November 3, 2022<\/p>\n\n\n\n
By Murtuza Merchant<\/p>\n\n\n\n
Climate change is one of the biggest issues facing humanity today.<\/p>\n\n\n\n
Due to 200 years of human activity, we are on the edge of an environmental disaster.<\/p>\n\n\n\n
We are told that there are still things we can do to limit the damage, though.<\/p>\n\n\n\n
The reduction of carbon footprints is one such action.<\/p>\n\n\n\n
Even in the cryptocurrency community, there is a discussion on reducing carbon footprints, and blockchain technology is being considered as a possible tool to reduce carbon footprints.<\/p>\n\n\n\n
In this article, we will look at what this comprises and how blockchain technology can be used to decrease it efficiently.<\/p>\n\n\n\n
What is a carbon footprint?<\/strong><\/p>\n\n\n\n A carbon footprint is the entire quantity of greenhouse gas emissions that are produced by an individual, a group, or an organization and discharged into the atmosphere.<\/p>\n\n\n\n The total amount of several greenhouse gases are measured, albeit it is commonly expressed as the equivalent of carbon dioxide.<\/p>\n\n\n\n The rising amount of greenhouse gases in the atmosphere, which trap more heat from the sun, is what causes climate change.<\/p>\n\n\n\n In that sense, one may define a carbon footprint as the result of an individual’s actions in conjunction with elements related to international commerce.<\/p>\n\n\n\n Businesses manufacture, sell and move goods because consumers need them, and carbon dioxide is a major by-product of these operations.<\/p>\n\n\n\n The more interconnected the issues are, the more complex potential solutions become, leaving the average person frequently unable to make a difference.<\/p>\n\n\n\n Why should I care?<\/strong><\/p>\n\n\n\n The resources of the world are used in various ways by the seven billion people who call it home.<\/p>\n\n\n\n By 2050 and 2100, the world’s population is expected to reach 9.8 billion people, according to the UN.<\/p>\n\n\n\n Growing populations result in higher emissions and a depletion of the planet’s natural resources.<\/p>\n\n\n\n If you are curious about how much CO2 the average person emits, figures are accessible. One tool that lets you view per-capita CO2 emissions is “Our World in Data.”<\/p>\n\n\n\n Rising greenhouse gas emissions have a direct impact on global warming. It accelerates climate change, which has negative effects on our planet.<\/p>\n\n\n\n So, in order to combat global warming, every one of us must begin making decisions that are climate-friendly in our daily lives.<\/p>\n\n\n\n The principal contributors to a carbon footprint<\/strong><\/p>\n\n\n\n What is the source of these emissions? How does that affect the carbon imprint you leave behind?<\/p>\n\n\n\n It should not come as a surprise that a small number of important industries contribute most of the greenhouse emissions that we emit. According to global figures from 2016, the main offenders are:<\/p>\n\n\n\n Burning fossil fuels produced 36013.52 million tonnes of CO2e as energy.<\/p>\n\n\n\n CO2e emissions from agriculture totaled 5795.51 million tonnes.<\/p>\n\n\n\n Land use change and forestry contributed to the production of 3217.07 million tonnes of CO2e.<\/p>\n\n\n\n Industrial processes produced 2771.08 million tonnes of CO2e.<\/p>\n\n\n\n Waste produced 1560.85 million tonnes of CO2e.<\/p>\n\n\n\n How can I determine the size of my carbon footprint?<\/strong><\/p>\n\n\n\n Our actions and lifestyle choices have an impact on the environment. So how do you calculate your carbon footprint?<\/p>\n\n\n\n Calculating your carbon footprint is a smart place to start. If you’re searching for a simpler choice, it’s worth looking into this WWF one as well.<\/p>\n\n\n\n However, both employ the same process, which comprises asking you questions regarding your life and routine to provide a summary of your emissions.<\/p>\n\n\n\n How Blockchain Hopes to Change It<\/strong><\/p>\n\n\n\n The ability to calculate carbon footprint using IoT-compatible smart sensors is one of blockchain technology’s most important accomplishments.<\/p>\n\n\n\n It is possible to compute energy usage and generate data that can be checked, fixed, and compiled on the Blockchain when the two are merged.<\/p>\n\n\n\n By converting carbon emissions into tokens or “carbon credits,” the blockchain allows companies and governments to trade them and reduce their environmental impact.<\/p>\n\n\n\n There will be a rare opportunity to offset carbon emissions because of the transparency and traceability of the data acquired using Blockchain technology.<\/p>\n\n\n\n Another method to significantly reduce carbon footprint is for blockchain projects to join with renewable energy providers and then offer these providers a wealth of blockchain benefits.<\/p>\n\n\n\n Because of this, blockchain-based initiatives like IncubateX were created to make this idea practical.<\/p>\n\n\n\n One of the big-idea renewable energy projects that IncubateX is assisting in launching and promoting is IntegrateSun.<\/p>\n\n\n\n Additional ways the blockchain can be used to cut carbon emissions include:<\/p>\n\n\n\n A self-executing piece of code called a “smart contract” can help the government pay companies automatically when they successfully meet carbon emission regulations.<\/p>\n\n\n\n Blockchain enhances accountability and gets rid of the chance for double counting.<\/p>\n\n\n\n A blockchain network allows the government to do the required auditing by updating data on products with carbon labels every minute.<\/p>\n\n\n\n Blockchain can help participants track the progress of the product and its related emissions from beginning to end.<\/p>\n\n\n\n Industries can also record the specifics of their emissions, keep track of them, and make the required modifications.<\/p>\n\n\n\n Not all stakeholders were able to track, measure, and identify the carbon emissions due to the system’s great centralization.<\/p>\n\n\n\n Blockchain, however, will eliminate this issue.<\/p>\n\n\n\n About the author<\/strong><\/strong><\/p>\n\n\n\n Murtuza Merchant is an avid follower of blockchain, cryptocurrencies and NFTs.<\/p>\n","protected":false},"excerpt":{"rendered":" November 3, 2022 By Murtuza Merchant Climate change is one of the biggest issues facing humanity today. 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