What Bloomberg Gets Wrong About Bitcoin’s Climate Footprint
The comparison between Bitcoin and Visa's energy use, reached several highly misleading conclusions, our columnist says.
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In the latest Cointelegraph video debate, experts discuss pathways towards making Bitcoin more sustainable. In the latest Cointelegraph Crypto Duel, founder of Digiconomist Alex de Vries and CEO and founder of Blockchain for Climate Joseph Pallant debated the intensity of Bitcoin’s footprint and possible paths forward to reduce it. As pointed out by de Vries, Bitcoin’s energy consumption has been increasing together with its network. The analyst predicts its carbon footprint could increase tremendously as Bitcoin gets closer to mass adoption.“I fear that this will quickly get completely....
Gemini has partnered with a nonprofit to purchase carbon permits from government-related cap-and-trade markets and erase them from circulation. Gemini, a major cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is responding to Bitcoin’s (BTC) environmental issue by purchasing carbon credits. On Thursday, the company announced its long-term initiative to incorporate climate-conscious measures into its business, launching a collaboration with Climate Vault, a nonprofit founded at the University of Chicago.Through the initiative, Gemini plans to purchase carbon credits for....
VeChain has announced a new blockchain initiative designed to help businesses openly track and report their carbon emissions data. Supply chain management platform VeChain has announced a new service for combining businesses to overhaul their carbon footprint data management practices.The new service, detailed in a Medium post on Thursday, combines decentralized ledger technology with a software-as-a-service (SaaS) business model.The Digital Carbon Footprint SaaS Service “allows enterprise users to log key data and integrate it with world-leading third party assurance providers within....
Because of Bitcoin, blockchain’s impact on the climate has come into sharp focus. But can this technology actually be part of the solution for saving the environment? Elon Musk captured the world’s attention when he declared that Tesla would no longer accept Bitcoin as a payment method, citing the blockchain’s environmental impact.Although this thrust the debate about cryptocurrencies and the climate into the spotlight, this has been an issue that has been rumbling on for many years.Bitcoin’s proof-of-work consensus mechanism is exceedingly energy intensive, and it seems to be a problem....
The Iota Foundation joined Dell along with ClimateCHECK and BioE to fight climate change using real-time carbon footprint data. Iota Foundation, a non-profit distributed ledger technology ecosystem provider, partnered with tech giant Dell Technologies to develop a data-driven solution for the real-time tracking of carbon footprints. Edge solutions from Dell Technologies announced the onboarding of Iota, climate-change-focused technology company ClimateCHECK, and BioE, to develop a solution on top of Dell’s in-house initiatives: Data Confidence Fabric (DCF) and Project Alvarium.We've....