Poseidon: Carbon on blockchain
Empowering people to save the planet with every purchase
Founder And CEO
Laszlo spent 17 years as a business and technology consultant for the world’s largest investment banks, including JP Morgan Chase, Deutsche Bank, and UBS, across leading financial centres including Tokyo, Toronto and London. During this time, he has developed and deployed trading and risk management systems using complex custom solutions. The past five years, Laszlo had a keen interest in blockchain technologies, established a successful server farm in Canada, and has been a successful investor in several digital assets.
Laszlo saw the weakness in current carbon markets, the opportunity to bring carbon credits to consumers via retailers and the advantages of applying blockchain technologies, which he has brought together in Poseidon. He speaks fluent German, Hungarian and English, and plays polo in his free time.
Cesare brings 18 years of experience from the financial and technology sectors to Poseidon, specialising in automation, user experience and security. During this time he set up his own business, ran teams of quantitative analysts at a major Australian bank while building their new global markets pricing and risk management platform, and established the APAC customer delivery team for an international software vendor.
Cesare has qualifications in Computer Science from France’s Supélec Grande École and Electronics from the Polytechnic University of Turin, Italy. He also holds an MBA from INSEAD, one of the world’s leading graduate business schools. Cesare speaks fluent Italian, French and English, and is a passionate motorcyclist.
Chidi has spent over 18 years working in financial services industry, he supported a number of leading industry organisations in developing and delivering their front to back strategies. This included end-to-end large-scale business processes and technology change and management programs – covering operating model, functional, technical and outsourcing initiatives. He also led the UK and Ireland Trading Platforms business as part of Accenture’s Capital Markets business, successfully developing and growing the business over a 4 year period.
At Poseidon, Chidi is the Chief Operating Officer, where he is responsible for day to day operations, leading a high-performing service that underpins the foundation’s offering.
Research And Development
Ian is an accomplished designer with a reputation for innovative and radical concepts that have won him awards and accolades in diverse fields including aviation, luxury yachts and the automotive sector. He and his brother Neill formed the consulting venture Adaptive Space in 2000 and have worked with major automotive manufacturers for over a decade, including Porsche, Mercedes and Audi. Ian has developed and directed designs from concept through to production implementation, and is active in all creative aspects of component, system and total vehicle design, exterior and interior.
Ian graduated with honours in Industrial Design (Transportation) from Coventry University.
Software Development Management
Chris Porter has over 17 years’ experience as a hands-on technologist specialising in Enterprise scale integration, Agile delivery, software development, automated testing, DevOps and Cloud. He has been a Developer, a Product Specialist, an Architect, a Tester, a Team Lead, a Manager and is now Digital Transformation Director at 6point6.
Chris’s experience spans both public and private sector organisations including Telecoms, Finance, Central Government and Media and Technology.
His clients have included The BBC, Telegraph Media Group, The Cabinet Office, The Home Office, British Telecom, O2, Deutsche Bank, Experian and The International Stock Exchange.
Former Director The Prince’s Charities’ International Sustainability Unit
Justin Mundy has 30 years’ experience of working on climate change, environment and energy issues and has done so within the public, multilateral and private sectors. He is former Director of The Prince’s Charities’ International Sustainability Unit (ISU) which has been set up to reflect His Royal Highness The Prince of Wales’ vision and aims in the area of sustainable development. He was formerly managing director of Climate Change, and previously Senior Adviser to Deutsche Bank’s Global Markets Group. From 1992 – 1998 he ran the World Bank’s forestry and biodiversity programmes in Russia and Central Asia and was the Bank’s environment adviser for the region’s oil and gas sector.
Founder And CEO Dynamic Planet
Kristin Rechberger is Founder and CEO of Dynamic Planet, a company that works with businesses and governments to restore nature. This includes ‘blue finance’, environmental storytelling, and leadership engagement - so that people and nature can both thrive. Prior to founding Dynamic Planet, Kristin was Senior Vice President of Global Programs and Partnerships at the National Geographic Society for over 14 years. Before this, Kristin lived in Seoul, Korea as a Luce Foundation Fellow and traveled extensively throughout Asia designing educational systems and producing documentary films.
