Web 3.0 Join the green movement

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Web 3.0 hasn’t had the best time in the limelight, often associated with the power and energy-intensive activities of Bitcoin and Ethereum mining. And although the web may exist in virtual space, its effects are real because of the energy required to power it.

However, the Web 3.0 ecosystem is incredibly diverse and many projects focus on direct action towards regenerative projects and the fight against climate change.

What is Web 3.0?

Before we can explore how new Web 3.0 projects are combating long-held beliefs against blockchain technology, it might be helpful to understand where this bad reputation comes from.

Over the past 40 years, the Internet has gone through three iterations: Web 1, Web 2, and Web 3.

Web 1 came into play around the mid-1990s, with mostly static websites and limited opportunities for engagement. Web 2 was born in the 2000s with interactive websites and UGC (User-generated Content). Unfortunately, the Web 2 also has a handful of major players like Facebook and Google who own your information and have the right to sell your data to third parties.

The 2020s became the starting point for Web 3, which stands for decentralization. Essentially, no entity stores your personal data or validates transactions. It seems a lot safer and gives users control over their information, but it does have environmental repercussions.

The energy needed to mine a single bitcoin is about 86,000 to 286,000 kilowatt hours, or about 59 days of electricity for a single American household. With more and more people using cryptocurrencies for transactions, Web 3.0 projects must strictly adhere to sustainability values.

How Web 3.0 will improve society

That said, there are benefits to adopting Web 3.0 and blockchain technology across all sectors of society, from commerce and finance to government, healthcare and research.

  1. Allows scientists and researchers to classify large amounts of virus-related data and store it securely while tracking vaccine supply and logistics to ensure no counterfeits circulate (as in the case of the Vaccines against covid-19).
  2. Smart contracts allow users to lend or borrow money in a trustless environment.
  3. Web 3.0 helps businesses trade and transact internationally at high speed with more security and the ability to scale.
  4. Governments can use Web 3 to provide more targeted information to citizens in the event of warnings of natural disasters or local crimes.
  5. Governments can also facilitate the request for official documents (driver’s license or Covid test report).
  6. Greater transparency in transactions as more validators are needed to authenticate a transaction before it is added to the digital ledger, making actions such as charitable donations and real estate investments more trustworthy.
  7. Bringing users closer to art, concerts, movies, etc. with NFTs and the Metaverse.

How Web 3.0 projects help the environment

The benefits highlighted above barely scratch the surface, and they are indispensable in a world of constant innovation. Keeping this in mind, some of these projects provide users with all the benefits of Web 3.0 and blockchain technology without the emissions and negative impact.

ClimateDAO

Like many social impact DAOs (decentralized autonomous organizations), ClimateDAO focuses on activist investing, but with a twist.

They pool users’ money, buy shares in publicly traded companies, and use their positions to effect change in those companies through proxy voting, initiating proposals and motions, and advocating for a better corporate social responsibility with new sustainability initiatives.

Plastics

Plastiks is an NFT marketplace that connects plastic producers and recyclers using a smart contract approach. The market merges NFTs with actual recycling data from waste management companies, setting a new standard for plastics traceability and recovery.

Megatech

Megatech combines state-of-the-art solar energy technology, revolutionary storage technology and a dynamic financing model to ensure high profits for its users with short turnaround times. Their solar power plants offer high returns to token holders and will continue to grow as Megatech’s beta project takes off.

The Beta project is a 60MW solar farm that will include 100MWh technology with the ability for users to sell green renewable energy at peak rates to blue chip listed companies that have already committed and are committed to collecting.

In addition, Megatech works with several entities in the field of renewable energy, and their initiative is 100% compliant with ESKOM (National Energy Commission).

Through their partnership with Binance Smart Chain (BSC), users also benefit from smart contract functionality, high speed, and low fees while earning crypto and supporting sustainable energy solutions.

A New Sustainable Internet

It’s great to see more and more people becoming aware of the environmental impact of specific actions and speaking out against them. It’s even better to see how these projects have addressed these concerns without losing the essence of Web 3.0 and blockchain technology.

After all, if Web 3 is an evolution of Web 2, it is understood that it must also be the more sustainable option.

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