TAILIEUCHUNG - Cryptocurrency and climate change: An overview

The study recommends that further development in cryptocurrencies should analytically aim to reduce power demand so as to avoid the potentially demoralizing consequences of 2OC of global warming. | Cryptocurrency and climate change An overview International Journal of Mechanical Engineering and Technology IJMET Volume 11 Issue 3 March 2020 pp. 15-22 Article ID IJMET_11_03_003 Available online at http ijmet JType IJMET amp VType 11 amp IType 3 Journal Impact Factor 2020 Calculated by GISI ISSN Print 0976-6340 and ISSN Online 0976-6359 IAEME Publication CRYPTOCURRENCY AND CLIMATE CHANGE AN OVERVIEW Egiyi Modesta Amaka Godfrey Okoye University Nigeria Ofoegbu Grace Nyereugwu Department of Accountancy Faculty of Business Administration University of Nigeria Nsukka Nigeria ABSTRACT Cryptocurrencies in recent years have emerged as an innovative means of carrying out online financial transactions but concerns have been raised among experts about their impact on our environmental. Cryptocurrencies place enormous demand on the energy system and this increases carbon emissions which sequentially adds up to the overall effects of global warming. However the technology that powers bitcoin blockchain should be considered for future adoption. The environmental hazard regarding cryptocurrency usage stems from the large carbon footprint left by such small share of global cashless transactions and its potential to be broadly integrated into current technologies. This study examines the impact of cryptocurrency on the environment with its focus on climate change Global warming . Although the fate of bitcoin is currently unpredictable it can be projected that if its rate of adoption is accelerated its electricity demand is capable of producing sufficient emissions to surpass 2 C of global warming in a few decades. The study recommends that further development in cryptocurrencies should analytically aim to reduce power demand so as to avoid the potentially demoralizing consequences of 2OC of global warming. Keywords Cryptocurrency Climate Change Block Chain. Cite this Article Egiyi Modesta Amaka and Ofoegbu Grace Nyereugwu .

• Môi trường
• Cryptocurrency and climate change
• The potentially demoralizing consequences
• The technology that powers bitcoin
• The potentially demoralizing consequences
• Producing sufficient emissions