BSD joins the Blockchain for Social Impact Coalition (BSIC)
Blockchain for Social Impact Coalition (BSIC) incubates, develops, and implements confederated blockchain products and solutions that can address social and environmental challenges across the United Nation’s Sustainable Development Goals.
BSD is proud to join BSIC to support the development and implementation of blockchain technology to address sustainability challenges. Blockchain is a global technology for collecting, exchanging and communicating information in a manner that improves efficiency, trust and transparency.
Blockchain technology has many promising applications. At its core, the technology allows for collecting and storing information in a distributed manner that is protected from being changed. This model moves away from the current system where ownership of data is centralized and controlled by a single authority or group. This authority is responsible for developing and maintaining the systems to store information and has the ability to modify that data, possibly without oversight. In the blockchain model, data is stored in a distributed, decentralized ledger, which is publicly available and changes to the data are transparent. The technology also allows for peer-to-peer transactions, allowing for the direct exchange of goods, services and payments without the need for an intermediary third-party. These features of the technology make collecting data easier, make information accessible and trustworthy, improve transparency and enable a new, decentralized transactional model.
Some promising applications for blockchain include use in global supply chains, enabling transparency of information, assurance and assessment, ensuring certifications of quality and performance are trustworthy and enabling collection of data for natural capital models where information is highly widespread and notoriously difficult to collect.
BSD is excited to be part of a coalition to implement this innovative technology in furthering sustainability goals. We look forward to new possibilities to make meaningful change!