Open AccessBLOCKCHAIN FOR ENVIRONMENTALLY SUSTAINABLE ECONOMIES: CASE STUDY ON 5IRECHAIN
Author(s) -
VILMA MATTILA,
PRATEEK DWIVEDI,
PRATIK GAURI,
Md AHBAB
Publication year - 2022
Publication title -
international journal of social sciences and management review
Language(s) - English
Resource type - Journals
ISSN - 2582-0176
DOI - 10.37602/ijssmr.2022.5204
Subject(s) - blockchain , sustainability , scarcity , commons , business , emerging markets , environmental planning , climate change , water scarcity , environmental resource management , natural resource economics , environmental economics , political science , economics , computer security , computer science , water resources , geography , ecology , finance , law , biology , microeconomics
Blockchain technology, therefore, creates opportunities to make things differently. The field of sustainability is one of the areas where efforts of the international community are scarce and deficient. For this reason, blockchain could be implemented to improve and advance the achievement of UN-SDGs. This paper focuses on the application of blockchain to address pressing environmental challenges such as climate change, biodiversity loss, and water scarcity along with a case study of 5ireChain. It looks at emerging applications including those that might be the biggest game-changers in managing our global environmental commons while assessing the potential challenges and developing recommendations to address them.