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Can crypto be beneficial for the environment?
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Can crypto be beneficial for the environment?

Blockchains are used to create smart contracts like Alogrand, Ethereum, TezosOr Solana offer the world a way to have an agreement that is not being overseen by a middle man. The agreement is secure, cannot be altered, and everyone can see it. It also has the following: smart contract, which just means that you can programme the contract to do a bunch of things autonomously.

For example, on a 1,000,000-dollar salary, your take-home earnings should be 541,161 before tax and National Insurance. Loads but many people hide their earnings in order to pay less tax.

But: if a company was required by law to have a smart contract that took the tax, and people could look at a blockchain to show where that tax has gone, it would make it very difficult to dodge tax because itll just happen automatically and accurately. This could be used to ensure that a completely fictional bazillion-quid company is not evaded. Bamazon contributes its fair share to taxes. This would help the planet in almost every way. Political influence is impossible because smart contracts are tamperproofed.

While it might seem a little rich (and/or incredulous) that companies will willingly be pulled into doing these sorts of things, lets take it back to the environment more specifically.

Companies love the PR of being loved by the public on a mission to become carbon negative. They could be carbon offsetting in order to do this. They might be aware of Kilma DAO, which is a blockchain that aims to make carbon production more expensive (thus making renewable energies more financially sensible), and a company decides not to partner with them, they could look like they were trying to hide something within their goals of trying to be carbon negative.

Carbon offsetting is not without its merits, but this example shows that blockchains can hold companies responsible when it comes to helping the environment.

There are many ways crypto could help the world. The issue is around whether countries around the world will collectively give up their power to adopt it; whether these blockchains can operate on a global scale; and whether we can cherry-pick the best bunch of crypto projects thatll help the planet and get everyone using them (tricky).

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