6 ways blockchain can help the environment
PwC’s report ‘Building block(chain)s for a better planet’ explores and analyses the opportunities to harness blockchain to address environmental challenges. Here’s a list from the report of the areas in which blockchain could make a difference to the environment.
1. Climate change. After a cold winter followed by a heatwave with record temperatures, the issue of climate change has been brought to the fore. Blockchain has the potential to be used in a variety of areas to combat this global issue including, blockchain-based decentralised delivery networks for smart transport systems. A blockchain platform can be used to capture and secure real-time road traffic information for more efficient delivery systems (eg VOLT). Waste-to-energy solutions for sustainable production and consumption are also emerging.
2. Biodiversity and conservation. Looking after the land we love and protecting habitats from further destruction is key on the agenda for many. Sustainable trade is a large focus within this and blockchain could be used for transparent monitoring of supply-chain transactions. For habitat protection, the technology could also help track the geographic reach and movement of endangered species.
3. Healthy oceans. We’ve all seen enough Blue Planet to realise we need to keep our oceans healthy. Real-time monitoring of ocean temperature and pH is an important aspect of this and blockchain can be applied here.
4. Water security. There are still some parts of the world that don’t have access to clean water, there are also water companies that sometimes fail when it comes to adequate sanitation. Hyperlocal water data for monitoring water quality could be a blockchain application as well as a decentralised, catchment-based approach to improving water.
5. Clean air. To get cleaner air, we need cleaner fuels. Blockchain encourages the uptake of autonomous vehicles through providing more accurate safety information, bringing forward the safety, efficiency and convenience benefits of autonomous driving technology.
6. Weather and disaster resilience. Combining IoT, blockchain and advanced sensor platforms together with predictive artificial intelligence analytics could monitor real-time natural hazards such as tremors and sea level changes.