Blockchain can be a vital tool to boost sustainability

One technology that has an emerging role in sustainability is blockchain.

Our activities are adversely impacting Earth and according to a recent study, one of many, the planet’s resources are getting badly strained by rising human populations and consumption rates. Worse: urbanization, industrialization, and modern agricultural practices are polluting the environment and depleting precious natural resources at alarming rates.

Climate change is another factor. The Earth is projected to be around 2°C hotter by 2050 and the world’s ice sheets are already melting at much higher times than in the last century, contributing to rising sea levels. At the same time, the planet is losing much of its biodiversity, which scientists say will cause “unforeseen and unpredictable” consequences to life on Earth.

With all this in mind, global sustainability initiatives are more urgent now than ever. Fortunately, we can turn to advanced technological tools to address the most pressing concerns. One technology that has an emerging role in sustainability is blockchain.

Blockchain is best known as the underlying technology behind digital currencies like bitcoin, but it has applications well beyond that. Tech writer Daniel Ling compares blockchain to a digital ledger where nodes see, manage, and record transactions. These digital records create virtual blocks (hence, the name blockchain) that remain intact despite the failure of a node or two.

If that seems too technical, consider how PulseLocal Digital’s Vice President Paul Dughi describes blockchain using the spreadsheet analogy: Think of a spreadsheet duplicated across a network of multiple computers. Information is then entered into the individual cells of these spreadsheets.

Blockchain technology can aid in sustainable and transparent business practices. (photo: Pxhere)

Blockchain technology offers a system of recording information in a way that makes it very hard or near-impossible to alter or hack.

That’s because records…

Source Link