Can blockchains be used as incentive networks for encouraging green activity and renewables?
ESG is an important use case for blockchain. Regulators are understandably concerned about green investing and specifically, greenwashing, and the chain doesn’t lie, so blockchain technology is entirely aligned with achieving ESG objectives and guidelines.
Blockchains, particularly proof of work blockchains, are – or can be – environmentally friendly. The facts speak for themselves: the recent ETH merger will achieve a staggering 99.5% reduction in infrastructure footprint and environmental impact. The fact
that Ethereum is moving from proof of work to proof of stake is also encouraging greater blockchain ‘greening’ (alongside moves towards greener Bitcoin mining, and incentives for using renewables).
There is demand for more dedicated focus on digital ESG, looking at where…