Blockchain and sustainable development: some opportunities

The environmental risks of PoW-based blockchain technology in relation to the SDGs were recently discussed. Certainly, some projects can be highly unsustainable in terms of energy consumption. However, blockchain applications are not only related to PoW or cryptocurrency projects.

A systematic review of the academic literature shows the growing interest in blockchain and SDGs linkages, and gives us some clues about how blockchain technology can be used with sustainable purposes.

Poverty: the blockchain can contribute to the economic development of communities at risk of poverty in several ways: it hinders corruption, it enables cryptocurrency projects (such as Bitcoin Cash BCH) that reach people and have a real utility in their lives, it enables the development of local commerce through local currencies that can be used only in local businesses.

Hunger: it can help to reduce food waste and facilitate sustainable fishing and agricultural practices.

Health: In addition to greater control of healthcare resources, it allows the exchange of medical information while preserving sensitive patient information.

Education: It prevents the fraudulent issuance of academic certificates and contributes to establishing minimum educational standards worldwide without the possibility of cheating.

Gender: The blockchain does not make gender exclusions and its proper use can serve for greater inclusion of people regardless of gender, race, religion or any other distinction.

Water: Avoids wastes and corrupt uses and leads to a transparent control of water resources.

Energy: Like water, it avoids waste, corrupt use, unjustified price increases and transparent control of resources, as well as their generation monitoring (based on renewable vs polluting energies).

Employment: In addition to a new sector in which employment is generated, it allows for greater inclusion and control of the working conditions of people all over the world.

Industry: Control, monitoring and optimization of production processes, as well as better and more transparent quality controls of products and services.

Inclusion: All applications of the blockchain can be oriented towards the elimination of barriers, both at the economic level and at other related to a democratic participation.

Cities: Preventing fraud, controlling traffic, air quality, the origin of food and energy… If the blockchain contributes to the SDGs, it is above all in cities.

Production and consumption: It allows control of sustainability aspects of the products and services consumed, such as their origin or the treatment of wastes.

Climate: Helps to monitor wastes and pollution.

Aquatic life: Tracking and monitoring of marine fauna and flora.

Terrestrial ecosystems: Tracking and monitoring of terrestrial ecosystems and human impacts on them.

Peace, justice and institutions: Citizen control of resources, transparency of institutions, equitable distribution of resources.

Collaborations and partnerships: Undoubtedly contributes to greater trust and transparency, as well as a technological framework that enables solid and lasting multi-stakeholder alliances.

If we take a quick look at best practices from around the world, we can find real examples of all these possibilities! There are several good implementation examples of blockchain technology!.

Technology always has a dark side, but also a positive and hopeful side that allows us to move forward. The problem is not technology, but its irresponsible and uncontrolled application and use .

It is not fair to demonize blockchain technology for its perverse applications, without taking into account the inspiring possibilities it offers us to build a better world. How we use it depends on all of us.

Blockchain is not just PoW.

PoW is not just cryptos.

Cryptos is not just BTC.

@Loucy