This article was written by Urszula McCormack, Leonie Tear and Nikita Ajwani.
Many headlines would have you believe that blockchain and sustainability are something of an oxymoron. It is undeniable that certain consensus protocols may consume a significant amount of energy and can therefore have a large environmental footprint if improperly executed.
However, the applications of blockchain technology go far beyond its use as the technology underpinning virtual assets. Its transparent, immutable and decentralised design lends itself to countless benefits, including its contribution to building a greener, more sustainable future in finance.
In this article, we explore how blockchain in finance can contribute towards achieving the United Nations’ sustainable development goals.