Blockchain and Green Finance: The Way Forward

Title

Blockchain and Green Finance: The Way Forward

Creator

Divyashree K.S.; Mishra A.

Description

A disruptive digital force is altering business paradigms and increasing relevance around the world. Blockchain technology is attracting significant interest in India from a variety of businesses. As the range of uses for blockchain technology expands, industry leaders are adopting and modifying it to suit a variety of use cases. In 2016, adoption of blockchain technology gathered significant momentum in India. In a variety of use cases, many banks and commercial conglomerates have experimented with blockchain technology. Although blockchain technology is still in its infancy, Bitcointhe most well-known use casehas taken off very successfully in India, with several Bitcoin exchanges and wallets spreading throughout the nation. The regulatory organizations are establishing working groups to understand and monitor the development of blockchain technology in India after realizing the potential of the technology. Blockchain is used in green bonds, asset tokenization, carbon credit trading, and transparent reporting. One of the real-life examples is IBM and Veridium Labs, which have worked on a blockchain-based initiative to tokenize carbon credits. The purpose is to improve the efficiency and transparency of carbon trading. Veridium coins represent verified carbon credits, and blockchain secures the credits integrity and traceability. Recently the State Bank of India (SBI) has shown a growing interest in green finance and green bonds. The chapter investigates blockchain applications in the field of green finance. It addresses how blockchain-enabled green asset tokenization might boost liquidity and accessibility for investors, allowing a broader pool of participants to participate in sustainable investments. The article investigates the impact of DeFi platforms in supporting green lending and borrowing, hence lowering reliance on traditional financial intermediaries. 2024 selection and editorial matter, Sukanta Kumar Baral, Richa Goel, Tilottama Singh, and Rakesh Kumar; individual chapters, the contributors.

Source

Green Metaverse for Greener Economies, pp. 22-36.

Date

2024-01-01

Publisher

CRC Press

Coverage

Divyashree K.S., School of Law, Christ University, Bangalore, India; Mishra A., School of Law, Christ University, Bangalore, India

Rights

Restricted Access

Relation

ISBN: 978-104004655-5; 978-103263813-3

Format

Online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.1201/9781032638188-2

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