Article: Bitcoin’s carbon footprint could be offset by blockchain’s green applications, experts say

Blockchain, Crypto, Innovation

A worker at the Bitfarms cryptocurrency mining operation in Farnham, Quebec. The company has five sites in Canada.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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Article: Busting Bitcoin myths: 7 misconceptions about the cryptocurrency

Crypto, Money

Busting Bitcoin myths: 7 misconceptions about the cryptocurrency

Bitcoin’s recent surge has reawakened old animus in the media. “The trouble with Bitcoin: Why the crypto craze can’t last,” read a recent headline in the Globe and Mail, a Canadian newspaper.

To be sure, Bitcoin can be polarizing. Bitcoin diehards claim the cryptocurrency will soon replace gold, all government-backed money, and credit cards, as well as turn the banking system on its head. Rational exuberance aside, that is unlikely to happen, at least in the short term. On the flip side, media critics often badly mischaracterize Bitcoin as nothing more than a speculative tool, an environmental disaster, a bubble, or worse.

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Article: Will Blockchain Disrupt Government Corruption?

Blockchain, Governance

Will Blockchain Disrupt Government Corruption?

At its core, the problem blockchain seeks to address is to ensure the security and integrity of information at a time when there is increasing concerns about data privacy and declining trust in government. It is a technology that allows one to record assets, transfer value, and track transactions in a decentralized manner, ensuring the transparency, integrity, and traceability of data without a central authority to authenticate the information. It is essentially a system to encrypt information and a shared database. It is based on a consensus mechanism amongst trusted parties to certify the information and validate transactions.

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