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Blockchain as an important tool for promoting sustainability

April 24, 2020

According to a in the Society for Environmental Sustainability by Dr. Naveen Kumar Arora published study Many of the planet’s resources are affected by the increase in human population and consumption rates.

The study concludes that modern urbanization, industry, and agricultural practices pollute the environment while exhausting natural resources at an alarming rate that has never been seen before.

In general, our activities have a negative impact on the earth and a few days after the international day of commemoration for our natural home. The challenges for the sustainability of the current human rhythm are more pressing than ever.

Blockchain as an important tool for promoting sustainabilityBlockchain as an important tool for promoting sustainability

With a pandemic that forced large sections of the population to stay at home and many industries to close their doors, it was shown that the planet needed a breathing space similar to that needed under these special circumstances.

According to experts, climate change, which is undoubtedly the most influential threat to our ecosystem, predicts a temperature rise of slightly more than 2 ° C by 2050, which is sufficient to melt the glaciers even faster and raise the sea level, causing dangerous cities to disappear.

Given this complex panorama, initiatives that show what people can do with technology to ensure sustainable activities over time are more pressing than ever. And that’s exactly where it is Blockchain technology can play a fundamental role, as has been shown in other areas of daily life.

Blockchain technology, through its concept, offers an information recording system in a way that makes it very difficult or almost impossible to change or hack it. The reason for this is the distributed and decentralized capacity of the blockchain, so the information is based on the hundreds or even thousands of nodes that support the network at its core.

Blockchain is playing an increasingly important role in sustainability by helping to promote collaboration between consumers and manufacturers. by helping people adopt a more sustainable lifestyle and helping companies improve their procurement and recycling practices.

Cases such as tracking shipments via the blockchain or a production process in a company such as a café in Colombia, e.g. This not only saves money costs, but also bureaucratic procedures that are reflected in material and energy resources that have a direct impact on the environment.

The traceability with transparency that characterizes blockchain technology thus enables companies to have a verifiable process of who buys what from whom. In this way The company and the entire production chain reduce the significant impact for example in the ozone layer.

Blockchain and a circular economy

A key concept for sustainability is undoubtedly the concept of the circular economy and its three R’s: reducing materials and waste, reusing products and recycling materials. This paradigm ensures that products and services are exchanged in cycles or closed cycles, which means that nothing is wasted so that we can better conserve the earth’s natural resources.

And in this area Blockchain technology has a lot to offer and local cases in the Latin America region already exist successfully. With the blockchain, it is possible to transparently ensure the traceability of the quick and cheap origin of the items.

Fight against the authenticity of many consumer goods such as groceries by simply scanning a QR code with a smartphone or reader, Without a doubt, it reduces economic losses on the one hand, and above all the negative tensions for our natural resources due to overuse for rental purposes.

In addition, thanks to blockchain technology, consumers can easily select sustainable products and make informed decisions in a responsible manner, which contributes to healthy economic and productive practices.

For example, we can observe cases such as the Beehive project in Misiones, Argentina, in which the social responsibility of both companies and their consumers achieves the economic incentive with cryptocurrencies that are issued on the blockchain to ensure sustainability and security ensure the economy of the waste recycling and reuse project.

In this case, the data in the blockchain is guaranteed in a transparent manner and it is expected that its traceability of the process will be registered in the FLETA blockchain Maintain the circular economy of the proposal using blockchain technology.

But the use of blockchain doesn’t just stop there. The current pandemic that the planet suffers from the corona virus has shown this The blockchain makes it possible to rationalize the supply chain through immutable databases and time-based for each phase: production, harvest, transport, arrival and even disposal.

The success stories of Amazon and IBM as well as retailers like Walmart are successful examples of the use of blockchain technology in the supply chain in every phase to streamline processes, reduce costs and increase sustainable innovations.

This naturally leads to a considerable simplification of the production processes with cost reduction and above all to a better use of natural resources and waste reductions, which may have a negative impact on the environment.

Of course with A technology that is still in the first phase of its introductionIt may take some time before the results can quantify the global benefits of their application to the planet.

Currently, more and more companies are using blockchain technology in their production and financial processes, which range from the field to the factory through the traceability of raw materials and means of transport. The sustainability challenges are huge, and blockchain is just another arm in human complexity. to achieve their survival in the face of the historical disturbances that we are used to subjugating our natural home.

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