The Earth is losing its biodiversity at mass-extinction rates. One in five species on Earth now faces eradication; this will rise to 50% by the end of the century unless we take urgent action.
Current deforestation rates in the Amazon Basin could lead to an 8% drop in regional rainfall by 2050, triggering a shift to a “savannah state”, with wider consequences for the Earth’s atmospheric circulatory systems. Biodiversity loss has a direct human impact – threatening energy, clean water, and food supply.
Blockchain technology can be used to conserve biodiversity and protect the flora and fauna. Few ways include:
- Habitat Protection and Restoration:
• Cryptocurrency for investment in habitat restoration and species conservation
• Tracking geographic reach and movement of endangered species
• Incentivization for farmers to protect habitats
2. Sustainable Trade
• Transparent monitoring of supply chain transactions
• Real-time traceability of supply chains
3. Pollution Control
• Recording of pesticide use on agricultural land
• Incentivized system for responsible waste management
4. Invasive species and disease control
• Digital data platform for species tracking and disease control.
5. Realizing natural capital
• Timber and other natural resources provenance tracking
• A decentralized natural asset exchange platform
Source: World Economic Forum