Using the Disruptive Force of Distributed Ledger Technology to Fight Climate Disruption
The Internet is entering a Second Era. The first was the Internet of Information, and with blockchain we are entering the Internet of Value. But where are the most important opportunities and how do we anticipate and harness these seismic shifts?
Blockchain in combination with other digital innovations (e.g., artificial intelligence, sharing economy, Internet of Things, big data analytics) and supported by governance mechanisms such as global solution networks (GSNs) can help overcome market and government failures that impede scalable climate and sustainability solutions. Informed by the Paris Agreement, blockchain can support a bottom-up approach to collaborating, innovating, and implementing climate solutions. During the COP23 UN climate conference in November 2017, climate and blockchain experts announced new blockchain-based climate initiatives; and the conference hosted the world’s first blockchain hackathon to fight climate change, Hack4Climate.
To develop a framework, this research included an assessment of the landscape of blockchain initiatives (e.g., alliances, networks, and applications) for climate and sustainability within a framework of the scope of initiative (e.g., carbon credit trading, renewable power), level of maturity (e.g., proof of concept, partnership ecosystem, ICO), and links with GSNs.