Empowering Sustainable Action with Blockchain-for-Good Solutions
By bridging the power of blockchain technology with sustainability, we're revolutionizing climate mitigation efforts across industries - from voting and renewable energy to finance - to deliver unparalleled environmental impact.
According to experts, the blockchain industry may positively impact the environment more than the internet.
Blockchain-for-good technology helps empower?sustainable initiatives, from fighting global warming via decarbonization efforts to securing financial opportunities for the millions of unbanked individuals in developing countries, aiming to improve lives, preserve the environment, and create a better future for everyone.?
What makes blockchain the perfect partner for sustainability?
With its distinctive features and capabilities, blockchain is the perfect sustainability partner, ready-equipped for positive impact using shared, smart contracts and approval-based record-keeping ledgers. How?
·????????Transparent, immutable record-keeping of goods, services, and resources identify inefficiencies and waste, enabling improved sustainable practices.
·????????Blockchains offer lifecycle traceability – essential in mining and extraction industries with labor and resource use concerns.
·????????Blockchain's efficient processes and smart contracts and decentralized ledgers enable energy and cost savings to reduce environmental impact.
·????????Blockchain streamlines collaboration, allowing for greater coordination and collective action, including global supply chains where shared obligations are the hallmark.
Let's talk about the carbon elephant in the room and some solutions.
Despite the existing energy infrastructures in the US or elsewhere, blockchain developers understand how much ‘gas’ it takes to drive the system, but let’s not reasonably discount an emerging, world-changing technology because there are some bugs in the system.
How is blockchain addressing their carbon footprint?
Blockchain, like other technologies, can achieve a sustainable zenith, but how quickly is a matter of policy.
Digital advancements enable climate action.
With open-source technology, global issues such as poverty, hunger, income inequality, deforestation, and the impact of global warming, can help companies scale quickly and cheaply.
Solution #1.?Financial Inclusion
Two million unbanked individuals globally amount to fraud risk. The fix is financial inclusion, where blockchain and tokenization meet, and everyone has a financial passport to interact with multiple agencies.
What it is. Clean Tech Banking?opens supply chain transparency, improves ESG, ensures ethical sourcing, and reduces paper waste. This is significant because banks worldwide utilize?trillions of documents annually, and we need more?companies?willing to challenge the system?to?preserve our forests and clean air.
Understanding the GHGs from tokenization, some clean tech?banks?now evaluate their node holders' environmental footprints.
Who it helps.?Clean Tech Banking could help millions find reputable agents?for products and services without fear of fraud and loss of income.
How it helps the environment.?Paperless banking can save millions of acres of old-growth forests from deforestation annually.
Solution #2.?Supply Chain Transparency?
Supply chain transparency can provide:
What it is. As a blockchain mechanism,?End-to-End Visibility helps purchasers self-govern sustainable actions. In today's world of conscious consumerism, building a bond with the folks behind the products can lead to increased fair pay and ethical practices while promoting ethical standards or organic certifications.
Who it helps.?End-to-end visibility supports farmers, producers, and consumers.
How it helps the environment.?Consumers are presented with data on each product's carbon footprint, enabling more unstainable choice-making throughout the supply chain.
Solution #3.?Decentralized identity?(DID)
In some cases, technology is advancing alarmingly fast, making identity security the next conversation topic for individuals, organizations, and developers.
What it is. Self-Sovereign Identity (SSI) prioritizes individual control and ownership over personal identity data instead of relying on centralized authorities or third-party intermediaries for identity management. SSI instead offers secure, tamper-proof, and privacy-preserving identity management systems.
Who it helps. People and organizations have on-hand credentials for various authorizations, whereas developers gain build better, safer authentication into their programs.
How it helps the environment. The financial costs of identity theft have an environmental impact (energy and paper use) avoidable with SSI systems.
Solution #4. Voting and governance
With end-to-end?verifiable?online voting software, transparency and security are built into the voting and governance system.
What it is. Blockchain-based voting systems?add transparency and accountability to voting day by making detecting and preventing fraud or manipulation in elections easier while accurately reflecting the will of the voters.
