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The Blockchain Technology Sought by the UN as Climate Crisis Fighting Tool

It has been almost a decade since the regulatory authorities and governments have been grilling the cryptocurrency industry for its unregulated nature. The cryptocurrency industry’s decentralized and unregulated nature is always criticized by governments from around the globe.

However, they make a huge mistake by not recognizing the potential and technological advancement that cryptocurrency technology has to offer.

Amid all the regulatory criticism and grinding, the United Nations seems to have recognized the true potential of cryptocurrency technology. While the world and institutional investors are criticizing Bitcoin for its carbon footprint, the UN is somewhat supporting the technology.

As per the United Nations, the technology offered by the cryptocurrency industry holds a lot of potentials. They have stated that the world can make great use of the technology offered by the crypto-blockchain sector to deal with climate change.

It is the technology with the potential of fixing global issues and bringing an end to concerns such as climate change and global pollution.

The UN officials have stated that they are confident that blockchain technology would play a key role in solving the biggest global issues and concerns. Therefore, they will continue exploring the technology as much as they can in order to learn from it and gather more information about it.

Blockchain technology would prove to be the ultimate solution to the climate crisis. The technology would not only be limited to dealing with the climate crises, but it would also offer more opportunities for a sustainable global economy.

The United Nations has even shared the particular information through its website. The statement supporting the existence and adoption of blockchain technology was published on the UN’s website on Sunday, June 27, 2021.

On the website, the experts at the United Nations have shared their confidence and trust in blockchain technology. They have stated that the adoption and venturing through blockchain technology would help them improve their environmental stewardship.

The UN experts have also shared the sectors where they will be exploring and adopting blockchain technology. They have claimed that blockchain technology would ensure complete resistance and transparency to clean energy markets, climate finance, and fraud.

The website also provides details about the partnership that the United Nations has formed with the Technical University of Denmark. The reason behind the UN’s partnership with the particular university is the Environment Programme that the UN is currently managing.

The UN experts have talked about the particular Environment Programme and the lack of data and its unreliability in terms of harmful effects of greenhouse gas emissions in many countries.

The UN experts have stated that with blockchain technology, they would be able to collect all the data in terms of the Environment Programme. The technology would provide transparency in the program and they will be able to take the right actions to help save the world from climate changes.

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