2min chapter

Behind the Money cover image

Blockchain seeks a role in fighting climate change

Behind the Money

CHAPTER

Using the Block Chain to Tokenize Carbon Offsets Just Makes More Carbon

A company could run the risk of holding a carbon credit that is bad for their image. And then there's the matter of how much energy it takes for crypto and block chain transactions to happen. Bicoin, for example, requires a lot of computing power which often runs on cold generated electricity. So wouldn't using the block chain to tokenize carbon offsets just make more carbon? Yes, this is yet another confusing piece of the puzzle a crypto current season.And block chains can have big corbon footprints themselves. Now a lot of these newer groups would say what they're doing is much more sustainable or much less energy intensive than,. for example, bitcoin ar they use different systems.

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