According to a recent article in Nature, blockchain technology could help fight climate change by providing a way to track and verify carbon credits.
The article notes that blockchain could be used to create a decentralized registry of carbon credits, which could help to ensure that credits are properly accounted for and that they are not being double-counted. This would create more transparency in the carbon credit market and could help to prevent carbon credit fraud.
In addition, blockchain could also be used to create smart contracts that would automatically release payments for carbon credits when certain conditions are met. For example, a smart contract could release payments to a farmer for sequestering carbon in their soil. This would create a financial incentive for farmers to implement practices that would help to fight climate change.
Furthermore, blockchain can be used to track and verify carbon offset projects. This would help to ensure that carbon offset projects are effective and that the carbon credits they generate are properly accounted for.
Finally, There is a lot of potentials for blockchain to help with climate change. For example, blockchain can be used to create a decentralized carbon trading system. This would allow for a more efficient and effective way to trade carbon credits.