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Climate Change & Economic Recovery in a Post-COVID-19 World

This research explores the intersection of blockchain technology, climate change mitigation, and global economic recovery initiatives. The paper examines the po

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Abstract

This research explores the intersection of blockchain technology, climate change mitigation, and global economic recovery initiatives. The paper examines the potential for decentralized digital systems to track carbon credits, verify supply chain emissions, and incentivize sustainable corporate behavior. The methodology assesses the use of immutable ledgers to create transparent, verified carbon markets that mitigate the risk of double-counting—a persistent problem in traditional offsetting schemes. By leveraging real-time data from IoT devices connected to a blockchain, firms can provide verifiable proof of environmental compliance, which is increasingly demanded by regulators and consumers. The report also highlights how decentralized energy grids and peer-to-peer carbon trading platforms can accelerate the transition to green energy in the post-pandemic recovery era. The findings demonstrate that blockchain provides the necessary trust layer to facilitate international cooperation on climate goals. However, the study acknowledges the inherent conflict between energy-intensive Proof of Work consensus mechanisms and environmental sustainability, advocating for the adoption of more energy-efficient consensus models like Proof of Stake to align with climate objectives. Publication: Blockchain Research Institute

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Key findings

  • Blockchain can solve the double-counting issue in global carbon credit markets.
  • IoT-blockchain integration allows for real-time, verifiable carbon emission tracking.
  • Energy-efficient consensus mechanisms are necessary for blockchain to be a net-positive technology.
  • Decentralized peer-to-peer energy markets promote local resilience in power grids.

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Citation

(n.d.). Climate Change & Economic Recovery in a Post-COVID-19 World. Blockchain Research Institute. https://www.blockchainresearchinstitute.org/project/webinar-climate-change-and-economic-recovery-in-a-post-covid-19-world/
Canonical knowledge ID: research:climate-change-economic-recovery-in-a-post-covid-19-world