailer's POS shares her purchase details with Poseidon's backend.
  4. Poseidon's backend automatically matches the purchase with Amy's profile.
  5. It purchases Poseidon's native tokens, using Amy's payment.
  6. Through these native tokens, it then acquires 12kg worth of carbon credits.
  7. It adds these credits to Amy's profile, updating the blockchain with the transaction details. All these steps happen behind the scenes - Amy's user journey is seamless.
  8. Within seconds, Amy receives a notification that her shoes are now carbon neutral. To her, they've been offset instantly.
  9. She looks at her phone, opens up details of the forest-protecting project she has supported, and decides to share on social media.
About climate change
Earth’s temperature is maintained by a process called the greenhouse effect. Certain greenhouse gases (such as carbon dioxide) naturally trap heat in the atmosphere, stopping it from radiating back into space.

Ordinarily, enough heat is trapped to keep the planet at a steady, habitable temperature. But human activity is releasing high quantities of greenhouse gases into the skies. This traps more heat than necessary, which in turn warms the planet, disturbing the balance of nature and threatening life.

Burning fossil fuels is one such act. Deforestation is another. Deforestation also destroys one of our planet’s natural carbon sinks, as trees absorb harmful carbon through photosynthesis. There will be a point at which the damage – from burning carbon, felling trees, and more – will be irreversible. Consensus has been reached: Climate change is real. Greenhouse gas emission levels are rising rapidly. So too are global average temperatures, and humanity’s actions are at the heart of it.

The consequences are extreme weather events, forest fires, spread of diseases, flooding, and mass migrations, the impacts of which place huge strains on global economies. Climate change is a global phenomenon that affects everyone, no matter who or what is causing it.


Being part of an impact fund, Ecosphere+ projects are accountable to the highest environmental, social and governance standards. Each year, the Althelia Climate Fund publishes an impact report with quantified key performance indicators, setting out the progress from each project against seven impact criteria. Our projects are designed to address and support the aims of all 17 Sustainable Development Goals, allowing our customers to demonstrate measurable progress. In addition to our own ESG criteria, all our projects are independently certified by the Verified Carbon Standard (VCS) and the Climate, Community and Biodiversity Standard (CCB). 

Our projects also earn Gold level of distinction for various aspects of CCB such as adaptation, biodiversity, and community engagement. Each project’s methodology (e.g. VM007) and project design document is transparent and publicly available on the VCS/CCB website and must be validated by an independent third party. The Cordillera Azul project (ID 985) that Poseidon supports is validated by SCS Global Services. Additionally, every year, the credits claimed to be generated by the project must be verified by an independent third party. Cordillera Azul is verified by AENOR.

Quantifying and valuing forest and ecosystem ‘services’ requires diligence and scientific rigor. Forest carbon projects have evolved considerably over the past twenty years to meet challenges and concerns about environmental and social impact. Enormous effort has been made to ensure the integrity and lasting impact of these projects through the development of independent standards such as VCS and CCB. 

And now leading brands and governments have made forest conservation projects like ours a well-established approach to achieving significant carbon emissions reductions. The VCS and CCB have robust measures in place to address leakage (ensuring deforestation is not simply intensified elsewhere) and permanence (demonstrating lasting climate benefits).

The Situation
The Intergovernmental Panel on Climate Change (IPCC) provided data which shows that we need to keep the global temperature rise within a ‘safe’ limit of below 2°C. Any higher and we won’t be able to adapt. Their findings influenced the 2015 Paris Agreement, the most significant international treaty on climate change. Its aim is to keep this average rise below 2°C, while aiming for 1.5°C.

195 countries committed to reduce their emissions. However, even if they stick to the plan, a gap of up to 19 gigatons of carbon dioxide equivalent still remains between what’s needed to hit the 1.5°C target and what’s pledged to be emitted in 2030. This huge gap is equivalent to taking all US homes off the electric grid, all the world’s cars off the road, and removing all global food waste for a year.

With the historic Paris Agreement in place, we are entering a world with a finite ‘budget’ of carbon that can be emitted. A market now exists for carbon-positive ventures which can offset the gases released by outdated industries and harmful enterprises.

Forests alone can contribute to a third of the emission cuts needed by 2030, but we need to protect them. Ecosphere+ recognise how essential forests are, and develop natural solutions that guard and value their pivotal yet underappreciated resource. Their emission reduction projects grant them access to high-quality carbon credits, rooted in the conservation of forests.

