As more enterprises want to claim to be environmentally responsible and accountable, the accuracy of carbon footprint data gathering is a growing cause of concern. Businesses are looking for new ways to efficiently verify their carbon footprint, says Bryan Daugherty, Bitcoin Association’s North America Manager.
Bryan recently launched a new initiative on the Bitcoin SV blockchain called Proof of ESG (environmental, social and corporate governance) also known as The ESG Timestamp Initiative. The company aims to “reimagine ESG reporting and impact through strategic blockchain reinvention and business transformation.”
Figures quoted by Bryan show a significant carbon footprint for each BSV transaction, but he argues that this will decrease as more people start to utilize blockchain. Until then, he puts focus on the developments in enterprise efficiencies that have been achieved with blockchain.
He points to companies like MetaStreme and WeatherSV that have collected immutable data utilizing blockchain technology, saying that blockchain allows people to make informed choices. “As we go into this next industrial revolution utilizing blockchain, it really does provide this foundation for not just efficiency and utility but to authenticate this data and break down these data silos and integrate a lot of more information where you can make better decisions.”
The Proof of ESG founder talks about a partnership with Pure Shenandoah, a company based in Virginia that grows hemp and produces CBD and sustainable products. Individuals who wish to reduce their carbon footprint can purchase an NFT called ‘hash power up’ from M.R. Megawatt and Friends, a sustainable gaming and sustainable NFT platform. That allows an individual to own a small plot or a few hemp plants from Pure Shenandoah which farmers can grow the next season. As he explains, per season, crops produce an average of 1.2 tons of carbon sequestering per acre. This allows any individual to participate and contribute to carbon sequestering through NFTs.
Individuals will also be given the opportunity to be incentivized by playing a game on the M.R. Megawatt and Friends platform. And just like Haste, players on the leaderboard will get a chance to earn micropayments back. But unlike Haste, the game comes with an environmental incentive: eighty five percent of its fees will go to Pure Shenandoah enabling its farmers to plant more hemp.
On this episode of CoinGeek Conversations, Bryan explains to Charles Miller how blockchain can assure companies that data is authenticated, honest and reliable. But what about the accuracy of the data going into the blockchain system? Bryan explains how IOT devices can be used for data gathering. “We're using everything from drones and cameras and atmospheric measuring devices. Once you're getting this data, it's a matter of utilizing it as well. And that's where blockchain also comes in because it's not just the events streaming or the storage, but it's also the computational power of this distributed small world network that you can start to use all sorts of cool analysis and metrics.”
Bryan has also recently been appointed as a subject matter expert to the Cybersecurity and Information Systems Information Analysis Centre (CSIAC), a component of the United States Department of Defense’s Information Analysis Centre enterprise. Bryan describe the CSIAC as “a group that facilitates some of the communication and research into emerging technologies across the Department of Defense and&