️Decentralized solutions for climate change are key

Recycling is one sector where blockchain can encourage participation by giving a financial reward for depositing recyclables like plastic containers, cans, or bottles.

Plastiks is a nonfungible token (NFT) marketplace that sponsors initiatives to cut down on plastic waste.

📌Carbon markets and how they work

A carbon credit represents one metric ton of carbon dioxide, which can be bought, sold or retired. The company may trade, sell or store the extra carbon credits if it emits fewer tons of carbon dioxide than it is allowed.

📌Problems with carbon credits

Carbon credit markets are ridden by poor offset quality, where certain credits might not be of the same quality as marketed and some are outdated and no longer meet the standards of top carbon offset certification organizations.

📌How blockchain can help

There have been significant advances in computational technology within the blockchain realm that can enhance the efficiency of these carbon markets. Blockchain tech can aid in the process of credit creation and validation.