Bitcoin and Global Warming: The environmental impact of crypto cash
Ten years ago, an anonymous cryptographer laid out the principles of an online currency that would operate beyond the reach of governments and central banks.
Now, as the cryptocurrency gains momentum, climate researchers are worried about its massive environmental impact.
Bitcoin was supposed to solve the problems of analogue currencies. Instead, it created a new one: an enormous amount of global energy consumption that rivals the power usage of an entire country like Ireland.
According to findings of a new study, the implementation of this cryptocurrency could lead to enough emissions being produced so that global temperatures rise by 2 degrees Celsius by 2033.
The study, which was published in the journal Nature Climate Change, found that the hardware and electricity needs of Bitcoin alone could significantly impact climate change for the worse.
This story is from the December 2018 edition of Business Today Malaysia.
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This story is from the December 2018 edition of Business Today Malaysia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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