One of the main struggles scientists and environmentalists have faced in their fight against climate change is to encourage others to take action. Oftentimes, it is only climate activists that advocate for systemic changes, making the need for action seem less urgent.
SeaChain, a start-up social enterprise, has discovered a possible solution to this pertinent issue: building platforms that bring together various unrelated groups and environmentalists. More specifically, their organization is “designed to be the missing link connecting crypto investors, gamers and environmentalists on behalf of the ocean” (SeaChain).
The significance of the ocean is often not fully comprehended by society at large. When discussing plastic pollution, emphasis has generally been put on conserving marine life. However, the reality is that “50-80% of CO2 to O2 conversion happens inside the ocean,” making it an important resource in the carbon cycle (SeaChain). When plastics come to the surface they can block key resources like sunlight from reaching lower parts of the ocean floor. Further, leachate from plastics can disturb reproduction and photosynthetic efforts by phytoplankton and bacteria.
The question is how does this organization manage to bring together such different groups with diverse focuses, as well as contribute to marine conservation.
The money contributed by investors of the SeaChain token is used by the organization to develop games and a software distribution model known as SaaS, from which the profit is contributed toward preventing plastic pollution. Further, each transaction on the SeaChain network carries a 10% “Tax” which contributes towards further development, increasing liquidity, marketing, and funding for plastic pollution.
In addition, as a decentralised, community-driven foundation, they allow stakeholders to influence their projects on the platform Snapshot.SeaChain isn’t merely donating to the cause, but rather identifying a specific and immediate solution to plastic pollution: river barriers. “80% of all trash that enters our Oceans comes from only 1,000 rivers” (SeaChain). Therefore, by building low-cost barriers that block the traffic of plastic entering the ocean, the negative impact can be decreased. Further, the collected plastic can be re-used, limiting our production of new plastics. Their efforts have already prevented 100 tons of trash from entering the ocean.
Through their games, which use the SeaChain currency, this organization not only benefits from the transaction volume from Decentralised Finance (DeFi) NFT Games but is also able to integrate informational features about endangered species to educate users.
SeaChain has been able to ensure its system is sustainable by using the BSC Network which has a low impact on the environment for its climate-positive blockchain. Their goals for the future include developing a green-blockchain network that can provide more features for the fight again plastic pollution, partnering with companies that use recycled plastic, and buying plastic from populations near polluted rivers.
SeaChain is unique for its scalable “new business model that allows investors to venture into the nonprofit market” (SeaChain). Their organization serves as an example of how we expect the business world to develop over the next few years. As social enterprises have become more popular recently, with new technologies we will also see new business models that will grow increasingly popular.
This post is compiled and written by @Sarina Uttam- Corpstage