Building a Better Blockchain Environment
A Blockchain Environment Future
The concept of a blockchain environment continues to spark the imagination of developers across the globe. As you will soon learn, the transparent and immutable nature of blockchain technology makes it ideal for a number of environmental-saving tasks. Today, developers are intent on integrating blockchain technology into a variety of sustainable projects.
Saving the planet isn’t an easy task. Luckily, technology now exists to transform outdated and wasteful practices. The earth is in dire need of support. According to a recent report published by the United Nations Environmental Program, the earth’s temperatures continue to rise at an alarming rate.
While this may be welcome news for those currently in the middle of a chilly winter season, the rising sea levels wreak havoc on islands and coastal cities. A study published by Yale showed that the oceans have risen at unprecedented levels since the seventies. The same report detailed that the rate at which the ocean levels increased doubled from around 0.06 inches per year to 0.14 inches per year in 1993.
This information is a real cause for concern and not just for environmentalists. Both governments and private businesses are poised to take on $14 trillion in damages a year according to a recent study conducted by the UK National Oceanographic Centre (NOC).
Building Block(chains) for a Better Planet
Recognizing the need for change, the World Economic Forum published Building Block(chains) for a Better Planet. This paper lays out 65 existing and emerging blockchain environment projects that have the potential to counter the current state of degradation the planet is undergoing. The study lays out six global challenge areas:
- Climate Change
- Biodiversity and Conservation
- Healthy Oceans
- Water Security
- Clean Air
- Weather and Disaster Resilience
As the world attempts to combat the environmental challenges listed above, a number of multi-national blockchain climate organizations have formed. These groups take a more proactive approach to the problems facing our environment. One of the most well-known blockchain environmental groups in operation today is the Blockchain for Climate Foundation.
Blockchain for Climate Foundation
The Blockchain for Climate Foundation seeks to place the Paris Agreement on the blockchain. The Paris Agreement is an international strategy for the reduction of harmful greenhouse gases with backing from 195 signature countries.
There are many reasons why a blockchain-based strategy makes sense. First off, migrating the Paris Agreement onto a blockchain allows countries to monitor global emissions in an open and transparent manner. Also, the move shrinks monitoring costs significantly. As it stands now, the group hosts tours promoting the benefits of such a merger.
Blockchain Environment Programs Already in Motion
Luckily, the blockchain space is all about innovation and sustainability. To this end, numerous private and government-run blockchain environment programs currently exist. These programs combine the ingenuity of crypto developers with the hopes of environmentalists. Here are a couple of the most noteworthy examples:
Solar Plastic: Plastic Bank
The Solar Plastic platform seeks to incentivize the recycling process. Plastic waste is a huge concern for environmentalists. A recent Huffington Post story titled “Our Oceans are Drowning in Plastic” highlights the problems these developers seek to alleviate.
The concept behind Plastic Bank is simple. Participants are paid in cryptocurrency for recycling their plastics. The platform pays people slightly above the market rate for their plastic waste. This strategy keeps our oceans clean and empowers recycling efforts globally.
The Electron platform combines the security of blockchain technology with the hi-tech features found in today’s digital electricity meters. This project facilitates the move towards smart grid systems that determine the most efficient energy distributions strategy automatically.
This UK-based energy distribution platform has the ability to scale to 53 million meters and over 60 different electrical providers. The team behind the project seeks to reduce the centralization currently in place within the country’s power sector. The platform allows for a decentralized approach to the problems of power generation.
The Brooklyn Microgrid project combines a number of innovative technologies to create a communal energy network. The platform is unique in that the energy company still holds responsibility for maintaining the infrastructure. Any unused energy gets exchanged between participants.
The project currently has a building in Brooklyn, NY equipped with solar panels. The energy produced by these panels distributes to all of the participants in the microgrid. And, each participant receives an allotted amount of electricity. Members are able to sell their unused power to any other members of the microgrid for a profit.
The SolarCoin concept is similar to the Brooklyn Microgrid concept in that solar power is produced and resold. However, the SolarCoin project takes a more individualized approach to the concept. Users sell their unused electricity created by their private solar panels via the blockchain.
In this strategy, a homeowner purchases a solar panel system. Once the system is integrated into the SolarCoin network, users can begin to sell the energy their home doesn’t use. The platform is free to join, and members can choose to get paid in fiat currency or Bitcoin.
The ElectiCChain platform provides real-time global monitoring of solar energy production. The system works in conjunction with the SolarCoin network. The project integrates data from over seven million global solar facilities. This data helps further scientific research into sustainable energy.
ElectriCChain posts all the gathered live solar production and usage data onto a single blockchain. This strategy provides researchers with tons of valuable information in an easy-to-access location.
A Brighter Future: A Blockchain Environment
It’s hard to say if Bitcoin’s inventor, Satoshi Nakamoto, imagined how blockchain technology would change the way we power our lives. As developers continue to explore the benefits of blockchain technology, the world around us is in desperate need of solutions. It now appears blockchain technology holds the keys to a better future for all.
This week in cryptocurrency: Ohio accepts crypto, Overstock bets the house, and the UAE starts planning. Read...
India, already home to 1.37 billion people (nearly 4x that of the United States), is one of…
Can a world exist with ownerless businesses? Watch out how blockchain technology is setting the foundation for...
India, already home to 1.37 billion people (nearly 4x that of the United States), is one of the fastest-growing countries. India’s population demographic is much younger than that of China and the United States, and its middle class is anticipated to be the largest in the world (in terms of quantity of people) by 2025. …
ABOUT THE AUTHOR
ABOUT THE AUTHOR
David Hamilton aka DavidtheWriter has published thousands of cryptocurrency related articles. Currently, he resides in the epicenter of the cryptomarket – Puerto Rico. David is a strong advocate for blockchain technologies and financial sovereignty.