How Blockchain Technology Can Make Ecology Profitable
Blockchain is a modern technology aiming to solve current problems, including significant environmental issues like pollution. Industries concerned with energy, mining, forestry, and even fisheries can significantly benefit from blockchain technology.
Many human activities result in carbon pollution, which in return brings about global warming, and this destroys the earth’s ecosystem. Therefore, there is a need for blockchain technology to integrate with platforms dealing with the environment; that way, all can achieve environmental sustainability.
In this article, we aim to shed more light on how blockchain can make ecology profitable. Also, we will hint on various eco-friendly blockchain startups that can transform the environment to be better.
Ways Blockchain Can Benefit Ecology
Below are ways in which blockchain technology can be of importance to the environment:
Limiting Environmental Damage
There is a lot of environmental degradation by parties targeting to make large profits without caring for the environment. Blockchain’s distributed ledgers will help reduce environmental damage; they are public, availing information on every activity related to the environment to concerned parties on them. Distributed ledger technology will, therefore, reduce corruption and destruction of the ecology within governments and the industries that deal with ecological activities.
Seamless Resource Management
When it comes to resource management using conventional methods, there is a lot of asymmetric information among decision-makers. One stakeholder might have a better understanding of how to manage resources compared to another stakeholder. Thus, blockchain technology is critical in resource management, as decentralization gives accurate and well-organized information on managing resources.
Regeneration of Resources Through Circular Economy
Blockchain technology makes it possible to realize the enormous potential of circular economies. Even after drawing out the utmost value of natural resources, circular economies recover and generate them. Hence, it is manageable to get financial value by regenerating waste materials through blockchain technology. This way, there is a full leveraging of scarce natural resources.
Mechanized Disaster Preparedness
Disaster management is a sensitive activity. However, blockchain technology makes disaster management an easy task through mechanization. When blockchain technology gets incorporated with disaster management, the latter becomes effective and efficient because of automated processes. Blockchain is essential in individual relief processes since it makes the activity fast.
Blockchain Integrated Geospatial Platforms
Geospatial platforms are earth management platforms. When geospatial platforms get integrated with blockchain technology, it is possible to protect the environment. These geospatial platforms supervise and manage various human activities to ensure the conservation of the environment. Blockchain-based geospatial platforms are in the process of establishment. Upon their successful development, they will play an essential role in making the earth a better place.
Environmental Projects with Sustainable Finance
Blockchain-based finance platforms have significant impacts when integrated with projects addressing environmental affairs. They create the right platforms for investors concerned with the environment’s wellbeing. The money raised in these blockchain-based projects gets incorporated into ecological conservation. They also push for activities with low carbon emissions enhancing environmental sustainability, with sustainable finance platforms.
Blockchain Startups that Benefit Ecology
Some blockchain-based startups dedicate themselves to eco-friendly campaigns globally. A few notable ones are:
Social plastic is a blockchain-based platform, also known as a plastic bank. The objective of Social plastic is to stop ocean plastic. Ocean plastic pollutes the water creating a harmful environment for oceanic life. Therefore, social plastic is coming up with collection centers, mostly in third-world countries, for plastic waste.
People active in the plastic waste collection get rewards in blockchain secured virtual tokens or other items. The social plastic platform also targets the improvement of individuals’ living standards in poverty-ridden areas while conserving the environment. The platform then recycles the plastic to generate more valuable products, reducing environmental pollution.
BitHope is a blockchain non-governmental organization based in Bulgaria. This platform exchanges your bitcoins into items that benefit people, and the environment in general. BitHope is a vital platform because it supports programs that enforce environment conservation. It further aids in the collection of donations that help them realize their objectives.
Electron is a blockchain integrated startup based in the UK. Its objective is to help households limit their energy consumption by incorporation of blockchain technology. Electron uses the information available on energy usage to simulate smart meters which regulate energy consumption. Electron, through blockchain technology, helps utilize energy resources sparingly and therefore helps conserve the environment.
Poseidon is a blockchain-based foundation whose objective is to transform the world into a green economy. It promotes the reduction in emission of greenhouse gases and others that pollute the environment. Poseidon funds projects and communities that promote the reduction of harmful gas emissions and those who care for fragile ecosystems. Poseidon supports these projects by purchasing their carbon credits.
Solar coin is a cryptocurrency launched in 2014. One can obtain the crypto through solar energy production. The Solar coin company has a mechanized token system that rewards people with solar coin after this activity. The platform is free, encouraging people using solar panels to join it. Solar coin gears towards clean energy solutions, such as solar energy, to conserve earth’s ecosystem.
Blockchain can increase the sustainability of the environment by solving ecological issues. Making use of blockchain technology ensures mechanization of the environmental platforms for added accuracy and efficiency. The same function renders activities of natural resource management easier for sustainable utilization of these resources.
Eco-friendly startups that are blockchain-integrated do not face issues with privacy and security breaches. Furthermore, the foundations achieve transparency through immutable ledgers presented by blockchain technology. The advancements in blockchain technology for environmental conservation takes the world a step further in expanding blockchain uses. Likewise, it boosts the search for more sustainable methods to achieve the ultimate endgame of saving the earth’s ecosystem.