How can blockchain be used to support sustainable business practices?
Answers
Answer:
Blockchain can enable Universal Basic Income through a system like Circles, or power local currencies like Colu. It can enable inclusive financial systems like Celo or provide universal access to cash with Cash App. It can also drive protection of environmental assets through systems such as Seeds or Regen Network.
Answer:
Blockchain can be used to track the origins of items and the social effects of supply chains, supporting sustainable business practises.
Explanation:
It is quite advantageous to apply blockchain technology in sustainable business. It encourages sustainability and ethical business practises throughout a company's supply chain. But first, let's define a blockchain so we can better grasp how businesses might use technology to improve sustainability.
A blockchain can be compared to a digital ledger of transactions. A blockchain keeps track of bitcoin and other cryptocurrency transactions. The network of computers connected to the blockchain uses the blockchain to duplicate and disseminate all transactions. A business network's assets are tracked by it. The acquisition may be material (such as real estate, a home, a car, etc.) or immaterial (copyrights, branding, intellectual property, etc.). Almost anything of value may be traded on a blockchain, which also keeps track of it.
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