Blockchain technology has been at the forefront of discussions surrounding sustainability and environmental responsibility. Recent developments have showcased its potential to drive positive change, and the IOTA Foundation, along with its ecosystem partners including the United Nation’s BC100+, is leading the way. In a workshop hosted by the Global Business Blockchain Council and European Partners for the Environment in New York City, the role of distributed ledger technology (DLT) in fostering sustainability was emphasized, with IOTA’s involvement taking center stage.
IOTA and BC100+: Pioneering Sustainability
From its inception, IOTA has prioritized energy efficiency and sustainability in its design. Aligning with the vision of BC100+, it has consistently focused on facilitating real-world impact, enabling purpose-driven assets, and fostering collaborations between projects, decentralized applications (dApps), and communities committed to green technology and sustainable objectives.
Blockchain for Sustainability Workshop
On September 13th, 2023, the IOTA Foundation’s Mariana de la Roche, who is also a human rights lawyer, participated in a forward-thinking workshop organized by the Global Business Blockchain Council and European Partners for the Environment, hosted by Microsoft in New York City. According to the organization’s blog post, this event showcased how IOTA’s innovative technology is being harnessed to create blockchain applications geared towards sustainability.
The Diverse Participants
The workshop brought together a diverse range of participants, including Shamika N. Sirimanne, Director of the United Nations Conference on Trade and Development (UNDP) Division on Technology and Logistics, Gayan Peiris, Head of Data and Technology at UNDP, and Ashok Adiceam, Deputy Special Envoy of the President of the French Republic for the 3rd United Nations Conference on the Ocean.
IOTA’s Role in BC100+: Bridging Blockchain and Sustainability
De la Roche highlighted the role of BC100+, where she serves on the steering committee, and which includes the IOTA Foundation as a founding member. BC100+ serves as a crucial link, connecting the blockchain ecosystem with the broader initiatives of UN agencies in support of the UN Charter values and the Sustainable Development Goals (SDGs).
IOTA’s Impact on Sustainability: Community Projects
During the workshop, three community projects powered by IOTA were also showcased, each focusing on unique aspects of sustainability:
1. Demia: Catalyzing Carbon Market Efficiency
Demia, formerly known as DigitalMRV, emerged as a spin-off from the IOTA Foundation and ClimateCHECK. Over the past five years, they have collaborated with organizations such as UNFCCC, Gold Standard, and Dell Technologies. Demia’s platform orchestrates carbon markets, streamlining audits and certifications to enhance the value of carbon credits. Through collaboration within the IOTA ecosystem and participation in initiatives like BC100+, Demia accelerates efforts toward a more transparent, secure, and sustainable future.
2. KUPKrush: Revolutionizing Recycling Economics
KUPKrush is on a mission to revolutionize recycling economics by incorporating environmental and recycling costs into product prices. This approach ensures that the responsibility for these costs does not fall solely on communities and future generations. Using IOTA technology, KUPKrush rewards verified actions that contribute to recycling, all without the energy waste and transaction fees often associated with traditional blockchains. Their vision includes a world where transparent recycling information is freely accessible to all, eliminating the potential for “greenwashing.”
3. Zentrix: Empowering Sustainable Mining
Zentrix, a Web3 development and consultancy hub, brings practical blockchain application experience to industrial sectors. Their CEO, Nenad Gilgoric, represented the DIG_it consortium at the workshop, an EU-funded Research and Innovation consortium focused on digitizing the mining supply chain for sustainability. Blockchain, as applied by Zentrix, monitors mining processes and performance, promoting responsible production and consumption by ensuring the traceability and regulatory compliance of minerals. Being part of BC100+ amplifies their project’s impact, enabling the sharing of knowledge and best practices for a more sustainable mining industry.
The intersection of blockchain technology and sustainability is undoubtedly transformative. Through the IOTA Foundation and its collaborations within BC100+, the world is witnessing the birth of innovative solutions that address critical environmental challenges. As these projects gain momentum, they hold the promise of a greener, more sustainable future for all.