The perception and understanding of the blockchain as a conceptual technology with disruptive capabilities are increasing over the past couple of years. It has been suggested that even the most formidable challenges facing mankind will find resolution. So we can say that the traditional methods are no longer applicable in the world as we know it today, because technology exists. Without being an exception, the need for environmental conservation has been addressed, in every aspect, available.
The legion benefits of blockchain especially the fact that there is no room for tampering and changing records makes it appropriate for encouraging green practices. It facilitates tracking of non-renewable resources at each and every second so as to avoid the waste of resources in environmental resource programs. This respect the technology that can be adopted by say the governments of countries or organizations or individuals to put a stop to illegal logging, mining or overfishing.
What is more, other features of the system allow the issue of environmental tokens and smart contracts, thus rewarding participants for being pro-ecological. In these means, the members of the society can also take part in the preserving actions and the destructive elements can be punished. In the contemporary world where people are searching for alternative means of dealing with the problems of climate change and depletion of resources, relative block chain technology is probably the best way to do so.
The ecology wise management of environmental programs is bound to corruption and inefficiency due to the centralized nature of management. But with blockchain technology, every transaction or data entry is recorded in real time and cannot be deleted, therefore, every action can be easily verified by the relevant persons.
For example, the blockchain can be utilized in tracing funds intended for the reforestation of areas affected by natural calamities. NGOs and other government agencies are availed with the opportunity of sharing the progress of their projects online with the aid of the internet. Leaving this kind of evidence helps to enhance the trust of the donors and participants for the projects.So the problem of trust is also handled thus increasing the effectiveness of programs implemented.
In addition, the blockchain has a potential application in assessing the impact of renewable energy projects. By monitoring the level of consumption and generation of energy, the stakeholders are also able to validate claims of renewable energy. This level of transparency actually makes it hard to be green without being sustainable.
Carbon credit trading is a powerful tool in controlling the emissions of harmful gasses. Nevertheless, such traditional methods are almost always useless and obscure. This is where the application of Blockchain technology is relevant as it helps in ensuring that all transactions that involve the exchange of carbon credits are honest.
The tokenization of carbon credits allows for their easier exchange and tracking. Every single token is a unit of emission reduction that is voltaged onto the blockchain. This system minimizes impersonation and fraud by ensuring proper allocation and use of credits.
Moreover, blockchain-based digital solutions allow buyers and sellers to interact without using brokers that cause extra costs. Such an approach enhances the carbon credit market attracting all stakeholders to fill in all the gaps in deployment of emission reducing initiatives in every part of the world.
It is possible to create environmental tokens using the blockchain technology that are aimed at rewarding the environmentally supportive actions. Organizations and individuals can be integrated within the eco-system by incentivising such practices making it more sustainable.
To illustrate, tokens can be awarded for participating in initiatives such as recycling or energy saving or the use of public transport. These tokens are later on used to exchange or even purchase goods and services, therefore rewarding the users for positive behavior towards the environment.
Besides, the use of these engines among the participants can be enhanced through the application of gamification. With this, the users of the games and/or the apps, engage in organized competition and/or cooperation (or both) for incentive(s), thereby enhancing conservation in a wider geographic region.
Ecosystems are at risk and are often endangered by practices like illegal logging, overfishing, mining activities and so on. Yet, through the interconnected world created by blockchain technology the effects of these activities may be minimized as a result of improved supply chain management and monitoring. It is possible to timestamp and store each element of premeditated chain in the corresponding blockchain. As a result, there will be a reliable history of the origins and movements of all goods within the given chain.
For instance, the use of blockchain technology prevents the use of timber from non-certified places. Cases of wood smuggling will reduce due to effective measures such as the use of tracking systems. The same system could be used in the fishing industry to help prevent policies of catch and sale of fish with no regards of full or sustainable development management.
In addition, they say that blockchain can also assist in empowering people by registering and safeguarding land tenure. This ashore prevents external abuse and even ensures that resources do not get taken advantage of by indigenous people instead providing ways for resource conservation activities.
Various uses can be anticipated for blockchain technology, especially for the enhancement of the effectiveness of the environmental policies. This gives both people and organizations the possibilities of addressing the environmental problems from several views such as enhancing operational transparency, enhancing the carbon credit system, increasing efficiency, and prevention of resource over-exploitation.Rather, pertaining to the aspect which concerns the menaces of global warming, exhaustion of natural resources and other environmental crises which are ever on the rise, the issue of the aforementioned blockchain technology in their resolution is of utmost significance to the survival of the planet. There are also prospects of improving this technology along with other existing ones meant for protecting the environment.