21% of the carbon emissions that occur in the world every year come from industrial production. 1% of this occurs during aluminum production.
Thanks to the increasing awareness in the society about carbon emissions, companies are under pressure to reduce the carbon footprint created by the products they sell from the production stage to the shelf. Companies are not only pressured by the customer. When they enter the capital market for financing, many funds look at both the financial statement of the company and the carbon footprint score and evaluate accordingly.
Australian Rio Tinto is also the world's 4th largest aluminum producer.
In a statement last week, Rio Tinto announced that all the products it sells will be released with a QR code printed and can be tracked by customers on the blockchain.
Especially the desire of automobile and beverage companies to have a low carbon footprint for the raw materials they use in the supply chain has made Rio Tinto the obligation to tag their products with a QR code and follow them until they reach the end user on the blockchain.
Thanks to the application we mentioned above, any customer of Rio Tinto will be able to see how the raw material leaving the factory travels through the supply chain and how much carbon footprint it leaves with the help of blockchain technology and QR code.
Another blockchain application comes into play in power lines.
Electricity flows from more and more renewable energy sources to power lines with each passing day. After the countries have made binding decisions on carbon emissions, the distance from fossil fuels, the more renewable energy-based electricity consumed in energy distribution lines increases.
However, there is a problem.
The amount and distribution of electricity generated from solar and wind energy is highly volatile due to weather and climatic conditions. In addition, the amount of electricity produced by renewable energy sources may not be sufficient at times of peak energy consumption. Having to balance this situation, energy distribution companies have to make backups from fossil sources in order to intervene in the continuous flow and prevent consumption interruptions. This situation also causes serious costs ..
Energy Balancing Platform EQUIGY.
The platform that aims to solve the imbalances between supply and demand that may occur in the network by including blockchain technology and millions of small electric vehicle users into the game.
This platform works on the principle of storing extra electricity produced from renewable energy sources from batteries, and then using the energy collected in batteries when the energy consumption increases too much, such as millions of electric cars, etc.
Thus, it is aimed to prevent supply and demand mismatch and unnecessary fossil fuel use, which may occur in periods of increased consumption in the grid.
Blockchain comes into play at this point.
As the electricity consumed over the network is sorted according to the source of the demand (Industry or individual use?), And if it is to be directed to batteries and consumed, it is billed separately for each transaction that will occur, and the tracking of extremely complex works is carried out on the EQUGY platform thanks to blockchain technology.
As you can see, blockchain is entering our lives step by step.
Take the issue of cryptocurrencies, which everyone has been talking about recently, with this eye.
Supply chain follow-up, energy distribution lines, insurance transactions, land registry and cadastral transactions, etc.
Cryptocurrencies (most of them) are actually tokens of platforms that work with blockchain or similar technologies.
"Blockchain is fine, but what's behind cryptocurrencies?" It doesn't work by saying.