Founder And Managing Partner TenX Ventures Inc
Peter has over 35 years’ experience as a successful entrepreneur, business executive and thought leader. He is currently Founder and Managing Partner at TenX Ventures Inc. TenX is a Vancouver based, active, early stage Venture Capital firm that backs passionate overachievers with early stage funding, focusing on scaling up rapidly. Prior to founding TenX Ventures, Peter spent ~ 10 years growing and helping to sell three companies, with a total value of over $10bn. Before this, McCullagh was a partner at PriceWaterhouseCoopers, and a banker at Scotiabank.
Chief Executive Officer Carbon Tracker Initiative
Anthony has been Chief Executive Officer of the Carbon Tracker Initiative since February 2014. Previously he was a partner and Global Head of the Sustainability & Climate Finance Practice at global law firm Norton Rose Fulbright. Formerly he was General Counsel to the Climate Change Capital Carbon Fund and Director of Legal Policy for Climate Change Capital which he joined in September 2005. Anthony has played a key role in helping to design the UKs pilot emissions trading scheme and in developing key aspects of the EU Emissions Trading Scheme.
- Crowdsale (50%)
- Poseidon Team (7.5%)
- Poseidon Foundation (12.5%)
- Liquidity Pool (30%)
Cost of the token1 token for 0.15 Euro
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What is Poseidon?
Poseidon is a non-profit foundation which empowers consumers to rebalance their carbon impact when they buy everyday items. Poseidon does this by using blockchain technology to connect consumers and retailers directly to projects that address carbon impacts by protecting forests.
Why was Poseidon established?
The landmark Paris Agreement in 2015 took a big step forward in the global race to tackle climate change. However, even if every country satisfies their Paris commitments, there's still a big gap and that's where consumers and businesses come in. We wanted to make it easy for anyone to be part of the climate change solution. With our platform, everyone can rebalance their carbon footprints through everyday purchases.
Why is Poseidon being set up as an NGO/Foundation, not a company?
Since Poseidon's inception, the intent has been to create a non-profit entity, focused on having a beneficial social and environmental impact, rather than generating profits for shareholders. All revenues generated will go back into the Foundation, with the majority being used to purchase carbon credits.
What makes Poseidon unique?
Although there are other blockchain solutions working on climate change and we applaud them for doing so, Poseidon is unique thanks to its:
Environmentally friendly blockchain on the Stellar network that uses less energy consumption than a VISA transaction,
Ability to facilitate micro-transactions on its platform, allowing grams of carbon to be attached to products and 'retired', a term used to describe carbon credits that are taken out of circulation,
Full integration with retailers point of sale (POS) through proprietary software, making it easy to address your carbon footprint.
And finally, unlike many blockchain solutions that begin fundraising as a concept, Poseidon has built a fully functioning pilot and Ecosphere+ has a pipeline of customers eager to use it, with the first project going live in April.
Why would customers pay more for 'climate positive' products?
Consumers are becoming increasingly aware of their climate impact and are looking for ways to minimize and offset this, paying a little extra for climate positive products will enable the environmentally conscious to rebalance their emission in a quick and easy way. In fact, 72% of people between the ages of 15 and 20 are willing to pay extra for environmentally and socially responsible products and services. A recent study found that "more than 9 in 10 millennials would switch brands to one associated with a cause," and that millennials are "prepared to make personal sacrifices to make an impact on issues they care about, whether that's paying more for a product, sharing products rather than buying, or taking a pay cut to work for a responsible company."
Plus, addressing your carbon impact is cheaper than you might think; a cup of coffee costs just $0.01 to offset.
How do you plan to adapt to any upcoming regulation?
Given our position as a charitable foundation, we do not foresee the need to adapt to any upcoming regulations around cryptocurrencies. In case of regulatory changes, Poseidon is working with its legal partner, MME Legal Tax Compliance, which is a specialist in supporting blockchain technology companies as they navigate the regulatory landscape.
In addition, we are working with the government of Malta to ensure that our platform is in line with local as well as international best practices and leads the way in the global blockchain community.