What are carbon credits?
A carbon credit is a permit which allows the holder to emit one ton of carbon dioxide. If an emitter doesn’t exhaust its carbon allowance, it may sell its remaining credits. If an emitter exceeds its allowance, it must purchase more to compensate. Carbon credits are also created and awarded to projects which demonstrably reduce or remove emissions. For each ton of carbon dioxide that is offset, the project receives one carbon credit, which it is then free to trade. Ecosphere+ develop vital projects like these.

Putting a price on carbon in this way is the right solution, but it’s not working. The current market is disjointed, unstandardised and relies on outdated technology. Because buyers don’t trust sellers, they repeat their due diligence, adding expense, wasting time and risking double counting. And since everyone is dealing in tons, microtransactions are near impossible.

This means the market is fundamentally disconnected from the real world. When we buy a product, it’s already responsible for an undefined amount of carbon. Whatever the amount, the damage has been done, and we’re not the ones paying the price – pollution doesn’t occur at the point of sale.

Blockchain technology lets us divide carbon credits into grams, track them transparently, and process microtransactions. It’s an opportunity the world can’t afford to miss. For the first time, you’ll know exactly how much carbon your purchases cost, and just one tap can set them right again. The previously impenetrable carbon market is now yours.

The carbon credits we will be offering do not readily exist. They need to be created by launching an emission reduction project. This process includes establishing a project (Initiated), validation by accredited organizations (Validated), and verification (Verified) by independent parties. Then, carbon emissions caused by consumer products and services are quantified and disclosed by participating retail partners (Attached). 

This enables consumers to address their carbon footprint by making eligible purchases during which carbon credits are used to offset these emissions (Retired). Currently, these processes are almost entirely manual and take place in isolation. We believe that our blockchain solution can streamline this process and provide a platform that will bring all the moving parts together, creating a paradigm shift in carbon markets.
Using our platform, these steps will be linked to the Stellar blockchain, where we will store details related to each of them by processing transactions that update existing smart contracts, creating a transparent and auditable record of the entire carbon credit lifecycle. Any participating party will be able to look at the history of any carbon credit, and our platform will be able to show consumers the actual carbon credit they have retired with their purchase.

What Is The Fundraiser?
In order to support the mission of the Poseidon Foundation, which has been self-funded until the fundraiser, we are conducting three public fundraising rounds between June 2018 and June 2019. During these fundraisers, contributors are able to purchase OCEAN tokens at a discount from Poseidon Operations Ltd or make donations to the Poseidon Foundation. In either case, contributions using Stellar Lumens, Bitcoin, and Ethereum are accepted.

If OCEAN tokens are purchased, they are transferred to a new Stellar account that is automatically generated after payment has been received. Our private fundraiser, live until the platform launch in August 2019, has already been a major success. We have so far protected over 20 million trees, supported over 500 people, and protected an area of forest 24% larger than New York City.

Why Contribute ?
With your contribution, you’ll play your part in the collective effort being made by the world to reduce climate change.

From the proceeds of the token sale, 80% be used to purchase carbon credits and 20% will be used to pursue the objective of the Poseidon Foundation. In case of donations, 100% of the proceeds will be used to purchase carbon credits. For the duration of the Fundraiser, the value of one OCEAN token has been fixed to the estimated value of the carbon markets, $10 billion, divided by the total number of OCEAN tokens, 36 billion, resulting in a token value of $0.2778. As Poseidon Operations Ltd is registered in Europe and therefore operates in Euro, an equivalent value of €0.2400 has been set for one OCEAN token until the platform launches in August 2019.

Detail Token Poseidon :
Ticker: OCEAN
Platform: Stellar
Token Type: Stellar
Available for sale: 17,986,537,775 OCEAN (50%)
Total supply: 36,000,000,000 OCEAN
ICO Price: 1 OCN = €0.1920
Accepting: BTC, ETH, XLM
Soft cap: 10,000,000,000 EUR
Hard cap: 2,700,000,000 EUR

Pre-sale Time: 03 Nov 2018 - 09 Dec 2018
ICO Time: 16 Feb 2019 - 24 Mar 2019

Real Impact Of One Million Invested
The Poseidon Foundation is a non-profit committed to address the existential threat of climate change. Poseidon Operations Ltd will ensure that 80% of the proceeds from token sales will be transferred to the Poseidon Foundation to purchase land-based carbon credits, while the remaining 20% will be used to pursue the objectives of the Poseidon Foundation. The revenue generated from the sale of the purchased carbon credits will be used to fund operations, purchase further carbon credits, and support further climate action.

The spread between wholesale and retail carbon credit pricing will allow us to purchase about 50% more carbon credits with each cycle, allowing us to grow the impact we are having. Our non-profit foundation will be focused on maximising sustainable philanthropic impact, offering a unique model to our contributors.

More Information About Poseidon Foundation :

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