Bitcoin and Ethereum tend to be the blockchains decision makers outside the industry think about when distributed ledger technology is raised—including as it relates to climate change. The two largest and most veteran blockchains have developed a reputation for negative climate impact, famously brought to mainstream headlines back in May when Elon Musk walked back his earlier announcement that Tesla would accept bitcoin payments due to the blockchain’s hefty environmental toll.
But dismissing blockchain as environmentally harmful based on its earliest versions is a mistake, particularly when there are already greener blockchains, such as Cardano, on the market. Beyond being more eco-friendly, such blockchains offer promising potential as tools to actually fight against climate change.
There are two issues at hand. The world faces a climate crisis, but it also faces a climate-governance crisis: We know what we need to do to slow or halt climate change, but we don’t know how to actually go about it. The 2015 Paris Agreement marked a historic turning point for global climate action. While there has been some progress in terms of climate change, global warming is set to exceed the agreed thresholds. New and innovative solutions need to be put in place and hold countries accountable who are breaking the Paris Agreement. By adding blockchain to the list of methods to fight against climate change, we can encourage countries who are actually making progress to keep up the good work while discouraging countries who aren't.
Continue reading: https://www.nasdaq.com/articles/could-blockchain-solve-climate-change-rather-than-create-it
But dismissing blockchain as environmentally harmful based on its earliest versions is a mistake, particularly when there are already greener blockchains, such as Cardano, on the market. Beyond being more eco-friendly, such blockchains offer promising potential as tools to actually fight against climate change.
There are two issues at hand. The world faces a climate crisis, but it also faces a climate-governance crisis: We know what we need to do to slow or halt climate change, but we don’t know how to actually go about it. The 2015 Paris Agreement marked a historic turning point for global climate action. While there has been some progress in terms of climate change, global warming is set to exceed the agreed thresholds. New and innovative solutions need to be put in place and hold countries accountable who are breaking the Paris Agreement. By adding blockchain to the list of methods to fight against climate change, we can encourage countries who are actually making progress to keep up the good work while discouraging countries who aren't.
Continue reading: https://www.nasdaq.com/articles/could-blockchain-solve-climate-change-rather-than-create-it
