How we use blockchain to create a more sustainable world

Sustainability has been quite the buzzword over the past decade. It's often associated with environmental impact, carbon emissions or climate change. But a more holistic approach towards sustainability includes social aspects too, such as child labor and equal rights for women. The combination of social and environmental aspects, along with the commercial ones, form the basis for sustainable industries. We believe blockchain has the power to address these aspects and change them for the better.

How we use blockchain to improve sustainability in ecosystems

We believe sustainability is centred around adopting the most efficient use of available global resources by strengthening and harmonizing the triple bottom line: people, planet and profit.

Blockchain technology enables companies to collaborate based on sharing data, processes and self-executing business logic without the need for a single authority to ensure trust. Secure computations allow collaboration without even revealing the underlying data. By utilizing both shared and secured datasets of multiple parties across a value chain, companies can generate a more holistic insight of their business and entire industry. These insights can inform decisions around the most efficient use of resources.

Blockchain technology can be designed to provide enough trust and security to tackle the challenges around sustainable industry change.

Tine Bakia

Concept Designer at Kryha

At the same time, the transparent nature of blockchain allows tracking any value or asset a company creates. This makes it possible to hold companies accountable for their role in the ecosystem and society, strengthening the brands of companies that already showcase social and environmental responsibility.

Why we believe we can make a difference

There’s a growing consensus among companies regarding the performance-enhancing benefits of incorporating sustainability in their strategy. However, most companies are still struggling to trace, quantify and understand non-financial performance. It often requires all companies in a value chain to collaborate and share data, which can be challenging.

It is crucial to incentivize companies or stakeholders to convince them to share (confidential) data for the better. Blockchain technology can be designed to provide enough trust and security to tackle the challenge described above. We develop the ecosystems and digital tools needed to break down the data silos within companies and help them collaborate towards a more sustainable industry.