ABSTRACT. Green blockchain governance aims at harmonizing decentralized technologies with environmental objectives in order to enhance sustainability. The study embarks with the idea of how blockchain can aid in making ecological practices, though considering the environmental issues on blockchain. The advantages of blockchain include transparency within the supply chain that leads to ethical sourcing and lesser waste. It also assists in carbon credit trading and management of renewable energy contributing to realization of world sustainability. Nonetheless, blockchain consumes a lot of energy, particularly, in systems, such as Proof-of-Work that form a serious problem on the environment, raising the level of carbon emissions. This paper explores more environmentally friendly solutions, including Proof-of-Stake with a lower energy consumption and governance systems, e.g. decentralized autonomous organizations with a higher focus on sustainability. When surveying 52 people, it is evident that awareness of environmental impacts of blockchain is quite high and that 73 percent of people perceive that environmental impact is an important factor, and 69 percent consider that energy consumption is a main concern. Also, only 61 percent are aware of the advantages of more eco-friendly mechanisms, which proves the lack of knowledge and 75 percent think that blockchain can help with sustainable development accomplishments. The study marks issues such as the absence of international requirements and regulation frameworks that impair sustainable blockchain integration. It also highlights the possible role of blockchain in uniting with such technologies as AI and IoT to streamline resources and emissions.

Keywords: green blockchain; sustainability; governance; Proof-of-Stake; decentralized technologies; environmental impact; Sustainable Development Goals

How to cite: Hysa, E., Ciurlău, C. F., and Tudosă, P. (2023). “Green Blockchain Governance: Aligning Decentralized Technologies with Environmental Goals,” Smart Governance 2(4): 55–70. doi: 10.22381/sg2420234.

Received 11 July 2023 • Received in revised form 21 December 2023
Accepted 24 December 2023 • Available online 28 December 2023