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Who it helps. Voters, politicians, and municipalities can audit the ballot box independently without risking voter identities.
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How it helps the environment. Like Clean Tech Banking and Decentralized Identity, the highest costs of voter hiccups or queries have an energy and forest impact made avoidable with Crypto-voting systems.
Solution #5.?Philanthropy and aid?
Charitable causes, like disaster relief, environmental conservation, education, and medical research, are now looking to make secure transactions and benefit from blockchain technology.
What it is.?Crypto Philanthropy's popularity is increasing because it offers a new avenue for individuals and organizations to make charitable contributions. Cryptocurrency may also help individuals avoid capital gains taxes or receive tax deductions.
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Who it helps. Whether a nonprofit, scientific study, environmental cause, or developing nation, the 4th sector always needs solutions that bring capital to worthwhile projects.
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How it helps the environment.?From recycling programs to habitat restoration or even African agroforestry projects, crypto philanthropy can accelerate awareness and impact.
Solution #6.?Decentralized energy
Blockchain technology can improve energy efficiency in the global power sector by enabling decentralized energy micro-gridding while creating new business models.
What it is.?Peer-to-Peer (P2P)?energy trading can supply remote locations with clean and reliable solar power. Individuals first purchase solar panels to gain access to the local energy grid using cryptocurrency tokens for financial leverage, then sell surplus energy for profit.
Who it helps.?P2P trading allows individuals from low-income and indigenous communities to access electrical power in non-grid areas, contributing to poverty alleviation.
How it helps the environment.?P2P products reduce energy consumption, which in turn reduces greenhouse gases, helping to mitigate climate change.
Carbon-centric solutions have joined the blockchain.
Solution #7.?Carbon offsetting?
While degrowth is the term of the day, curbing the climate crisis has to come from all fronts, including carbon offsetting.
What it is.?Voluntary Carbon Markets?have expanded past forestry projects to include regenerative environmental practices that sequester carbon, resulting in eco-friendly poverty mitigation.
Who it helps.?All of us. Voluntary carbon markets can help people globally, changing how they conserve, preserve, and protect valuable ecosystems and habitats.
How it helps the environment.?Voluntary carbon markets have the potential to significantly impact the environment by contributing to ecosystem regeneration and saving millions of acres of forest annually.
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The Power of Traceability
Within a few years, blockchain technology is set to become one of the top 10 most disruptive technological innovations, with the potential to impact environmental policies, sustainable practices, and the fight against climate change. It is important to have foresight and start transitioning towards sustainable innovation for a safer future.
Sustainability isn't just a destination; it's a journey of invention and evolution.
Element United Disclaimer
(Charter went into effect in December of 2022)
Element Nodes and the Element Blockchain are governed by a Distributed Governance Framework (DGF), which is distinct from and not solely controlled by Element United DAO LLC. Any value derived from Element Nodes and Element Digital Rewards is likely to be uncorrelated with the success or failure of Element United.
Element Rewards Standard Disclaimer
Element United does not sell tokens or digital rewards. The Element Blockchain, which is governed by Element Node owners, self-governs the distribution of Element Digital Rewards. Element Digital Rewards are earned in exchange for work and action on the Element network. Element Digital Rewards are designed to have utility throughout the Element Ecosystem for the purchase of Element United’s products and services. The Element Digital Reward is not an investment product and may never have any value outside of the Element Ecosystem.
Element Node owners should not expect to recognize any value from the Element Digital Reward other than its utility within the Element Ecosystem. Element United does not anticipate correlation between the Element Digital Reward value and Element United’s business activities. The Element Blockchain is not backed by gold.
Element Forward-Looking Statement
This document may contain forward-looking statements that involve substantial risks and uncertainties. Forward looking statements discuss plans, strategies, prospects, and expectations concerning the business, operations, markets, risks, and other similar matters. There may be events in the future that we cannot accurately predict or control. Any forward looking statement contained herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not plan to update or revise publicly any forward-looking statements except as required by law.
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