Resolving these competing visions of the digital future will be key to reining in cybercrime and defending data privacy from governments and Big Tech, but it will require the same kind of global response that precipitated the rise of the climate change activism. The truth is, if we want to save the internet from becoming the hunting ground of criminal bandits, dictators, demagogues and wealthy tech dilletantes with a political axe to grind, the public itself is going to have to take radical action.
The promise of secure, immutable, and universal registries for carbon credits highlights the importance of DLT to usher in a new generation of voluntary carbon markets. The technology has proven its merit in financial services for increasing trade velocity, reducing costs, and expanding liquidity pools. But the failure of similar projects that use DLT demonstrates the fallibility of a “build it and they will come” mentality. Instead, DLT should be harnessed as an enabler of a broader industry shift toward industry-wide standardization and collaboration through initiatives such as the Taskforce on Scaling Voluntary Carbon Markets.
In its simplest form, decentralisation means that no single power has exclusive control over the data or its processing. In the context of blockchain, this is achieved because the data is also distributed, ie, it is stored at each individual node in the network and not a single location. In terms of clinical trials, decentralisation means that it is not happening at a single central site; instead, it may be a multi-centre trial or be using connected technologies to enable participants and investigators to report remotely – while remaining within the overall structure of scientific and regulatory controls.
Some experts believe blockchain technology (a type of digital ledger technology, or DLT) could help tackle climate change, rather than contribute to it.
To understand how and why, you need to get your head around how blockchain works.
Put (very) simply, it is a database of transactions and rules, but instead of it being held in one central location, it is replicated on a “distributed network” of member computers.