Blockchain is an integral part of the solution we are building with Bluenote. What used to be thought of as a piece of technology that is tied to bitcoin, has now caught on across multiple industries including insurance, real estate and more. And then there is climate change. Yes, climate change. It’s not the first sector that springs to mind — but let us take a few minutes to explain very clearly why we believe that blockchain is a game-changer for climate change and the Bluenote system that we are building.
Several aspects of blockchain make it stand out as a new and revolutionary solution to age-old (and several new) problems.
As the tech behind bitcoin, blockchain was designed to provide an “open look” at transactions and data linked to those transactions. This creates a transparency among all parties who are involved.
The hashing feature — by which data stored in the blocks — is linked from one to the other, means that there is no tampering possible — no “fudging the numbers” so to speak.
While it is not without its exploits when coupled with other technical tools, the consensus aspect of the blockchain makes it secure in a unique way.
Ethereum smart contracts — and similar self-executing contracts on other blockchains — provide a level of automation that can draw information from multiple sources and execute processes all without human intervention.
So how do these characteris add value to the Bluenote solution to build a zero emission world?
First of all, it should be noted that the vision of a “Blue world” [link here to Blue foundation post] is not something that can be realized by one single person or organization. By its very nature, the eliminating carbon emissions and taking action to preserve the environment is a collaborative task.
For too long, we have talked about curbing climate change and growing a thriving economy at the same time. Now two years after COP21 — governments and institutions aren’t moving fast enough to make a real impact.
Why not? Getting so many people (hopefully all or nearly all) to work together requires:
Let’s take those three points one-by-one — as they pertain to Bluenote.
1. No intermediary
The Bluenote protocol for data analysis will not be in the hands of any one person or organization. It is designed as an open-source protocol open to multiple sources of data and offers access to everyone.
2. Verification of actions
In order to create a model that encourages “Blue living” and incentivizes improvements in — for example — commercial real estate to reduce emissions, there needs to be trust. And a (non) paper trail. Blockchain provides the perfect technology for recording and notarizing IoT data from the buildings using the Bluenote system.
3. A mechanism for rewards
Changing behaviors is hard — which is why there needs to be rewards. The Bluenote token will provide this incentive and will work as part of the system to create a sustainable ecosystem to financially drive the movement forward.
To say it once again — climate change….real change driven by real people — is a distributed problem. It involves you — it involves me — it involves next generations. Ultimately it involves every person on the face of the earth.
And that makes it a distributed problem.
Bluenote is a distributed solution.