Recent media attention surrounding the surge (and drop, and surge) of Bitcoin price, and the proliferation of non-fungible tokens (unique cryptographic tokens) highlight just two of numerous applications of blockchain.
This distributed ledger technology has also attracted attention in the sustainability space – in negative terms owing to the enormous electricity consumption of certain uses, and at the same time, its potential in the reverse: to provide energy solutions, to increase energy and cost efficiencies by streamlining transactions, and to create purpose-driven tokens to incentivise sustainability-conscious behaviour. One of the most promising applications of the technology for sustainability, currently piloted by a handful of multinationals working in partnerships, is to address supply chain challenges.
