Climate change is a global issue the world has been trying to curb, though its existence could be inevitable. However, the steps and solutions to battle it could be just right under our noses.
The Effect of Climate Change
So far, the rise of Climate Change has proved to be something so disadvantageous and dangerous to our world. It is a disturbance to the food supply industry, the emission of harmful gasses, and even our environment in general.
Regardless of the global energy crisis, the Russia-Ukraine conflict, and rising inflation, climate change is still a menacing issue that needs to be addressed straight away.
The unforeseen changes in the weather pattern threaten food production and other natural factors, including the fact that it melts the arctic ice and increases sea levels that might cause detrimental flooding, along with the increase in unpredictable famines and cyclones worldwide.
On the 12th of December 2015, roughly 19 countries signed a legally binding international treaty which is popularly known as “The Paris Agreement” on climate change. The aim of the Paris Agreement was to counter global warming and limit it to an average of 1.5 degrees Celsius. However, besides helpful ideas like this, blockchain technology has also appeared to be on the list of factors that could help aid the Fight Against Climate Change.
HashCash CEO Speaks On The Potential of Blockchain Technology to Assist The Fight Against Climate Change
“The Paris Agreement aims to maintain 1.5 degrees Celsius to prevent global warming. While developing countries are raising climate finance to reach the goal, decentralized ledger technology plays an important role in accurate monitoring, generation, and distribution that powers the fight against climate change,” said HashCash CEO and blockchain pioneer Raj Chowdhury.
Over the past years, blockchain technology has gained a meaningful percentage of popularity, driving its adoption to as far as technology firms utilizing it for their products. As dreadful as the impact of climate change can be, one of the essential aspects of developing effective climate policies, and actions, is data accuracy and crucial transparency factors.
Factors that have proved to be available on the blockchain technology include its immutable and massive potential in supply chain management, clean energy, and renewables, along with forestry, agriculture, food, and much more.
Commenting on this, Raj Chowdhury stated, “A global change requires global cooperation for better governance. Blockchain technology has the potential to share data around the world in real-time, without the fear of data tampering.”
About Chowdury and His Company
Notably, Chowdhury has recently highlighted the potential of blockchain in the education industry and its use in patent claims. Aside from preaching the potential of blockchain technology, Raj Chowdhury is a blockchain pioneer and the Managing Director of HashCash Consultants.
Reportedly, HashCash is one of the top honors in blockchain development. The company has deployed its acclaimed products in more than 26 nations across 6 continents. The HashCash-built crypto payment processor software is used among retail merchants, fostering the global growth of crypto adoption. The company recently disclosed its plan for its white-label products, including the ones that bridge fintech and banking.
Firms in The Industry Interested In The Fight of Climate Change
Speaking of Climate change, Earthfund recently launched a DAO to counter climate change, according to the firm, the cause is called “Carbon Removal,” Dr. Lucy Tweed who is the founder of this initiative stated it will concentrate on locating and funding community-led carbon removal initiatives as a means of contributing to the battle against climate change and removing carbon from the atmosphere.