World Economic Forum Proposes Blockchain Solutions for Global Issues

As investigated by the World Economic Forum, the Blockchain ecosystem could be the digital kiss to a globally affecting environmental scrape.

In the first quarter of 2018, for example, it calculated 412 blockchain companies accumulated $3.3 billion in cryptocurrency funding, with a mere 1 percent of those earnings attributed to solutions for energy and utility issues.

According to Celine Herweijer, partner, PwC U.K., the primary utilization of blockchain technologies has gone into building businesses, thrusting finance and commerce into reform.

Dominic Waughray, head of the World Economic Forum's Centre for Global Public Goods, is in favor of these points but adds change will not come overnight.

The world already relies on technology, and therefore electricity, to maintain societal needs.

If these consumable responsibilities are entrusted to the nacre of blockchain applications, sustainable resources and finances, and even information, can become a tangible ecosystem of the near-future.

At the very least, blockchain technology has the attention of big businesses, many of which have the power to influence or make legislation.

As a gross domestic product of measurable market value, PwC estimates 10 percent global blockchain adoption by 2025.

"Looking further afield, expected advances in AI, distributed computing and quantum computing will likely support - and potentially accelerate - blockchain's technological evolution. If it truly lives up to its promise, this new global computational architecture could rewire commerce and transform how society operates, becoming one of the most significant innovations since the creation of the internet. The opportunity to harness this innovation to help tackle environmental challenges is equally significant."

Blockchain technology is an opportunity for the environment, and its reach beyond ledgers and entertainment into global security measures isn't going unnoticed.