Toward a greener future: A survey on sustainable blockchain applications and impact

• Published in: Journal of environmental management 2024-03, Vol.354, p.120273, Article 120273
• Main Authors: Rani, Pritam, Sharma, Pratima, Gupta, Indrajeet
• Format: Article
• Language: English
• Subjects: Applications; Blockchain; Conservations; Energy-efficient; Environmental sustainability; Sustainable
• ISSN: 0301-4797; 1095-8630; 1095-8630
• DOI: 10.1016/j.jenvman.2024.120273

Blockchain Technology has garnered significant attention due to its immense potential to transform the way transactions are conducted and information is managed. Blockchain is a decentralized digital ledger that is spread across a network of computers, ensuring the secure, transparent, and unchangeable recording of transactions. However, the energy consumption of certain blockchain networks like Bitcoin, Litecoin, Monero, Zcash, and others has generated apprehensions regarding the sustainability of this technology. Bitcoin alone consumes approximately 100 terawatt-hours annually, contributing significantly to global carbon emissions. The substantial energy requirements not only contribute to carbon emissions but also pose a risk to the long-term viability of the blockchain industry. This study reviews articles from eight reputable databases between 2017 to August 2023, employing the systematic review and preferred reporting items for systematic reviews and meta-analyses approach for screening. Therefore, explore the applications of sustainable blockchain networks aimed at reducing environmental impact while ensuring efficiency and security. This survey also assesses the challenges and limitations posed by diverse blockchain applications regarding sustainability and provides valuable foresight into potential future advancements. Through this survey, the aim is to track and verify sustainable practices, facilitating the transition to a low-carbon economy, and promoting environmental stewardship, with a specific focus on highlighting the potential of sustainable blockchain networks in enabling secure and transparent tracking of these practices. Finally, the paper sheds light on pertinent research challenges and provides a roadmap of future directions, stimulating further research in this promising field. •Preferred Reporting Items for Systematic Reviews and Meta- Analyses (PRISMA Study).•Identification of Sustainable Blockchain Use Cases.•Sustainable Blockchain Challenges and Opportunities.•Blockchain for Transparent Sustainability Tracking.•Future Research Directions.