Blockchain Technology Improves Distribution of Fuel-Efficient Cook Stoves in Myanmar
In November month of this year, team members of GGGI and green investment experts kept on discussing various ways to improve the distribution and utilization of fuel-efficient cookstoves.
Fuel efficient cookstoves are more beneficial than the traditional cookstoves. Moreover, fuel-efficient stoves require less firewood, and hence it saves a lot of time that was spent in collecting woods from the forest. It is quite helpful, especially for women.
Cookstoves are mostly used in rural communities in Myanmar while their little usage in Delta causes lot problem. The reason is that if cookstoves are used, people cut down mangrove forest and it ultimately results in deforestation. The carbon stored in Mangrove forests is four times more than carbon stored in other forests.
GGGI conducted a large number of workshops and site visits around Delta for discussing on reasons behind the low usage and distribution of fuel-efficient cookstoves in Myanmar. Cookstove manufacturers disclosed problems such as lack of marketing and promotion of a product. Furthermore, buyers told that design is inconvenient and users are not familiar with the benefits of the fuel-efficient cook stove. Moreover, they mentioned that rural communities do not have access to distributors.
GGGI presented various ideas to enhance distribution and utilization of fuel-efficient cookstoves across Delta. These ideas include connecting the proven carbon savings of fuel-efficient cook stove with distributed ledger or blockchain technology to access carbon credits from International Carbon Market.
This amazingly powerful technology can easily connect carbon emission savings of cook stove to Carbon Offsetting and Reduction Scheme for International Aviation and several other partners for manufacturing, certification, distribution, and implementation.
Blockchain technology is a distributed ledger technology that provides utmost security and decentralization. A decentralized system does not have centralized control. Blockchain technology can boost the growth of industries from various sectors like logistics, medicines, finance, and cryptocurrency.
Bitcoin is successful because of blockchain technology equipped in it. Blockchain technology has provided utmost security and decentralization to popular cryptocurrency bitcoin. A government organization in Thailand is using blockchain technology for e-voting while the bank of India is looking to use blockchain technology in ATM and other cash handling devices. It will make ATMs to execute additional types of transactions like gift transactions etc.