Can cryptocurrency save the world?

While a twisted journey ripe with bad actors, cryptocurrencies have increased exponentially over the past few years. One can only surmise that something big is happening to weather the industry’s storms as more people become attuned to one of the next big technology evolutions – blockchain.

Sprouting as an underground phenomena amid a fringe set of geeks and gaming enthusiasts, we are now seeing a stampede, not just from the Silicon Valley elite fueling a growing market cap larger than a small country’s GDP, but globally from investors, individuals and even entire countries like Venezuela and El Salvador.

As part of this, nefarious actors have hacked, rug pulled and ponzi’d hundreds of trillions of dollars.  So the dream has gotten complicated. Many projects are now under SEC scrutiny to decide if they are a move to sell securities without compliance – which is illegal.  This does not look good for good projects.

There are plenty of examples heralding the opportunities of blockchain and apparently Refi is the next blockchain wave.

How can this save the world? How can we use decentralization with clean tech and environmental negative externalities?

Projects range from planting trees to trading carbon credits, to helping small farmers and fisherman sell peer to peer, establishing entirely new system financial based on impact,  to voting, identity, marketplaces, social networks and more.

To leverage these tools for climate, there are solid solutions rising to the occasion to solve some of the most complicated issues of the planet. Like BFlo technology in unifying sustainability information while providing reporting tools for United Nation Sustainability Development Goals (UNSDGs) , ESG and climate to connect impact to assets. The technology enables proof of reputation using the latest Web3 and is basically a paradigm shift. (Disclosure — we are building it as BFlo, an open source API being used to transact, tract and report these metrics).

As we saw with the Internet, we can’t imagine the ideas and solutions that will come from the imagination of collective creativity, nor the radical changes we are about to experience in automating solutions using AI and smart contracts. We can leverage this in many directions to create transparency and guide wise use of resources…hopefully in time.