When Poseidon launched, we offered the ability to address the environmental impact of greenhouse gas emissions through the support of forest conservation projects in places like the Cordillera Azul national park in the Peruvian Amazon. The financial instrument that is used to channel funding to such projects is called a carbon credit, which we had tokenized in a Stellar Asset called FCC (forest carbon credit). We processed retail transactions using a Stellar token called OCEAN, which acted as our instrument of payment. It was a closed-loop transaction in which we were the market maker and where the purpose of using the Stellar blockchain was to create an accounting record.
We would like to use the SDF grant to expand from tokenizing carbon credits to tokenizing additional social as well as environmental impacts in areas like waste, water, energy, and similar areas. We would then launch these tokenized assets on the Stellar DEX and manage Buy/Sell offers of these assets against our payment token OCEAN.
Instead of performing our current closed-loop transactions, we would submit Buy offers to the DEX and as part of a future scope opening up our offers on the DEX to retail investors.
Poseidon launched its retail solution at the Ben & Jerry’s flagship store in London in May 2018 that has been lauded by Forbes as “the first real-world example of trading carbon credits on the high street, powered by blockchain.”
We have since then worked with clients like Liverpool City Council, the government of the Isle of Man, the supercar manufacturer BAC, the shoe brand Vivobarefoot, and our solution is live in both physical as well as ecommerce stores.
We transacted almost 100,000 contributions towards social and environmental sustainability projects and invested over 1 million SGD into various forest conservation projects in Africa (Democratic Republic of Congo, Malawi, Uganda, Zimbabwe), South America (Brazil, Peru), and Southeast Asia (Cambodia).
Over the past 4 years, we have protected almost 6 million mature rainforest trees, directly supported over 150 indigenous people, conserved an area the size of 400,000 tennis courts, and addressed 12 of the 17 United Nations Sustainable Development Goals.
Since inception, Poseidon has been bootstrapped by its founders.
We are launching a new website as well as mobile app with a global focus in Q1 2022 and we are planning to expand our retail client base to Singapore as well as Indonesia in Q2 2022.
Both our new website as well as our new mobile app have been in development for several months, both are currently undergoing internal testing, and are well positioned to launch as planned.
We have been hiring developers to accomplish our Q1 and Q2 2022 targets. We are still hiring and we are aggressively engaging with marketing firms as well as corporate clients. Our discussions are progressing well and we feel comfortable to reach our milestones.
One of the greatest drivers of climate change is consumerism, and more specifically the social as well as environmental impacts of consumer products. While the end-goal has to be the development of socially as well as environmentally friendly consumer products, it would be a fatal mistake to believe that this could be achieved, on a global scale, in time to ensure that our planet can continue to support human life. It has not happened for the past 50 years, since climate change has been tabled as an existential threat, and there is no indication that this would now suddenly change within the next decade or two.
The problem is that we need a solution that works today, now, with the society and economy we live in. Everyone understands that our lifestyle is responsible for undesired negative social as well as environmental impacts. This is especially true for consumer products. Numerous studies have shown that when consumers buy a product or service they prefer those with lower negative impacts and will even pay more.
It is rarely possible for average consumers to qualify, quantify, and especially address those undesired social and environmental impacts. This is both a data and service issue.Our platform enables our clients as well as their customers to address these undesired social as well as environmental footprints and even go further by creating a positive impact.
We offer this through a fully-developed plug-and-play-ready integration that has been tried and tested for the past 3 years in various real-time scenarios with governments, corporations, high-street retail, and e-commerce. We provide consumers with a simple, fun, affordable, and empowering solution to save our planet.
Stellar has always been at the core of our technology stack after we have conducted a detailed comparison of blockchain solutions in Q3 2017. We have been using Stellar since Q4 2017 to tokenize carbon credits and have been featured by Forbes in May 2018 as “the first real-world example of trading carbon credits on the high street, powered by blockchain.”
Since May 2018, we have helped clients including Ben & Jerry’s, Vivobarefoot, and the City of Liverpool balance their social and environmental impacts. The main differentiators between us and our competitors are our real-time and seamless POS integration and our platform fee of 3%, which is by far the lowest in the industry.
Our platform is powerful and flexible, applicable to the most pressing challenges of our time. We have a track-record, a proven and tested platform, a motivated and experienced team, and we are ready to scale.
