Conversations on sustainability have increased recently, and for a good reason. The world is currently facing a severe climate change crisis. For instance, the Middle East has been experiencing constant droughts caused by climate change. These droughts have affected food production for many countries in the region.
Expectedly, climate change has become the center of attention for national and international policies. More countries are establishing sustainability goals. For instance, Saudi Arabia recently announced its goal to reach net zero by 2060. Companies have also joined the sustainability race, with big players like Microsoft committing to net zero emissions by 2030.
However, while these goals are undoubtedly commendable, the road to achieving them is not exactly rosy. Many countries, particularly in the developing world, have struggled with meeting their sustainability goals and enhancing their resilience to climate change.
Thus, this article will discuss how crypto transformation can help countries achieve their sustainability goals.
Crypto Transformation and Sustainability
Crypto’s potential is far beyond its position as an investment asset. It has the potential to contribute immensely to the sustainability drive. Some significant ways the crypto transformation can promote the achievement of sustainability goals include:
1. Crop Insurance: One of the primary sustainable development goals is food security. However, with the current droughts and floods experienced due to climate change, farmers have found it difficult to recoup their losses and continue their businesses. Cryptocurrency offers a solid pathway towards crop insurance. With automatic payouts built into smart contracts, farmers can evade climate risk and manage harvest losses. This way, farming will continue, and a consistent food supply channel will exist.
2. Supply Chain Sustainability: The sustainability of the supply chain is particularly vital because of its far-reaching effects. It covers all environmental concerns throughout a product’s journey through the supply chain. More so, it reduces environmental issues like environmental degradation, deforestation, and greenhouse gas emissions. Crypto enhances supply chain sustainability through blockchain integration. With blockchain integration, companies can ensure product traceability across the supply chain and easily detect practices that do not comply with environmental standards.
3. Green Energy: Green energy is one of the major gateways to sustainability. This is because energy usage is one of the primary sources of carbon emissions. Crypto contributes to energy decarbonisation through green cryptocurrencies. Green cryptocurrencies are crypto assets that are energy efficient and less carbon-intensive. Examples of green cryptocurrencies include Nano and Cardano. These crypto assets reduce the carbon volumes ordinarily emitted during crypto mining, thereby supporting sustainability.
4. Financial Inclusion: Poverty reduction is at the forefront of sustainability goals for many countries. Companies have also become highly conscious of the social impact of their operations. However, crypto transformation equally has a vital role in driving poverty reduction as a sustainability goal. Apart from the fact that crypto has enhanced financial freedom for many people, it has also increased financial inclusion through DeFi products. The ripple effect of this is that more people will be able to access the requisite financial services to lift them out of poverty.
Conclusion
Crypto is undoubtedly a revolutionary technology, and its applicability also extends to sustainability. As the sustainability drive continues to expand, companies and governments could explore the option of utilising cryptocurrencies to meet their sustainability goals.

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