Blockchain

It Is Real and It Is Here

single-image

bitbond bitcoin lending

Every week sears a new image of climate change into our collective consciousness. A few decades ago, we heard about ozone holes and ice melting at slightly higher rates than anticipated. Today, the reminders of climate change are more visceral and immediate: California’s hills and forests burn, Venice’s city council chamber floods, and Iceland holds a funeral for a glacier. 

The United Nations held a global Climate Summit at the end of September last year, though there were real disappointments — with the United States notable for its silence. Political and business leaders alike agreed that more needed to be done and committed to taking real action to combat environmental decline. Everyday citizens around the world approve, as the worldwide climate protests showed. Dozens of industries have parts to play in the struggle against climate change, including blockchain — notorious for running dirty. 

For many people outside of the tech industry, blockchain is synonymous with cryptocurrencies like Bitcoin (BTC). The Bitcoin chain was the first blockchain designed and deployed, but many new iterations of the technology have appeared in the decade since the first links in the blockchain were assembled.

Things have changed, but honesty is important: If blockchain has had a bad reputation with environmentalists for much of its history, it has deserved it. Bitcoin relies on intentionally wasteful calculations for its security encryption. Bitcoin’s pseudonymous creator, Satoshi Nakamoto, wanted to make his ledgers impossible to attack by making the cost of a hack ruinously expensive. He succeeded, but the environment suffered. 

Related: Green Policy and Crypto Energy Consumption in the EU

The Bitcoin miners who run the calculations producing new coins emit nation-state levels of pollution. Thankfully, most contemporary blockchains do not operate like Bitcoin. New technical protocols like proof-of-stake reduce the processing and electrical power that Bitcoin’s proof-of-work encryption mandates. Post-Satoshi developers have found ways to harness the security, decentralization and safety of blockchain without maiming the environment. 

So, what can the new blockchains do for the environment? As a paper presented to the European Council for an Energy Efficient Economy, or ECEEE, argued: Blockchain can streamline processes, eliminate wasteful portions of a supply chain, and cut inefficiency-driving middlemen. The authors also call attention to blockchain’s potential for tracking and thereby discouraging environmentally destructive behavior. 

Utility companies, to take just one example, could use blockchain to prove to consumers that the energy they use derives from clean and sustainable sources, rather than oil, gas and coal. In one case, blockchain helps the environment by stopping unsustainable practices. In the other case, blockchain spurs change by shining light on bad actors. In both scenarios, the world changes for the better. 

While the ECEEE paper’s lead author, Beatrice Marchi, is affiliated with the University of Brescia, Italy, blockchain for the environment isn’t confined to academic theory. Several firms have already begun applying blockchain principles to environmental goals. 

AmpleMeter is a community-led blockchain initiative that encourages students, faculty, and staff at universities to save tokens. Though it began on-campus, there are few reasons it cannot spread elsewhere. If we look further afield, we find Australia’s Mobi, an environmentally conscious ridesharing app that incorporates blockchain. And there’s even an active utilities program that uses blockchain: SolarCoin is a decentralized reward program that incentivizes energy providers to earn blockchain-based digital tokens.

AmpleMeter, Mobi and SolarCoin are among the first projects to use distributed ledgers and blockchains to address the most pressing issue of our time; they will not be the last. More than half of Americans believe that climate change is a major threat, and people all over the world are especially concerned, as the global climate strikers showed this year. Blockchain is a young technology that offers new solutions to the problem. Climate change is accelerating, but so too are the efforts to combat it. The blockchain industry has the chance to play a vital role in this great drama. I’m happy that innovators have already begun efforts to change the world for the better. I look forward to seeing what they will do in the months and years ahead. I expect great things.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

David Mansell is the co-founder and director of NEM Ventures, the venture capital and investments arm of the NEM blockchain ecosystem. David has more than 20 years in project and operational environments at a senior and strategic level, with a strong focus on driving delivery, creative solutions and leveraging his deep commercial network worldwide. With broad experience in the origination and execution of investment between private and public entities, David has identified new business opportunities, researched market conditions and developments, and managed personnel across business sectors. David has also worked extensively in the energy supply sector as Portfolio Director of Bristol Energy and Project Director of Energy World Group.





Source

Leave a Reply

avatar
  Subscribe  
Notify of

You may also like

Bitcoin

Selling Bitcoin Now for ‘Fiat Debt-Coupons’ Is a Crime

single-image

bitbond bitcoin lending

Bitcoin (BTC) will be the only exit from the “global reset” of finance which will allow central banks to even destroy the banking system itself.

That was just one conclusion from Simon Dixon, CEO of cryptocurrency funding platform BnkToTheFuture, in the latest episode of financial news program the Keiser Report on April 7. 

Dixon: “World’s largest regulated Ponzi scheme” is dying

Discussing the global coronavirus epidemic and its impact on global finance, Dixon warned that the health aspect of the crisis was by no means its worst.

“I don’t want to be dramatic, but this is a global reset in the financial system,” he told host Max Keiser.

Coming after, he said, was a massive “scrambling” for power by governments and central banks. Taxpayers and those forced to rely on fiat money will pay the price.

Dixon continued:

“I think we’re going to see a…


View More Article
Blockchain

CargoSmart, Tesla and Cosco to Pilot Blockchain Tech in Cargo Release Process

single-image

bitbond bitcoin lending

CargoSmart, the software wing of the Hong Kong-based Orient Overseas Container Line, aims to transform the cargo release process using its new blockchain application.

According to a report published by Splash 247 on April 7, CargoSmart partnered with Cosco,  Shanghai International Port Group (SIPG), and the electric vehicle and clean energy behemoth Tesla to conduct a pilot project for the application.

