United Nations Wants Blockchain to Battle Climate Change

In the recent measures taken by the United Nations, the alternative applications of the Blockchain technology is being investigated.

Even though, the level of global concern with regard to the energy consumption and electricity needed for the mining of cryptocurrencies is increasing day by day, the UN is looking into using Blockchain technology to battle climate change.

It believes that Blockchain technology has great potential to fight the consequences of the global warming.

Recently, an article was published on the official website of UN stating that this organization is actively looking into implementing this technology in order to get the global climate change under control.

They believe this technology can be used to create a better and sustainable economy, one that does not rely on greenhouse gases and one that is not so detrimental to the nature.

Among the features of Blockchain that can be used to carry out this measure is its ability to bring transparency and efficiency to processes. As such, an economy based and built around this new technology will be much more efficient in every aspect. Including, of course, environmental aspects.

The UN has also entered into a partnership with the Technical University of Denmark. What they have discovered is that the existing data on the amount of greenhouse and harmful gases and emissions by factories in various countries is not reliable.

The data is also scattered and as such they are not very reliable. But with the help of the Blockchain technology, a new way of managing such data can be achieved. One that is much more dependable and efficient.

More importantly, a new way of gathering and keeping data that is not only anonymous, but also tamper proof; therefore entities with different interests would not be able to interfere with such important information and data.

So it seems that the United Nations believes in the promise of Blockchain. But, at the same time, they do recognize the fact that a lot of its promise is potential that needs to be realized:

“If the most vulnerable are to benefit from the promise of Blockchain technology, and if it is to truly make a positive impact on the climate crisis, more technical research is needed, as well as more international dialogue, involving experts, scientists and policymakers.”

Even recently, at the G7 summit, the top industrial countries of the world decided to implement green initiatives with regard to Fintech and decentralized finances.

As was mentioned above, the UN is actively working toward increasing its knowledge of the Blockchain technology. They hope that someday soon they will be able to implement this technology to fight against global climate change.