Blockchain technology stands tall when considering its impact on social issues. One such cohort can be a corporate’s take on corporate social responsibility (CSR). This not only builds trust with respective clients but also boosts transparency.
The emergence of blockchain has led to changes and implementations across the globe within many sectors. From securitate cibernetică la jocuri, all have incorporated blockchain in one way or another.
The corporate sector, in particular, has been fairly successful in separating the practical uses of the blockchain from the hype surrounding cryptocurrency and speculation. Many corporations and companies across the globe are starting to focus more time and energy on using blockchain technology for ‘corporate social responsibility’ (CSR).
At this point, CSR has become more than just a marketing strategy to promote a company. Fighting against global warming is probably the biggest example of CSR in recent times. Per a recent global CSR raportează, around 86% of respondents expected companies to participate in CSR-led changes focussing on social and environmental issues.
CSR in the Supply Chain
Consumer brands have also invested a significant chunk of their total budgets in driving CSR initiatives. The global CSR activities market for the software sector is proiectat to reach $1.4 billion by 2028. Meanwhile, the global sustainability consulting market is projected to ajunge nearly $12 billion by 2028.
CSR aims to minimize the environmental impact across all activities of a supply chain. Blockchain provides governance and accountability throughout the supply chain.
Typical issues with supply chain management include the need for more transparency between entities and discrepancies in records. This makes it hard for the end customer to gauge the sustainability or impact of a particular product.
How Can Blockchain Help?
Because it is transparent, permanent, and immutable, blockchain technology establishes accountability and provides legitimacy to all parts of the supply chain. This helps preserve CSR’s genuineness instead of companies just using it as a marketing gimmick to get positive public relations.
Source: https://beincrypto.com/can-blockchain-technology-bolster-your-companys-corporate-social-responsibility/