10 Oct '17, 9am

Is blockchain the singularity point for the environment?

Is blockchain the singularity point for the environment?

Yet even if every country satisfied its Paris commitments to reduce carbon emissions, this still would not be sufficient to create a safe climate. Individuals and businesses will need to do more to plug this gap, and we urgently need to find a way to help them do this, while working on longer-term shifts in parallel. Chain reaction This is where blockchain technology comes in. Put simply, blockchain is the name for a digital ledger in which transactions (often made with "tokens" or a cryptocurrency such as Bitcoin) are recorded chronologically and publicly. Applying this to carbon credits to create a "carbon currency" is the key to demystifying and consolidating the carbon market so it can scale up. Carbon credits are the perfect candidate for a digital currency as they are data-driven, rely on multiple approval steps and exist separately to the physical impacts to which t...

Full article: https://www.greenbiz.com/article/blockchain-singularity-p...

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