Follow Us

UN plans to explore blockchain to fight climate crisis

Share on facebook
Share on twitter
Share on linkedin

Share

blockchain technology
Share on facebook
Share on twitter
Share on linkedin
  • Blockchain technology could help bring reliability in the energy market
  • UN believes the blockchain technology can possibly help reduce the impacts on our climate by improving reliability of data on harmful greenhouse gas emissions
  • The UN will continue to explore the technology that powers cryptocurrencies
  • Although the UN is willing to embrace the technology, cryptos are still in their infancy

Blockchain technology has been embraced in almost every sector in the world. The technology is also helping medical and agricultural sectors to protect and store data. Recently, the United Nations (UN) has recently shown interest in blockchain technology. On one side the crypto market is facing price dips due to climatic concerns. On other hand, the UN believes that the underlying technology has massive potential to fix the concerns over BTC’s carbon footprint. Indeed, the UN claims that the technology can improve the reliability of information on harmful greenhouse gas emissions.

Blockchain technology can help fight the climatic issues

The UN had published an article this weekend regarding climatic concerns and cryptocurrency impacts. In the report the organization has noted about the negative environmental impact of crypto assets like Bitcoin. The organization observed that the negative impact of such assets has been widely covered in the press, which flagged the volatility of such assets.

However, following the potential of blockchain, the UN believes that the technology could be of great benefit for fighting the environmental crisis. Moreover, the UN claimed that the technology can bring about a more sustainable global economy.

UN will explore the secure technology

In the official publication, the UN claimed that it will continue to explore blockchain technology. Indeed, the organization believes that the underlying tech behind Bitcoin can play a significant role in sustainable development. Moreover, the technology could actually improve our stewardship of the environment.

Read More: Experts Discuss Major Aspects of Blockchain in ‘ALL IN BLOCKCHAIN’ Congress

Notably, the publication noted numerous sustainable and environmental benefits associated with the Blockchain technology. The UN also revealed that the technology has the power to enable transparency and resistance to fraud, climate finance, and renewable energy markets.

How will the underlying technology of Bitcoin help?

The UN is working on theEnvironment Programme in collaboration with the Technical University of Denmark. In the article, the organization mentioned that information on harmful greenhouse gas emissions is incomplete in many countries. 

Read More: Blockchain-powered Dtravel all set to give new experience to travellers

Following the fact, the UN claimed that blockchain technology can provide a transparent path for such nations. Hence, such nations can provide an immutable record of carbon data. Ultimately, the factors will reduce their impact on our environment.

On the other hand, blockchain has also the potential to be a significant part of driving renewable resources, by offering a tool to create a green energy market. According to the UN publication, as renewables like solar and wind power are intermittent and decentralized, new sources of energy are required. 

Will the UN embrace crypto assets too?

Although the UN sees potential in blockchain technology, the organization has emphasized that digital coins are still in their infancy. Following the statement, the UN also claimed that there still are many technological and political hurdles to overcome. 

The article stated that if the most vulnerable are to benefit from the technology that powers Bitcoin and altcoin, more technical research is what is required. Moreover, if the technology truly impacts our climate then more international dialogue, involving experts, scientists, and policymakers are needed.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00