Harnessing Blockchain Technology for the Delivery of Global Environmental Benefits
Blockchain has been identified as a technology that can be used to address several sustainable development challenges, including for solving environmental challenges. STAP's paper on Novel Entities identified it as an important technology that can be beneficial to the work of the GEF. In this paper, STAP explores further how blockchain can contribute to achieving the objectives of the focal areas and Impact Programs of the GEF. The paper is based on a review of the relevant literature, and a STAP workshop that brought together experts on the environmental applictation of blockchain and members of the GEF Partnership. The paper explains what blockchain is and how blockchain could be used to deliver environmental benefits - particularly for the GEF. It also points out some of the challenges and barriers to using the technology and concludes with recommendations to the GEF.