A BLOCKCHAIN ENVIRONMENT FUTURE;
The concept of a blockchain environment continues to ignite the wilder imagination of developers across the globe. As you will soon understand, the immutable and transparent nature of blockchain makes it an ideal technology for a number of environmental saving tasks. Today, developers are engrossed on implementing blockchain technology into a variety of substantial and sustainable projects.
Saving the planet is not really an easy task to do. Fortunately, technology now exists to change antiquated and wasteful practices. The earth is in urgent need of support. From a report published by the United Nations Environmental Program recently, the earth’s temperatures have continued to increase at a somewhat alarming rate. While this may be pleasantly warm news for those currently in the middle of a cold winter season, the rising sea levels are causing a devastating effect on coastal cities and islands. A study published by the University of Yale showed that the oceans have increased at unprecedented levels since the seventies. The same report detailed that the rate at which the ocean levels rises has doubled from about 0.06 inches per year to 0.14 inches per year in 1993. This information is a real cause for global concern and not just for the environmental sector.
BUILDING BLOCK(CHAINS) FOR A BETTER PLANET
In recognizing the urgent need for transformation, the World Economic Forum published Building Block(chains) for a Better Planet. This paper lays out 65 existing and emerging blockchain environment projects that have the tendency to counter the current state of deterioration the planet is undergoing. The study lays out six global challenge areas;
- Climate change
- Biodiversity and conservation
- Healthy Oceans
- Water security
- Clean air
- Weather and disaster resilience.
As the world aims at battling the environmental challenges listed above, a number of multi-national blockchain climate organizations have been formed. These groups take a more anticipatory approach in tackling the issues facing our environment. One of the most popularly renowned blockchain environmental groups in operation today is the Blockchain for Climate Foundation.
BLOCKCHAIN FOR CLIMATE FOUNDATION
The Blockchain for Climate Foundation proposes to bring the Paris Agreement on the blockchain. The Paris Agreement is an international strategy for the reduction of dangerous greenhouse gases with backing from 195 signature countries.
There are quite a number of reasons why a blockchain based strategy makes a lot of sense. But Firstly, moving the Paris Agreement onto a blockchain enables countries to properly check global emissions in an open and transparent manner; at the moment, the group hosts tours promoting the benefits of such a merger.
BLOCKCHAIN ENVIRONMENT PROJECTS ALREADY IN MOTION
Fortunately, the blockchain community is all about innovation and sustainability. In short, several governments and privately-run blockchain environment programs currently exist. These programs combine the ingenuity of crypto developers with the hopes of environmentalists. Here are a couple of the most remarkable examples;
SOLAR PLASTIC BANKS
The Solar Plastic platform focuses on incentivizing the recycling process. Plastic waste is a very big global and environmental concern. A Huffington Post story recently titled “Our Oceans are Drowning in Plastic” highlights some of the numerous problems these developers seek to eliminate. The idea behind Plastic Bank is lucid. Participants are been paid in cryptocurrency for recycling their plastics. The platform pays people slightly above the market rate for proper recycling of their plastic waste. This strategy empowers recycling efforts globally and keeps our oceans safe and clean.
The Electron platform combination of the security of blockchain technology and the hi-tech features seen in digital electricity meters. This project brings about the movement towards smart grid systems that seek the most efficient and low-cost energy distributions strategy. This UK based energy distribution platform has the ability to scale to 53 million meters and over 60 different electrical providers. The team behind the project aims to reduce the centralization (i.e decentralize) currently in place within the country’s power sector. The platform enables a decentralized approach to the problems of power generation.
The Brooklyn Microgrid project combination of innovative technologies to create a common energy network. The platform is very unique in such a way that the energy company is still in charge of the responsibility for maintaining the infrastructure. Any unused energy gets exchanged between participants.
The project currently has a building in Brooklyn, NY equipped with solar panels. The energy produced by these panels is been distributed to all of the participants in the microgrid. And, each participant receives a reasonable amount of electricity. Members can sell their unused power to any other members of their choice in the microgrid for a profit.
The SolarCoin concept is somewhat similar to the Brooklyn Microgrid in that solar power is been produced and then resold. But, the SolarCoin project takes a more individualized set up to the concept. Users sell their unused electricity created by their private solar panels through the blockchain.
In this setup, a homeowner buys a solar panel system. Once the system is fixed into the SolarCoin network, users can start selling the unused energy in their homes. The platform is free to join, and members can choose to be paid in Bitcoin or fiat currency.
The Electric Chain platform creates real-time global monitoring of solar energy production. The system works in line with the SolarCoin network. The project integrates data from over seven million global solar facilities. This data aids for more scientific research into sustainable energy. Electric Chain posts all the live solar production gathered and usage data into a single blockchain. This strategy creates tons of vital information to researchers in many easy to access location.
Blockchain technology has brought about a good change in the way we power our lives and as developers continue to explore the benefits of blockchain technology because the world around us is in dire need of solutions. It is now very lucid that blockchain technology holds the key to a better and secured future for all.