Can blockchains help companies go green?
Blockchain, as one of the most secure data storage technologies known today, can significantly improve the transparency of supply chains, making the environmental protection efforts of manufacturers transparent. With its help, personal data can be stored more securely than anything else, but it can also play a role in the direct sale of green energy produced in households. 3 employees of the Hungarian BDO, Zsófia Reizinger, Dániel Kemp and Bence Bárány, summarized the information related to the topic.
Most people have only heard of blockchain because of cryptocurrencies, even though the technology is useful in countless areas of use. It solves many serious problems of companies and government agencies, including the proper handling of data shared on networks. Whether it’s financial services using secure payment protocols, official bodies handling citizen data, or businesses looking to improve supply chain transparency, blockchain technology offers many opportunities for all of them because it’s essentially “just” a shared and synchronized database.
The first blockchains operating on a PoW (Proof of Work) basis were not only slow, but also had an amazingly large ecological footprint, which exceeded the annual energy consumption of Argentina in 2021, while each, e.g. A Bitcoin transaction produces 300 grams of waste from the wear and tear of computer parts. Primarily because of this, the well-known PoS (Proof of Stake) method has now spread, whose ecological footprint can be measured in thousandths compared to PoW.
BDO
Related news
Due to the risks, more and more companies are introducing policies for the use of artificial intelligence in the workplace
Assistive services using artificial intelligence (AI) (for example, various chatbots)…
Read more >BDO: The European Commission’s proposals regarding the EU customs reform
The proposals of the EU customs reform include the creation…
Read more >The latest EPR regulations have arrived, which affects everyone!
Sorry, this entry is only available in HU.
Read more >Related news
Hungary has plenty of work to do in the regional “long-distance running”
Based on the ten- and twenty-year trends – one of…
Read more >Consumers hate “dynamic pricing”.
In the past period, customers had to familiarize themselves with…
Read more >NGM State Secretary: the ESG Act strengthens the competitiveness of Hungarian businesses
The aim of the law defining the framework for responsible…
Read more >