Sustainability and Blockchain: A combination towards earth’s economy regeneration

Inspired by the influential speed of Renegade Economist Kate Raworth “A healthy economy should be designed to thrive, not grow,” the idea of this post was birthed with an unconstrained way. Ms. Raworth in her speech managed to highlight the necessity of reversing the fundamental principle of continuous growth within global society and introduce the term “thrive” instead of “grow” in the vocabulary of modern societies.

Since early 1930s, societies are totally addicted to mass consumerism, as the classic masterpiece of W.W. Rostow “The Stages of Economic Growth: A Non-Communist Manifest” refers, struggling to fly to the moon exploiting natural and economic resources. However, even though global GDP is 10 times bigger than it was in 1950 and that increase has brought prosperity to billions of people, the global economy has become incredibly divisive with the vast share of wealth now accruing to a fraction of the global one percent. Moreover, it can be easily said that economy has become incredibly degenerative and destabilizing for the entire planet. Nevertheless, this generation has the potential and mostly the knowledge to change the plans for the future growth of the global.

Ms. Raworth invites humanity to a new shape of progress where technology prevails. The modern economies should be regenerative and distributive by design creating economies that operate with and within the cycles of the living world, so that the resources are never used up but used again and again.

The striking point mentioned above is regenerative and distributed. Since regenerative is easily understood as explained, distributed needs a bit more elaboration. The 20th century-centralized technologies, wealth, power and institutions concentrate power in few hands. This century, humanity has the means and the knowledge to distribute wealth, power, knowledge and empowerment to many. Here easily comes Blockchain technology to intervene and accelerate the process.

Blockchain technologies have developed rapidly over the past few years having a profound impact on development-oriented investment, not only by revolutionizing the global payment systems but also through major improvements to access to finance, supply chain management, digital identities or land registries. The potential of Blockchain to support sustainability comes down to one key feature: Blockchain’s ability to provide a verifiable record of who exchanges what with whom — and therefore who has what at a given time. Blockchain can be used to reinforce entitlements to use a natural resource, substantiate claims of reduced environmental impact and incentivize environmentally sustainable actions.

SocialPolis Coin has been created in order to become an answer to the need of an alternative financial transactions system using Blockchain for the Social economy and Sustainable Development sectors worldwide. Having trust and transparency as top-rated priority aims to become the world’s safe-haven cryptocurrency that enables a technological disruption in the Social Economy, Solidarity and Sustainability.

Summing up, growing is undeniably good but could be a threat to our ecosystem if it is eternal. We urgently need financial, political and social innovations that make us overcome the dependency on growth, focusing on thriving instead. Blockchain is a tool that may break the boundaries and unleash our potentials.