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Expanding Bitcoin use will push global warming above 2C in two decades, finds study
(The Independent, 30 Oct 2018) 'Currently, the emissions from transportation, housing and food are considered the main contributors to ongoing climate change... this research illustrates that bitcoin should be added to this list'.
The ascent of bitcoin could boost global warming to 2C in just two decades, according to a new analysis.
Cryptocurrencies have emerged in recent years as a novel means of completing financial transactions online, but experts have become increasingly concerned about their environmental impact.
The demand such currencies place on the energy system are enormous, and this drives up carbon emissions which in turn add to the overall global warming effect.
In a new study that examined the entire chain of events that leads to the creation of bitcoins, researchers at University of Hawaii at Manoa examined how the projected growth of this cryptocurrency would harm the climate.
By way of comparison, the scientists compiled data on the uptake of 40 different technologies ranging from dishwashers and e-books to electric power and the internet.
They used this information to estimate the rate of uptake this cryptocurrency will see in the coming years.
The Independent, 30 Oct 2018: Expanding Bitcoin use will push global warming above 2C in two decades, finds study
