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How vechain can foster sustainability.
Anyone who wants to change the world for the better knows humanity’s greatest challenges will only be overcome by a collective global movement. We all must work together in ways previously unimagined to successfully combat climate change, address threats to the environment, bring equity to our societies and ensure companies act in the best interests of all stakeholders.
Taking on our world’s greatest sustainability challenges requires collaborative action. And so, our aspiration is clear: We seek to multiply individual impact to unleash our collective potential for sustainability.
Our overall goal is to enable people to engage with sustainability every day. We will do this by putting more power in people's hands to make impactful, informed decisions that influence the fundamental environmental and societal factors underpinning our existence as humans, such as access to healthy food, clean water, and fresh air.
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.
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.