Fintech, digitalization and blockchain : possible applications for green finance

The objective of this chapter is to delineate the potential of fintech and blockchain to unlock the mobilization of green finance and to overcome respective barriers by explaining the key functionalities of applications including their key benefits and limitations. Fintech and blockchain facilitate access to new sources of finance and investment, from a larger investor base-especially from private investors. In addition, they operate in decentralized systems, bypassing traditional intermediaries such as banks or other financial institutions, decreasing costs and inefficiencies. Blockchain technology further enables effective monitoring, reporting and verification, increases transparency and accountability and reduces the risk of greenwashing. However, uniform standards and definitions for green finance as well as adequate legal and regulatory frameworks are still required.