What do climate change and blockchain have in common? Regen Network.
Blockchain technology is known for many things: decentralization, redistribution of power, financial gains or innovation. But one thing in particular that we constantly hear about blockchain technology is that it is damaging the environment because of its massive electricity requirements. In this article we are going to focus on this aspect and by the end of it you will not only understand better the relationship between this revolutionary technology and our planet, but we will provide answers on how any individual can contribute to the merging of technology and nature for a thriving planet.
What is blockchain technology?
Blockchain is a state-of-the-art technology which is essentially a digital ledger of transactions that is distributed across an entire network of computer systems linked using cryptography. By design, a blockchain is resistant to modification of its data which is one of the reasons why it is also trustless, enabling the access to decentralization by eliminating the need for many trusted third parties.
Does blockchain technology really damages the environment?
Ever since blockchain gained attention, there was a lot of speculation around the fact that the backbone of the technology, and especially the Proof of Work (PoW) consensus method, is damaging to the environment because of its high electricity consumption. The truth is, there are many aspects in which we could approach this topic. While it is true that both Proof of Work (PoW) and Proof of Stake (PoS) networks do require a high amount of energy, we do not have to forget that its wider, global adoption, will eliminate a lot of third parties like different financial institutions, banks or traditional systems. Therefore, blockchain’s resources requirement is not necessarily an add-on to the already existing electricity consumption, but rather a transfer from traditional systems to new, decentralized infrastructures.
In addition, the source of electricity plays an essential role in determining whether PoW or PoS networks are really detrimental to our planet. With more electricity being generated through renewable sources, this will become less and less of an issue. In the end, it is not about perfection, it is about damage limitation and the positive impact of blockchain technology on the humanity and planet is exponentially greater than the inconvenience of high electricity consumption. Now let’s focus on this last part.
How can blockchain technology help our planet?
The methods in which we can leverage the technology for the greater good are endless. Besides the fact that blockchain empowers decentralization and is a catalyst for groundbreaking changes in our economy, it also provides the perfect platform for developers and entrepreneurs to start working on their ideas and have an impact at a global scale.
One project that succeeded at bringing blockchain and our planet in the same equation, with the mission of fighting climate change and continue to work towards a thriving planet, is Regen Network.
What is Regen Network?
Our planet suffers greatly from the negative effects of climate change.¹ As a long term inaction is more expensive than action, measures have to be taken now in order to avoid the situation of not being able to reverse the damages done to our natural ecosystems. Here is where Regen Network comes into play, by being a blockchain based project that aligns economics with ecology to drive regenerative land management. The platform allows land stewards to sell their ecosystem services directly to buyers around the world. By leveraging blockchain technology, the project’s mission is to incentivize regenerative land use practices, restore ecosystems and reverse climate change. How can this be possible? Through the Regen Ledger, a Proof of stake (PoS) blockchain developed with the Cosmos Software Development Kit (SDK) built for verification of claims, agreements & relevant data. The Regen Ledger empowers multiple registries to communicate and transact with each other producing an open and public ecological accounting system.
How can I get involved in Regen Network’s mission?
The best part about Regen Network is that everyone can join the process and reverse the negative impact accumulated on our planet. From developers, to land stewards, individual buyers, validators, business buyers, token holders or delegators, there is a place for everybody to bring their contribution, regardless of their geographical region, background, skills or time-zone. Having a positive impact in the world has never been easier and by joining the Regen Network community you now have the chance to bring awareness on the amazing positive impact that blockchain can have on our planet. With the Mainnet launch coming soon, the times to join the ecosystem is now.
If you want to join us in this journey but still have some unanswered question, let’s have a chat on Telegram!
About Regen Network
Regen Network aligns economics with ecology to drive regenerative land management. Using a distributed ledger and modern remote sensing technology, the team is creating new tools for how humanity relates to its environment.
About Chainode Tech
Founded in early 2019, Chainode Tech is a young, extremely motivated and experienced team based in Zug, Switzerland, that is focused on providing staking and validator services on cutting edge Distributed Ledger Technology (DLT) protocols.
In addition to Regen Network, Chainode Tech is active as a Validator also on multiple other Testnet and Mainnet networks, such as Solana, The Graph, Harmony Protocol, ICON Network, KAVA, Akash or CertiK.
