5 Ways Blockchain is Making Our World Greener
With increased frequency, the planet is dealing with new, and sometimes catastrophic, environmental challenges such as plastic pollution in our oceans, coastal 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. 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 ways and advantages that blockchain can provide to support the environment.
Blockchain technology has already positively impacted countless industries such as manufacturing, healthcare, and 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 be more eco-friendly, save money on energy bills, and increase productivity. Here are five practical ways we believe blockchain can help the environment and combat climate change:
1. Reduced Paper Waste
Every year, over 400 metric tonnes of paper are produced globally. This paper is then used for everything that is printed in the physical world, from receipts, legal documents, product flyers, etc. By reducing the need for paper-based records, blockchain technology can help reduce the amount of paper products produced and, in turn, take a major step forward in protecting our precious forests.
Blockchain’s ability to reduce paper waste is one of the most promising applications of this technology. As an example, land titles are typically recorded on paper and stored 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 or destroy.
2. Tracking Greenhouse Gas Emissions
Blockchain can help the environment by tracking dangerous greenhouse gas emissions. For example, any company that wants to offset its carbon footprint can employ blockchain to track its emissions, in real-time. This allows the company to track its progress in reducing emissions more accurately 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 of their carbon footprint.
3. Creating a Sustainable Supply Chain
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 ensure that products are sourced ethically and sustainably. As an example, Blockchain technology is helping combat illegal fishing practices in the Pacific Islands.
4. Reduced Food Waste
According to the United Nations, nearly 50% of all fruit & vegetables produced globally is wasted each year. Using blockchain to track food items, 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. This helps preserve the freshness of the harvest from field to processing plant and to all other stops further down the supply chain.
5. Effective Recycling
Using blockchain technology, a recycling program could offer participants a digital token as payment for participating in the program. Recyclables like plastic bottles, cans, and other containers would be rewarded with this type of payment. 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.
Peerplays is an open-source blockchain that provides the fastest, most decentralized network consensus model available today. Peerplays is built with Graphene technology and Gamified Proof of Stake (GPoS), bringing a new paradigm of fairness, trust, speed, and security. We provide you with decentralized systems and tools to help you regain control, power, and freedom. We call for an empathetic approach that mirrors human interactions, rather than machine-like approaches. We’re getting the world of blockchain connected through SONs. Please visit peerplays.com for more.
Peerplays Blog – https://www.peerplays.com/news-articles
Join us LIVE on Rocketchat: https://chat.peerplays.live
Reddit – https://www.reddit.com/r/Peerplays/
Telegram – https://t.me/Peerplays