How will Poseidon assess the impact it has and what does it aspire to do?
Our platform will allow for the immutable tracking of carbon credits, ensuring that there is no double counting and that as much funding as possible gets to the projects that need it.
Poseidon will make it easier than ever for consumers to measure their progress towards carbon sustainability thanks to the availability of transparent data. Poseidon can aggregate that data and present it in many ways, including grouping by geography, age and gender, among other demographics.
Our strategic partner, Ecosphere+, is part of an impact fund and as such has extensive impact reporting on the projects supported by Poseidon's platform. This data, along with photos, videos and updates from the ground are all available within Poseidon's app, so you can see your impact right down to the plot of land you've protected trees on.
When is Poseidon launching its blockchain solution?
June 2019 is set to see the full deployment of Poseidon's carbon market solution following the conclusion of fundraising efforts in June 2018. Pilot projects with retail partners, corporates, and governments are currently in development and are on the roadmap leading up to the fundraiser and beyond. We will provide visibility on these projects as soon as they become public, including reports on their impact and performance.
What are tokens? How many tokens will be created? How do I get tokens?
Tokens are a form of digital asset used to facilitate micro-transactions on a blockchain network. Micro-transactions are an inherent capability of blockchain technology, especially using the low-cost and high-speed platform provided by Stellar. Carbon is currently largely sold in tons but thanks to the immutable Stellar ledger, it is possible to split the carbon into far smaller portions. Micro-transactions at the point of sale allow Poseidon to sell grams of carbon associated with the impact of the products being bought. Find our more about how tokens work here.
Poseidon's tokens will be known as Ocean Tokens or OCEAN. 36 billion OCEAN tokens will be issued by our blockchain partner following the fundraiser. This is a fixed supply and the token volume will neither be reduced nor increased over time.
Tokens will be issued, by Stellar, to anyone who takes part in the charitable fundraiser.
Why does Poseidon use Stellar as its blockchain platform and not Ethereum?
Poseidon uses Stellar rather than Ethereum because its consensus mechanism doesn't require mining. This, amongst other reasons, means that it is an environmentally friendly platform. The network also processes transactions far more quickly and efficiently than alternative blockchain platforms, at a fraction of a cost.
What will the retail pilot projects look like?
In our pilot projects, retailers use the Poseidon platform on a trial basis, allowing them to be at the forefront of consumer engagement and blockchain technology. Retail partners in the pilot will integrate Poseidon into their existing point of sale. Transactions at that retailer can then include the price of any product's associated carbon emissions. The consumer can see their positive impact on Poseidon's app and retailers have access to a dashboard adding it up over multiple stores.
Poseidon's first pilot will launch in April, ahead of the fundraiser, to demonstrate that the technology works for real customers. We will undertake several more pilot projects and implement feedback to improve our plaform ahead its full release in June 2019.
What's Poseidon's fundraising approach?
As a charitable foundation, Poseidon will be seeking funds through a fundraiser in which donors make contributions to support Poseidon's goals. Participants will not be investing in Poseidon, rather they are contributing to a platform that will create efficiency and transparency in the carbon credit market. In turn, this will have a positive social and environmental impact, arising from the conservation of the forest areas which generate the credits.
As is typical in the blockchain space, participants will not acquire any equity in Poseidon, instead they will receive tokens from a smart contract as a receipt for their contributions and support a non-profit that will use its revenues to fight climate change.
Poseidon is currently holding private fundraising round, in which private contributors are invited to commit charitable donations to the foundation. In June, we will hold a Token Sale which will be open to the public.
It is important to note that Poseidon will not issue any tokens. Tokens will be distributed by a smart contract and are not given in exchange for contributions. Tokens are generated after the public fundraiser concludes in June 2018 and the smart contract will be responsible for the token distribution; this process is outside of the control of the foundation.
What will these funds be used for?
The bulk of contributions, 80%, will go towards purchasing carbon credits. The remaining 20% will go towards developing the blockchain platform including integrations with retail partners and other customers, operational costs, philanthropic work, as well as research and development.