Blockchain in Greentech

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Blockchain in Greentech

23 March 20221  |  Blockchain | Greenwich | Climate change 

It is going Green and becoming more sustainable in an effective way. It may not be easy, but the challenge is well worth the reward. At present digital technology and environmental Sustainability seem mutually inclusive. The role of technology is focused on Sustainability and is now the cornerstone of many industries. Put, the technologies that have the potential to be transformational in the future, with a combination of software and data.
Greentech has also become an expanding industry that has attracted enormous consumers and investors’ interest. The goal of Greentech is to protect the environment, repair damage done to the environment in the past, and conserve the Earth’s natural resources. It is a broad and hard-to-define category, and its examples include Alternative Energy, Electric Vehicles, Sustainable Agriculture, Recycling and Carbon Capture. The goal is always on supporting environmental objectives and sustainable practices through the latest technological advances for a clean and safe future.

As Andrew Hatton, Head of IT / CTO Greenpeace, mentions, “We’re essentially fueling 21st-century technology with 19th-century energy sources”. 21st Century Critical Issues are CLIMATE CHANGE with irreversible environmental, economic, political, social and health-related ramifications.

TRST01 Initiative
The mission forward for TRST01 is to cater to the sense of responsibility. The most important initiative is towards venturing into Climate Change Technology by expanding our Core Platform Blockchain traceability, linking it to all stakeholders in the ESG ecosystem. TRST01 ultimate target is to increase the horizon of the social impact and make it to the frontier of ESG accountability. We have started working on this opportunity. Given the market for carbon credits is estimated to be worth more than $400 billion by 2030 and more demand for accountability and transparency in the carbon market, we see an excellent role for blockchain-enabled platforms. The Blockchain-enabled Platform will reveal how much any project component absorbs or displaces CO2 and its SDG indicators. The outlook ahead is to build a carbon model to base a token marketplace to help corporate meet their carbon offset demand using ground observation data and remote sensing images.
Generally, to progress with a blockchain initiative, we suggest a three-phase implementation roadmap to enable solutions- advance from design to development and ultimately implementation, ecosystem adoption and scaling. Blockchain provides an immutable, secure, trustworthy, and scalable solution.

In the words of Prabir Mishra, Founder TRST01, “I feel that the timing is just right for us. Blockchain now is on the cusp of extensive spectrum adoption across businesses, and with our unique positioning, innovation, and agility, we should lead this transformation”.
TRST01 cloud-based blockchain platform enables sustainability measures in real-time, automates data collection and extrapolation, offers supply chain traceability, simulates future impact, and subsequently has begun steps to customize carbon reduction strategies through aggregated benchmark reporting.

Industry Outlook 

The use of blockchains is one of the latest hottest topics in Greentech. The core competencies of blockchain technology are transparency, data auditability, privacy, value transfer, and process efficiency and automation, which can be leveraged to Sustainability. It is fair to say, “Technology isn’t just being developed for the equipment you use; it is happening for the plants you grow too”. Fueled by the need to spread awareness of eco-friendly practices, many manufacturers and retailers are also actively adopting steps to reduce their carbon emissions and keeping consumers informed. Therefore, in translating this message of interest and concerns, blockchain plays a critical role in creating a clear record of product history and adopted sustainable sourcing initiatives, allowing consumers to make a more informed purchase decision.

Transitional Value in Offerings
At present, the environmental impact of each product is difficult to determine, and its carbon footprint is not factored into the price. We at TRST01 wants to play an essential part in making the supply chain more transparent and discouraging wasteful and environmentally unfriendly practices. Our platform enables the potential to track critical data elements whose scope can be increased to various data like the carbon footprint of each product, the greenhouse gas or waste emissions, or a company’s comprehensive history of compliance to environmental standards. TRST01 blockchain technology platform will also provide full transparency on the carbon offset projects you choose to support and ensure they abide by a verified carbon standard.

 

By Prateek Bebortha, Delivery Head, TRST01

 

References

  • Why Are Leds Used In Green Computing?? – Universal QA
  • Single.Earth to link carbon credits to crypto token market …. https://techcrunch.com/2021/07/06/single-earth-to-link-carbon-credits-to-crypto-token-market-raises-7-9m-from-eqt-ventures/
  • Is technology an enabler for Sustainability?. https://www2.deloitte.com/ie/en/pages/technology/articles/technology-enabler-for-sustainability.html
  • Offset carbon footprint – ClimateTrade™. https://climatetrade.com/
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