To support our goal to expand from carbon credits to other social as well as environmental sustainability projects, we seek an SDF grant of 40,000 USD at this stage.
This will allow us to hire 2 developers at a blended rate of 5,000 USD each for a duration of 4 months, which we forecast to be sufficient to develop, test, and take this new functionality live.
Our social media is currently dormant as we are preparing to launch our mobile app and revamped website. The following show our previous posts:
As a for-profit, our code is proprietary and not open-source.
Laszlo GiriczFounder / Strategy LeadBefore his emergence as a leader in eco-focused technologies, Laszlo served for nearly two decades as a business and technology expert for some of the world’s largest investment banks. His clients, including JP Morgan Chase, Deutsche Bank and UBS, enjoyed the results of his ability to develop and integrate custom trading and risk management solutions that were used in some of their most critical business sectors.
His experience in these arenas, coupled with his keen interests in nature, technology and climate change, gave birth to reduce: the platform revolutionising the world’s carbon markets by lowering barriers of entry and making the trading of carbon credits accessible. Laszlo’s goal is to allow anyone, from governments to retail consumers, to safely and efficiently access the carbon markets and take control of their climate impact.https://www.linkedin.com/in/laszlogiricz
Michael CutlerFounder / Technology LeadMichael has over a decade of lead development experience in the areas of big data, data analytics, and machine learning. He is proficient in over 2 dozen programming languages and virtually all major software development frameworks. Over the past few years, he turned his focus to the emerging technologies of blockchain and artificial intelligence. He has created real-time analytics and artificial intelligence solutions for various industry sectors.
Notably, Michael has developed various smart contract solutions on the Ethereum and Stellar platforms, gaining expert knowledge in key areas of blockchain development. Prior to joining Poseidon, he was instrumental to delivering large scale data projects for the UK Government, Spotify, Intel and Publicis Groupe. Michael studied Computational Physics at Heriot-Watt University.https://www.linkedin.com/in/michaeljcutler
Alexander GnauckMarketing LeadAlex has lived on all continents and brings over two decades of B2B brand building and B2B brand strategy experience to Poseidon. As the founder of the Stuttgart based brand consulting agency medienformer, which has been operating since 1998, he is responsible for the marketing and branding of Poseidon and heads the communications team.
Alex created a B2B focused strategy called brand polarisation that enables companies to use a unique method to develop their brand and steer their marketing teams. Together with his team at medienformer, Alex has successfully used this strategy to relaunch leading brands with annual global sales revenues in excess of €5 billion. Notably, medienformer is the brand consulting firm for the single-seater supercar Mono, built by Poseidon's strategic partner BAC. Alex graduated in marketing and communications design in Stuttgart.https://www.linkedin.com/in/alexander-gnauck
Marius DanoBusiness Dev LeadA seasoned strategy, business development, partnerships & project management professional with a 25-year career spanning environmental sustainability, financial services & fintech, as well as telecoms industries.https://www.linkedin.com/in/marius-dano-sg
Ian BriggsInnovation LeadIan 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.https://www.linkedin.com/in/ian-briggs-08b51038
Emmanuel AngFull Stack DeveloperEmmanuel graduated in Information Systems from Singapore Management University (SMU). He also graduated from Singapore Polytechnic (SP), emerging as 2nd in the cohort for Diploma in Infocomm Security Management course. He completed SP's Diploma Plus Program while pursuing his diploma and was awarded a certificate in Digital Media Creation. During his time at the Singapore Armed Forces, Emmanuel graduated from the Signals Specialist Cadet Course as the top of the cohort during national service and was appointed as Signals Platoon Sergeant.
Emmanuel has a rich experience in software development and is instrumental in taking Poseidon to the next level.https://www.linkedin.com/in/angkaheng
Audrey Thai (starting in December)UI/UX DeveloperAudrey is a UX Designer with marketing experience that involves both creative and innovative thinking to invent and develop fresh ideas to captivate the audience. Her passion for user-centric solutions has motivated her to dive into the UX field. Audrey is constantly learning new as well as developing her existing skills, from user research to wireframing, prototyping, copywriting, and visual communication.
Audrey is working in the technology team on our direct-to-consumer offering, most importantly currently on our upcoming mobile app and web-based solution.https://www.linkedin.com/in/audreythai
The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.