By now we’ve all heard the word blockchain, unless you’re living under a rock that is. Whether we’re all blockchain experts by now…well that’s another story. When you think of the word Blockchain, what comes to mind? Bitcoin? Tokens? Crowdsales? One thing is for sure, you don’t have to be a blockchain expert to know what great things this technology can bring to society, and if you’re reading this and are quite the expert yourself – there’s always more to learn about how this cool tech is shaping the world. And of course a coin PR agency will help communicate this message to the public.
Here are 2 ways blockchain technology is contributing to a better world:
Benefits the environment
These days we’re seeing increased awareness for environmental protection with more individuals and companies finding ways to make more globally conscious decisions in their daily lives, even Starbucks has ditched straws. So where is blockchain in all of this? Some companies are utilizing blockchain technology and incorporating it in their infrastructure to help the environment in various ways. Blockchain provides transparency, holding more companies accountable for their products and practices, and helps eliminate fraud and unethical business practices that harm our planet. With this transparency, hopefully more companies will be encouraged to reduce their environmental footprints with better product manufacturing (low carbon emissions), garbage disposal and employee working conditions.
Without some measure and accountability, companies have less incentive to produce and sell products with low carbon footprints. There are of course different methods to incentivize better environmental practices with blockchain. For example, IBM and Veridium have teamed up to bring carbon credits on the blockchain, using blockchain to create social and environmental impact tokens. The goal here is to make it easier for companies to offset their environmental footprints by transforming the carbon credit market with blockchain technology. IBM’s blockchain technology will help transform carbon credits into a new type of fungible digital asset that can be redeemed and traded on a decentralized protocol for digital currency, called Stellar network.
The impeccable order and transparency of blockchain is what’s going to give healthcare a facelift (pun intended). While the digital transformation for healthcare is well underway, there’s still a lot to tackle. And now that so much data has shifted to the web, we’ve witnessed data breaches for medical records and leaked sensitive patient information, as well as hiccups in tracking and monitoring medical facility logistics and drug supply. Blockchain might not be the end all solution for combating these challenges, however it can play a very important role in eliminating some of these problems and streamline better healthcare. Blockchain adds a new layer of security, interoperability and organization for recording and storing information that the healthcare industry lacks.
One inspiring company, FarmaTrust, is using blockchain to provide a secure global tracking system to save lives by eliminating counterfeit drugs from the global pharmaceutical supply chain. The pharmaceutical market is a very profitable one, which means that there are many players trying to get in the game, and sometimes the wrong people get involved and cut corners. To keep the bad guys out and to ensure that all drugs are regulated accordingly, this company has designed a platform that enables regulator reporting for both pharmaceuticals and their supply partners, using FarmaTrust Compliance Tracking Token (CT), which assigns a digital ID to every drug. FarmaTrust has turned to blockchain to help abolish counterfeit drugs and create a more efficient way of pharmaceutical tracking.
If you’re looking to save our planet or save more lives, know that blockchain can help. There are a lot of very inspiring companies out there making an impact in the world and turning to the latest technologies to make a difference. For many, blockchain might not seem like the obvious way to drive social and environmental change, so it’s important to spread the world, inspire others and educate individuals, companies and institutions about the latest developments. This is why it’s also crucial to find the means to get the right message out there and raise awareness, perhaps with an amazing coin PR agency who knows exactly how to craft your narrative 😉