Web3 for sustainability. How can Blockchain and Web3 help with climate efforts and speed up improvements? Here are some interesting points…
First off, two important notes:
- Although this comes from the World Economic Forum, it’s essential to consider the ideas and examples they provide.
- We’re not focusing on the energy use of Bitcoin here. Do your own research (DYOR), and let’s think about the future with abundant energy.
The Role of Technology in Climate Action
Think of Environmental, Social, and Governance (ESG), Climate Action, Sustainability, or whatever you call it. The goal here is to explore how technology can make life better for people, nature, and the planet.
Despite the negative actions of people and industries and our overconsumption, how can we not only stop the damage but also improve and positively change our impact on the Earth? For more insights, follow Sheri R. Hinish and Supply Chain Revolution®. She explains it much better.
Five Key Contributions of Blockchain and Web3
Now, leaving any biases behind, let’s look at 5 key ways Blockchain and Web3 can contribute, as outlined in this report:
- Using Web3 incentives to support existing climate actions.
- Striving for more ambitious goals to achieve net-zero emissions.
- Emerging Digital MRV (Measurement, Reporting, Verification) solutions as a market unifier.
- Recognizing the importance of data ownership and how systems work together.
- The importance of a cooperative spirit and community involvement. It’s not all about turning everything into tokens.
Web3’s shared incentives, decentralized identities, privacy, finance, cross-border systems, unstoppable applications, and community-driven governance all have roles to play, perhaps in unexpected ways.
Further Discussion and Resources
This report also discusses:
- Current issues with implementing climate and Blockchain projects.
- How digital technology supports change.
- Regenerative finance (ReFi).
- Industry trends and challenges.
- Other advice and resources for further learning. It’s a valuable resource for its examples, case studies, and concepts. And remember, always look at multiple sources for your research to get a comprehensive view.
What are your favorite Blockchain and Web3 projects in the Climate Action field?
Working across multiple aspects of Blockchain and Web3 technologies since 2016; He has helped large organizations and start-ups to harness the benefits of using decentralized technologies to create commercially viable businesses and digital transformations. He has experience in leading and scaling large ecosystem and delivery teams to bring Blockchain-enabled platforms into production.
