Blockchain
Raigarh incorporates Blockchain to monitor industrial CSR Tree Plantation
The Raigarh District Administration has launched a sustainable Blockchain Based Monitoring System for tracking industrial Corporate Social Responsibility (CSR) plantation activities in the city. Utilizing NEAR Protocol‘s fast and low cost operational platform and the innovative technological offerings of Airchains, a cutting-edge blockchain-based middleware SaaS solution, the administration is determined to make significant elevations to the tree plantation mechanism to enable transparency, traceability, and accountability within the sector and regenerate its lost greenery.
Raigarh as a district is home to several industries, including steel, power, and cement, among others. These industries have been actively engaged in CSR activities, including plantation drives, to contribute to the local community and environment. However, ensuring that industries abide by their commitments and monitor the progress of plantation activities is a daunting task for district administrations. The administration also faces a significant challenge of verifying the accuracy of the reports shared by industries outlining their tree plantation and CSR initiatives which requires serious capital and labour.
Leveraging blockchain technology that has been increasingly penetrating different sectors due to its secure, transparent, and immutable nature provides for the perfect solution. The blockchain based monitoring system, developed by Airchains, is focused on providing accurate, immutable, verifiable, and real-time information to the stakeholders of the project along with ensuring the listed industries are compliant with the regulations related to the plantation sector. Over 50 industries have been inducted into the engagement with over 3358 trees planted across 94,945 sq ft so far.
“The initiative to incorporate blockchain technology to enable a trackable and verified system for our industrial CSR efforts is a step forward towards a greener tomorrow. The key problems of the sector can be placated with the use of this immutable tech designed to reduce inefficiencies and capital consumption by providing an automated and accurate alternative. Enabling real time data monitoring and access to the public and any stakeholders, we are nurturing transparency in otherwise opaque administrative processes for the public,” Shri Abinash Mishra, IAS , Zilla Panchayat CEO, Raigarh Chhattisgarh added.
The system provides different functionalities including a unique Tree Aadhaar for easy tracking and storing of data, dashboard login for district administration and listed industries, and the latest plantation data covering holistic aspects such as type, location, time, date, number of trees planted. Additionally, the platform has a smooth user interface designed for listed industries to feed information readily into the system and tracks real-time Air Quality Index (AQI) which is accessible to any visitor to depict the direct effect of these afforestation efforts for public and stakeholders consumption.
“We are honoured to partner with the Raigarh District administration to fulfill their sustainability and CSR objectives. Through this system, they have established a groundbreaking precedence of establishing transparency and traceability to the CSR initiatives in the district and are leading the way with their technological adoption. We believe that this system will set a new standard for sustainable forest management and inspire other governments and organizations to adopt similar initiatives.” Ankur Rakhi Sinha, Co-founder and CEO, Airchains
“We are thrilled to be partnering with Raigarh District Administration to empower sustainable development through blockchain technology. As a public sector player in the forefront of innovation for the public good, they are leading the way in India and we are happy to be a positive catalyst to their initiative with our solution,” said Arpit Sharma, Managing Director, India, SE Asia, and Middle East.
The one-of-its-kind project has two phases of implementation with the first phase including the onboarding of industries, verifying data relating to their tree plantation activities, generating a unique Tree Aadhaar for each tree, and monitoring their maintenance. The second phase aims to monitor the effectiveness of this system for better future planning and geographical assessment. Along with that, the system will further monitor the carbon footprint or lack thereof, to present opportunities for the district administration to leverage carbon credits.
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This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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