How Web3 Technologies Can Help Advance Sustainability in 2023

"Sustainability improves the quality of our lives,
protects our ecosystem and preserves natural resources for future generations."

~BluGlacier

At ZorroSign, we are committed to advancing technology while advancing sustainability. Our data security platform incorporates web3 technologies, such as blockchain and artificial intelligence (AI), that have the potential to significantly improve sustainability and environmental conservation in the coming years, so that future generations have continued access to natural resources and a thriving ecosystem.

Here are some ways I imagine web3 technologies, like ZorroSign, can support greater sustainability in 2023 and beyond:

Circular Economies

Circular economies seek to recirculate products and materials—helping to regenerate natural resources and greatly reducing waste and pollution. Web3 technologies can also facilitate the creation of a circular economy by enabling the tracking and tracing of resources and materials throughout their lifecycle. This helps reduce waste and promotes the reuse and recycling of resources.

"Waste generation is a significant challenge to solve in driving sustainability in the tech sector, so companies need to urgently address this important topic. Demand for technology is high and business leaders face pressures to continue updating their operations by introducing the latest hardware. However, if there is limited consideration for the circular lifecycle of equipment, this can have a negative impact on the environment," note Praveen Shankar and Greg Sumner for ComputerWeekly.com.  "Creating this circular economy and driving its importance across organizations and markets is also integral to reducing emissions."

Energy Efficiency and Decentralization

AI and the IoT can also be used to improve energy efficiency by enabling the optimization of energy use. Sensors and other IoT devices could be used to monitor energy usage in real-time and automatically adjust it to optimize efficiency—leading to significant energy savings and a reduction in carbon emissions.  

"Web3 has the potential to radically change energy as we know it, by starting with individual sectors first but ultimately transforming the entire energy market," promotes an upcoming Polkadot crowdcast on Decentralized Solutions for the Energy Sector. Web3 technologies like blockchain can enable the creation of decentralized energy systems that allow individuals and communities to generate, store, and sell their own energy. This can help reduce reliance on fossil fuels and promote the use of renewable energy sources.

Smart Contracts

Smart contracts—self-executing contracts with the terms of the agreement written into blockchain code—can also be used to automate sustainable practices. For example, smart contracts can be used to automate payments for renewable energy generation, incentivizing companies to use more sustainable energy sources.

"Smart contracts allow us to design globally accessible and fully automated incentive systems that can directly reward individuals, companies and governments for taking part in sustainable practices—such as regenerative agriculture, carbon offsets, crop insurance and more," writes Adelyn Zhou for the World Economic Forum. "At its core, the fight against climate change is going to require a massive shift in global consumption habits, and smart contracts are an incredible tool for incentivizing participation in global green initiatives."

Supply Chain Traceability and Transparency

Blockchain can help create a more transparent and traceable supply chain. Such traceability can help to reduce waste and improve the sustainability of products and materials. For example, a company could use blockchain to track the source and movement of raw materials, ensuring that they are being sourced sustainably and ethically. This enables consumers to make more informed choices about the products they buy, and encourages companies to adopt more sustainable practices.

"Blockchain will prove to be the ultimate answer to supply chain transparency," explains Rhonda Dibachi for Forbes. For example, "Requiring that suppliers accept APIs is one way of gaining visibility in a world where no digital architecture currently exists for it. To get beyond the self-contained bubble of the connected factory to the next step—a connected supply chain—you have to invite your suppliers in, and the blockchain offers a mechanism for the trust that will be required. That's why blockchain will be the ultimate solution—for all sorts of business that requires trust."

Sustainable Agriculture

AI paired with IoT can be used to improve the sustainability of agriculture by enabling precision farming. Such farming uses sensors and other IoT devices to monitor and optimize various factors—such as irrigation and fertilization—in order to reduce waste and increase growth efficiency. This can lead to higher crop yields and a more sustainable food system.

And blockchains can also enable regenerative agriculture programs through "efforts to incentivize communities to reduce their carbon footprints through more sustainable land-use practices, usually a combination of planting trees and conservation," continues Adelyn Zhou for the World Economic Forum.

ZorroSign incorporates this approach in our Save a Tree/Plant a Tree program that unites digital operations with conservation deliverables.

Ongoing Efforts

While these applications are just the tip of the iceberg for web3 technologies supporting sustainability, I believe AI and blockchain are becoming critical to achieving greater sustainability.

At ZorroSign, we are eager to promote data security and sustainability in our vision to help people live a paperless life and transform how they secure and share their digital data. We leverage AI and blockchain technologies to deliver a lifetime of privacy and security for digital signatures, identities, and documents that are easy to use, legally compliant, and sustainable. Visit our website at ZorroSign.com to learn more about how our customers and partners use ZorroSign technologies to elevate IT security.