Blockchain to help fight climate change amid global energy crisis: Raj Chowdhury

Blockchain to help fight climate change amid global energy crisis: Raj Chowdhury

Blockchain to help climate change

The Paris Agreement aims to maintain 1.5 degrees Celsius to prevent global warming. Developing countries raise climate finance to reach the goal, the blockchain technology plays a crucial role in accurate monitoring, generation and distribution that drives the fight against climate change.

Climate change has disrupted several fronts, from disrupting the food supply industry to releasing harmful gases, it has distorted the way our environment works. HashCash CEO Raj Chowdhury highlights the potential of blockchain technology to support the fight against climate change.

In the midst of a global energy crisis, the Russia-Ukraine conflict and rising inflation, climate change is a new complication that requires immediate attention. The sudden shift in weather patterns threatens food production, melts the Arctic ice and raises sea levels that can cause catastrophic floods, along with the increase in unpredictable famines and cyclones worldwide.

19 countries signed a legally binding international treaty on climate change on 12 December 2015, popularly known as the “Paris Agreement”. The agreement aims to prevent global warming and limit it to 1.5 degrees Celsius. As the world brainstorms climate action to accelerate projects against climate change and similar issues, blockchain technology is leading the way in helping the movement.

HashCash CEO and blockchain pioneer Mr. Raj Chowdhury asserts, “The Paris Agreement aims to maintain 1.5 degrees Celsius to prevent global warming. As developing countries raise climate finance to meet the target, the decentralized ledger technology plays an important role in accurate monitoring, generation and distribution that drives the fight against climate change.”

Blockchain technology has gained immense popularity in recent years by disrupting several industries. One of the important aspects of developing powerful climate policies, and actions, data accuracy and transparency are decisive factors. Blockchain’s immutable and transparent nature enables it to help fight climate change. The technology has huge potential in supply chain management, clean energy and renewable energy, along with forestry, agriculture, food and many more.

“A global change requires global cooperation for better governance. Blockchain technology has the potential to share data around the world in real time, without fear of data tampering, says Chowdhury. He has previously highlighted the potential of blockchain in the education industry, and its use in patent claims.

HashCash has been a global frontrunner and won top honors in blockchain development. The company enjoys strategic partnerships with global brands, and distributes its renowned products in more than 26 nations on 6 continents. The HashCash-built crypto payment processor software is trending among retail merchants, contributing to further global growth in crypto adoption. The company recently announced special discounts on all its white-label products, including those that bridge the gap between banking and fintech.

The recent climate conference in Egypt, COP27, has highlighted solid plans and ambitions from several countries. The fight against climate change never ends, especially when the world is dealing with inflation and conflicts. However, blockchain technology with its traceable, transparent and irreversible nature has made it possible to solve global challenges such as climate change.

About Raj Chowdhury:

Raj Chowdhury is the CEO of HashCash Consultants and a Blockchain pioneer. Raj pioneered the first interbank trade finance and remittance implementation of blockchain technology between two of the largest global banks. Raj is a prominent voice in the Blockchain and Cryptocurrency space and actively engages with decision makers in this space. He is a contributor to the Economic Times, Business World and CNNMoney and advises industry leaders on the adoption of Blockchain. He is a member of Asha Silicon Valley, a non-profit organization committed to education for children in emerging countries. Author of the book ‘The Dark Secret of Silicon Valley’, Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.

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