For the first time in the top five global risks in the World Economic Forum report were global risks related to climate. From devastating wildfires in Australia and the Amazon to devastating locust outbreaks in the Horn of Africa, 2020 was marked not only by the global COVID-19 pandemic, but also by a series of worrying reminders of the effects of climate change if left unchecked. …
Over the past year, we have witnessed the dangerous consequences of delaying action between looming crises. While the timing of climate change isn’t measured in days or weeks, headlines about climate change in the next decade may not be any different from the coronavirus pandemic. To that end, the blockchain and the crypto community should consider applying the lessons learned from the coronavirus pandemic to the next looming global crisis: climate change.
Encryption and climate change
Blockchain and the cryptocurrency community have undoubtedly contributed to the greenhouse gas emissions generated by the aviation industry. Frequent travelers are defined as people who travel “approximately 35,000 miles (56,000 km) per year,” the equivalent of three long haul flights per year, one short haul flight per month, or a combination of two, according to a study published in Global Environment Change. … ”
As a globally distributed community, it is likely that those who worked with blockchain and cryptocurrency spent more than average time in the air before the pandemic. Frequent travelers, as defined above, are likely to account for more than half of all passenger traffic, and about 2.4% of global carbon dioxide emissions are from aviation. Overall, experts estimate that the aviation industry is responsible for about 5% of global warming.
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A return flight from London to New York generates the equivalent of 11% of the average annual human emissions in the UK, or roughly the same total emissions as a person living in Ghana for an entire year. Not only can emissions from flights account for a significant portion of a person’s carbon footprint, but they are also a testament to the huge difference in who emitters and who bears the greatest burden.
The unintended consequences of stopping the coronavirus include a sharp decline in air pollution and carbon dioxide emissions. In China, for example, carbon dioxide emissions have temporarily decreased by a quarter. While signs of environmental sustainability are promising, these effects are temporary unless sustainable measures to reduce emissions are taken.
Unfortunately, improvements in fuel efficiency have not kept pace with the rapid increase in passenger numbers throughout the year, which means that successful solutions to reduce emissions require people to reduce the number of aircraft.
The epidemic showed us the best solutions
While we have tried to recreate personal interactions using video conferencing, which yielded mixed results during the pandemic, technology has evolved rapidly and offered more promising methods of virtual interaction, that is, using social, virtual and augmented reality.
The Big Four auditing firm PricewaterhouseCoopers has released a report that predicts that “by 2030, 23.5 million jobs worldwide will use AR and VR for training, business meetings, or to improve customer service.” Online video conferencing was not yet ready for the transition to a full-fledged virtual business, but over time, promising new solutions could provide better, more complete and photorealistic virtual environments that go beyond the current reality of 2D video conferencing.
Advances in virtual reality made by some companies point to a broader need for virtual reality beyond its traditional use in games and entertainment. As 2020 showed, the world was not ready for a home office culture. And while more virtual office environments will certainly be released in 2021, resilience is likely to be driven by popular concerts using social virtual reality or SVR technology. Take, for example, how the concerts in Ibiza with David Guetta were digitally created by combining the most advanced SVR and AI technologies. Making a gig like this is incredibly time consuming than recreating most office environments, and it looks like the launch of these new companies will accelerate the takeover of the SVR industry as a whole.
As the old adage goes, necessity is the mother of invention. Advances in virtual reality will create a future with fewer face-to-face meetings so that the blockchain and crypto community can reduce or eliminate unnecessary high-emissions travel.