November 27, 2020

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Blockchain for the environment is real

2 min read
Blockchain for the environment is real

 

Recently, climate change has been a very common topic not only in the news. Some governments and companies are committed to taking action to combat environmental pollution. How can blockchain help in the fight for environmental protection?

 

Blockchain for environmental protection

 

For many people, blockchain is synonymous with cryptocurrencies, specifically Bitcoin. However, technology can also streamline processes, eliminate unnecessary parts of the supply chain and reduce inefficient intermediaries and reduce costs.

 

Beatrice Marchi from the University of Brescia, Italy, gave a report to the European Council on the energy efficiency of blockhain. The aim of this work is to explore how blockchain can transform the current energy market.

 

The report states that public service companies could use blockchain technology to show consumers that their energy comes from clean and sustainable sources. This will enable consumers to distinguish companies that use renewable energy from those using coal, oil or natural gas.

 

Environmental protection projects

 

AmpleMeter, Mobi and SolarCoin are among the first projects to use blockchain to address the most important environmental issues. The highest environmental concerns come from the United States.

 

Research has shown that climate change is a major threat to the well-being of citizens. Compared to 2013, environmental concerns have increased from 40% to 57% this year, with 94% of the country’s liberal democrats considering the climate as a major threat.

 

AmpleMeter is a community project that supports students and staff at universities. Australian Mobi aims to create a blockchain platform for electromobility in the country. And SolarCoin is a decentralized reward program that encourages energy providers to acquire digital tokens.

 

Summary

 

Blockchain is a young technology that brings new solutions to burning problems. Technology can thus have a chance to demonstrate its role in improving the environment. Investors can thus support blockchain-based projects.

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