Beyond Blockchain: Cardano’s Impact Report Unveils a Sustainable Future

“The UN believes that blockchain, the technology lying behind these online currencies, could be of great benefit to those fighting the climate crisis, and help bring about a more sustainable global economy”

– UN on Blockchain and Climate Change

Sustainable ADA has recently unveiled its eagerly awaited Impact Report, presenting an in-depth analysis of Cardano’s progress and noteworthy accomplishments as an environmentally sustainable cryptocurrency. The comprehensive report offers stakeholders, investors, and the general public a comprehensive overview of Cardano’s steadfast dedication to sustainability, social impact, governance, and innovation. It comprehensively outlines how Cardano serves as a sustainable cryptocurrency, emphasizing its low carbon footprint derived from its proof-of-stake (POS) protocol, which eliminates the need for resource-intensive hardware and excessive energy consumption¹.

In 2023, Cardano achieved notable milestones that have significantly impacted its reputation and demonstrated its commitment to key aspects of its blockchain ecosystem. Firstly, Cardano has received recognition for its commendable approach to the equitable distribution of its native cryptocurrency. This commendation stems from the fair and inclusive distribution of coins among participants, showcasing a commitment to avoiding the concentration of wealth.

Cardano has attained an exceptional A+ score in the governance category, which evaluates factors such as the quality and quantity of active miners, network security, and overall governance practices. This accolade signifies Cardano’s commitment to maintaining a robust and secure network through effective governance mechanisms.

Moreover, Cardano’s contributions to the United Nations High Commissioner for Refugees (UNHCR) through the facilitation of the sale of numerous non-fungible tokens (NFTs) on its blockchain have made a positive and noteworthy impact on people’s lives. By leveraging the Cardano Blockchain as a platform for these transactions, the project has actively supported the UNHCR’s mission and contributed to the advancement of Sustainable Development Goals (SDGs) and to giving more funds to help refugees in need². Aside from UNHCR, Cardano has also collaborated with the Ministries of Education of Georgia to use Cardano to build a next-generation credential verifications system for Georgia³ and with the Government of Ethiopia to implement a blockchain-based student and teacher ID and attainment recording system⁴.

“It’s our hope that this report will increase awareness amongst readers and those who are open to learning the potential of blockchain technology to drive positive social and environmental change. Inspiring others to explore all the ways in which they too can use this tech to improve their lives, uplift their community, and create a better world for all”

– Razali and Cole, the founders of Sustainable ADA.

This report emphasizes that the sustained impact of Cardano hinges on strategic partnerships and the educational efforts surrounding blockchain’s global adoption and impact. It underscores the importance of disseminating knowledge and insights to key stakeholders, empowering them to make informed decisions and harnessing the capabilities of blockchain for sustainable development objectives. 

In addition to emphasizing environmental sustainability, this report delineates the distinctive value proposition of Cardano when compared to other blockchain platforms. It elucidates Cardano’s environmentally friendly characteristics and highlights specific projects that exemplify its commitment to ecological restoration and environmental monitoring. Notable examples include Veritree, an integrated planting management platform enabling the implementation of world-class restoration initiatives, and Open Litter Map, an open-source environmental monitoring tool designed to incentivize participation in zero waste and circular economy endeavors. These initiatives underscore Cardano’s dedication to leveraging technology for the betterment of the environment and the promotion of sustainable practices.

The publication of the Cardano Impact Report reaffirms the platform’s steadfast dedication to sustainability, extending well beyond mere energy efficiency considerations. It showcases Cardano’s support for renewable energy sources and its active involvement in initiatives such as the Cardano Forest, Cardano Foundation, and Cardano Trees. This comprehensive report serves as a crucial resource for collaborators, including international organizations, educational institutions, social enterprises, and other stakeholders involved in the Cardano ecosystem. It provides valuable insights and information regarding Cardano’s sustainability efforts, fostering collaboration and engagement among diverse stakeholders in the pursuit of shared environmental and social goals. To access the full Impact Report and learn more about Cardano’s sustainability initiatives, please visit our website (https://sustainableada.com/cardano-impact-report/).

¹  SALEH, F. 2021. Blockchain without waste: Proof-of-stake. The Review of financial studies, 34, 1156-1190
²NMKR. 2O23. How the UN Refugee Agency used NFTs to raise funds for Refugees in Need [Online]. Available: https://www.nmkr.io/clients/unhcr-raises-funds-with-nfts-for-refugees [Accessed]
³FORBES. 2019. Ministry of Education Signs a Deal with Cardano Atala Forbes
^{4 INPUT-OUTPUT. 2023. Atala PRISM: Pioneering Digital Identity with Decentralized Solutions}