Blockchain Technology : A Gateway to Sustainable Environmental Stewardship

 

The last year of the last decade – 2020, left nothing that was unscathed. Country after country succumbed to the global pandemic, losing lives and livelihoods, battering all segments of the economy. It highlighted critical gaps and weaknesses in global supply chains, upended trade routes and sales channels in a way that nothing previously has.

It became apparent that we needed a new model and technology innovations that could bring back normalcy in health, social fabric, and livelihoods. In response, the Government Blockchain Association (GBA) formed the Sustainable Environmental Stewardship, working group. Our mission is to help public and private organizations, both big and small, from start-ups to multinational corporations, create Sustainable, Attainable, and Maintainable solutions to combat climate change. We charted the following objectives:

  • To maintain a healthy environment and life support system
  • Purpose-driven strategies to understand the issues to shape and drive the adoption of meaningful solutions that help restore ecosystems on land and oceans
  • Support sustainable food, farming, and fishing
  • Promote sustainable products/ commodities
  • Maintain records of sustainable practices and monitoring of natural resources,  habitats, and endangered species
  • Engage the public and private sector in dialogue about sustainable and environmental stewardship, tapping into private sector corporate social responsibility and sustainability advocates

In the days ahead, we will facilitate a continuous and collaborative conversation with the worldwide community about the fantastic opportunities that the blockchain provides to change the game to promote sustainable development practices. As blockchain, Cryptocurrency, Non-Fungible Tokens (NFT’s), and decentralized identity continue to grow in global acceptance and usage, we will explore how these technologies can support the sustainable use of natural resources, including aquatic, agricultural, livestock, wildlife, forests, and other natural resources. The blockchain holds promise for advancing all 17 of the UN Sustainable Development Goals, from reducing poverty and hunger to promoting affordable clean energy.

There is a common misconception that blockchains are utilized only to support cryptocurrency. While it is synonymous with cryptocurrencies for many, it has many applications beyond Bitcoin and Ethereum. The very nature of the blockchain being a transparent and secure ledger and tracking mechanism makes it a viable solution for many industries, including finance, supply chain, travel, transportation, real estate, and retail. 

While we believe wholeheartedly in the power and potential of Blockchain technology to advance and accelerate SDG’s, we will not shy away from addressing controversial topics presented in a fair and balanced fashion. Blockchain is still a relatively new technology, with room for improvement, but also enough flexibility in design and application to adjust and improve. 

We will take a broad view of Sustainability from Environmental Social and Corporate Governance (ESG) issues now being debated in shareholder meetings and boardrooms to decentralized tokens that can be used to reward or penalize behaviours based on their environmental impact.  

Other topics will include  

  • Is Bitcoin mining “environmentally friendly”?  
  • How can Blockchain/DLT and Smart Contracts translate “Sustainable from seed to table” from catchphrase to reality 
  • The use of blockchain to make connected and autonomous vehicles more secure and “un-hackable” 

 As we progress further to support economic democracy, financial transaction monitoring, address biodiversity challenges, and support smart-city initiatives, we invite blockchain experts, enthusiasts, and those seeking to learn more about blockchain to join the discussion. Visit us on LinkedIn or Government Blockchain Association’s Working Groups – GBA Global. Or better yet, become a GBA member and help invent the future of Sustainable Environmental Stewardship.