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.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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Blockchain
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