Blockchain integration with the SDGs
Cynthia Weiyi Cai · 2024
This chapter explores how blockchain technology offers companies novel avenues to address sustainability challenges and drive positive change through four illustrative scenarios. We argue that blockchain acts as both an enabler and disruptor, empowering companies to enhance sustainability efforts toward achieving the Sustainable Development Goals (SDGs). It transcends mere reporting, guiding business strategies toward heightened environmental and social consciousness. As an enabler, blockchain augments the measurement of SDG indicators, providing a transparent and immutable platform for data logging. This improves evaluation at specific and organizational levels, facilitating SDG reporting and goal attainment. As a disruptor, blockchain can revolutionize business practices and ecosystems, aligning operations with SDG targets. The chapter provides an overview of blockchain technology, its integration into SDG reporting processes, and potential applications. It concludes by highlighting the readiness of the blockchain ecosystem and associated risks for organizations to consider.