A new report from the recently published World Economic Forum has identified more than 65 ways in which blockchain can be applied to the most serious environmental challenges in the world and the report requires new global platforms to incubate "responsible blockchain ecosystems" rather than simple applications or company.
Made in collaboration with PwC and published at the Global Climate Action Summit in California, Building Block (chain) for Better Planet also identifies eight game-changers in which technology can radically transform the way the world manages its natural resources . It ranges from decentralization of natural resource management such as energy and water, to creating more transparent supply chains that promote greater sustainability and providing new mechanisms to increase the trillions of dollars needed to achieve growth sustainable and low-carbon economy. 19659002] "The potential of Blockchain to radically redefine the way business, government and society operate has generated considerable clamor," said Sheila Warren, Head of Blockchain and Distribute Ledger Technology at the World Economic Forum Center for the Fourth Industrial Revolution. "Despite this hype, there are many challenges to overcome – it is still a nascent technology undergoing rapid development, and now it is the right time for stakeholders to work together to ensure the development of blockchain solutions responsible for people and the planet. "
Celine Herweijer, Partner, PwC UK, added:" It's important for anyone thinking of developing or investing in a blockchain for the environment to take a step back and ask three essential questions: the blockchain will solve the problem. real, downside risks or unintended consequences will be managed in an acceptable way and will the right stakeholder ecosystem be built? " Blockchain enabled solutions are currently being studied to improve the sustainability of global supply chains and could help to overcome illegal activities by tracking the fish from "bait to slab" or products such as palm oil, beef and soy from "farm" at the table". This transparency is crucial for influencing consumer decisions, updating supply chain practices and triggering new governance arrangements. Blockchain-enabled smart contracts could, for example, be used to support innovative ownership agreements that confer specific rights to communities or fishermen
According to the report, these and other opportunities have been largely unused by developers, investors and governments, and represent an opportunity to unlock and monetize the value that is currently embedded in environmental systems.
If exploited in the right way, blockchain has significant potential to enable the transition to cleaner, resource-rich decentralized solutions, unlock natural capital and empower communities. This is particularly important for the environment, where the tragedy of common goods and the challenges of non-financial value prevail.
"If history has taught us anything, it's that these transformational changes will not happen automatically," said Dominic Waughray, head of the World Economic Forum & # 39; s Center for Global Public Goods. "It will require deliberate collaboration between different stakeholders, from technology industries to environmental policymakers, and will need to be supported by new platforms that support these stakeholders to advance not only a technological application, but the change of systems that will allow it
Building Block (chain) s for a better planet is part of a series of reports of the fourth project of industrial revolution for the Earth, carried out in collaboration with the World Economic Forum Center for the fourth industrial revolution.  Read the full report here
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