There has never been more urgent to think about sustainability than nowadays when we face an energy crisis, climate change, and loss of biodiversity. But can new technologies that work on blockchain help our efforts to reduce carbon footprints and support sustainability?
What Is Blockchain, and How Can Features of Blockchain Support Sustainability Efforts?
Let’s start by explaining what blockchain is. A blockchain is a secure decentralized ledger where data is recorded and stored in a way it can be changed or deleted. The data is stored in blocks that make chains, where each block contains the information of the previous one. It is a technology that allows participants to share data and transactions without worrying about any third party interfering. Here are the best features of blockchain:
- It is a distributed database – Blockchain uses cryptography to record each transaction on the chain. You can use blockchain to track goods from their source to the end user with transparency and accuracy.
- It is transparent – Blockchain creates a system that is trustworthy and accountable. Each transaction is transparent, so everyone can see what is done. This feature can be used for tracking and managing environmental projects with ease.
- Secure and efficient – Blockchain is a secure and efficient technology that can reduce carbon footprints by making the transactions between parties less complicated. It is also secure and transparent, meaning no one can tamper with the data stored on the blockchain.
- It is immutable and tamper-proof – Blockchain is immutable, meaning it provides easy and fast transactions across the chain that are traceable and secure. This can help companies in reducing the environmental impact or combat fraud.
Invest in Blockchain Projects That Directly Support Sustainability
As you can see, blockchain can be used by companies to implement faster, transparent procedures that will help them monitor their businesses’ sustainability. But there are some blockchain projects that directly support sustainable companies globally.
As an end user or investor, you can participate in this project and help your company become more sustainable. One of the most popular new projects of this kind is Impt.io (IMPT), a large ecosystem that is based on blockchain and supports individuals and businesses who want to reduce their carbon footprint.
Impt.io (IMPT) is a new project that aims to give support to individuals and companies who would like to reduce their carbon footprint. On the platform, individuals, businesses, and communities will get a chance to reduce their impact on the environment in the most efficient and safest method possible.
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