Climate Chain Coalition, a good blockchain for climate and energy transition?

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Christophe
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Climate Chain Coalition, a good blockchain for climate and energy transition?




by Christophe » 20/02/18, 10:10

Blockchain technology can finally be good for the environment ... to relate to: economy-finance / bitcoin-and-cryptomonnaies-c-is-what-a-bubble-financial explanations-en-5 minutes Chrono-t15489.html

The Blockchain, one of the keys to the Paris Agreement

The blockchain is very energy-intensive, and yet it could be one of the key application of the Paris Agreement, according to Stéphane Voisin, a specialist in green finance and sustainable digital innovation at the Louis Bachelier Institute. Thanks to its inviolability and flawless traceability, it would participate in its implementation, provided to use alternative blockchains more respectful of the environment.


What is the blockchain?

We must think of the blockchain as a register. A kind of big book of accounts, which will be both falsifiable, traceable and distributed among all its servers, which makes it resilient. It is interesting to analyze the convergence between the initial spirit of the blockchain and the themes of sustainable development. The first type of blockchain, bitcoin, was born as a result of 2008's financial crisis. The initial idea was to create a resilient alternative currency in the face of a possible collapse of the traditional financial system.

How can the blockchain participate in the energy transition?

The blockchain can certainly become a digital infrastructure capable of carrying some of the ambitions of the Paris Agreement whose architecture is built on consensus. This is the miracle of 12 December 2015: having managed to build consensus at 195 country. But after COP 22 and 23 we realize how difficult this consensus is to hold. But the blockchain is a formidable machine to build consensus. Other features of the Paris Agreement resonate perfectly with Blockchain such as traceability, reliability and, of course, transparency.

How will this blockchain work?

Several organizations participated in the creation of a coalition called Climate Chain Coalition. It aims in particular to develop a standard. That is to say, a common protocol that would ensure that for a tonne of CO2 emitted or a ton of CO2 avoided, there is no two blockchain that overlap. Once this standard has been developed, we will be in a much easier position to bring Blockchain solutions to the heart of the implementation of the Paris Agreement. But beyond the acceptability of this technology by the states, our intuition is that the Blockchain will, anyway, go beyond the institutional frameworks and impose itself in a more fragmented way, starting at the level of communities and local currencies integrating a low carbon dimension for example.

Yet, we know that the blockchain is very energy intensive. Is it not contradictory with climate protection?

The energy consumption and carbon footprint of some blockchains are obviously not compatible with the Paris Agreement. The energy footprint of bitcoin for example, which each unit weighs on average 3 tons C02, is roughly similar to the carbon footprint of Ireland. It's one more country on the map in terms of emissions! We are therefore studying alternative protocols of consensus that are not at all energy-consuming and that emerge. These new protocols still need to be consolidated but they exist.

Interview by Marina Fabre


http://www.novethic.fr/actualite/enviro ... 45470.html

ps: it is not the blockchain that is energy-consuming but the mining of cryptocurrency ...

More info in english:

https://cop23.unfccc.int/news/un-suppor ... ate-action
http://www.climatechaincoalition.org/
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Ahmed
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Re: Climate Chain Coalition, a good blockchain for climate and energy transition?




by Ahmed » 20/02/18, 12:04

It is difficult to see how such a technique could effectively relay a policy which essentially boils down to wishful thinking ... Certainly, in "advanced" countries, the energy transition appears to be a godsend for boosting growth, but elsewhere the means that make priorities are no longer the same ...
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