In recent decades, discourse around the environment has become more significant and everpresent. People are rightfully worried about how our technologies affect our global ecosystem. With the recent heatwaves and fires that spread around Europe this summer, the topic of climate change has been on everybody’s lips.
Blockchain tech is often a primary antagonist when the environment is discussed. Bitcoin is regularly cited as being deeply energy hungry and detrimental to the preservation of our world. However, several projects in this industry have the opposite effect, directly helping the environment. Let’s delve into three crucial blockchain projects that are making an effort to bring positive environmental change.
Megatech
Megatech is a project that promotes and incentivizes the use of solar power within Africa. To do this, Megatech has launched a cryptocurrency that gives token holders returns on the solar fields that the company owns. When these solar fields are used, token holders earn more money, incentivizing people to fund and promote sustainable energy sources.
Megatech is already in motion to set up one of its solar fields (named Project Beta) in Hertzogville Free state, South Africa. It is a 60-megawatt plant connected to a 100-megawatt per hour (MWh) state-of-the-art storage technology unit. This allows for maximum efficiency and, therefore, maximum sustainability.
The idea behind Megatech is to help solve the energy supply crisis in South Africa, where there is not enough electricity within the country to sufficiently power its national grid, causing blackouts and shortages. However, Megatech is also looking to help the global effort to bring sustainable energy, as they have teamed up with ZPN Energy, a UK energy and storage provider.
Nori
Nori is a blockchain-based carbon removal company aimed at helping people and organizations reduce or neutralize their carbon footprint. To do this, Nori has created a carbon removal marketplace– this is where people can choose to offset or eliminate their carbon footprint by paying other companies to remove carbon from the atmosphere. Currently, the marketplace focuses on allowing people to fund agriculture projects that store carbon within the soil.
When somebody pays for carbon removal on the marketplace, their transaction is logged to the blockchain. They are subsequently given a verifiable certificate proving they have made a positive environmental change. This is especially important as the carbon credit, and removal industry is rife with fraudulent behavior, pushing companies to use traceable and publicly visible records to prevent this.
Rewilder
Rewilder is a crypto-based non-profit focused on purchasing land for wildlife conservation. The project asks users to donate Ethereum, which goes directly towards purchasing and preserving land worldwide. After donating, each user is issued a special NFT that provides regular updates on how their money has been used and what environmental impact they have instigated.
Like Nori, Rewilder is mindful of the need for transparency regarding environmental procedures. Therefore, everything that happens within this project can be tracked and traced via the Ethereum blockchain. People can even find the specific location of the land they helped to conserve via their NFTs.
Shifting Perspectives
These three projects actively change the discourse around blockchain tech and the environment. They are moving the needle away from the damaging practices that projects like Bitcoin have been shown to employ and towards more eco-conscious efforts. And by doing this, they are changing people’s opinions of blockchain tech and proving that this industry can act as a bastion of hope for the world.
The crypto and blockchain industry is becoming a champion of the environment, with Megatech and other projects leading the charge to transform the world back to a state of ecological and climate harmony.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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