By: Lcda. Arianna F Naveda, Inspenet. June 21, 2022.
Cryptocurrencies have gained popularity and trust around the world over the last decade. What began as an unusual strategy has become the preferred economic alternative. However, crypto mining is not friendly to the planet.
According to the most recent statistics, to generate cryptocurrencies, the “farms” or data centers made up of hundreds of computers to “mine” must be active 24 hours a day, 365 days a year in order to generate the calculations that the system request and produce cryptocurrencies.
The demand for each crypto is different. In the case of Bitcoin, about 204 terawatt hours of electricity are used per year. This represents the consumption of all of Thailand and its negative effect on the environment is almost equal to the pollution generated by an entire country, such as the Czech Republic, according to Digiconomist data.
The problem with this system, which has been very lucrative, is that its energy source comes from fossil fuels, so it has become urgent to change methods. Otherwise, cryptocurrency mining will become part of a bigger problem.
Given this situation, several proposals arise, such as the Green Coin or green currency, an initiative of the EcoConciencia Foundation and the International Training Center for Authorities and Leaders (Cifal) Argentina, an agency dependent on the United Nations Organization (UN), and which is backed by the Luxembourg Energy Transition Fund.
According to Rodolfo Tarrauebella, director of the foundation and of Cifal Argentina, the mining process in this case awakens the need to reduce greenhouse gas emissions and compliance with the Sustainable Development Goals, through strategies such as fuel loading of energy transition, which would help reduce the emission of CO2 .
The vertiginous increase in cryptocurrency “mines” in Argentina has raised the concern of many environmentalists who are betting on these alternatives that are less harmful to the environment and that could help the economy evolve towards a greener future.
Editor: Lcda. Arianna Flores Naveda.
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