- VeChain as an enterprise-grade blockchain is an ideal tool to achieve key sustainability initiatives.
- Blockchain’s role in the fight against climate change can be boosted by IoT and AI.
With the rate at which the world’s climate is changing today, the adoption of blockchain technology like VeChain in the fight to achieve sustainability has become more pressing. With the efforts of global regulators and governments more defined and diverse, VeChain can come in handy owing to its versatility and general applicability.
VeChain was designed to cater to enterprise applications of blockchain technology, and the protocol, through its flexible smart contracts, has been able to achieve this since its inception. With different integration by several companies around the world, the realization of the importance and usefulness of the protocol to power climate change and sustainability initiatives is now growing at a frantic pace today.
"VeChain offers solutions that relate to long-term sustainability. Companies can record their recycling effort as well as their carbon footprint through the platform which increases their credibility and help them achieve transparency." 💯
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— eisenreich (@eisenreich) February 16, 2023
One of the major efforts being adopted as a result of regulation is in waste recycling and management, a multi-billion dollar industry. This way, manufacturing companies are mandated to use recyclable materials, a statute that is well established in key countries like Germany, Switzerland, Austria, and the United States.
Germany is ranked as one of the most versatile nations that pay attention to recycling, the nation recycles as much as 56% of its waste. While this number is impressive, the 44% of waste that is emptied into landfills or incinerated is a huge contributor to the broader climate crisis that we are trying to solve.
It is worth noting that passing the regulations to recycle or manage waste is one thing, enforcement, and tracking is another thing. Here is where the VeChain blockchain comes into play. The protocol can be used to store recycling data and data from waste management efforts in order to showcase transparency.
The data that is registered on the blockchain can easily be audited by regulators, all of which will lend credibility to global sustainability efforts.
The Role of VeChain Can be Compounded by AI
The role of blockchain-based smart contract networks like VeChain can be further compounded with the integration of other emerging technologies like Artificial Intelligence (AI) and the Internet of Things (IoT).
These technologies are complementary and are particularly useful for manufacturing processes, supply chains, and other avenues tailored to sustainability measures. One other major role of blockchain technology is in the tokenization of recycled wastes which can then be traded on the open market.
With the growing education of the masses as far as sustainability is concerned, blockchain and IoT can easily be used to present recycled products to the public to embrace. The synergy of these three technologies as well as 5G is well-defined.
While IoT can automatically collect data on waste and recycling efforts, this data can then be uploaded onto the blockchain and smart contracts can be used to automatically execute payments and certifications for proper recycling. These techs are further colored by the presence of 5G which can help in the transmission of the data in real-time to all interested parties.
VeChain is at the forefront of the enterprise push for climate change and sustainability efforts, setting the pace for other blockchain protocols to follow.
