How Blockchain Technology Can Play a Role in Preserving Natural Capital
27 Abril 2022 - 4:46AM
NEWSBTC
Blockchain and crypto are changing major industries around the
world. From banking to supply chains, it revolutionizes several
aspects across businesses and industries of all sizes. The crypto
market which was only worth $1 billion almost a decade ago, has now
exploded into a massive $2 trillion industry and what originated
with the Bitcoin blockchain, has evolved into a full-fledged crypto
ecosystem with over 18000 different projects. Blockchain solutions
have emerged to solve real-world problems. And one of the critical
issues they are solving is preserving Natural Capital by avoiding
gold mining. Gold mining is known for being among the world’s
most harmful industries. It displaces populations, taints drinking
water, harms workers, and damages natural habitats. As a whole,
gold mining has had such a negative influence that it is now
jeopardizing people’s health and ecosystems globally. Gold Mining’s
Devastating Environmental Effects Gold has been the most precious
component of jewelry and a preferred mode of exchange for
centuries. However, mining just one ounce of gold from ore can
produce around 20 tons of solid waste. Most gold mining methods
involve moving enormous amounts of dirt and rock, which is harmful
to the biodiversity in the area. A mine’s daily activity can
devastate wetlands and waterways. Similarly, the operation of
massive fossil fuel-powered mining equipment results in immense
greenhouse gas emissions. Mine mishaps and leaks represent an even
more significant hazard to neighboring land and water resources.
Furthermore, the mercury used in artisanal and small-scale gold
mining activities can, unfortunately, become airborne and pollute
the air and water nearby. Even using sodium cyanide to extract gold
from ore without being adequately confined can damage air and
water. Acid mine drainage has also been an issue with the rise of
gold mining. Chemical reactions between sulfides and surface
elements result in sulfuric acid being released into the
environment. And this chemical reaction can enter a feedback loop
and continue for hundreds of years. Other metals such as cadmium,
arsenic, lead, and iron have polluted rivers and streams,
devastating lives. However, viable alternatives are emerging, and
blockchain technology is making that happen. Going Green with
Blockchain Solutions Blockchain technology and its features like
cryptocurrencies and tokenization of real world assets can address
the long-standing gold mining problem. It accomplishes this by
enabling the tokenization of gold preservation and letting users
invest in preserving actual gold in the ground. Thus, the
benefits of gold may be reaped without actually mining any more
gold. While this concept sounds too good to be true, one project
may be making it a reality. Nature’s Vault uses blockchain
technology to tokenize the preservation of gold. It is unlocking
the value of in-ground mineral assets without the negative
environmental consequences of mining. With its $LEGACY token,
which is linked to tokenized NaturesGold, it allows people to
invest in preserving gold. It is, in fact, one of the first
projects to introduce a new concept known as Preserve-to-Earn. The
platform allows users to stake and earn using $LEGACY tokens, where
each token is backed by at least 0.01 grams of NaturesGoldTM. The
best part is that real gold is quantifiably preserved underground
while investors continue to profit from $LEGACY tokens. And
Nature’s Vault commits to acquiring rights over, and preserving
significantly more unmined gold, from the proceeds of $LEGACY
Token sales. Making a Positive Impact on the Environment Natural
Capital is diminishing year after year, and the environmental
consequences of mining are contributing to this. The
devastation of the Amazon rainforest—a biologically rich
environment that functions as a check on global warming—is
intensifying due to a gold mining boom. And it’s high time for
governments and citizens to take action on this by preserving
natural reserves. However, there seems to be light at the end of
the tunnel now that blockchain has emerged. It has the potential
for a tremendous positive impact on the environment. Moreover, with
projects like Nature’s Vault introducing sustainable alternatives
to gold mining, things are certainly set to change. The future
indeed lies in people caring about the planet and adopting a new
way to invest in metals and other natural resources.
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