by Sw18Sw18 » Thu May 20, 2021 12:04 am
Crypto currencies may actually use less energy than traditional banking systems. (Can’t use links here but have a google)
Banks are already using blockchain solutions to drive efficiencies and lower their carbon footprints.
Not all coins are created equal, some are mined others use proof of stake. Elon Musk was right to raise concerns re spam spam spam (admin will delete when they see this!)’s environmental impact and I think this will cause developers to create ‘greener’ solutions going forwards.
I think blockchain technology will be adopted by central banks pegged to their currencies ie a pound would be digitally minter into a equivalent, it will be greener than their current systems and may reduce tax fraud as the blockchain records all transactions. I love that crypto technology can provide solutions for those without access to banks; as a granddaughter of a refugee I feel it’s important for people to be able to safely store and transport their wealth.
But.... I also have come to the conclusion that current crypto market is very broken, it’s been a good way to prove the tech works, but for any currency to be useful it needs to be stable as these currencies can fluctuate by 30% in a day they are not fit for purpose.
Crypto currencies may actually use less energy than traditional banking systems. (Can’t use links here but have a google)
Banks are already using blockchain solutions to drive efficiencies and lower their carbon footprints.
Not all coins are created equal, some are mined others use proof of stake. Elon Musk was right to raise concerns re spam spam spam (admin will delete when they see this!)’s environmental impact and I think this will cause developers to create ‘greener’ solutions going forwards.
I think blockchain technology will be adopted by central banks pegged to their currencies ie a pound would be digitally minter into a equivalent, it will be greener than their current systems and may reduce tax fraud as the blockchain records all transactions. I love that crypto technology can provide solutions for those without access to banks; as a granddaughter of a refugee I feel it’s important for people to be able to safely store and transport their wealth.
But.... I also have come to the conclusion that current crypto market is very broken, it’s been a good way to prove the tech works, but for any currency to be useful it needs to be stable as these currencies can fluctuate by 30% in a day they are not fit for purpose.