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Wang Shi advocates blockchain utilization to attain carbon-neutral communities

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Wang Shi advocates blockchain utilization to attain carbon-neutral communities

According to reports, the 23rd annual meeting of the Yabuli China Entrepreneurs Forum in 2023 was held from March 17-19. At the “Data Economy and Data Governance” sub forum held on the afternoon of the 18th, Wang Shi, the founder of Vanke Group, stated that carbon neutral communities are divided into three parts, one of which involves carbon sink resource management. To achieve management objectives, blockchain technology needs to be used.

Wang Shi Talks about Blockchain Technology: Must Be Integrated with the Real Economy

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Entrepreneur Wang Shi, the founder of Vanke Group, emphasized the necessity of utilizing blockchain technology to attain carbon-neutral communities. His statement was unveiled at the Yabuli China Entrepreneurs Forum’s 23rd annual meeting that took place from March 17-19, 2023. During the “Data Economy and Data Governance” sub-forum held on the 18th of March, Wang Shi suggested that achieving carbon-neutral communities entails three primary components, one of which is carbon sink resource management. This function is where the critical role of blockchain technology comes in.

Carbon-neutral communities refer to communities that offset any carbon emissions that may arise as a result of human activities. Carbon sink resource management involves incorporating elements that sequester carbon dioxide. Examples of carbon sinks include oceans, forests, and grasslands. In contrast, sources such as industrial factories and vehicles produce carbon dioxide, contributing to environmental pollution.

Blockchain technology has increasingly been used to facilitate the transformation of traditional business models. In the context of carbon-neutral communities, it could be used to help individuals and businesses track their carbon footprint. Carbon credits could also be applied to reward those who participate in environmental conservation activities that decrease carbon footprints, as well as penalizing those who contribute to pollution.

There are also possibilities to integrate blockchain with IoT devices to track carbon emissions, and then offer a platform for companies to offset the carbon they create. As a result, industries will be able to support the communities that offer sequestering options, such as those focused on afforestation.

In conclusion, carbon-neutral communities are critical in preventing climate change’s adverse effects. The use of blockchain technology will aid in carbon sink resource management, which is vital in achieving this objective. Carbon credits, tracking devices, shared information, and distributed systems can all be used to incentivize the preservation of the ecosystem. The applications of blockchain technology can indeed have a significant impact on future environmental conservation efforts.

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