The latest institution to accept blockchain as a potential solution for present problems is the United Nations (UN) Climate Change Secretariat, which recently announced the formation of a Climate Chain Coalition (CCC) focusing on blockchain based systems for various functions on addressing climate change.
The potential of blockchain technology is not just limited to cryptocurrencies or the financial sector, and that is an idea now being accepted throughout the world.
Since blockchain and its distributed ledger technology (DLT) offer endless possibilities of data sharing solutions with fast, efficient, and secure processes throughout a blockchain network, the CCC will be researching this technology and its use cases for climate change control activities in an extensive manner.
The idea for CCC was developed and reached consensus by a 25-member team of global organizations on the second anniversary of the Paris Agreement.
The CCC initiative is led by Massamba Thioye for research and development of blockchain’s usage for climate change control.
Thioye said in a statement:
“The UN Climate Change secretariat recognizes the potential of blockchain technology to contribute to enhanced climate action and sustainability.”
Through the CCC program, the stakeholders plan to enhance the monitoring, verification, and reporting of climate change activities in an efficient manner, this way, the relevant information could be shared globally without any delay or risk of tampering.
Due to the objectives mentioned above, the initiative has confidence that the program would allow relevant authorities to take timely actions and measures on reported instances.
The UN Climate Change secretariat also developed a charter of principle and values for the CCC and its members to follow.
This charter was presented to maintain organizational best practices through the initiative.
Key points of the charter include resolutions for upholding the Paris Agreement and its long-term goals, advancement of blockchain research for climate change control, establishing and maintaining technological standards, resolution of challenges present within the technology and contribution for socio-economic responsibilities.
Since it is a global and open initiative, the CCC invites any interested parties to apply for its membership. The CCC currently holds around 35 member organizations from across the world and hopes that more would join in the future to continue to work toward solutions.
One of many recent achievements of the blockchain technology
The blockchain technology has recently been making waves regarding adoption and broader acceptability.
Just this month, blockchain technology has been associated with multiple global initiatives such as IBM and Maersk’s collaboration on global shipping solutions, and Qtum’s multiple cross-country partnerships in China.
Even people who sometimes speak against cryptocurrencies do not deny the effectiveness of blockchain, and that is one of the major reasons why the technology is so revered now.
With initiatives such as this one, the exposure that blockchain gets will only keep increasing in the future, and it will truly prove to be the equivalent to the internet regarding world-changing technology.