With increased frequency, the world is dealing with new, and sometimes catastrophic, environmental challenges such as plastic pollution, flooding and melting ice-caps. And while there are lots of reasons to be pessimistic, emerging technologies are being developed that may help to reduce the impact of climate change and improve the environment. Blockchain is one of these technologies.
At Peerplays, we believe blockchain is the perfect technology for tracking and storing environmental data since it is a distributed database that permits safe, open transactions. As a result, there are numerous advantages and methods that blockchain can support the environment.
Furthermore, blockchain has already had positive impacts on countless industries such as manufacturing, healthcare, education. A key characteristic of blockchain is its decentralized nature. Put simply, blockchain can help the environment by decreasing fraud and boosting corporate transparency. It helps organizations in being more eco-friendly, saving money on energy bills, and increasing productivity. Here are five practical ways we believe blockchain can help the environment and combat climate change:
Reduced Paper Waste for a better environment
Every year, over 400 metric tonnes of paper are produced globally. Consequently, manufacturers use this paper to print everything from receipts, legal documents, etc. By reducing the need for paper records, blockchain can reduce the number of paper products and save our precious forests.
Blockchain’s ability to reduce paper waste is one of the most promising applications of this technology. As an example, governments often record land titles in physical filing cabinets. This system is not only inefficient in today’s world, but it’s also vulnerable to unwanted tampering, fraudulent use and damage. With blockchain, valuable documents could be stored on a secure, decentralized network that would be virtually impossible to tamper with.
Tracking Greenhouse Gas Emissions
Blockchain can help the environment by tracking dangerous greenhouse gas emissions. For instance, a company that wants to offset its carbon footprint can employ blockchain to track its emissions. This allows the company to track its progress and ensure that its offsetting efforts are working as intended.
For example, IBM has built a blockchain technology that operates in real-time, enabling businesses to monitor their carbon output. This is a major step forward, allowing businesses to pinpoint and address problematic areas in their carbon footprint.
Creating a Sustainable Supply Chain for a green environment
With blockchain, businesses can track their products across their entire supply chain. This tracking ability provides much-needed transparency in supply chain management and can help to ensure that products are sourced ethically and sustainably. As an example, Blockchain technology is helping combat illegal fishing practises in the Pacific Islands.
Reduced Food Waste
According to the UN, nearly 50% of all fruit & vegetables produced globally are wasted each year. Using blockchain, we can reduce unnecessary food waste by ensuring that food is only produced when and where there is a demand. By using supply-demand algorithms backed by consumer behavior and agricultural sciences, we can obtain more precise data and record this information using blockchain. As a result, this helps preserve the freshness of the harvest from the field to processing plant and to all other stops further down the supply chain.
Using blockchain technology, a recycling program could offer participants a digital token as payment for participating in the program. Programs could reward people for recycling plastic bottles, cans, and other containers. Pilot projects that use innovative data collection to encourage recycling and responsible waste management are already underway in Argentina, India and the U.S.
These are just some of the many ways in which blockchain technology could benefit the planet. For more information on how Blockchain is transforming additional business sectors, please visit our blog.
We are dedicated to empowering people’s freedom to create greater outcomes, giving them control over how they own and collaborate worldwide. The core foundation for Peerplays success in 2023 relies primarily on the release and promotion of mechanisms incorporating decentralized ID, gamification, and ‘handshake’ like onboarding that is easily accessible to people who use smartphones. At Peerplays, we are on a mission to revolutionize the world of blockchain technology and empower individuals with the freedom to take control of their digital lives. To achieve this ambitious goal, we are constantly on the lookout for the most talented individuals who share our passion for innovation and our commitment to decentralization. If you believe in the transformative potential of blockchain technology and are eager to contribute your skills and expertise to this groundbreaking project, we want to hear from you.