In the business world, change is the only constant. But Blockchain remains one theme that continues to dominate the headlines. Blockchain technology has been commended for its capacity to streamline operations and reduce costs while providing business environment transparency and security.
One aspect of this new technology that is often overlooked is how it can also help shape the future of our planet. Indeed, blockchain technology can be utilized in many ways to solve environmental problems globally.
How to save the environment Blockchain
There are a number of serious challenges facing the environment. The planet’s impacts on our health and the future of our planet are from air pollution to climate change in many negative ways.
Those issues are becoming ever more conscious all over the world. More and more people are working to solve each of those problems but the environment can make a big difference in blockchain technology.
For one thing, Blockchain can be used to give new and creative donations to environmental charities. Next Earth, for example, is a virtual Earth replica on BSC, which allows users to buy NFT land titles from the Freiheitenstatue to the White House. The environmental reasons account for 10% of the value of these purchases. Next Earth raised over 1.3 million dollars in the world’s first Initial Tile Offer, meaning over 130,000 dollars has been donated to charities like Amazon Watch and the Ocean Cleanup.
This is to say, $10 would go to environmental causes if you were to become the metaverse landowner in Next Earth and buy $100 of virtual property.
Tackling climate change
In addition to donating exclusively to charities, Blockchain also has the potential to help combat climate change.
The Blockchain Coalition, for example, launched a tradable carbon loan token that would allow broader participation and exposure of the investor to new asset groups in carbon markets. Such innovation could reduce emissions of CO2 across all sectors and improve air quality in cities with particularly high pollution levels.
The advantages of using blockchain to protect the environment go beyond just helping people to make their money a worthy cause. By facilitating companies to track their impacts on the environment, Blockchain can also help to save the planet. The natural progress from returning to nature conservation finds ways to monitor your impact, to change where they are most important: within your organization and within your industry.
Recycling incentives and waste reduction
In addition, blockchain was used with startups such as the Plastic Bank to encourage and track recycling. Plastic Bank uses blockchain to make the collection of astonishing 1 billion plastic bottles transparent in the recycling and tracking processes.
The use of blockchain to track and boost recycling can take a long way to reduce this problem. Plastic is an important environmental concern.
Blockchain can also help to reduce waste, besides improving the environment. For example, almost half of food produced in the US is never consumed with current methods of shipping food. This means we should dramatically increase production to keep up with global food demand. This requires not only more land and natural resources, but also an increase in packing pollution.
By improving supply chain management, blockchain has the potential to reduce food waste. According to IBM, blockchain-based supply chain technologies might save up to $120 billion annually in food loss and waste.
Finally, while blockchain has its own set of issues to address, particularly in terms of consensus mechanism efficiency, they are being actively pursued. Meanwhile, blockchain-based technologies are being utilized to affect the future of the Earth in a variety of ways, ranging from NFT-based charitable contributions to tracking plastic trash and even optimizing food supply networks.