Carolina
Mon Jul 08 2024
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5 answers
938
Are crypto-assets affecting climate commitments?
In recent years, the explosive growth of crypto-assets has garnered significant attention from both investors and regulators. However, amidst this frenzy, a pressing question remains: Are crypto-assets truly aligned with our global climate commitments? The mining process for cryptocurrencies, especially those based on Proof-of-Work consensus mechanisms, is notorious for its energy-intensive nature. As the industry continues to expand, the environmental impact of this process becomes increasingly alarming. So, the question begs to be asked: Are we sacrificing our environmental goals for the promise of financial gains? Is it possible to have both a robust crypto-ecosystem and a sustainable future? These are crucial questions that we must address as we navigate the complex intersection of finance and climate change.
