Experts meeting at the recent UN Climate Change Conference in Bonn in May have said that a new technology called “Blockchain” could play a major role in tackling climate change.

A Blockchain is a distributed database that is continuously updated and verified by its users. Each added block of data is “chained” and becomes part of a growing list of records, under the surveillance of network members. This technology enables the transfer of assets and the recording of transactions through a secure database.

“As countries, regions, cities and businesses work to rapidly implement the Paris Climate Change Agreement, they need to make use of all innovative and cutting-edge technologies available. Blockchain could contribute to greater stakeholder involvement, transparency and engagement and help bring   trust and further innovative solutions in the fight against climate change, leading to enhanced climate actions,” said Alexandre Gellert Paris, Associate Programme Officer at the UNFCCC.

Blockchain technology can be used to develop peer-to-peer trade of clean energy, for certified and facilitated transactions among consumers.

Read the full article here: UNFCCC. 2017. Blockchain Technology Can Boost Climate Action: UNFCCC Recognizes Potential. United Nations Framework Convention on Climate Change. 1 June 2017.