{"id":347377,"date":"2021-10-02T12:11:00","date_gmt":"2021-10-02T09:11:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-focus-of-the-blockchain-climate-discussion-is-missing-the-point\/"},"modified":"2021-10-02T12:11:00","modified_gmt":"2021-10-02T09:11:00","slug":"the-focus-of-the-blockchain-climate-discussion-is-missing-the-point","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-focus-of-the-blockchain-climate-discussion-is-missing-the-point\/","title":{"rendered":"# The focus of the blockchain climate discussion is missing the point"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bbefc17968\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bbefc17968\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/the-focus-of-the-blockchain-climate-discussion-is-missing-the-point\/#Leveraging_blockchains_strengths\" >Leveraging blockchain\u2019s strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/the-focus-of-the-blockchain-climate-discussion-is-missing-the-point\/#Decentralizing_the_energy_grid\" >Decentralizing the energy grid<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/the-focus-of-the-blockchain-climate-discussion-is-missing-the-point\/#Trustless_green_credentials\" >Trustless green credentials<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># The focus of the blockchain climate discussion is missing the point <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvZWU4OWU1NTYtYTAwYi00YmYyLTk3MzktM2I4MzJjZTZiYzNmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>As the nonfungible tokens craze took off at the start of the year, many climate-conscious artists vocalized their dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval of Ethereum\u2019s energy consumption. In May, Elon Musk then derailed Bitcoin (BTC), citing the energy consumed by Bitcoin as cause for Tesla to withdraw its plans to accept BTC as payment for its electric cars. <\/p>\n<p>Both of these events have provoked a surge of debate from inside and outside the blockchain community. In particular, the arguments tend to focus on two areas: Bitcoin\u2019s energy consumption and its dependency on climate-damaging fossil fuels versus renewables and, secondly, the benefits of one blockchain platform over another \u2014 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly focusing on consensus models and promoting proof-of-stake as the greener option. <\/p>\n<p>Each debate is overflowing with arguments for both sides. If the IPCC is right, then the need for drastic action to help reverse some of the damage cannot be overstated. To do that, the focus ought to be on the positive applications of blockchain.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Experts answer: How does Elon Musk affect crypto space?<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Leveraging_blockchains_strengths\"><\/span>Leveraging blockchain\u2019s strengths<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One significant way that blockchain\u2019s impact is already substantial is in its ability to crowdsource large amounts of otherwise wasted energy \u2014 which is aggregated and reignited for further utility. Crowdsourcing wasted energy is in keeping with the principles of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ellenmacarthurfoundation.org\/topics\/circular-economy-introduction\/overview\">circular economy<\/a>, which eliminates the throwaway culture, for recirculating available resources as much as possible. And computing power is one example. <\/p>\n<p>Whether it be on a personal laptop or a commercial server out of office hours, there\u2019s a vast amount of wasted idle computing power lying around on hardware, particularly when not in use. At the same time, there\u2019s a vast demand for computing power that\u2019s being met by companies like Amazon Web Services, which is continually building new data centers to accommodate this need. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>No, Musk, don\u2019t blame Bitcoin for dirty energy \u2014 The problem lies deeper<\/em><\/strong><\/p>\n<p>Blockchain networks, like Cudos\u2019 decentralized cloud computing platform, redirect spare computing power from idle computers and put it to better use, reducing waste in the process. Other networks like Filecoin or Bluzelle focus on storage services, but the principle remains the same.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Decentralizing_the_energy_grid\"><\/span>Decentralizing the energy grid<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Other projects are using this concept to decentralize energy networks. Brooklyn Microgrid is a hyper-local initiative allowing \u201cprosumers\u201d (producers and consumers) of solar energy to sell their surplus by funneling it into a microgrid where other participants can buy it. It\u2019s the kind of \u201cact local, think global\u201d project that proves anything is possible if you\u2019re willing to start from scratch. <\/p>\n<p>In Vienna, the government had previously funded an initiative allowing citizens to earn token-based rewards for identifying sources of heat waste that can be recycled back into the energy grid. A slightly different variation on the same decentralised theme, but uses the same principles of leveraging blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> for the greater good.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Trustless_green_credentials\"><\/span>Trustless green credentials<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Blockchain technology also has a fundamental role in bringing transparency and accountability to governments and corporations for their role in fighting climate change. Transparency in ESG (environmental, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> and governance) matters is currently high on the agenda for chief financial officers following the introduction of the EU Sustainable Finance Disclosure Regulation earlier this year. In its broadest terms, the regulation obliges banks and financial institutions to categorize their investment products according to their green credentials. <\/p>\n<p>Using blockchain to store and verify this information would increase visibility and vastly increase the level of trust that investors can place in products brandishing ESG credentials. It\u2019s quickly becoming easy to envisage a future where consumers and enterprises can make choices based on the algorithmic ESG ranking of any type of organization on the blockchain. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>How will blockchain technology help fight climate change? Experts answer<\/em><\/strong><\/p>\n<p>Being the \u201cleast bad\u201d blockchain platform will no longer suffice, and the community is far from helpless when it comes to the climate emergency. It has a powerful technology at its disposal, along with some of the best, brightest and most innovative thought leaders in the world. <\/p>\n<p>Clearly, blockchain technology can be applied to a myriad of positive use cases that give more to the green cause than they take away. And in doing so, blockchain technology makes a stronger argument for its applications in environmentalism than against them.<\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Matt Hawkins<\/strong> is founder and CEO of Cudo Ventures, a provider of global cloud computing and monetization software, and Cudos, a decentralized cloud computing network bridging the gap between the cloud and blockchain by recycling the world\u2019s idle computing power. He previously founded C4L in 2000, which was acquired in 2016 and was one of the U.K.\u2019s fastest data center ISPs, supporting around 1% of the U.K.\u2019s internet infrastructure, and was winner of many fast-growth awards, including: The Sunday Times Tech Track 100, Deloitte\u2019s U.K. Technology Fast 50 and Technology Fast 500 EMEA, and many more.<\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"consulting_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/the-focus-of-the-blockchain-climate-discussion-is-missing-the-point\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# The focus of the blockchain climate discussion is missing the point &#8221; As the nonfungible tokens craze took off at the start of the year, many climate-conscious artists vocalized their disapproval of Ethereum\u2019s energy consumption. In May, Elon Musk then derailed Bitcoin (BTC), citing the energy consumed by Bitcoin as cause for Tesla to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":347378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvZWU4OWU1NTYtYTAwYi00YmYyLTk3MzktM2I4MzJjZTZiYzNmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74894,74872,90652,10595,76751,4965,70850],"class_list":["post-347377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-blockchain","tag-green-technology","tag-greenergy","tag-environment","tag-sustainability","tag-technology","tag-united-nations"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/347377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=347377"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/347377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/347378"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=347377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=347377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=347377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}