Friday, September 30

Sustainable cryptocurrencies: the new vein of the Blockchain

Even though some sustainable crypto mining projects already exist, they still continue to consume too much energy. This is why Ethereum, the second best-known cryptocurrency after Bitcoin, will soon abandon traditional mining to change it for a system called ‘proof of stake’, from English proof-of-stake, with the aim of consuming 99.5% less energy. The proof-of-stake does not consume so much electricity because it does not need such powerful calculation units, but uses computers that are almost the same as normal ones.

Options such as carbon credits (a marketable certificate that represents the elimination of one ton of carbon dioxide equivalent emissions (TnCO2eq)) generate controversy since they are seen by specialists such as Jennifer Morgan, CEO of Greenpeace, as ‚Äúpure ecological makeup ” which enables companies to “do what they have been doing and make a profit.”

What, then, would be a viable alternative that is located halfway between clearly opposite positions? Using more renewable energy seems to be an acceptable approach.

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

While, The crypto world does not stop producing news and among them we can see a new type of digital currency that promises to revolutionize investments through green or ecological cryptocurrencies, as is the case of GBM coin, a new cryptocurrency that aims to contribute to improving 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 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, while ensuring the sustainable and sustained growth of operations while minimizing the impact they have on the ecosystem.

Teacher of the Bachelor of Business Management at ITBA.