The World Economic Forum (WEF) foundation has drawn more than 65 blockchain use cases for resolving the “most pressing” environmental issues.
This is according to a report that was released just recently.
In the report, which was called “Building Block(chain)s for a Better Planet,” the Switzerland-based WEF has highlighted a large number of blockchain applications that could be utilized to help solve the world’s most pressing environmental challenges.
The recommended applications, according to the WEF, could augment the environment protection efforts in a number of different ways, such as new financing models for environmental outcomes, the realization of non-financial value and natural capital, citing more efficient and cleaner decentralized systems, and others.
Aside from the potential for boosting current processes, the report also mentions the possibility of launching completely new blockchain solutions – so-called “game changers” – that are expected to wholly alter the way major environmental issues are handled.
These “game changers” include “see through” supply chains, decentralized energy and water management systems, sustainable fundraising sources, carbon markets, and others.
According to the report, the next significant step in launching blockchain applications for environmental protection is the founding of a “responsible” and “global” blockchain ecosystem, as opposed to funding specific projects.
In conclusion, the WEF also pointed to the problem of unnecessary use of blockchain caused by the hype.
To resolve this issue, the organization has proposed three major questions to be considered as a starting point for any blockchain-related initiative: can the technology solve a specific problem, can the risks of unintended consequences be managed acceptably, and whether a functioning ecosystem of stakeholders is available.
Posted from my blog with SteemPress : http://www.cryptalnews.com/wef-blockchain-environmental-protection/