On Earth Day, Mysten Labs Joins With Industry Luminaries Proposing Novel Use of Blockchain Technology to Preserve Global Biodiversity

Accepted for presentation at the second annual Business for Blockchain Technology conference, the research work offers a groundbreaking, detailed framework for using blockchain technology to address critical needs in global conservation efforts.

PALO ALTO, Calif., April 22, 2024 /PRNewswire/ -- On Earth Day, the Mysten Labs team is excited to announce their contribution to revolutionary research showing how blockchain technology can help conserve biodiversity.

The academic paper, "Preserving Nature's Ledger: Blockchains in Biodiversity Conservation," authored by experts from Mysten Labs, Stanford University, and other leading research institutions, was accepted for presentation at the 2024 Business for Blockchain Technology Conference at University of Miami on May 17 and 18th.

The new research demonstrates how blockchain technology can revolutionize efforts to save global biodiversity. In particular, it illustrates potential innovative methods of tracking and conserving natural resources using blockchain technology that could be employed successfully on sufficiently scalable, efficient platforms like Sui and a few others. The paper highlights blockchain technology's unique ledger, tokenization, and oracle features as a way to reach consensus and guarantee data permanency and trustworthiness, outlining a completely new approach to transparent, auditable conservation.

The paper's authors include Kostas Kryptos Chalkias, Ryan Servatius, John Naulty, and Ali Alnuaimi from Mysten Labs, Angelos Kostis from Stanford University, Peter Knez from Nobel Sustainability Science Academy and InCapture Group, and Allen Salmasi from Veea.

"High-throughput blockchains, artificial intelligence, and the Internet of Things could create a unique and potent synergy, providing unparalleled opportunities to safeguard our planet," said Angelos Kostis, a postdoctoral scholar at Stanford University.

"Blockchain technology and others only developed in the last couple of years offers the only viable solution to some of the most severe, pressing environmental issues of our time," said Kostas Chalkias, Co-founder and Chief Cryptographer at Mysten Labs, which originated the Sui Network. "With its lightning-fast, decentralized, and open network, Sui is one of a few networks that could offer all parties a transparent view of the state of environmental assets, which is foundational to driving global ESG efforts."

To download and read the paper, please visit https://arxiv.org/abs/2404.12086.

About Mysten Labs
Mysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose founders were senior executives of Meta's Novi Research and lead architects of the Diem blockchain and Move programming language. The mission of Mysten Labs is to create foundational infrastructure for web3. Learn more: https://mystenlabs.com

About Sui
Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing user-friendly experiences. For more information about Sui, please visit https://sui.io.

SOURCE Mysten Labs