Blockchain Tech Is Key to Combating Climate Change

Sani Abdul-Jabbar
5 min readJul 25, 2022

Blockchain technology will be instrumental in mitigating climate change by providing clean energy solutions and allowing for more sophisticated automation.

The energy sector may boost the efficiency of clean energy investments by adopting blockchain technologies. This would almost certainly result in additional capital going to green investment prospects and more transparency and responsibility when it comes to fulfilling climate-friendly obligations. Hybrid smart contracts are touted as the new backend architecture required to create clean energy solutions. The structure utilizes blockchains to keep track of and settle multi-party transactions, and smart contracts to lay out the terms for all parties. All data and non-blockchain infrastructure can be integrated into the contracts utilizing oracles — interoperability solutions for blockchains built on smart contracts. Smart contracts may be used to assist energy businesses hedge power demand and revenue fluctuations around changing temperatures using Ethereum-based climate risk mitigation platforms.

As more and more businesses realize how blockchains, smart contracts, oracles, and other technologies may help combat climate change, we’ll see a pattern emerge over time until it becomes industry standard. Clean energy sector leaders must now devote resources to studying the advantages of blockchain technology and how they may be utilized before rivals in order to keep up.

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Will Rising Interest Rates Sink the Crypto Ecosystem?

The interest rates throughout the U.S. economy are gradually rising — and in some cases, dramatically.

The rates have a significant influence on borrowers, but they also provide greater returns for lenders, particularly in some fairly safe assets. The race for capital, in addition to other factors, has already inflicted critical damage on speculative assets such as equities in “growth” technology firms. While some cryptocurrencies appear to be holding up surprisingly well by certain indicators, it is dogged by a mysterious dark horse.

Interest rates are already influencing the risk-reward equation for investors, particularly large ones such as hedge funds. It’s a tough evaluation since a “safe” investment like a bond may attract additional cash that would otherwise have gone to a higher return but also a higher-risk asset. The vast majority of cryptocurrencies and other token assets fall into the high-risk category.

For now, optimism may be keeping crypto afloat through the significant interest rate change. However, hope has its limits, and there are substantial tail risks that subsequent drawdowns might become considerably more severe. In particular, staking and yield pools frequently back other items that would deteriorate in value if competition took capital away.

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Can You Truly Own Anything In the Metaverse?

Ownership in the metaverse is not the same as ownership in the real world, and consumers are at risk of being defrauded.

The dominant, but legally questionable narrative among cryptocurrency enthusiasts is that NFTs provide genuine ownership of digital assets in the metaverse due to decentralization and interoperability. Some people have stated that tokens provide indisputable proof of ownership, which may be utilized across various metaverse apps, environments, and games because of these two technological features. Because it is decentralized, some people believe you may buy and sell virtual goods on the blockchain itself for whatever price you desire, without asking anyone’s permission or approval. Despite these allegations, the legal status of virtual “owners” is quite more convoluted. The current ownership of metaverse assets isn’t governed by property law at all; it’s governed instead by contract law. However, you must agree to the platform’s terms of service and usage, or end-user license agreement upon joining a metaverse platform.

Users should be aware that many metaverse platforms have the ability to amend their terms of service at any time with little or no notice. This implies that users would need to keep refreshing and rereading the terms to ensure they do not engage in any recently prohibited action, which might lead to the forfeiture of their “purchased” assets or even their entire accounts. In the metaverse, technology alone will not be enough to bring about genuine digital asset ownership. NFTs can’t escape the centralized control that modern metaverse platforms have and would continue to maintain under their Terms of Service. Ultimately, legal reform alongside technological development is required before the metaverse may mature into what it promises.

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Click, Click, Close: How Web3 Is Re-Engineering Real Estate

It’s time. With a couple of clicks, Web3 technology can now help you complete the transfer of ownership for real estate assets in a faster, simpler, and more secure manner. For over a decade everyone involved in real estate transactions — the buyers, sellers, and agents — have desired this change to come about!

The world’s third NFT property sale took place in Tampa, Florida. This most recent sale was one-of-a-kind since it accepted USDC rather than Ether, and the ownership was settled through Web3. As it occurred after the last two NFT sales, it was hard for people to believe how fast the buyers became owners. With all of the paperwork completed ahead of time for due diligence, all that was left now was to obtain the code for the smart lock, which would allow the buyer access to the key.

No hustle. Entirely secure, quick, and painless experience. A person becomes the owner of a house simply by a couple of clicks on the front end linked to smart contracts, with ownership legally de-attached from county recording and now residing on-chain. This property sale has now been permanently recorded on a public blockchain. While Ethereum is accessible, no one can modify or delete this evidence, and the NFT may be transferred to other users. It’s also possible on any other decentralized blockchain.

People may now picture a future in which Web3 (which includes NFTs, smart contracts, and blockchain) will completely change how houses are bought and sold. They allow transactions to be done entirely online, resulting in more efficient, automated, and less-expensive transactions. All aspects of the sale are completed on a secure platform that provides transparency for all parties.

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Even In Crypto, Trust Matters

In the cryptocurrency industry, “trustlessness” is a technical term of art that has been widely misunderstood as implying moral license, with the impression that anything goes given blockchain protects you from bad actors. It’s even found its way into the preposterous notion that it’s acceptable if your project is being run by notorious criminals.

The fact is that in crypto development and investment, people arguably matter more than they do in more formal or conventional settings. Open leadership structures allow Machiavellian personalities to sow mistrust and put their own interests before the project’s. In fields where there is a lot more room for individuals to offer bad ideas to misinformed and greedy audiences, without consciously straddling the line between failure and fraud.

Technological bells and whistles are frequently a ruse intended to divert investors’ attention away from the project’s actual aims. Understanding the technical or financial claims being made by a new initiative is sometimes less significant than getting acquainted with the personalities behind it, their character, their past conduct, and their present goals.

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Sani Abdul-Jabbar

Sani is the Board chair at VezTek, a Los Angeles based provider of software development and on-demand tech. talent for Blockchain and Web3.0 initiatives.