From banks to supply chains, it has revolutionized many aspects Business and industries All sizes. The cryptocurrency market, which was only worth $1 billion nearly a decade ago, has now exploded into a massive $2 trillion industry, evolving what started with the Bitcoin blockchain into an integrated crypto system with over 18,000 different projects.
Blockchain Solutions She appeared to solve real-world problems. One critical problem they solve is preserving natural capital by avoiding gold mining. Gold mining is known to be one of the most harmful industries in the world. Displaces people, pollutes drinking water, harms workers and harms natural habitats.
In general, gold mining has had such a negative impact that it is now endangered people’s health and ecosystems worldwide.
The devastating effects of gold mining on the environment
Gold has been the most valuable element in jewelry and a preferred method of exchange for centuries. However, extracting approximately one ounce of raw gold can yield approximately 20 tons of solid waste. Most gold mining methods involve moving huge amounts of soil and rock, which is detrimental to the biodiversity of the area. Daily mining activity can destroy wetlands and waterways.
Likewise, the use of massive mining equipment powered by fossil fuels leads to massive emissions of greenhouse gases. Mine accidents and leaks pose a greater threat to nearby land and water resources.
In addition, the mercury used in artisanal gold mining activities And on a small scale, it can unfortunately end up in the air and pollute nearby air and water. Even using sodium cyanide to extract gold from ore without proper containment can damage air and water.
Acid mine drainage was also a problem with the advent of gold mining. Chemical reactions between sulfides and surface elements lead to the release of sulfuric acid into the environment. This chemical reaction can enter into a feedback loop and continue for hundreds of years. Other metals such as cadmium, arsenic, lead, and iron polluted rivers and streams, and destroyed lives.
However, viable alternatives are emerging, and blockchain technology makes that possible.
Go green with blockchain solutions
Blockchain technology and its features such as cryptocurrencies and tokenization of real-world assets can solve the long-standing problem of gold mining. It achieves this by allowinggold preservation coding And allow users to invest in keeping real gold in the ground. Thus, the benefits of gold can be reaped without the need to extract more gold.
Although this concept sounds too good to be true, the project can make it a reality. Nature’s Vault uses blockchain technology to symbolize the preservation of gold. It unleashes the value of mineral assets buried in the ground without the negative environmental consequences of mining. With its $LEGACY token, associated with NaturesGold, it allows people to invest in gold preservation.
It is actually one of the first projects that introduced a new concept known as keep earning. The platform allows users to participate and win with $LEGACY tokens, with each token backed by at least 0.01g of NaturesGold. The best part is that real gold is being quantified underground as investors continue to profit from the $LEGACY tokens. Nature’s Vault is committed to acquiring the rights and holding more non-mineral gold from the proceeds from sales of the US dollar token LEGACY.
It has a positive impact on the environment
Natural capital is decreasing year by year, and the environmental consequences of mining contribute to this. The devastation of the Amazon rainforest – A biologically rich environment that acts as a brake on global warming – intensified by the gold mining boom. It is time for governments and citizens to take action in this regard by preserving nature reserves.
However, there seems to be light at the end of the tunnel now that the blockchain has emerged. It can have a significant positive impact on the environment. Plus, with projects like Nature’s Vault, which offers sustainable alternatives in gold miningThings will definitely change. The future belongs to people who care about the planet and embrace a new way of investing in minerals and other natural resources.
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