The blockchain is a platform or a technology which helps to make a decentralised transactions between the parties. It is owned by no one, with a copy of it being stored on many personal computers around the world. Anyone can use it and help run the network. This often removes the need for middlemen and allows users to interact in a peer to peer way. It can also reduce transaction costs and increase efficiency. Because it is distributed, this kind of network is difficult to take down or corrupt.
1. Supply Chain Management
Most people want to buy products that are ethically made, but that kind of information is often unavailable and difficult to verify. A product goes through many hands before it reaches the store. Its very easy for companies to lie about how their products are made, what materials and chemicals they use, where they dump their garbage, or how fairly they treat their employees.
2. Recycling
With the current recycling programs, people often dont have good incentives to participate. The responsibility for running recycling programs often falls on each separate city, which results in many places not having recycling programs at all. Its also difficult to track and compare the impact of these programs.
3. Energy
Traditional power grids are centralized, which can create inefficiencies in energy distribution, like having unused surplus. And in parts of the world affected by natural disasters or poverty, power outages can leave people without access to electricity.
4. Environmental Treaties
In can be difficult to track the real impact of environmental treaties, and sometimes there isnt an incentive for governments or corporations to keep their promises. Fraud and manipulation of data are also problems in this area.