Blockchain Technology for Biodiversity and Conservation

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:

  1. 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

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