Blockchain technology in CSR projects must mean that it brings a lot to the table and must have something unique to offer. For one, blockchain is renowned for its transparency qualities; the immutable ledger makes it easier to monitor the project and track transactions related to the project. The technology is also a perfect way to create a token, attach it to the project, and bid for charitable investors interested in the success of the project. Indeed, there are several benefits to using blockchain projects for CSR projects. In the section below, we briefly examine some of the popular CSR projects that have or continue to use blockchain technology.
Top Blockchain CSR Projects
Planet or Plastic
Planet or Plastic was a CSR project courtesy of a collaboration between Lonely Whale and Schoolab. The former is an organization committed to actions to protect the ocean, and the latter is an innovation company. Using a protocol called OCEAN Protocol hosted on blockchain technology, both organizations were able to embark on a CSR project to combat plastic pollution. Planet or Plastic used the OCEAN protocol to gather ocean plastic waste data. They also used the technology to trace and track the waste for clean up and accountability and promote respectable waste practices.
REGEN Network
REGEN Network is a prime example of a CSR project utilizing blockchain technology. Regen network has an ingrained focus on sustainability and the improvement of the environment. It has hopped on the blockchain for good training to achieve this goal. Regen uses the blockchain network to track ecological improvement in the environment. To do this, blockchain technology creates a ledger record to record ecological data. Regen also establishes a system where farmers and land managers can monetize their ecological best practices, and in this way, the project breeds a system of beneficial environmental actions.
WEForest
This CSR project aims to reduce deforestation and promote ethical sources of wood products. WEForest has embarked on numerous projects with various partners from all works of life. They use blockchain technology to supply and deliver wood products. The technology has also been utilized to track and effectively track products. Moreover, the technology allows users to verify the origin of the wood and confirm that it was indeed obtained from ethical sources using verified forestry practices.
Transparency for Refugee
This CSR project takes a different turn from others; as the name implies, the project is geared toward distributing resources to refugees in need of humanitarian aid. The project uses blockchain technology to distribute these resources. They utilize the immutable blockchain ledger to record and track the distribution of these resources to the end users. The technology also enhances transparency and accountability in the distribution of resources.
Conclusion
Above are some of the distinct corporate social responsibility (CSR) actions that blockchain technology has brought about. There are undoubtedly many more than this, but the ones above are sufficient to prove blockchain’s importance across the board.
