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- VeChain partner BCG says that in humanity’s race to sustainability and net zero, we must be wary of varying paces of progress and rely on coordinated solutions.
- BCG has partnered with VeChain to create blockchain biospheres that enable users to get rewarded on-chain for their efforts toward creating a better future for the human race.
We are living through one of the most defining eras in human history. While it will be remembered as the era when everything went digital and AI became a part of our societal fabric, this is also the era in which humanity could either chart the course to a better and more sustainable future or risk a wipeout. Blockchain technology will play a big role in this transformation, and a partnership between VeChain and BCG is showing what’s possible.
In a recent post, the Boston-based consulting giant pointed out that fragmentation presents one of the biggest challenges to the march toward a sustainable future.
đ Join the Green Revolution! #VeChain Biosphere teams up with #BostonConsultingGroup to transform sustainability efforts, combat carbon emissions, and safeguard our food supply chain. Let's cultivate a greener future, one innovation at a time! đżđ #VET #Sustainability https://t.co/lXmRHVqV9S
— Collin Brown (@CollinBrownXRP) December 1, 2023
“Slowing economic growth and rising inflation have caused some governments to question the pace of change,” says BCG. Additionally, in some places, regulations and incentives are pushing stakeholders to pursue domestic priorities rather than the global good.
True progress requires coordinated action rather than fragmentation.
The consultancy calls on business leaders to urgently evaluate their carbon competitiveness and urged COP28 leaders to aim for consensus for the global trade architecture to support climate goals. COP28 is the UN’s climate change event that’s ongoing in Dubai until December 12th.
BCG has been vastly involved in COP28, with its global chairman Rich Lesser among those taking to the stage at the closely-watched global event.
VeChain and BCG â The March Towards a Greener Future
Climate change presents the biggest existential threat to the human race. While it may not be as sudden or deadly as the asteroid impact that wiped out the dinosaurs sixty-six million years ago, it’s just as profound and devastating. This calls for coordinated efforts and an approach that involves every human being fighting for their survival, and blockchain technology could play a major role in this new revolution.
VeChain has been working with BCG towards the net zero goal through the development of blockchain biospheres. As founder Sunny Lu aptly captured at a fireside chat on the sidelines of the Money 20/20 event last month, it takes the world’s best to tackle the world’s biggest challenges.
The goal of the blockchain biospheres is to motivate individuals to participate in sustainability efforts through incentives.
Rather than viewing these actions as conscious efforts, the biospheres intend to make them an integral part of how we live by digitizing them and validating them on the vastly scalable VeChainThor network. On its part, the government will use this data, which is immutable and transparent, to develop a Sustainability Index that stakeholders can use to gauge the success of their incentives.
This is the best way to encompass “environmental, social, and economic components of the sustainability process,” believes Lu.
