Force insight | Web3 Global Sustainable Blockchain Summit Highlights Wrap Up

The Sustainable Blockchain Summit has been held in Paris on July 22–23, 2022 to explore and develop projects that better integrate the global economy with the natural environment and contribute to making our world a more livable place.

What the Big Guys Said

1. Priorities for Green PublicGoods Builders in 2022 — Juan Benet

Juan shared the examples of building public goods such as CryptoEconomics in 2022 in addition to establishing carbon credits, and other green and environmental protection. With the advancement of powerful ML and AI technologies, the gradual mainstreaming of Web3/encryption, and the significant impact of climate change since this decade, we should look at the next decade of Web3 positively. This is a critical year for Web3, and we are experiencing.

· 10,000+ scientists and builders around the world

· 1 to 3 trillion in resources

· Rapid growth in public goods

· The current depressed economic environment

Against this backdrop, blockchain and Web3 can be used to upgrade existing carbon credit systems, improve verifiability and greener carbon credits, create REC certificates, conduct more green grants and leverage other funding allocations to expand the share of public goods.

2. Opening Keynote — Filecoingreen Lead | Alan Ransil

Since the pre-industrial era, the world has been caught up in a warming process, with industrial emissions warming the atmosphere by about 1.1 degrees Celsius from the 19th century to the present, and two-thirds of the increase in global average temperature occurring in recent decades, which is critical for both agriculture and human survival. We need to rely on the power of Web3 to expand the scope and boundaries of our efforts for the environment. web3 and blockchain technology are of great significance to the complex engineering of emissions accounting, which no longer requires auditors to spend months to complete.

Compared to data centers worldwide, 0.87% of data center storage capacity is currently on Filecoin, while energy use generated by Fileoin represents 0.67% of data centers. The Renewable Energy Marketplace allows node operators to purchase renewable energy from local producers and to be able to track and tag it in their data dashboards, rebuilding the global carbon accounting system and thus reducing carbon emissions content for environmental protection purposes.

3. Decarbonizing Supply Chains — Charles Cannon and Linda Jirouskova

Regarding blockchain in supply chain decarbonization in industry, its role can be in the visibility, transparency and accountability of carbon emissions. If current carbon emissions trajectories are followed, by 2050.

· There will be more than 140 million climate migrants globally, half of them in sub-Saharan Africa.

· Sea level rise displacing populations and destroying farmland and all infrastructure.

· About 250,000 additional climate-related deaths per year in 2030.

Whereas carbon emissions are a critical player in the supply chain of industrial sectors, where 30% of global carbon emissions come from heavy industry, these companies may have relatively clear carbon emission standards for their final links, but not measurable and controllable carbon emissions at various points in the supply chain. This is due to first, the lack of primary data available for calculation and estimation; second, complex supply chain relationships; and third, static accounting methods and manual calculations.

RMI’s HZS (Horizon Zero Solutions) system would address the inability of companies to accurately measure emissions data and trajectory processes to create a climate differentiated market. the HZS system would create an accounting framework for supply chain markets to drive emissions reductions and apply emissions reporting to key industry sectors.

There are currently 3 risks: first is how we can encourage more people to use this new technology; second such a cryptography-centric business model based on the development and advancement of blockchain technology; and finally, how to use these emissions reports when Web3 and blockchain technology is not the best solution is also to be explored.

4. UN Climate Change Global Innovation Hub — Alex Paris

Now that a new technological era is dawning, one of great opportunity and new risks to global peace, stability and development, we must figure out the question: What kind of world do we want to leave for our children?

Beyond the treaty we have signed — to peak global greenhouse gas emissions as soon as possible and to reduce them rapidly thereafter based on the best available science. Perhaps starting now, we can.

· Clearly measure the impact of climate action

· Design incentives

· Leverage innovative technologies for climate action

Accelerating, encouraging and enabling innovation is critical to an effective and long-term global response to climate change and to promoting economic growth and sustainable development. airCarbon Exchange is a global carbon exchange that uses distributed technology in traditional trading to create securitized carbon credits using blockchain architecture.

These are the highlights of the just-past Sustainable Blockchain Summit, thanks for reading!

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