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Environmentally smart contracts for artists using non-fungible tokens

Abstract
We propose Environmentally Smart Contracts, a new kind of smart contract for non-fungible tokens to solve the prudential-moral dilemma facing digital artists. The current proof-of-work-dominated non-fungible token environment requires artists to trade off the prudential benefits and the environmental costs of selling their art on blockchains. By fully correcting for environmental externalities, Environmentally Smart Contracts will allow artists to reap the sales benefits of non-fungible tokens without contributing to environmental degradation. Concrete steps to encourage the development of Environmentally Smart Contracts are discussed.
Type
Conference Contribution
Type of thesis
Series
Citation
Date
2021
Publisher
IEEE
Degree
Supervisors
Rights
© 2021 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.