How blockchain can help protect endangered species
The world is the midst of the sixth mass extinction event in history, with the size of animal populations having declined by an estimated 69% according to the Living Planet Index. In fact, it is estimated that at least 38,500 species are currently under threat, with 16,300 believed to be endangered. Poaching, illegal wildlife trade, habitat loss, and insufficient enforcement of regulations are just a few of the factors contributing to this crisis.
In the fight to protect endangered species, emerging technologies like blockchain offer a glimmer of hope. Blockchain, with its decentralized and transparent nature, has the potential to revolutionize wildlife conservation efforts and create a more secure and accountable system for protecting our planet's most vulnerable creatures.
In this article, we delve into some of the ways Web3 technology can help safeguard our planet's endangered species.
Transparent Data Sharing
Blockchain can help facilitate collaboration amongst various stakeholders involved in wildlife conservation, including NGOs, researchers, governments, and local communities, by enabling the secure sharing of data, research findings, and best practices on a distributed and immutable ledger. This shared knowledge can empower decision-makers to develop more informed and evidence-based strategies to safeguard endangered species.
According to the World Wildlife Fund, one of the world’s largest conservation NGOs, “Blockchain technology provides secure data distribution in innovative conservation projects such as monitoring wildlife over large areas in addition to tracking the supply chain of a marine species from ocean to dinner plate.”
Consider a scenario where a rare Siberian tiger is spotted in a new location where they have not previously been seen. With blockchain, that sighting could be logged on-chain, verified, and shared with organizations worldwide in an instant. These groups could then respond more effectively to protect the tiger and its newfound habitat. Other information on endangered species, such as population numbers, habitat conditions, and migration patterns can all be stored on chain, providing invaluable insights into population trends, threats, and the effectiveness of conservation efforts. Once data is logged on chain, it cannot be tampered with, helping ensure the integrity of the data and fostering trust among stakeholders and the public.
One example of a project that demonstrates the potential of blockchain to track important conservation data is Open Forest Protocol, a Web3 project that uses blockchain technology to monitor and verify reforestation projects. Their blockchain-based platform allows NGOs, governments, and local communities to track reforestation projects in a transparent and open-source manner, providing an effective means to verify the impact of reforestation and conservation projects. Forestation projects are registered on Open Forest Protocol’s public network, with regular monitoring data being captured from sample plots, and stored on their open and distributed ledger. These data sets are then verified by a global network of validators who cross reference it with “unique data sets and expertise such as AI and remote sensing.” Similar tools could be applied to the monitoring of endangered species, with a network of stakeholders, including park rangers, tourists, and NGOs, all playing an important role in collecting and validating data.
Enhancing Transparency in Supply Chains
One of the critical areas where blockchain can make a significant impact is in curbing the illegal wildlife trade. By using blockchain technology, it becomes possible to create an immutable and transparent record of every transaction throughout supply chains, from point of origin to final destination. By tagging and tracking wildlife products via blockchain, authorities can ensure that any items in circulation are legal and ethically sourced. This increased transparency helps authorities and organizations trace the origin of illegal products, identify criminal networks, and take appropriate action to prevent further harm.
By integrating blockchain into the supply chain of legal animal products, it could become much more difficult for poachers and smugglers to launder their goods into markets. Each step of the process, from extraction to sale of legal products, can be recorded on the blockchain, enabling authorities to track the flow of illicit goods and target the root causes of the problem.
It could also ensure the ethical sourcing of food products that have historically been tied to species endangerment, such as palm oil and tuna. By recording and verifying every step of the product’s journey through the supply chain, it can support conscious consumerism and give piece of mind that the products being purchased are legal and sustainably sourced.
Furthermore, blockchain technology can incentivize supply chain data sharing through tokenized reward systems. By rewarding individuals or organizations that contribute data or assist in conservation efforts, blockchain creates a virtuous cycle of knowledge exchange and cooperation.
A great example of this in action is Fishcoin, a blockchain-based seafood traceability project, which “incentivizes supply chain stakeholders to share data from the point of harvest to the point of consumption.” This helps create a more open, transparent, and accountable seafood industry, while providing valuable data sets to monitor marine species.
Impact Tokenization and Natural Capital Backed Assets
Through tokenization, blockchain can create a digital representation of physical assets, in this case, animals or animal habitats. These digital representations can hold information about the animal's health, location, and can even include genetic data. This allows for better monitoring and care of endangered species, while creating innovative opportunities for the average consumer to have “skin in the game” in vital conservation efforts.
Another way that Web3 can support endangered species is through the innovation of natural capital-backed assets, where financial instruments are backed by natural resources such as forests, wetlands, and other natural habitats. By investing in these assets, individuals and organizations can help fund conservation efforts and incentivize the regeneration of the planet's natural resources.
One example of a Web3 natural capital-backed project is Fund The Planet, which uses the funds from the purchase of their Rainforest Token NFTs to purchase and protect swaths of rainforest land. Each token certifies the protection of a specific piece of rainforest land, with 567 hectares of land being acquired thus far.
Initiatives such as Fund The Planet have the potential to gamify conservation efforts while creating a new global market for conservation that generates much-needed revenue for charitable organizations and communities working on the on the front line.
Crypto Philanthropy and Movement Making
Crypto philanthropy has been one of the biggest trends in the Web3 social impact space in recent years, with prominent platform The Giving Block projecting $10B in crypto donations in the next decade.
Through crypto giving platforms like The Giving Block and Endaoment, holders can donate their crypto to NGOs participating in conservation efforts. In the case of The Giving Block, this could include donating to their Animal Impact Index Fund, which splits donations amongst a number of organizations, or by donating directly to organizations such as the International Anti-Poaching Foundation, the Dian Fossey Gorilla Fund, and the Global Sanctuary for Elephants, among many others.
In addition to crypto donations, NFT Fundraising is another trend within the crypto philanthropy movement that has gained incredible momentum in recent years. This consists of mission focused NFT projects that commit a certain percentage of sales to philanthropic causes. In the case of endangered species conservation, this could include projects like Untamed Elephants, which has donated over $75,000 to elephant charity partners, and Salty Sharks, which has partnered with Fins Attached to support marine conservation efforts. To learn more, check out our interviews with the Founders of Salty Sharks and Untamed Elephants on the Crypto Altruism podcast.
In addition to raising funds, projects such as these can help raise awareness of important causes and create an engaged community of supporters dedicated to their cause. These individuals have skin in the game, and are often provided with special perks, giving them opportunities to play a direct role in the movement. In the case of Untamed Elephants, this includes giving holders the opportunity to take part in international elephant rescue mission trips.
Conclusion
The preservation of endangered species demands innovative and robust solutions. Blockchain technology presents a unique opportunity to transform the landscape of wildlife conservation. From enhancing supply chain transparency and securing digital identities, to enabling direct funding and fostering collaboration, blockchain has the potential to revolutionize efforts to protect endangered species.
However, it is important to acknowledge that blockchain alone cannot solve all the challenges faced by wildlife conservation. It should be seen as a tool that, when integrated with existing conservation strategies and regulatory frameworks, can significantly strengthen efforts to combat poaching, preserve habitats, and protect the incredible biodiversity our planet harbors. With the right combination of technology, political will, and global cooperation, we can harness the power of blockchain to safeguard endangered species for generations to come.
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