Abstract:

In recent years, the integration of blockchain technology into Corporate Social Responsibility (CSR) practices has gained significant attention due to its potential to address transparency, accountability, and sustainability challenges in business operations. Blockchain, with its decentralized nature, offers a secure and immutable platform that allows organizations to track, verify, and share data related to their CSR initiatives in real time. This level of transparency enhances trust among stakeholders and provides a reliable way to demonstrate a commitment to ethical and sustainable business practices. Blockchain technology is emerging as a transformative tool for enhancing Corporate Social Responsibility (CSR) practices, offering innovative solutions to foster transparency, accountability, and sustainability. By providing a decentralized, immutable ledger, blockchain ensures that CSR-related activities are traceable, verifiable, and free from manipulation, thereby building trust among stakeholders and mitigating issues such as fraud and resource misallocation. This study explores the potential of blockchain technology to transform Corporate Social Responsibility (CSR) practices, focusing on its role in promoting transparency, accountability, and sustainability. Blockchain’s decentralized and immutable ledger enables organizations to track and verify transactions, enhancing trust among stakeholders and ensuring ethical business practices. The study identifies key blockchain innovations such as smart contracts, decentralized finance (DeFi), and energy-efficient consensus mechanisms that contribute to achieving the United Nations Sustainable Development Goals (SDGs). However, the adoption of blockchain in CSR initiatives faces challenges including regulatory uncertainty, integration complexities, scalability issues, and privacy concerns. To overcome these barriers, the research offers strategic recommendations, such as the adoption of energy-efficient blockchain solutions, the integration of smart contracts, and enhanced stakeholder education. This paper contributes to understanding how blockchain can be leveraged to create a sustainable and efficient CSR ecosystem, aligning business operations with global sustainability objectives.

Description:

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