Enormous energy consumption has barely reduced despite $1tn being wiped off the sector
The crypto crash will not reduce the sector’s climate impact any time soon, an economist has warned, even though the environmental footprint of digital currencies is in theory set by their market value.
“Unless bitcoin collapses further, there’s no reason to expect a decrease in environmental impact,” said Alex de Vries, a data scientist at the Dutch central bank and the founder of Digiconomist, which tracks the sustainability of cryptocurrency projects.
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Enormous energy consumption has barely reduced despite $1tn being wiped off the sector
The crypto crash will not reduce the sector’s climate impact any time soon, an economist has warned, even though the environmental footprint of digital currencies is in theory set by their market value.
“Unless bitcoin collapses further, there’s no reason to expect a decrease in environmental impact,” said Alex de Vries, a data scientist at the Dutch central bank and the founder of Digiconomist, which tracks the sustainability of cryptocurrency projects. Continue reading…Technology | The Guardian