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VeChain's role in fostering global sustainability. |
In addressing the world's most pressing sustainability challenges, VeChain recognizes the need for collective, global action. Our mission is to amplify individual efforts, creating a powerful synergy that can effectively combat climate change, environmental degradation, and social inequities.
We aim to empower individuals to engage with sustainability in their daily lives by providing tools and platforms that enable informed, impactful decisions. Our focus areas include access to healthy food, clean water, and fresh air - fundamental elements of human existence and well-being.
For our ecosystem to be sustainable, the infrastructure itself must first be sustainable. The VeChainThor blockchain offers an energy-efficient, user-friendly, open platform for collaboration.
VeChainThor features a new Proof of Authority mechanism – PoA 2.0, that strikes a much-desired balance between speed and security. The result? Scalability and lower energy consumption, making it the ideal blockchain to jumpstart sustainability initiatives.
Over the years, several assessments have demonstrated the network's energy efficiency, but we’ll let the numbers speak for themselves. The 2022 carbon footprint of VeChain’s network of 101 authorities masternodes was calculated to be 4.46 t CO2e/year, ranking VeChain as one of the most energy efficient blockchains, using just 0,000216 kWh of electricity per transaction, or roughly 0.04% of other blockchains.
We have and are continuing to engage with many businesses and industries to combine forces and create innovative solutions to promote sustainability in many different forms. Our ambition is to become one of the most sustainable blockchain networks and ecosystems.
{% hint style="info" %} For a deeper understanding of our sustainability vision, please refer to our Whitepaper 3.0. {% endhint %}
Blockchain technology has the potential to contribute significantly to the sustainability revolution in several ways:
- Collective Governance & Decision-Making: Blockchain enables inclusive and transparent decision-making through decentralized autonomous organizations (DAOs). Instead of top down decisions, blockchains can offer more equitable decisions to questions that impact us all.
- Tokenisation & Incentivization: Blockchain allows for digital tokens representing assets like carbon credits, encouraging sustainable practices. The ability to configure financial incentives, big and small, will accelerate compliance by rewarding stakeholders.
- Transparency & Accountability: Blockchain's transparent and immutable nature allows for the creation of a tamper-proof and an auditable record of transactions and data. Ensuring communities and societies can guarantee all actors and stakeholders are contributing.
- Traceability: Blockchain enables end-to-end traceability, verifying the origin and sustainability of goods, combating issues like illegal logging and human rights abuses.
- Efficient Resource Management: Optimizes resource allocation and usage through smart contracts and decentralized applications, reducing waste and improving efficiency.
By leveraging these capabilities, VeChain is at the forefront of integrating blockchain technology with sustainability initiatives, driving meaningful change on a global scale.