Blockchain for Environmental Sciences & Engineering
Environmental science is more important than ever for making our world a more sustainable place. There are many solutions to problems faced across all parts of the environment, including energy, forestry, fisheries and water.
Problems Faced Today
Behavioural Incentives
There is a lack of incentive for many to help preserve the environment. Incentives are short term and profit oriented, rather than long term and oriented towards sustainability.
Resource Rights
There is a lack of assurance around who owns certain limited natural resources.
Origins
The origin to precious materials or resources can often be unknown, meaning the environmental impact of gathering such materials can often be unfamiliar.
Solution: Blockchain Technology
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True Resource Origins
True Resource Origins
Blockchain can provide assurance about environmental sustainability of production. As resources become more and more scarce, it’s consumers around the world demand to know where their resources are coming from. Are they sustainable? Recyclable? Ethical? Through blockchain, it’s possible to record the origination of resources such as water, wood and more through a sustainable solution.
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Long Term Incentives
Long Term Incentives
Blockchain can provide assurance for environmentally sustainable practices. This can be seen clearly in peer-to-peer trading of renewable energy particularly, or growing certain crops. Rather than being short term and predatory in nature, trading environmental resources can be profitable and beneficial for all.
Audit
Resource Rights
Resource Rights
As natural resources can be tokenized on a blockchain, it may be possible for a group or groups of people to own resources of land in a distributed way. For example, a forest, mine or tree could theoretically be tokenized by a collective crowdfunding campaign.
Advantages that Blockchain can Provide
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Origination
Origination
Blockchain provides full origination of materials and resources. This is particularly important for supply chain provenance solutions. From coffee beans to paper cups, everyone wants to know where their everyday items came from.
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Incentives
Incentives
Blockchain ensures incentives are long-term and cooperative because of the transparent nature of distributed ledgers.
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Ownership
Ownership
Ownership is clearly identified through blockchain technology, ensuring resources are well managed.
