Nevertheless, the benefits of Web3 technologies in easing this transition period should not be underestimated. By providing a robust system for data verification, a system based on content-addressed data could mitigate potential fines companies may face for non-compliance. For the new EU regulations, if a company fails to carry out quality controls, it could be fined up to 4% of its total annual turnover. A 4% loss of total annual turnover is a significant deterrent, making the investment in Web3 technologies an economically sound decision.
Web3 Is a Game Changer in ESG Compliance
