ImpactChoice | How Will Blockchain Technology Impact Climate Change?

ImpactChoice | How Will Blockchain Technology Impact Climate Change?

Climate change is a problem that affects everyone in the world and it is a situation that is becoming more dangerous and urgent everyday. Corporate efforts to reduce these dangers and to increase sustainability are far from voluntary or satisfactory. As this problem grows, the need for a radical change in the way we do business becomes evident.

As awareness and legislative efforts regarding these issues grow, the potential for the Natural Capital asset class grows with them. However, there is still no transparent mechanism that can connect producers of these Natural Assets with the buyers and consumers which leads to the classical middleman problem, where the privileged few reap the benefits generated by the industry at the expense of the producers and consumers.

This is an issue that can damper the growth of the Natural Capital asset economy, thus intervening with one of the most promising efforts against climate change. That’s where the ImpactChoice project comes in. Through the use of the Earth Token, a cryptocurrency-based token, and a Natural Asset Marketplace, the ImpactChoice project is able to connect producers and consumers directly, ensuring that every stakeholder in the “climate value chain” is able to participate. So, how does it work?

ImpactChoice is in the process of developing the “Natural Asset Exchange blockchain platform”, which will allow certified Natural Capital Asset project developers to list their products with no middlemen fees involved. The white paper reads

“Since the Natural Assets will reside directly on a blockchain there will be no need for sellers to incur the costs related to 3rd party registries to record sales and retirement of assets”

By using a global currency, the Ethereum-based Earth Token (ETN) as the settlement currency, the Natural Asset Exchange blockchain platform also allows participants to skip currency exchange fees while providing them with reduced transaction fees, which make micro-transactions possible. Settlement times are also reduced drastically.

From the user perspective, interaction with the Natural Asset Exchange blockchain platform will be done through  multiple device types and operating systems (e.g. desktop browser, Mobile iOS / Android, etc.), making it simple and intuitive. Specific Smart Contracts and API’s will also allow for IoT connected devices.

In order to fund the development and marketing of the Natural Asset Exchange blockchain platform, ImpactChoice will host its Initial Coin Offering (ICO) which will start on the 30th of October and last for 21 days.  To learn more about ImpactChoice and the Natural Asset Exchange blockchain platform, visit the official website and read the white paper.