Blockchain applications, which have become increasingly popular in recent years, are widely used in various industries, especially in the financial services sector, which accounts for 82% of all blockchain technology applications. In addition to tens of thousands of virtual currencies, such as Bitcoin and Ether, which are familiar to the public, blockchain technology is also used in various fields outside of finance. Wandatech Co., Ltd. from Taiwan is using blockchain combined with IOT technology to launch “EZGreen BTIoT” in the hope of contributing to the sustainable development of the environment.
Because of its decentralized technology, blockchain technology is widely used in the fields of finance, rent and loan, data transmission, etc. The NFT (Non-Fungible Token), which has become popular this year, is also a new successful example in the field of digital artworks by using the indivisible and unique characteristics of blockchain technology. In addition, blockchain technology can also be combined with the concept of environmental protection by planting trees to reduce the earth’s carbon footprint. EZGreen, an international non-profit organization, has recently announced that it will jointly launch the “EZGreen BTIoT” tree planting and carbon reduction program with Wandatech Co., Ltd., a leading Taiwan-based company in the field of electronic payment applications and blockchain technology, which combines blockchain and IOT technologies.
Ms. Lin Wan Tzu, Chief Operating Officer of Wandatech Co., Ltd. said, “The problem of global warming is getting more and more serious, and how to achieve the goal of carbon neutrality is something that every inhabitant of the earth must pay attention to in the future. If the dividends of carbon trading are available to everyone who grows trees, it will help to green the environment and accelerate the goal of carbon neutrality.
Lin Wan Tzu further explained, “The non-profit organization EZGreen has designed an exclusive blockchain, the EZGreen Chain, to shape the entire planet into an EZGreen Chain environment, and every tree in this environment, regardless of size, is tied to an IoT device and has a unique location in this blockchain. Through collaboration with forestry research institutes, we can build a database of the biological characteristics of tree species, and then calculate the amount of carbon sequestration that each tree in this blockchain can provide to the Earth. This concept is equivalent to the amount of “computing power” that a bitcoin miner can bring, except that bitcoin miners bring an increase in energy consumption and carbon emissions, while these lovely trees can contribute to the planet’s carbon neutrality.
The first goal of the project is that non-profit organization EZGreen will be the first to launch NFT with an emphasis on coexistence with trees, and to plant one million trees in Paraguay, the center of South America, where deforestation is a serious problem, as the purpose of the launch. In the future, people who have a tree in their backyard will be able to chain their own trees via IoT devices. Once there are 5 million “tree nodes” on the EZGreen Chain, EZGreen will apply for certification from the carbon sequestration certification organization. In addition to slowing down global warming and protecting the environment, each tree in the blockchain will be able to receive the dividends of carbon trading, just like the miners in the virtual currency miners, and the green miners will be able to achieve profits.