Blockchain Can Help the World in Many Ways

The World Economic Forum published a report on the potential of blockchains to address and mitigate environmental problems. The report identified 65 existing or emerging environmental use cases of the blockchain.

 

The cases are divided into six main “game changers”:

 

Transparent supply chain

The blockchain records and allows shared access to each transaction completed, such as ripple blockchain and xem nem blockchain. The transparency allows companies to fulfill any environmental or sustainable commitment by proven source. But it can also help the industry manage resources to ensure sustainable practices.

 

Decentralized resource management

Decentralized platforms can collect information from energy grids and water systems, which can end the asymmetry in energy production and clean water production, enabling better system design and management. Additionally, a decentralized P2P utility platform enables resource transactions to more efficiently distribute power and water while reducing intermediate links.

 

Financing

The blockchain platform simplifies investment in retail companies alike ethereum exchange. It allows environmental projects to pool resources from a larger pool and free up previously idle capital. Besides, the tokenization of financial investments can eliminate the need for third parties, making the process faster and more efficient. It also enables stakeholders to participate.

 

Circular economy incentive

By motivating people to recycle, the blockchain system can release economic value from other waste, which will reduce the waste we produce and change our attitude towards these products.

 

Carbon market

Those who are critical of the carbon credit trading system often believe that the carbon credit trading system lacks traceability, laws and jurisdictions, and there is a possibility of double counting. The transparency of the blockchain provides a solution to these problems, potentially allowing a viable carbon trading system.

 

Sustainability monitoring

The transparency of the blockchain enables people to monitor government and company requirements. Therefore, it encourages them to improve their performance and ensure a more sustainable approach.