The technology of the blockchain goes far beyond the industry of cryptocurrency. According to a report presented at the world economic forum, the blockchain will help solve many environmental problems.
The report, entitled "Building Blockchains for a Better Planet" (Create blackany for the good of the planet) is 65 ways to use technology to reduce harm to the environment. Despite the hype over the blockchain, experts believe that the technology is really capable to solve many important problems.
The report refers to the following main advantages of the blockchainthat will help to improve the ecological situation in the world:
- High efficiency decentralized systems.
- The possibility of peer-to-peer interactions.
- The transparency of the supply chain.
- The creation of new more energy-intensive financial models.
However, the authors of the report indicate that the blockchain can not solve all existing problems, so technology should be used wisely. In particular, when deciding about the use of blockchain , the company management must answer three main questions:
- Can the blockchain eliminate existing deficiencies in a particular industry?
- Whether the company has the necessary resources to create a blockchain platform?
- Will the firm reduce risks and negative consequences of the application of blockchain technology?
The blockchain is able to improve the performance of many operational processes, to increase transparency and security of business to remove unnecessary intermediaries from the financial systems. All of these factors will allow to reduce the cost of manufacturing, shipping and selling products, reducing costs means reducing harm to the environment and improvement of ecological situation in the world!