Green Energy, Emissions, and Blockchain Technology
Tony Erwin and
Baozhong Yang ()
Additional contact information
Tony Erwin: J. Mack Robinson College of Business, Georgia State University
Baozhong Yang: J. Mack Robinson College of Business, Georgia State University
Chapter Chapter 3 in Fintech and Sustainability, 2023, pp 29-51 from Springer
Abstract:
Abstract In this chapter, we investigate and review how blockchain technology can facilitate and accelerate sustainable development by adopting renewable and clean energy and reducing greenhouse gas emissions. We first review the fundamentals and unique features of blockchain technology, such as immutability and transparency, and its applications in tackling challenging problems in a wide range of industries. We then examine the potential applications of blockchain solutions in the environmental ecosystem. We review and describe potential solutions and use cases, including secure green energy trading, green energy as digital assets, efficient tracking and reporting of CO2 and air pollution reduction, efficient tracking and reporting of sustainable energy creation, and ESG compliance methodologies and strategies. Finally, we analyze in detail a use case for the energy market, the Renewable Fuels Standard (RFS) program introduced by the Environmental Protection Agency (EPA), and propose ways in which blockchain solutions can improve the program. We consider the challenges and issues with the existing system in coping with the complicated landscape of environment protection and sustainable development, study the benefits and characteristics of blockchain-based solutions, and delineate potential challenges and opportunities going forward.
Keywords: Fintech; Sustainability; Carbon Emissions; Renewable Energy; Blockchain; Distributed Ledger (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-40647-8_3
Ordering information: This item can be ordered from
http://www.springer.com/9783031406478
DOI: 10.1007/978-3-031-40647-8_3
Access Statistics for this chapter
More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().