Using DeFi to Solve Environmental Problems
According to the United Nations 2030 Agenda for Sustainable Development, the 17 Sustainable Development Goals (SDGs) demand nothing less than a complete transformation of the financial, economic, and political systems that govern our societies today in order to ensure that human rights are protected.
In a crisis situation, such as a pandemic, the agenda strongly suggests that recovery packages should promote a low-carbon, climate-resilient economy and universal access to high-quality public services. Leadership and support are also required to ensure that statistical organizations have the tools and resources they need to make timely and intelligent decisions.
Does it ring a bell?
The recommendations referred above just reminds every crypto enthusiast of the blockchain potential to be used in real life.
Blockchain technology brought to the present the possibility to a fully transparent financial system and Smart Contracts also contribute to use the technology in a more versatile way.
Initiatives like decentralized finance (DeFi) have the potential to act as a bridge to unlock digital asset services by combining the features of real-world assets and modern cryptocurrencies with speed, security, transparency and cost-savings for market participants as well as a fair distribution.
Regarding the environmental consciousness that we have nowadays, every crypto project must consider their impact on the environment and also how they can reduce it, using on their business models ways to contribute for sustainable initiatives with environmental positive impact.
DeFi solutions could provide a transparent and trustworthy way to show how nations are taking action to reduce their impact on the climate. It has also the ability to increase stakeholder involvement, transparency, and engagement, as well as build trust and promote new solutions in the battle against environmental threats.
If we do not change the perverse incentives built into existing financial systems, we will continue to devastate the planet in search of this fictitious wealth we call “money”.
In contrast to the majority of people’s thoughts, these technologies can be very helpful to the planet or even save it for all the main problems that we are facing such as wealth distribution, climate change, deforestation or even soil degradation.
We need platforms that strive to deliver on the ambition of making it easier for crypto firms to make the move to a more environmentally friendly path.
Just like Bancambios that aims to lead the industry towards: decentralization, transparency, environmental awareness, cross-chain interoperability, education and promotion of mass adoption.
Instead of banks growing rich on all the financial transactions, Bancambios puts some money back into environmental communities.
They are building a Multi-chain “eco-friendly” Open source impact tool that any DApp can implement to support a project that contributes to Biodiversity protection. A fraction of each transaction will be sent to selected partners who will run the environment initiatives.
Using the tool Bancambios is developing, every Centralized Financial Platforms such as Western Union, JP Morgan, Paypal, Etoro, among others can have access to a way to contribute to the environment on each transaction they make.
Now is the time to establish this kind of initiative as a standard for the financial ecosystem. Imagine the future of DeFi with mass adoption bringing so much value to these impact driven initiatives. It will be a KPI for every company and for every human being that will be on a better planet.
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