This is no speculation. + 50,000 VET Giveaway

So I take a more scientific approach since I wrote my master thesis about blockchain and sustainability and would like to let you guys know more about it because I think it is highly important and interesting. The main point I want to make is that blockchain can have a significant impact on sustainable development and while Sunny and Co. sometime use the words “more sustainable” I think they do not realize to the fullest extend how big the influence of vechain can be towards this direction.

The aim of my thesis was to show the potential of linking sustainability with blockchain technology. I will now present you the results and link it to vechain. I just include the most important literature otherwise it would be too much. If someone is interested, i can share the sources.

Kewell et al.[1] connect blockchain technology and sustainability and provide an overview of sectors that will be heavily impacted. Following this, I identify five sectors that are discussed in the literature.

  1. Supply Chains:

    A supply chain describes the cooperation of all companies in the cross-company value chain and thus aims primarily at the links between the network partners. Given the assumption that members of the network primarily focus on their objectives, data is difficult to manage in a supply chain. Blockchain technology together with Internet of Things (IoT) pave the way for more transparent supply chains, hence leveraging benefits for companies and enhancing customer experience.
    The use of RFID tags was examied in an agri-food supply chain in China. The topic has a high relevance since food safety accidents commonly happen not just in China (e.g. toxic milk powder), but also in Europe (e.g. horsemeat scandal in 2013). These scandals led to a loss of trust in food markets and threaten people’s health. Moreover, the development of the economy is impacted, which for Chinese supply chain systems can be problematic because of the lack of modern equipment and regulatory systems. A typical food supply chain consists of planting and feeding (production), picking/slaughter, processing, warehousing, distribution and sales. The basic concept of a tracking system for vegetables and meat is as follows: RFID collect, transfer and share data in each of the mentioned supply chain steps. The DLT then ensures that all information is credible and authentic. The approach also includes government departments or third party regulators and gives them the possibility to check the real-time safety status as well as an emergency response in case of a food safety accident. On one hand, the benefits of this system primarily lay in the traceability management, which allows real-time tracking and full disclosure of information to the customer. The unique ID bound on the product on the other hand protects it from being counterfeited. Disadvantages so far include higher costs (RFID tags) and the immaturity of DLT. A first project carried out by Provenance. Tuna fish was tracked by fishermen with verified sustainability claims. Consumers could track the history of the processed products via their smart phone and gain information about suppliers and producers.
    Another application is the fashion industry. Counterfeited products account for 2.5% of world trade ($461 billion). Oftentimes these goods are fashion items. Counterfeit can also have an influence on the economy as seen in Italy where 100515 jobs were lost while the government lost $1.7 billion in taxes. VeChain, in partnership with DNV GL, is building up a public blockchain to make rapid strides concerning drug traceability, monitoring, security, and auditing. All data (e.g. temperature) involved in vaccine manufacture and transport is recorded with sensitive IoT devices, preventing possible forgeries. Traceability and tracking solutions can furthermore be used in sustainability-based audits. Most of current tracing systems like Fair-Trade or Conflict Minerals refer to relatively short supply chains or only consider tier one supplier.

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