What is Blockchain?
“Blockchain is moving beyond cryptocurrency, and it’s worth paying attention — especially since successful prototypes show that blockchain, also known as distributed ledger technology, will be transformative.”
Julie Sweet
What is Blockchain?
Although it’s self explanatory from it’s name — Blockchain implies series of blocks chained together. Blockchain is essentially a digital ledger of transaction that is apparently distributed across the computer network. In simple terms, it is glorified Linked list. This Technology through which Blockchain is managed is known as Distributed Digital Ledger. Blockchain is typically managed by a peer-to-peer network working simultaneously together to solve complex mathematical problems in order to validate new blocks. Once recorded, the data in any given block cannot be updated retroactively without changing all subsequent blocks, which requires the confirmation of the majority in the network.
Features:
- DISTRIBUTED
- IMMUTABLE
- DECENTRALISED
- SECURE
- TRUSTWORTHY
- ACCOUNTABLE & RELIABLE
Have you ever through Blockchain Technology could help to combat the climate Change?
There are volley of ways in which Blockchain Technology can provide aid and assistance to fight the climate change. Three most handy use cases of Blockchain to handle climate Change;
SUPPLY CHAIN MANAGEMENT
Supply Management is essentially the fashion in which one manages the resources , acquiring of the resources and henceforth distribution of the resources.
For instance- In India, in the year 2020, when the pandemic started and lockdown was imposed , there were apparently several cases which resulted in the people getting chaotic. One of the major rationale behind this was fear of lack of resources. There were series of scenarios wherein there was lack of medicines , disruption in the supply of essential items etc. Basically ,Supply management system was one of the worst hit . But with the aid and assistance of Blockchain , this problem could be addressed. Counterfeit stuff and the problem of black marketing could also be taken care off.
Infact even after the vaccines came into play , there was black marketing-hoarding of the vaccines. Blockchain can effectively give no room for these black marketers to engage in such unethical activities.
Blockchain can be used to track products directly from the manufacturer to the consumer, smart contract generally contains all the required information of the products , ensuring and giving a sense of accountability and reliability.
With the aid and assistance of Timestamp datatype, the location is tracked and traced. With this there will be no room for fraud and unethical activities.
Link Of the Project:
2) RECYCLING
“It’s hard to move when no one is clapping for you”. With the current recycling programs, people often don’t have good incentives to participate.
There are slew of NGOs and organisation running behind Recycling stuff and conducting various recycling programs but over a period of time, energy gets wiped out. A recycling programs on a Blockchain network could effectively turn out to be a scintillating success. It would financially reward in the form of a cryptographic token in exchange for depositing recyclables like plastic containers, cans, or bottles.
NON PROFITS
Bureaucracy, corruption, and inefficiency are very much present in our system.
For instance- you donate money to an anatashmam or imagine Covid relief fund, you never know if it goes to the needy or not.
The soul purpose of sending money is to help the needy but here you don’t know if it really goes to the needy or not. Blockchain Technology can be handy in this as it is decentralised. Blockchain-based money could even be released automatically to the correct parties in response to meeting specific environmental targets.
