How Blockchain Technology Can Play a Role in Preserving Natural Capital

Blockchain and crypto are changing major industries around the world. From banking to supply chains, it revolutionizes several aspects across businesses and industries of all sizes. The crypto market which was only worth $1 billion almost a decade ago, has now exploded into a massive $2 trillion industry and what originated with the Bitcoin blockchain, has evolved into a full-fledged crypto ecosystem with over 18000 different projects. Blockchain solutions have emerged to solve real-world problems. And one of the critical issues they are solving is preserving Natural Capital by avoiding gold mining. Gold mining is known for being among the world’s most harmful industries. It displaces populations, taints drinking water, harms workers, and damages natural habitats. As a whole, gold mining has had such a negative influence that it is now jeopardizing people’s health and ecosystems globally. Gold Mining’s Devastating Environmental Effects Gold has been the most precious component of jewelry and a preferred mode of exchange for centuries. However, mining just one ounce of gold from ore can produce around 20 tons of solid waste. Most gold mining methods involve moving enormous amounts of dirt and rock, which is harmful to the biodiversity in the area. A mine’s daily activity can devastate wetlands and waterways. Similarly, the operation of massive fossil fuel-powered mining equipment results in immense greenhouse ...