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US $ 125 billion corporate giants use blockchain technology to fight global warming

June 16, 2020

On June 15, Unilever launched a $ 1 billion climate change initiative in which blockchain technology will play an important role.

Traceability and transparency

Unilever is establishing a 1,000 million euro fund that will be used to protect the environment over the next ten years:

“In order to speed up the measures, Unilever brands will jointly invest 1 billion euros in a new climate and nature fund. This will be used over the next ten years to take sensible and decisive measures. The projects will probably include the restoration of the Landscape, reforestation, carbon sequestration, animal welfare and water conservation. “

The company hopes to achieve a “deforestation-free supply chain” by 2023:

“To achieve this, we will improve traceability and transparency through new digital technologies such as satellite surveillance, geolocation tracking and blockchain by accelerating smallholder involvement and shifting our focus to sourcing derivatives.”

Carbon ice

US $ 125 billion corporate giants use blockchain technology to fight global warmingUS $ 125 billion corporate giants use blockchain technology to fight global warming

Unilever is not new to the blockchain world. In 2019, the company started using ad matching technology. You are also currently performing a test in your accounts payable process.

His subsidiary, Ben Jerry’s operates a blockchain-based platform that its customers can use to help balance their carbon footprint.

Transparency and traceability are some of the best-known benefits of blockchain technology, but only time will tell if it will help Unilever achieve its ambitious goal.