Happy Earth Day, blockbankers!
It’s now time we celebrate our planet and how crypto can become greener and less demanding of Mother Earth and her resources.
Crypto mining has been criticized for not being the most eco-friendly and for using lots of energy. With hydro, solar, and wind energy substitutes being explored, crypto experts are looking ahead to reduce energy consumed during mining and trading. (Using the power of flare gas at oil patches may just be another way to mint digital money). Other attempts at making the industry green ensure that the mining hardware in use doesn’t become obsolete as quickly and won’t need to be destroyed. Yet other efforts explore saving energy not used in trading and storing it as one would do in a battery.
Progress such as this demonstrates continued strides to ease away from fossil fuel dependency. With the rise of crypto’s popularity, already valued at some $2 trillion, the shift to move away from fossil fuel is essential.
Environmentally, paper money causes deforestation, but crypto has its shortcomings too. With time, however, crypto might just become greener than fiat. With that in mind, the blockbank team monitors these advances and promises to take the greener path to use less energy and protect our planet.