Protecting the Planet With Blockchain
Rainforests are Vital Resources
Managing and verifying any product is usually reliant on documents that could fall prey to manipulation. Or we use digital tracking methods we call “Chain of Custody” systems. As highlighted in a previous PURA segment, “Blockchain and the Future of Mobility,” the blockchain creates a verifiable and sharable ecosystem of transportation and logistics. From dispute resolution to administrative efficiency and order tracking, blockchain is addressing and fixing problems that have plagued industries for decades.That’s great news, but what if we could apply the same blockchain technology to preserving one of our most ancient and extraordinary resources – our rainforests?
Rainforests cover only six percent of the earth’s land surface, yet these precious ecosystems are home to fifty percent (or more) of all land-based species. The extraordinary diversity of rainforests is, without a doubt, their greatest value to humanity. They provide food to animal species and pharmaceuticals to man. Because they create their own rainfall, rainforest are a vital source of pristine stream water that sustains local life, then flows through farms and tropical cities to serve societies. In today’s eco-sensitive world, rain forests capture our imagination and set an objective standard for many preservation projects.
Ensuring Sustainable Development
Legal timber and manmade forests that provide the world with much needed eco-friendly, sustainable, and recyclable products. Illegally harvested and traded timber results in the loss of crucial resources for developing countries. This also devastates our planet while damaging economies and public trust. Over the past two decades, there have been several public and private initiatives that have failed in solving environmental and social issues around harvesting of natural commodities.
The result is that more than fifty percent of all forestry logging activities in key producer tropical forests are illegal. They include areas such as the Amazon Basin, Central Africa, and Southeast Asia. Stepping up to address issues of sustainability and responsible timber trades utilizing blockchain technology are groups like Spain’s ChainWood and Indonesia’s Carbon Conservation, along with initiatives like Amazon Bank of Codes.
Foresty Supply Chains
For instance, Spains ChainWood group promises to improve transparency and efficiency in supply chains related to forestry. The initiative was by the Ministry of Agriculture, Fisheries, and Food. Industry leaders from Galicia, Madrid, Andalusia, Castilla y Leon, and Asturias support the group. The plan is to utilize blockchain technology to improve the flow of information through the supply chain. It could eliminate corruption, and provide a more responsible approach to the preservation of precious land and its resources.
The project would ensure transparency in identifying the best products, their origin, classification, pricing, quality, and authenticity. It would also provide merchants and consumers with real-time logistical data. The final objective is to apply the technology to all industry products such as solid wood, cellulose paste, and biomass.
As habitats are dying, so are the plants, animals and biological diversity that made each so special. Ensuring sustainability in timber-related supply chains is an interesting case for the use of blockchain technology. Much ado has been made over blockchain technology in the financial sector. We at PURA encourage research and development in the hope that future applications may devote themselves towards more immediate calls for sustainability.