A report by the World Economic Forum claims that blockchain can help solve the "most urgent" environmental problems on the planet. The report, called Building Block (chain) s for a better planet, was published as part of a series of "Fourth Industrial Revolution for the Earth" by the World Economic Forum (WEF) which examines how "the convergence of digital, physical and biological kingdoms "can be exploited to help better manage the" shared global environment "of humanity.
This series of in-depth documents brought together environmental and technical experts to examine emerging technologies, which include the Internet of Things (IoT), virtual reality and artificial intelligence (AI), can lead to earthquakes of "changes "The Building Blocks report, published last week, claims that blockchain is one of these" game transformers "that has the potential to tackle climate change, biodiversity loss and water scarcity.
"As a result of the" great acceleration "of human economic activity since the mid-20th century," the report says, " which has produced noticeable improvements in human well-being, the research of many Earth system scientists suggests that life on earth could now enter a period of unprecedented changes in environmental systems. "
According to the WEF, this presents clear challenges but it also offers a revolutionary opportunity to exploit the blockchain – and other innovations of the fourth industrial revolution – to address six of today's most pressing environmental challenges requiring transformational action: climate change, natural disasters, biodiversity loss , ocean health deterioration, air pollution and water scarcity.
The report spoke with industry, big tech, businessmen, academics and governments to identify more than "65 cases of existing and emerging blockchain use of the environment" and found the technology to be particularly relevant where transitions enable "cleaner and more efficient decentralized systems, resource negotiation or peer-to-peer permits, supply chain transparency and management, new financing models for environmental performance, and the realization of non-financial value and natural capital."  "Many of these opportunities extend far beyond" tech for good "considerations and are linked to global economic, industrial, and human systems," the WEF writes. "Blockchain offers a strong potential to unlock and monetize the value that is currently embedded (but not realized) in environmental systems, and there is a clear gap in the market."
However, changes in transformation "do not happen automatically", says the report, but require "a deliberate collaboration between different stakeholders, from technology industries to environmental policy makers, supported by new platforms that can support these stakeholders to make to progress not only a technological application, but the change of the systems that will allow us to really take off … if we have understood correctly ", concludes the WEF," it could create a revolution for sustainability. "
The World Economic The non-profit forum, based in Switzerland, says its mission is to "improve the state of the world" by involving "key political, entrepreneurial and other leaders of society to shape global, regional and industrial programs" , produced the Building Blocks rt repository in collaboration with the global accounting firm PwC and the American Stanford Woods Institute for the Environment.
The WEF is known for its annual meeting in January at the mountain resort of Davos, in the Eastern Alps region of Switzerland, which brings together more than 2,000 businessmen and political leaders, economists and celebrities to discuss of global issues.