The whole world is facing the wrath of Mother Nature and with the help of blockchain technology, environmental issues can now be addressed accordingly.
Over the years, technology has aided in providing us with the luxuries in life. It has made it easy for us to live the life that we want. Electricity has been very useful in giving us energy to power our resources at home and in the office. Factories use coals to generate electricity for operation. But everything has a price and we are now paying extremely for it.
Countries around the world are trying to find ways to counter climate change. In mid-September 2018, the World Economic Forum (WEF) issued a report regarding how blockchain technology can be employed to tackle grave environmental issues. The said technology can better handle a shared global environment. Moreover, it can help boost unceasing development and value creation.
According to the report, most of the world’s existing environmental issues can be tagged to industrialization. In particular, the acceleration in global economic activity which started in the 1950s.
It might be that blockchain technology is still in its early phases of development and application. The WEF, however, argues that if blockchain could keep up to its promise it could change the way society functions. It will turn into one of the most important innovations ever since Tim Berners-Lee invented the web. The possibility to leverage the blockchain to help deal with environmental issues is, in the same way crucial.
The WEF evaluation has recorded more than 65 blockchain use-cases which are specifically applicable to environmental issues. These include climate change and loss of biodiversity, diminishing air quality, heated oceans, and increase in natural calamities to name a few.
The blockchain use-cases are used in the following:
Transparent supply chains. It could be one of the foremost commercial blockchains in development. The supply chains’ infrastructures and processes are notably less complicated compared to healthcare, financial services, and other health industries. It aims to speed up, secure and maximize the validity of financial and commercial arrangements. Also, it will trace the supply chain life cycle of any product or element. Lastly, it will reliably safeguard all data and transactions running through the supply chain.
Catastrophe alertness and humanitarian relief. Weather forecasting is important for the awareness of billions of people. WeatherBlock uses blockchain technology to forecast weathers. In this way, people are warned of the impending calamities and get them prepared before it strikes. Because the frequency and the number of natural and man-made disasters continue to rise, it needs to be addressed appropriately. An extensive effort should correspond to the complexity of the developing interdependent systems and networks being relied upon.
Decentralized and feasible resource governance. Blockchain can bolster an evolution to decentralized, pristine, and more resource-efficient energy and water systems. Such platforms can systematize appropriated information on these resources. Blockchain-enabled platforms could deal with decisions having only partial information. The technology could enable more informed decision-making as well as decentralized on these resources.
She lets everyone become aware of what is happening to our beloved planet Earth and its inhabitants. She can take you beyond the space and find out how neighbor planets are doing. Moreover, she would open your eyes to the things what makes the Earth suffer including the living species and allow you to decide what you can do to help save the planet and the future generation.