Today, society is transitioning from an informational economy to one defined by a new technology set like blockchain that promises to redefine transparency and inclusion worldwide. Blockchain is a decentralised database shared among people in which changing and modifying data is nearly impossible. Anyone can get a copy of the decentralised ledger (database), which makes it a transparent database. Blockchain is a critical technology that has an impact that goes beyond the economy. It can transform social interaction, public institutions, and our relationship with the environment. But the Proof of Work (PoW) consensus mechanism used to mine cryptocurrencies and verify transactions in blockchains such as Bitcoin and Ethereum requires exorbitant amounts of energy which harms the environment.
Sustainable development has fast become a global priority ever since the United Nations (UN) adopted the Sustainable Development Goals (SDGs) on January 1, 2016. Even though blockchain innovation has prevalently focused on gains in crypto-financial assets, it is being sought out for ways to…
