World Economic Forum “Block Chain has global environmental problems … “

The World Economic Forum WEF issued a report on September 14, titled Building Blocks for a Better Planet. This report introduces more than 65 block chain applications to solve the most pressing environmental problems.

The report deals with a new financial model for environmental performance, an efficient and clean distribution system for the non-financial value and natural realization of capital, and says it can further improve environmental protection by using block chains. In addition to the potential for improving existing processes, the new block-chain solution addresses the possibility of a game changer that is expected to completely change the way it manages major environmental issues. If such a new block-chain solution emerges, it will be a transparent supply chain, distributed energy, water management systems, sustainable funding sources, and carbon markets.

The report also points out that it is important to establish a responsible global block-chain ecosystem, rather than funding specific individual projects as an important step in the introduction of block-chained applications for environmental protection.

The report points out that the industry is using excessive block chains, like drug addiction. To solve these problems, we recommend three checklists for starting a business related to the block chain. First, whether technology can solve a specific problem. The following is whether the risk of unintended consequences can be managed within acceptable limits. The final question is whether stakeholders can use a functional ecosystem.

The World Economic Forum on September 13 also published a joint report that Distributed ledger technology (DLT) could generate $ 1 trillion in trade finance over the next decade. The report notes that the adoption of DLT by the European Union and other government agencies will be inevitable.

The report, titled Trade Technology – a new era of trade and supply chain finance, assesses the prospects for DLT in the global trade finance sector. Accordingly, it is clear that the decentralized capital and technological innovation will bring about cost reduction and convenience, and that the trade supply chain financing will develop dramatically.

In the trade finance industry, dependence on existing technology is moving toward becoming more efficient through block chains. The World Economic Forum predicted that the introduction of decentralization will increase new transactions and present a difference of more than $ 1.5 trillion from current trade finance. 30% of the new deals, or $ 1.11 trillion, will come from the disappearance of barriers by diversification targets, and 40% of existing transactions, or $ 0.9 trillion, will be converted to decentralized capital, which will reduce costs while improving service quality. For more information, please click here .