Research Area:  Blockchain Technology

Abstract:

Integrated with Smart Contract, Blockchain technology realizes much wider applications through allowing automatic execution of obligations, reduction of costs, increase of security, and improvement of analytics in upscaling climate actions. In this chapter, we discuss some distinct features of Blockchain technology and explore its potential applications in enforcing climate change law and green finance regulations. Specifically, this chapter provides both international and China’s use cases on how Blockchain technology can boost climate actions. Also covered are the challenges and opportunities facing local and international regulations to further unleash the potential of Blockchain technology in mobilizing green finance with recommendations of legal framework reform. This chapter argues for the governments to provide a friendly regulatory environment toward Blockchain and other innovative technologies, supplemented with appropriate institutional frameworks, to enable these technologies to support the international community in the achievement of the Sustainable Development Goals (SDGs).

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Author(s) Name:  Xiaochen Zhang, Matias Aranguiz, Duoqi Xu, Xing Zhang, Xinran Xu

Publisher name:  Elsevier

DOI:  10.1016/B978-0-12-814447-3.00021-5

Volume Information:  Pages 289-301

Paper Link:   https://www.sciencedirect.com/science/article/pii/B9780128144473000215