The World Economic Forum (WEF) in Davos, Switzerland, brings together global leaders and thinkers across various industries to hone in on global issues each year. As the world of crypto and blockchain continues to push into the mainstream view, it, too, has become a topic of discussion at the legacy event.
Cointelegraph editor-in-chief Kristina Lucrezia Cornèr moderated a panel on Jan. 17, which touched on sustainability efforts in the blockchain industry.
Even though not all panelists come from the same background, they unanimously highlighted education and learning as the key way to drive sustainability in emerging technologies during "The emergence of Breakthrough Technologies" panel.
The focus of the panel viewed sustainability in the blockchain industry through two lenses. One of which is in the “green” sense of the word – more energy efficient and sustainable for the environment. While the other speaks to the long-term impact of projects and initiatives in the greater Web3 space.
Mark Mueller-Eberstein, the CEO of business consultancy Adgetec Corporation, pointed out that the industry does suffer from “greenwashing,” but verification standards that can be taken from the blockchain can bring out productivity in sustainability practices in the industry.
“Knowing that we can trust the data is extremely important. This is why I think blockchain especially is so important.”
He continued to say that educating the community, especially the next generation, will be “the cornerstone for all of us, as societies and individuals."
Related: From games to piggy banks: Educating the Bitcoin ‘minors’ of the future
Christina Korp, the president of Purpose Entertainment and founder of SPACE for a Better World, pointed out the significance of education in older generations as well with an example of a U.S. congressman over the age of 70 who began educating himself on artificial intelligence.
“How can all these people make the decisions about what happens with the laws, when they don't even understand the technology or this new world?”
The CFO and treasurer of the Hedera Foundation, Betsabe Botaitis, also touched on trust as a foundation for a more sustainable industry, especially she said, as the blockchain industry can sometimes have a bit of a negative reputation.
“We need to be careful with that because it is easy to think that a new idea can be immediately funded. And that’s not always the case.”
Botaitis used carbon credit tracking as an example of a trust-building niche, in which blockchain can be utilized for this transparency and verification.
“It's such an honor to see how companies are coming together to really build this trust infrastructure, an immutable layer.”
Botaitis continued by saying that creating and leaving a sustainable legacy for the next generation is not just about wealth, but having a safe environment for that wealth and education, once again, the key.
“There's very, very little technology that is given for the education of wealth management. I think that it is the private sector that needs to have that education, the regulators and everyone that is having this conversation.”
Education continues to be a major touch point in the Web3 space, with many brands and initiatives focusing on educating users alongside technical developments.