Addressing Misinformation Surrounding Bitcoin
Many crypto pundits are confused about the subject of cryptocurrency and green energy. As bitcoin is characteristically demonized regarding the issue, brought on by the media, constantly revealing dark abandoned warehouses of unprofessionally managed server rooms harboring illegal crypto mining operations. If you think running fifty-eight-thousand simultaneous cpus or gpus to the tune of an aircraft hangar isn't green, well you have to consider the offset to related energy being used for the utility being provided.
An important point often overlooked is that yes Bitcoin is energy intensive, but it is serving a relative purpose. Considering it harnesses a payment network with similar servers and resources that can accommodate countervailing of energy distribution from the smart grid. Maintaining a global initiative that can monitor and control locations of mining farms around green energy plants in solar, wind, water, etc. As we move toward the future new resources and advancements in fusion reactors could eventually lead to even greener innovations for powering the blockchain.
Reducing Peak Energy Demand
Enabling the smart grid for urban maintenance and structural building systems should be a primary issue. The way this could potentially play out for dense cities where parking and tolls are necessary, graphing out areas that are highly populated, and processing that information to further expand on what we can do to reduce carbon footprints in these areas. Creating cost based opportunities that over time will smooth the offset of moving energy resources effectively allowing more efficiency and reliable operation of the core way of how modern cities, or a theoretical ultra modern Citadel would operate. Currently modern Energy Reduction Assets (ERAs) could be represented digitally allowing more efficiency and cost reduction to the smart grid.
Of course a big part of this next big step or evolution in IoT (Internet of Things) where everyone and everything is connected will be blockchain based. Banks, lenders, and creditors have a window of opportunity to partner with products that can relay detailed information back to vendors and also enable subscriber based products and services. Technology companies can get the ball rolling, and I beleive the big issue in evolution will be driven by Artificial Intelligence. A.I. that can perform tasks and also pay for services used during the processing is a huge market to boom. Amazon's Alexa and Uber already are ahead of the game allowing customers to order a product or service and have the payment side actually completely automated.
The next big step forward could be A.I. mitigating these tasks for users connecting their experience to ease and simplicity. While a behind-the-scenes assistant manages and predicts behavioral interaction, integrating more necessary data into current digital scalable payment networks.
Keeping Business Accountable
Smart contracts already have proven a valuable aspect of business accounting. Providing services to big data and technology companies that used to rely on obsolete forms and processing methods. By tracking results that encourage renewables and factor in carbon credits, a potentially promising solution is on the horizon to actually making a change towards environmental accountability. Environmentalists should advocate this as well, interacting bureaucratically with their local government officials explaining the importance of making sure the information we store about pollution is accurate -- otherwise history will continue to repeat itself. Because the nature of capitalism is not monetarily beneficial to the environment it is in our best interest to regulate industries where pollution and environmental damage can occur.
World Economic Forum: Does capitalism have to be bad for the environment?
How can DeFi trigger a New Era of "climate-finance?"
Many CEOs of blockchain firms around the globe have all agreed that decentralized finance has the ability to influence decisions, opinions, and investor actions. Therefore it is intrinsically important to work with grassroots environmentalist organizations who can promote the use of blockchain -to emerging green markets- that it is indeed actually a mutually beneficial solution to the climate change problem. Much like the conflict in Russia and Ukraine where SWIFT sanctions have been imposed inflicting cost to an entire countries economy. A similar situation could arise that would impose a carbon tax on polluting business that exceed compliance of green energy regulations.