Bitcoin’s carbon footprint could be offset by blockchain’s green applications, experts say
Some experts believe blockchain technology (a type of digital ledger technology, or DLT) could help tackle climate change, rather than contribute to it.
To understand how and why, you need to get your head around how blockchain works.
Put (very) simply, it is a database of transactions and rules, but instead of it being held in one central location, it is replicated on a “distributed network” of member computers.
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Harnessing the green power of blockchain
While mining Bitcoin can be harmful to the environment due to its large consumption of electricity, the technology behind the cryptocurrency could help tackle climate change. Redmond Shannon explains how some organizations are harnessing the green power of blockchain.
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