Cointelegraph asked industry professionals about blockchain's potential to fight against greenwashing, its current use in environmental efforts, and its long-term benefits for climate action.
According to Daniela Barbosa, the executive director of Hyperledger Foundation, the problem lies with verifying if the companies who claim to be “green” are truly adhering to their professed sustainability plans and goals.
Barbosa believes that trustworthy record-keeping systems will incentivize businesses to adopt sustainable practices, which will help them achieve climate goals and build consumer trust.Meanwhile, Gene Hoffman, the CEO and president of the Chia Network, also echoed Barbosa’s sentiments. According to Hoffman, the current infrastructure of carbon markets is restrictive and not conducive to innovation throughout the value chain.
with future carbon benefits included in their value. These were tracked, delivered and transferred using blockchain, smart contracts and other related technologies.Apart from this, Barbosa also highlighted how the Government of British Columbia launched the Energy and Mines Digital Trust pilot which is building verifiable sustainability reporting. The projectIn addition to these, Hoffman sees the Climate Action Data Trust as the most impactful climate initiative utilizing blockchain technology.
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