Ever since blockchain technology made its first appearance in October 2008, experts have shown how it can completely revolutionize the world, by introducing greater transparency, security, and opportunities in previously unimaginable ways. Likewise, blockchains’ potential in terms of helping achieve the UN SDGs has also not gone unnoticed.
Introduction to SDGs:
The Sustainable Development Goals are goals that have been put together by the UN, to secure a more sustainable future. Currently, many initiatives are being taken as well as ongoing projects that are contributing to the accomplishment of these goals and blockchain technology too can be used to accelerate sustainable development even further by helping achieve many of the SDGs.
Mentioned below is a list of SDGs and how blockchain can help fulfill them:
Goal 1: Fight against poverty
Blockchain can help the world’s 2 billion-strong unbanked population to participate in trading activities. The transparency and security that blockchain has to offer can help detect fraud and corruption which can reduce poverty as these crimes often block the transfer of money to the underprivileged.
Goal 3: Good health and well-being for all
Blockchain technology is now allowing healthcare centers to share patient healthcare records much more efficiently. Not only this, but organizations can also put disease outbreak data on the blockchain to set up a more effective disaster relief response system.
Goal 4: Spreading quality education
Blockchain can help improve the quality of education by allowing educational institutions to share resources, exam scores, and research data while maintaining data security. Schools can share important information to improve standards for students to access it from different geographical locations.
Goals 11 and 13: Introduce energy efficiency and mitigate climate change
Smart contracts that run on the blockchain can unlock innovative ways to fight climate change and reduce its impact. These smart contracts are completely traceable, transparent, and irreversible self-executing contracts that can be used to reward individuals, governments, and companies when they contribute to or take part in eco-friendly practices such as carbon offsetting, crop insurance, etc.
While many of the things on this list are simply reflective of the potential blockchain holds to contribute to sustainability in the future, many other things have already been executed. For example, we at the RED Platform have already introduced carbon offset for companies through blockchain technology. Thus, they can reduce their carbon footprint in two simple steps:
First, the companies need to register on the platform, and with the help and support of the franchises, they can calculate their carbon footprint through the corporate carbon footprint calculator provided for them. The second step consists in reducing the footprint by burning tokens and generating Green Sustainability Certificates for the action undertaken.
Goals 12, 14 & 15: Responsible production and consumption and improve life below water and on land
Blockchain can help achieve these goals as it ensures good provenance throughout supply chains and because it is also capable of enabling the Circular Economy.
Goal 16: Build peace, justice, and strong institutions
Blockchain technology has to offer data transparency and security like none other which can strengthen information sharing between institutions and the general public. Eventually, this will improve justice in societies, and lead to social peace and institutions with strong foundations. There is also great potential in blockchain to completely transform how democracy works in the future if it is integrated with voting systems. Leaves absolutely no room for vote-rigging or any form of corruption.
We hope that this article has proven to be a resourceful guide in helping you understand the potential blockchain carries in terms of creating a sustainable future. Also, if we caught your attention and you want to know more about the RED Platform, join us by creating an account and going through the KYC process to enjoy all its functionalities. Don’t forget: the platform is addressed to both individuals and companies.
Only together we can help the planet through sustainable initiatives!