Blockchain technology could help boost global job creation

A report published by the World Economic Forum, or WEF, highlighted the critical role played by the technologies of the fourth industrial revolution. New technologies such as blockchain could help stimulate growth by implementing „nature-positive“ solutions in the post-COVID-19 era.

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According to the study „The Future of Nature and Business“ shared with Cointelegraph, nature-friendly solutions could have the capacity to create 395 million jobs and generate USD 10.1 billion in business opportunities by 2030.

Inger Andersen, UN Under-Secretary-General and Executive Director of the United Nations Environment Programme (UNEP), commented on this issue:

„As we enter a historic decade of action to halt and reverse biodiversity loss by 2030 and address climate change, business has a critical role to play in the environmental management of our planet. They have the technology, innovation and financing to make the relevant changes we need towards greater investment in nature’s infrastructure and nature-based solutions.

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Blockchain and the food supply chain
Blockchain technology could contribute to savings equivalent to USD 365 billion by reducing waste in the food supply chain.

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There are several pilot programmes launched in Benin, Ghana, India and Rwanda. Their results suggest that relatively low-cost storage techniques and handling practices can reduce post-harvest food loss by more than 60%. They can also increase the income of small farmers by more than 30%, according to the report.

One example that WEF presents in this study is the IBM Food Trust, this project has already begun to implement blockchain-based supply chains with partners such as Walmart, Tyson Foods, Nestle and others.

A billion dollar opportunity

The report explains that blockchain applications in the energy and mining supply chains could generate an opportunity worth USD 30 billion by 2030:

„Blockchain applications could grow rapidly over the next decade, particularly in precious gems, diamonds, tin, tungsten and cobalt (…) Economies of scale will allow companies to realize significant cost savings from initial blockchain investments, eliminating the need for costly material verification processes.

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The report points out that innovations such as additive manufacturing, precision forestry and Blockchain in energy and mining supply chains can enable a „nature-friendly“ pathway by supporting both value creation and conservation goals.

WEF encouraged the implementation of Crypto Wealth potential to help create USD 3.5 billion in value in energy and mining systems.