If humans are to blame for global warming and the decay of the Earth’s environment, can we rely on the technology humans have created to solve the problem?
Many seem to think so – and they see blockchain as the answer to this particular problem.
But how close are we really to using blockchain for environmental protection?
Smart contracts can be used to enforce the Paris Agreement, enable micro-grids to buy and sell solar power on the open market, and incentivize individual eco-friendly activities.
Here are some of the most promising environmental projects in the blockchain space that are already causing a change.
1) The Blockchain for Climate Foundation
The Blockchain for Climate Foundation is a non-profit organization whose mission is to put the Paris Agreement on the blockchain ecosystem by using the platform to connect national carbon accounts of all the signees.
This would encourage and allow all the efforts of reducing carbon emissions to be completely transparent and available to the general public, thus raising its awareness of the authorities’ actions in this regard.
“A national accounting of emissions, connected through a ledger recording international transfer of emissions reductions, enables transparency and accountability on who is doing what for the climate. This in turn paves the way for proactive investment into climate projects, technologies, and policies by creating a financial pathway for incentivizing emissions reductions and increased ambition,” states the Foundation on its website.
This way, by using blockchain for the environment, all the countries in the world – big and small – would be linking their efforts with both their friends and rivals for a common cause. They would be building an immutable database that would secure the issuance, transfer, and destruction of tokens based on tangible actions to reduce carbon emissions.
“…if humanity is serious about stopping climate change, then these carbon assets will be some of the most valuable, economically fundamental assets in the world,” adds Joseph Pallant, the Foundation’s founder.
WePower is a European blockchain-based startup that created its own cryptocurrency – PWR – as part of the effort to leverage the benefits of green energy.
By connecting blockchain and the environment, their idea was to create a free and open market for buying and selling power directly from small producers with access to renewable energy sources, such as solar panels, wind turbines, etc. This helps bypass the middleman – power companies that are monopolizing the market – and create a more competitive space.
Moreover, it would reduce costs and increase efficiencies – by encouraging more individuals (and micro companies) to move onto renewable energy sources. They could, in turn, cash in by selling the excess and having lower production costs, not to mention, exert a great blockchain environmental impact.
This project is the perfect example of how blockchain technology is in service of all people and for everyone invested in rejuvenating the planet. By making power a tradeable resource that is accessible to anyone, it would place control in the hands of people instead of large corporations.
EnergyMine is a blockchain-based startup on a mission to encourage people to reduce their carbon footprint by rewarding them with ETK. These are their native tokens that are acting as rewards or credits for minimizing one’s carbon emissions by taking public transport, purchasing energy-efficient appliances and vehicles, and performing other actions that instigate lower energy consumption and ensure blockchain environment protection from the ground up.
Furthermore, the tokens have market value enabling holders to redeem them to pay energy bills, recharge electric cars, and even exchange for fiat currencies.
Essentially, EnergyMine has found a way to leverage blockchain technology to enable ordinary people to earn money by acting in an environmentally responsible manner, which is huge not only for mass adoption of the blockchain platform but also for influencing the way people think and behave towards the planet.
As a pro-green company, AIKON is invested in bringing as many people to the blockchain environment in a painless manner as that would give them access to ecologically conscious projects such as these.
We believe that by providing a means of friction-free access to blockchain via ORE ID, we are able to facilitate the adoption of green initiatives on a larger scale than ever before, and thus give our contribution to the long-term sustainability of such projects and overall resolution of the problem.