Solana Breakpoint Conference 2023 discusses blockchain's role in sustainable development

Image Courtesy: Solana

Blockchain technology is having a positive impact on sustainable development, and the Solana Breakpoint Conference 2023 in Amsterdam highlighted some of the most innovative projects in this space.

The conference featured a panel of three speakers involved in projects leveraging blockchain technology to meet sustainable development goals (SDGs). The panel also touched upon the need to create regenerative economies. 

One of the panellists was Simge Sandal, co-founder of GainForest- a blockchain-based initiative that incentivises local communities to monitor and preserve the natural environment.

GainForest uses smart contracts to allow private stakeholders to fund indigenous communities and forest conservation projects. When monitored milestones are achieved, the platform automatically unlocks donations to communities that have successfully maintained the ecosystems.

GainForest values transparency in its services which blockchain is able to offer. It thus helps make better decisions for achieving a regenerative economy.

Another panellist, James Bettauer, co-founder and CEO of ecoToken, underscored how their platform enables users to retire environmental credits directly on Solana and receive impact certificates and fungible credits.

The existing carbon credit system has a high entry barrier, making it difficult for smaller-scale projects and companies to access credits. Blockchain technology enables a “bottom-up” approach by empowering project developers to create credits and add new revenue streams.

Panellist Daniel Kelleher, the founder of Sunrise Stake, also expressed his belief that blockchain technology can empower regenerative economies with net positive effects on communities and the environment.

“Why is it a powerful tool for creating regenerative economies? Because we have this power of smart contracts. We have this power of programmable money. You can build the rules for an economy right down at the code and protocol levels,” he explained.

Sunrise Stake is a decentralised finance protocol built on Solana that allows users to stake SOL to receive green SOL (gSOL). These staking yields are then donated toward climate impact programs to offset carbon emissions. “We route some of our staking yield to different projects to ensure that we have a spread of climate impact, from offsetting carbon through projects like Toucan as well as ecoToken,” Kelleher elaborated.

The Solana Breakpoint conference event showcased the growing interest in using blockchain technology to develop a sustainable future.

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash