Why banking uses at least 56 times more energy than Bitcoin

Why banking uses at least 56 times more energy than Bitcoin

“Bitcoin uses 0.05% of world energy consumption. Banking uses 56 times more energy than Bitcoin,” Michel Khazzaka, a cybersecurity engineer and cryptographer, told Cointelegraph. The next time Bitcoin (BTC) comes under fire for energy consumption, remember this statistic. The banking industry uses at least 56 times more energy. That's according to cryptographer and founder of Valuechain, Michel Khazzaka: "I’m not saying it uses less or the same, just know it uses 56 times more than Bitcoin."The statistic, first shared by Michel Khazzaka in the summer, caused a stir in the Bitcoin and wider....


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