Sustainability is one of the leading issues of the 21st century, and blockchain technology is one of its most significant inventions. Is there a way to leverage blockchain technology in pursuit of sustainability goals?
Jake Campton, communications lead and community advocate at VeChain, breaks this down in episode 51 of Cointelegraph’s Hashing It Out podcast with Elisha Owusu Akyaw. Campton explains how utilizing a Web3 incentive model could guide people toward a more sustainable way of life and highlights the challenges of bringing the two worlds together.
Campton explains how VeChain has managed to stay relevant across multiple cycles and believes that the growth can be attributed to working on real-world use cases and focusing on securing major partnerships, such as its partnership with Walmart, which has led to over 200 million transactions.
According to Campton, enterprises have a natural appetite to move to blockchain for more efficient data management, instantaneous supply chain tracking and auditing and adopting more sustainable practices. Despite the clear benefits, many enterprises are concerned about integrating blockchain technology because of hurdles like accounting and regulations.
Campton says: “This is another thing that VeChain has done really well is building solutions that allow the use of blockchain in a commercial environment because, for example, companies don’t want to handle crypto; they don’t want to. It creates a bit of an accounting nightmare, you know, managing crypto assets and especially where the regulations have been so unclear.”
Campton explains how blockchain technology can contribute to a more sustainable world, a belief that has led to the launch of VeChain’s VeBetterDAO. The new decentralized autonomous organization powers a decentralized application ecosystem that incentivizes sustainable activities like recycling and adopting practices that emit less carbon.
Campton argues that people need incentives to adopt sustainable practices that can easily be built with blockchain technology, borrowing from various gamification models in the Web3 space.
A large core developer team is actively working on porting over Ethereum toolkits to make it easier for developers who are used to building in the space to make applications for VeChain. What’s more, the network has created an application that allows users with no coding language to build decentralized applications.
Listen to the full episode of Hashing It Out on Spotify, Apple Podcasts or TuneIn, and remember to check out Cointelegraph’s growing catalog of Web3 podcasts.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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