The United Nations Global Compact intends to assist corporations in achieving the UN’s Sustainable Development Goals. “We are thrilled to collaborate with Enjin to study the manner in which blockchain and NFTs might help to the accomplishment of the United Nations Sustainable Development Goals,” said Irakli Beridze, Head, Centre for AI and Robotics, United Nations. While we work to recoup from the worldwide epidemic and its consequences, technological advances such as AI and blockchain continue to grow at an exponential rate.”
“Now, even more than before, we must seize and utilize the capabilities of these technological advances to guarantee that we are better suited and more unified in the future to make our world a more habitable, fair home for all.” Enjin capitalizes on the growing trend for non-fungible tokens (NFTs). Everyone can utilize NFTs thanks to this blockchain-based initiative.
Enjin provides a full product suite that allows customers to “develop, incorporate, trade, and disburse” NFTs at practically no cost. The crypto government is rapidly focusing on implementing long-term solutions. This comes in the wake of China’s recent curb on cryptocurrency mining activities in the nation.
Enjin’s relationship with the UN Global Compact could never have arrived at a better moment, given this rising awareness of sustainability. In the forthcoming decade, crypto-based environmental solutions have the ability to unleash billions of dollars in value.
Numerous market experts, nevertheless, have voiced worry about the carbon footprint created by the production of NFTs. Enjin has also created the eco-friendly JumpNet blockchain platform to solve this issue. This has a lot of potential for decarbonizing NFTs on Ethereum.
The Enjin JumpNet blockchain, according to Enjin, uses 99% lower power than Ethereum. Enjin is also overhauling Efinity, a shared Proof-of-Stake (PoS) parachain atop Polkadot, while rendering the JumpNet blockchain carbon neutral. Enjin CEO Maxim Blagov commented on the development, saying, “At Enjin, we’re building a sustainable ecosystem to build a better world utilizing NFTs.”
“Becoming a stakeholder in the UN Global Compact underlines our dedication to using blockchain technology to raise the standard of living of people, and it will guarantee that these initiatives are sustainable, concentrated, and maximized while also holding us responsible to the public.”
Enjin stated that it will look at new methods to employ NFTs in the UN’s fairness and sustainability objectives. Enjin thinks that their technology has the potential to be a game-changer in the battle against climate change. Enjin partnered with Health Hero to introduce the NFT-powered Wellness App in June.