Since their genesis, crypto-currencies have been the object of attention by political groups, as well as recognized firms of economic and technological power, fundamentally because, according to these sectors, crypto-currencies represent a threat to world financial institutions, basically because they facilitate financial transactions without the need for centralized regulation of states and banking institutions.
Fig. 2 Crypto-currencies do not depend on the centralized regulation of States and banking institutions. Image of public domain, Author: Myriams, 2017
Now then, in addition to the constant pointing out and pressures made by the political, economic and technological sectors, the most delicate element that has arisen in recent years around crypto-currencies, has to do with the debates of an environmentalist nature that have been taking place, and proof of this are the repeated internal discussions of ecological groups, this because, it is proposed that mining activity, and its relationship with the use of electricity contributes considerably to environmental deterioration, and therefore with climate change.
Fig. 3 Research should be developed to determine the actual balance or impact that crypto-currencies generate to the environment. Image of public domain, Author: Myriams, 2017
Amongst the great concerns, regarding the acute irruption of crypto-currencies and their disproportionate use of electrical energy, it is justified precisely because, since the mining of crypto-currencies began almost two decades ago, energy consumption has increased by an estimated 30% on a global scale.
The truth is that there is a high consumption of cryptographic energy, however, while this is already a reality essentially because the mining of crypto coins, to ensure that technological devices produce the mining codes tend to use large amounts of electricity, this because, they must be turned on for long periods, however, research must be generated to provide real data, to determine whether in fact the mining of crypto coins has real impacts on climate change.
Fig. 4 According to the appreciation of environmental groups, digital mining is one of the main threats around the cryptosystems. Image of public domain, Author: Myriams, 2017
To determine if in effect the mining of crypto-currencies has real impacts on climate change, it is necessary to include positive variables related to the world of crypto-currencies, and that to date are little mentioned as, for example, the use of crypto-currencies can reduce deforestation of forests for the manufacture of conventional paper money, and bring to zero the energy used by the millions of banking establishments in the conventional financial system.
Fig. 5 Photovoltaic systems represent a viable and clean alternative for the mining of cryptosystems. Image of public domain, Author: Myriams, 2017
Furthermore, to the already mentioned positive variables associated to crypto-currencies in environmental matters, we must add that in the world of cryptography ecological strategies are already being promoted, such as the use of renewable energies through the incorporation of mining farms that work with photovoltaic plants, so the expectations of massive adoption of ecological crypto-currencies are more favorable than negative.
BIBLIOGRAPHICAL REFERENCES CONSULTED:
[1] Oliver R. Bitcoins, el ‘Supervillano’ virtual del Medio Ambiente. 2020. Article: Online access
[2] Zorrilla A. Bitcoin, ¿enemigo del cambio climático?. 2019. Article: Online access
[3] Ruíz A. ¿Puede una criptomoneda ser ecológica?. 2018. Article: Online access
OBSERVATION
One of the things I have really come to discover is the fact that government seems to be fighting the crypto world but it is not really possible for them to succeed actually and which they actually knows that
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