In the 21st century, sustainability has emerged as a key concern, and blockchain technology stands out as one of the most important innovations in this field. Can we harness the power of blockchain to achieve our sustainability goals?
Jake Campton, the communications lead and community advocate at VeChain, delves into this topic in episode 51 of Cointelegraph’s podcast, Hashing It Out, with Elisha Owusu Akyaw. Campton explores how implementing a Web3 incentive model could guide individuals towards a more sustainable way of life, while also highlighting the challenges of merging these two worlds.
Campton emphasizes VeChain’s ability to remain relevant through multiple cycles, attributing its growth to working on practical real-world applications and establishing key partnerships, such as the one with Walmart that has resulted in over 200 million transactions.
According to Campton, businesses naturally have a desire to transition to blockchain for more efficient data management, instantaneous supply chain tracking and auditing, and the adoption of sustainable practices. Despite these clear advantages, many enterprises are hesitant to integrate blockchain technology due to obstacles like accounting and regulations.
Campton states, “VeChain has excelled in building solutions that facilitate the use of blockchain in a commercial environment because companies, for instance, do not want to deal with cryptocurrencies. It creates accounting challenges, especially when regulations are unclear.”
Campton outlines how blockchain technology can contribute to a more sustainable world, which has led to the launch of VeChain’s VeBetterDAO. This decentralized autonomous organization powers a decentralized application ecosystem that incentivizes sustainable activities like recycling and adopting low-carbon practices.
Campton argues that people require incentives to embrace sustainable practices, and blockchain technology can easily facilitate this by drawing on various gamification models in the Web3 space.
To make it easier for developers who are accustomed to building applications in the Ethereum space, VeChain’s large core development team is actively working on porting over Ethereum toolkits. Additionally, the network has developed an application that allows non-coders to build decentralized applications.
To gain a comprehensive understanding of this topic, listen to the full episode of Hashing It Out on Spotify, Apple Podcasts, or TuneIn. Don’t forget to explore Cointelegraph’s expanding collection of Web3 podcasts.
Please note that this article is intended for informational purposes only and should not be considered legal or investment advice. The opinions expressed here belong solely to the author and do not necessarily reflect the views and opinions of Cointelegraph.
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