Focusing the climate discussion on Blockchain misses the point

consumption raised Bitcoin Energy and its dependence on climate-damaging fossil fuels, debates from within and outside society Blockchain.

And with the outbreak of mania Irreplaceable icons NFTs At the beginning of the year, many climate-conscious artists expressed their disapproval of the high rates of consumption Ethereum .

And in turn he did Elon Musk In May to take out a coin Bitcoin Off course, citing the energy it requires, as a reason to pull Tesla Tesla Its plans to accept payment Bitcoin for its electric cars.

Both of these events sparked a flurry of debate, both within and outside the community Blockchain . In particular, the arguments tend to focus on two areas:

The first is consumption Bitcoin energy and its reliance on climate-damaging fossil fuels, as opposed to renewable energy.

Second, platform benefits Blockchain Compared to others, this trend generally focuses on consensus models and the promotion of proof of interest, as a greener option.

The debate is full of arguments in favor of both sides, and if the UN Panel on Climate Change is right, then we cannot overestimate the need for drastic action, to help repair some of the damage.

To do this, the focus must be on the positive applications of Blockchain.

Leverage the strengths of the blockchain

One important way to make an effect Blockchain Really big, is its ability to mobilize large amounts of waste energy, which is then collected and re-ignited for greater utility.

The sourcing of wasted energy by crowds is consistent with the principles of a circular economy, which eliminates the culture of waste, to redistribute available resources as much as possible. Computational power is one such example.

Whether it's on a personal laptop or an out-of-hours commercial server, there's a huge amount of idle computing power all over devices, especially when they're not in use.

At the same time, there is a huge demand for computing power that is met by companies like Amazon Web Services, which are constantly building new data centers to meet this need, and networks Blockchain, such as a decentralized cloud computing platform Kudos / Cudos.

One example is redirecting spare computing power from idle computers, putting it to better use, and reducing waste in the process.

There are other networks such as (Filecoin) And Bluesy (Bluzelle) focused on storage services, but the principle remains the same.

Decentralization of the power grid

There are other projects that use this concept of decentralization of energy networks, namely the network Brooklyn Microgrid, which is a very local initiative that allows "Producers and Consumers" of solar energy, by selling their surplus by directing it to a microgrid, where other participants can buy it.

It's a kind of project Act local, think global That proves that anything is possible, if you're willing to start from scratch.

In Vienna, the government had earlier funded an initiative that allows citizens to earn rewards based on electronic tokens for identifying sources of thermal waste that can be recycled into the energy grid.

There is little variation on the issue of decentralization, but it uses the same principles based on leveraging technology Blockchain for the public good.

Trusted green credentials

Blockchain technology also plays a key role in achieving transparency and accountability for governments and companies for their role in combating climate change.

Transparency in ESG matters is currently high on the agenda of CFOs, following the introduction of the European Union's Regulation on Sustainable Financial Disclosure earlier this year.

In its broadest sense, this regulation obliges banks and financial institutions to rank their investment products according to their green qualifications.

The use of Blockchain Storing and verifying this information increases visibility, and significantly increases the level of trust that investors can place in products that carry ESG credentials.

It is quickly becoming easier to imagine a future where consumers and businesses can make choices based on ranking algorithms ESG For what kind of organization on Blockchain.

And because this platform the least bad“ It won't be enough, and the community is far from powerless when it comes to the climate emergency, it has powerful technology, along with some of the world's best, brightest and most innovative thought leaders.

It is clear that this technology can be applied to a myriad of positive use cases, and in doing so, it makes a stronger case for what its applications can achieve in the field of environmental protection.