Climate change has been a big problem this decade. We have got the climate against us, we have destroyed it, we broke it, we broke the ecosystem. Now it is so fed up of us treating it like trash that it’s playing games on us. It’s karma; what goes around come around.
The environment has turned so unpredictable that we don’t whether to expect sunshine or rain. February has almost ended and it’s still cold out there though the last year it was the opposite; so we don’t know what’s happening!!
Can Blockchain save our environment?
Blockchain is solving a lot of things, from cancer to poverty; so can it save our climate too? Is it too much to ask for? Is this wishful thinking?
Last year in October, the UN warned us that we only have 12 years to get our act straight, if we aren’t able to solve this problem then we sure brace ourselves for extreme heat, drought, and floods. The damage could even displace more than 143 million people over the next three decades.
So how can blockchain help?
Measurement and tracking are the core part of overcoming the climate challenge. We can track how each country is doing as a whole to reduce the carbon print and we can even track on a micro level by targeting how businesses are doing.
Blockchain can help us tokenize real-world assets like carbon credits and green energy. These assets are tradeable which will create value and incentive climate change efforts among nations and companies.
Our Knights in Shining Armors
Blockchain Climate Institute
An international, non-profit, volunteer-led entity is on a mission to ‘raise awareness among the international climate change policy community of the tremendous potential of Blockchain technology to considerably enhance climate actions.”
It has set targets for three main areas:
- To help fill the funding gap between the investment needed for climate change and the amount that countries have agreed to pay under the Paris agreement
- Increasing transparency in climate funding
- Aid developing countries to generate climate finance
Climate Ledger Initiative
Yet another group dedicated to the research and development of blockchain climate change solutions.Clean Tech21 is the brain behind this initiative. It is also backed by governments of Switzerland and Liechtenstein, both providing it with funding.
Last year they published a comprehensive paper detailing various ways in which blockchain climate change initiatives could improve the cause. This included blockchain in carbon pricing and taxation as well as token-based crowdfunding for climate change initiatives.
Just like the technology, blockchain, climate change is also in its initial stages. There are many people working towards it however it is still not “out”, if you know what we mean. There are research-based groups and think-tanks but the work is still not in motion.
As the blockchain continues to grow and gain trust of users and enterprises it will soon make things easier more accessible.