How blockchain is helping fight climate change with these projects
The world is full of diversities, with people following different religions, ethics, and principles. The one thing that binds all humans together is nature. Any change in the global climate affects every single one of us. Therefore, it’s about time that people from all over the world come together to reverse the harmful impact of climate change.
Technology, another constant in human lives across the planet, will play a vital role in this fight. Experts around the world are betting on blockchain technology. Our team decided to look into some noteworthy projects that are using it to fight climate change.
United Nations puts together blockchain coalition to fight climate change
The United Nations is one of the frontrunners in the fight against climate degradation. The global institution is aware of the potential of blockchain technology towards this cause. Hence, it has put together the Climate Chain Coalition to identify how distributed ledger technology (DLT) can improve current projects and climate preservation initiatives. The coalition has more than 32 members working on sustainable development projects using blockchain technology.
How these projects are using blockchain to preserve the environment
Carbon Credits Platform: IBM is working with Energy-Blockchain Labs
IBM is working to streamline the carbon credits industry in China. It is doing so in collaboration with Energy-Blockchain Labs through blockchain technology. The coalition aims to create a platform for direct exchange, development, issuance, and management of carbon credits among enterprises without requiring regulatory intervention from the local government. Cao Yin, Chief Strategy Officer of Energy-Blockchain Labs estimates that “the platform will reduce the cost of carbon assets development by 20 to 30 percent.”
Over 15 Startups in energy management and P2P power trading
With the declining prices of solar power installation, businesses and individuals around the world are continuously improving their solar power generation capabilities. However, efficient trading of this additional power is a growing issue. Startups like Conjoule, SunContract, Electron, and many more are developing platforms for peer-to-peer energy trading using blockchain technology. Through smart contracts, individual power producers can easily manage their energy distribution, billing, and accounting.
Waste management and recycling projects
Plastic waste management and recycling is a global problem. While some countries are excelling in plastic recycling, a significant part of the world is still looking for solutions to handle this environmental threat. However, Plastic Bank has an answer for this burgeoning issue. The non-profit establishment incentivizes plastic waste collectors for their hard work. Plastic collectors can choose between a stable cryptocurrency, which can be exchanged against their preferred crypto asset, and a token that can be used to order items, school supplies or smartphones, directly from Plastic Bank. The project eliminates frauds in compensating waste collectors. RecycleToCoin is another initiative working in plastic waste management and recycling industry.
Playing our part in climate conservation
TreeCoin understands the threat posed by climate change. Moreover, it is dedicated to developing a sustainable resource development and management model for the timber industry. TreeCoin aims to plant over 10 million trees across Paraguay. This will cover more than 12,000 hectares of land during its initial stage. We aim to inspire fellow timber producers through our sustainable plantation and distribution model. Additionally, TreeCoin plans to run multiple social programs to benefit local residents.
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Originally published at https://tree-coin.io on August 19, 2019.
