Blockchain technology could potentially fight climate change

By Daniel Zo Blockchain, Environment

The Blockchain has often been praised for the wide variety of benefits that it has, and huge potential on the market. People have discussed how it can be used to send money, pay taxes, place votes and even trade stocks, yet the number of possibilities seems infinite.

Recently, interesting discussions have been taking place on the subject of how the Blockchain would help us fight and stop climate change. It could potentially allow people from all around the world to no longer need energy companies, and work together towards meeting energy saving goals.

Blockchain

To put things better into perspective, climate change represents an issue that we are all responsible for, and that everyone should work together on, in order to make it stop. However, the key issue isn’t the fact that governments are still seeking profits and refusing to lower the use of hazardous materials, but rather that those who want to help the environment, don’t have a method of working together in the true sense of the word. This could change with blockchain technology, as it could potentially make middle mans and bureaucracy obsolete, while also granting climate change advocates and anyone else who is interested, access to a platform where problems can easily be tackled and solutions found. An example in this direction is a recent successful trial that allowed people to share renewable energy between themselves in New York, all via the blockchain.

However, this example is one of the many other potential solutions. For instance, the blockchain could provide clear, accurate data on aspects such as emissions from cars, or manufacturing companies. In return, this would provide better diagnosis, and problems could be solved quicker and better.

Back in May of 2017, at the United Nations Climate Change Conference, the topic was debated quite a lot. Some of the ideas that were discussed include clean energy trading between individuals, financing climate change research transparently, accessing clear data on carbon emissions, but also tracking all sorts of emissions and attempting to reduce them, through hubs of people who are looking forward to stop climate change, and make the world a cleaner, healthier and better place to live in.

Judging by the fact that climate change still remains a huge controversy around the world, there will surely be numerous steps to be made before the blockchain can be used to help stop the phenomena. However, we seem to be on the right track for now. What do you personally think about this use of blockchain technology? Let us know your thoughts in the comment section below.