The issue of sustainability is a significant concern in the 21st century, and blockchain technology has emerged as a groundbreaking innovation in addressing this challenge. Can blockchain technology be harnessed to support sustainability goals? In episode 51 of Cointelegraph’s podcast, “Hashing It Out,” Jake Campton, the communications lead and community advocate at VeChain, explores this question with Elisha Owusu Akyaw. Campton delves into how a Web3 incentive model could guide individuals towards a more sustainable way of life and highlights the obstacles in merging these two worlds.
Campton emphasizes VeChain’s ability to remain relevant across various cycles, attributing this success to its focus on real-world applications and the establishment of significant partnerships, including the collaboration with Walmart, which has resulted in over 200 million transactions.
Enterprises naturally have an inclination to adopt blockchain technology for more efficient data management, real-time supply chain tracking, and auditing, as well as for implementing sustainable practices. However, despite the evident benefits, many companies hesitate to integrate blockchain technology due to concerns about accounting and regulations.
Campton states, “VeChain has excelled in building solutions that enable the use of blockchain in a commercial environment. For instance, companies do not want to handle cryptocurrencies due to the accounting challenges and the uncertainty surrounding regulations.”
Furthermore, Campton explains how blockchain technology can contribute to a more sustainable world, highlighting the launch of VeChain’s VeBetterDAO. This decentralized autonomous organization powers a decentralized application ecosystem that incentivizes sustainable activities like recycling and the adoption of low-carbon practices. Campton argues that people need incentives to embrace sustainable practices, and blockchain technology can facilitate this by drawing inspiration from various gamification models in the Web3 space.
VeChain has a dedicated team of core developers actively working on transitioning Ethereum toolkits to enhance the experience for developers familiar with building in this domain and creating an application that allows non-programmers to build decentralized applications.
To gain comprehensive insights, listen to the full episode of “Hashing It Out” on Spotify, Apple Podcasts, or TuneIn, and explore Cointelegraph’s diverse collection of Web3 podcasts.
Please note that this article is intended for general informational purposes only and should not be construed as legal or investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views and opinions of Cointelegraph.