'The possibilities afforded by sustainable blockchains are massive, and the upsides for the environment are too important to ignore,' writes Stefan Renton, sustainability lead at Polygon. Crypto2023, presented by Bitstamp.
and supporting initiatives driven by the Web3 community.Blockchain's role in helping the environment can go far beyond energy footprints and carbon credits as well. We expect to see an increasing number of sustainability-focused systems launching in 2023, where things like water usage or plastic creation could similarly be tracked and reported.
Another important possibility of blockchain and its applications such as DeFi is its ability to provide tools to empower communities most affected by climate change and business generated consumption, such as those in the global south. In other applications such as supply chain, it can bring more transparency and provability to equitable distribution of revenue and improved treatment; the next generation of fair trade.
Clearly, this technology is nascent, and nobody is saying that blockchain on its own is a panacea for dealing with climate change. Nonetheless, more industries must consider what this technology can offer. Perhaps the most important initial component is accountability for companies claiming to be engaging in sustainable practices. That said, there is so much more that is possible.
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