Digitizing the shipping industry

The traditional documentation processes of the shipping industry are cost and time-intensive, which makes the whole industry less efficient. CargoSmart has been conducting research and development for its application to reduce consignee and shipment agent verification steps. 

The firm aims to digitize the documentation process and reduce the overall time for picking up cargo from shipping terminals and thus reduce delivery times. 

Speaking of how their blockchain-based application would help the shipping industry globally, Cargo Smart stated:

“The…


View More Article
Bitcoin

Bitcoin Has Gained $600 for 3 Consecutive Mondays — Price Hits $7,400

single-image

bitbond bitcoin lending

Bitcoin (BTC) bulls showed up early Monday morning and took full control of Bitcoin price by sending the price through the $6,900-$7,200 resistance zone to a nearly 4-week high of $7,454. The surge to $7,454 occurred as the United States’ markets opened strong, leading the S&P 500 and Dow to rally 7.03% and 7.73%, respectively. 

It seems investors are beginning to gain some confidence as the rate of novel coronavirus infections begins to slow down in Italy, Spain and China along with murmurs of additional financial stimulus packages from governments. 

Crypto market daily price chart

Crypto market daily price chart. Source: Coin360

BTC price bullish but the future is in flux

Bitcoin’s strong upside move pulled the price above the rising wedge trendline and through the $6,900 level which has functioned as a…

View More Article
Bitcoin

Bitcoin Price Will Go Up as Only Profitable Miners Remain: Data Analyst

single-image

bitbond bitcoin lending

Approximately 4-weeks ago global equities markets were in distress as investors finally realized that the coronavirus was not just an illness restricted to China, but rather a global pandemic which could permanently damage economics across the globe. 

Crypto markets were not shielded from the mayhem that led the S&P 500 and Dow to post some of the biggest losses since the 2008 global financial crisis and investors will recall that on March 13 Bitcoin (BTC) price dropped more than 50% in the span of 24-hours. 

To date, the volatility and fear within financial markets remain and the future forecast for equities markets is still gloomy but some investors are at least beginning to feel that the absolute worst has passed. 

As is customary in the crypto sector, when a catastrophic event occurs, analysts, traders, soothsayers and crypto Twitter personalities peer through the dust and rubble…

View More Article
Blockchain

What is Prime Brokerage, and Will it Gain Traction in Crypto?

single-image

bitbond bitcoin lending

From margin trading to futures, many services have made the leap from traditional financial instruments to cryptocurrency. But there’s one that has yet to enter the consciousness of most crypto traders: prime brokerage.

Here, Bequant CEO George Zarya explains why 2020 could be the year that this technology starts to gain momentum, how it’s used across commodities and equities, and what it could deliver to those who currently own digital assets.

1. Can you explain prime brokerage simply? And why isn’t it common in the crypto world?

The main pain point a prime broker is solving for its clients is efficiency of collateral management. This means that clients may access multiple liquidity venues through one window, manage their collateral and settlements efficiently, and have access to leverage based on their overall portfolio, or so-called portfolio margining. 

The crypto world…

View More Article
Blockchain

BitMEX Operator Gives $400K Sponsorship to Cybersecurity Nonprofit

single-image

bitbond bitcoin lending

HDR Global Trading, the operator of crypto exchange BitMEX, is giving a $400,000 grant to the cybersecurity nonprofit Shadowserver Foundation.

In an April 6 statement on the company’s blog, HDR Global Trading announced that it would offer $400,000 to the organization over the next four years. The BitMEX operator will be acting as a member of the nonprofit’s new industry alliance for Internet security.

Richard Perlotto, Shadowserver Director, thanked HDR for “their rapid response to our call for help” and emphasized the organization’s commitment to fighting cybercrime. The director is referring to IT firm Cisco Systems pulling their support for Shadowserver in February, precipitating a call for new sponsors. 

Samuel Reed, Co-Founder and Chief Technology Officer (CTO) of BitMEX, said:

“Shadowserver is an extremely highly regarded player in the botnet defence community. They work tirelessly and make a…


View More Article
Blockchain

Tezos Co-Founder Hints That Her Trading Card Game Will Use Alternative Blockchain

single-image

bitbond bitcoin lending

Tezos co-founder Kathleen Breitman has left open the possibility that her trading card game Emergents may not be built on the company’s blockchain, according to statements made on April 5.

According to the Reddit post, Kathleen pointed out that Emergents might not be using Tezos blockchain technology, saying she had not yet decided on the platform she will use in the game.

In a comment left on the post, she added the following:

“The alpha doesn’t have a marketplace, it’s an alpha. The white paper doesn’t describe any feature that could not be satisfied by any other smart contract platform. I have an obligation to my investors to pick a platform with certain properties, and I am not bound to Tezos.”

Emergents was announced in March, as reported by Cointelegraph. It was advertised as a blockchain-based game competitor…


View More Article
Bitcoin

Bitcoin Price Rallies Higher but Must Hit $8K to Start a Bull Market

single-image

bitbond bitcoin lending

Bitcoin (BTC) closed the week up 15.4% at $6,775 and has started the day with a further 6% move to the upside, breaching the $7,000 handle and making highs at $7,300. 

Looking at performance relative to its peers, Ether (ETH) and EOS have posted an impressive 16% gain over the last 24 hours. As a result, Bitcoin dominance is down 1.5% at 65%.

Crypto market daily price chart. Source: Coin360

The total cryptocurrency market capitalization breached the $200 billion level, breaking from the diagonal resistance dating back to February when the total market value briefly touched $300 billion. 

Total Cryptocurrency Market Capitalization chart. Source:

View More Article