Solving a Modern Problem with a Modern Tool: The Use of Blockchain Technologies in Addressing IPCC’s Climate Change Mitigation Strategies

Less than 20 years after “the computer” was pronounced “Man of the Year” by Time Magazine, we face another technological revolution: the emergence of blockchain technologies (BCT). Many believe BCT, like the internet, will soon permeate into every inch of our lives. Also like the internet, BCT is here intending to solve many of our problems. In particular, BCT is a powerful tool that can be utilized to help tackle global climate change.Global climate change is caused by both natural (e.g. solar variability and volcanic activity) and anthropogenic outputs and processes. Increases in anthropogenic GHG concentrations—carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), and fluorinated gases (HFCs, PFCs and SF6)—account for “more than half of the observed increase in global average surface temperature from 1951 to 2010.

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