TECH SUPPLIER May 2021 - Market Perspective - Doc # EUR147493421
Leveraging Blockchain for Sustainability and Environmental Protection
By: Radoslav Dragov
This IDC Market Perspective examines how blockchain technology enables a variety of solutions that can counteract the looming threat of climate change and environmental degradation. Many of the core features of blockchain — single source of truth, immutability, auditability, and transparency — make it a perfect ally for numerous initiatives that bring environmental benefits. Sustainability-related blockchain solutions can be grouped into two main categories: blockchain for environmental protection and carbon sequestration as well as blockchain for ethical and sustainable supply chains. The sustainability trend will become more pronounced with each passing year and the opportunity will only grow with time, but tech providers will be wise to start acting soon.
"Blockchain for sustainability and environmental good is not just a peripheral application of the technology, but a large part of how blockchain will be applied in the future," said Radoslav Dragov, senior research analyst, European Customer Insights and Analysis and European Blockchain lead.