The World Economic Forum found more than 65 use cases for blockchain implementation. The technology may contribute to solving environmental problems.

The World Economic Forum published a report, which lists more than 65 cases of blockchain use to address the most crucial environmental issues. In a report titled 'Building Block(chain)s for a Better Planet', the WEF singled out dozens of blockchain-based applications that can be used to solve environmental problems.

Among the possible applications, the WEF enlists blockchain platforms for peer-to-peer electricity trading using smart contracts, services for tracking the supply chain, and greenhouse gas monitoring. In addition, the WEF sees potential in launching crowdsales to finance green energy projects and charity programs for biodiversity conservation.

"Decentralized and sustainable resource management: blockchain can underpin a transition to decentralized utility systems at scale. Platforms could collate distributed data on resources (e.g. household-level water and energy data from smart sensors) to end the current asymmetry of information that exists between stakeholders, enabling more informed – and even decentralized – decision-making regarding system design and management of resources. This could include peer-to-peer transactions, dynamic pricing and optimal demand-supply balancing."

According to the WEF, these initiatives are able to introduce new financing models in the sphere of environmental protection, realize natural capital and improve the effectiveness of interaction between various organizations and people.

However, the WEF mentions also the risks associated with the blockchain technology.

"Despite this hype, it remains a nascent technology with considerable challenges that need to be overcome, from user trust and adoption through to technology barriers (including interoperability and scalability), security risks, legal and regulatory challenges, and blockchain’s current energy consumption."