There’s no denying the fact that the current rate of urbanization, industrialization being witnessed all over the globe is fast depleting the planet’s natural resources. And, while this has helped bring about a lot of socio-economic growth, it has also brought to the forefront the need for quality sustainability initiatives. That said, with technology having evolved greatly in recent decades, there are many tools at our disposal that can address today’s pressing concerns quite easily.
Blockchain is one such major breakthrough. The technology utilizes a distributed public ledger database capable of maintaining a full record of any transaction taking place within a network. What makes the technology different from anything else in the market today is that it achieves all this in a manner that is transparent and highly decentralized. In fact, the use of blockchain has gained so much traction recently that the total size of this yet nascent market is expected to reach a cumulative valuation of USD 137.59 billion by 2030, growing at a compound annual growth rate of 67.54%.
Also, while the use of blockchain is most commonly associated with digital currencies — crypto mining, in particular — its overarching potential allows it to be used across a whole host of domains including land title registry, health record maintenance, transparency-based charity, transportation, and supply chain management.
Blockchain can help bolster sustainability practices
Straight off the bat, it is worth remembering that the secure and distributed nature of blockchain’s distributed ledger allows for the facilitation of investments capable of generating economic returns that can support a wide variety of social, environmental efforts. For example, the use of blockchain can be used in relation to improving carbon emission trading, clean energy trading, climate finance flows, tracking and reporting of greenhouse gas emissions, amongst other things.
Not only that, the revenue generated from various blockchain/crypto projects can be used towards various charitable causes. Philcoin is one such platform offering users the ability to not only generate passive income streams for themselves but also allowing them to donate their accrued funds to various charitable organizations, NGOs with the touch of a button.
To elaborate, in addition to providing its users with seamless exposure to the rapidly evolving digital asset market, anyone with the ecosystem’s native cryptocurrency — ala Philcoin — can stake the tokens in lieu of automated revenue as well as the power to support various social causes.
To this point, a chunk of all generated rewards are distributed amongst their rightful stakers while the remaining sum is donated to the charitable trust/orgnization of the investor’s liking. In essence, the aim of the Philcoin project is to help create an interactive ecosystem where technologies such as IOT (Internet Of Things), social media, etc can enable users to learn about a range of problems affecting people across the globe (as well as provide users with systematic steps in which to mitigate these issues).
The future looks ‘sustainable’
Apart from giving back to those in need, blockchain’s growing mainstream acceptance has also helped draw attention to the concept of ‘Green Finance’ wherein the technology can be used to merge the ideas pervading environmental/social protection and economic profits. Not only that, there are also a host of other areas where blockchain is starting to make a major impact such as sustainable infrastructure development, asset exchange/trade, human resource management, etc. Therefore, as we continue to move into a future driven by decentralized technologies, it will be interesting to see how the future of this space continues to play out.