The accelerated growth of the Bitcoin cryptocurrency is driving the emergence of new digital currencies and, hand in hand with blockchain technology, alternatives are emerging that seek to offer users benefits that go beyond the returns on their investments.

Es sabido que una de las principales críticas que tienen las criptomonedas es el impact that their mining generates on the environment, since all the operations carried out to ensure their operation require high energy consumption. According to the Cambridge Center for Alternative Finance (CCAF) at the University of Cambridge, Bitcoin accounts for 0.37% of the total global electricity production and 0.43% of its consumption, which means that the entire network consumes more electricity than Finland, Belgium or Chile, among other countries.

Although some sustainable crypto mining projects already exist, they still continue to consume too much energy. This is why Ethereum, the second most popular cryptocurrency after Bitcoin, will soon abandon traditional mining in favor of a system called ‘proof-of-stake’, with the aim of consuming 99.5% less energy. Proof-of-stake does not consume as much electricity because it does not need such powerful computing units, but uses computers that are almost the same as normal ones.

Options such as carbon credits (tradable certificate representing the elimination of one ton of carbon dioxide equivalent emissions (TnCO2eq)) generate controversy as they are seen by specialists such as Jennifer Morgan, CEO of Greenpeace, as “pure greenwashing” that allows companies “to do what they have been doing and make profits.”

What, then, would be a viable alternative that is midway between clearly opposing positions? It seems to be an acceptable approach to use more renewable energy.

Sarah Manski, associate professor at George Mason University’s School of Business, “not all carbon reductions are equal and that some are more transparent than others.”

Meanwhile, the crypto world does not stop producing novelties and among them we will be able to see a new type of digital currency that promises to revolutionize investments through green cryptocurrencies, as is the case of GBM coin, a new cryptocurrency that aims to contribute to the improvement of the environment. With GBM coin, each user who acquires a token will be able to collaborate with the preservation of one m2 of native biosphere, out of a total of one million hectares in ten countries around the world.

As a professional and teacher in the sector, I see it as essential to encourage the use of new technologies and innovations that collaborate with the care of the environment, through IT solutions based on safe and quality technologies that enable the efficient use of financial resources, space and energy, and at the same time ensure the sustainable and sustained growth of operations while minimizing the impact they have on the ecosystem. Translated with (free version)

Source: Ámbito