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Author Topic: Can Bitcoin or the Blockchain save the environment?  (Read 219 times)
xbl1008
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June 05, 2018, 08:17:02 AM
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Many companies that is using bitcoin and the blockchain particularly some ICO's recently are being launch involving the betterment, improvement or something that will sustain our environment but is it enough to do its part or what it promises in its vision and mission? because the next tough part after the launch is how can they implement it effectively using bitcoin or the blockchain? are the world ready for it?

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June 05, 2018, 08:41:27 AM
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 #2

Many companies that is using bitcoin and the blockchain particularly some ICO's recently are being launch involving the betterment, improvement or something that will sustain our environment but is it enough to do its part or what it promises in its vision and mission? because the next tough part after the launch is how can they implement it effectively using bitcoin or the blockchain? are the world ready for it?

Bitcoin or the blockchain is not a magic wand which will save the environment. On the flip side, crypto currency mining requires hell lot of power to operate that is actually harmful to the environment. I too have came across few such ICOs who are trying to build decentralized waste management and recycling  service, decentralized hydro power mining operations and solar powered mining and electrification initiatives. But these ICOs are at a very nascent stage and didn't show any result yet.

If they start their operations, they probably won't add to the existing environmental burden around us but won't reduce it as well to any significant extent. So saving the environment is out of question. Blockchain is only being used as an operational method by these companies. As more research will happen in the crypto space, we will probably see more new ideas on how effectively we can use blockchain for the betterment of our environment, but it's too early to comment now.

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June 05, 2018, 08:46:56 AM
 #3

I don't see how the blockchain or btc can save the environment, if the environment needs saving in the first place it's people who can do it through governmental regulation and awareness projects, technologies specific to that problem and directly works to solve it.

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June 05, 2018, 08:51:04 AM
 #4

I don't think that Bitcoin can save the environment but Blockchain tech can definitely have a positive effect on things. It has been well documented the negative effects that Bitcoin mining and other forms of coins using a Proof Of Work consensus algorithm have had on the environment, in terms of energy consumption, when it comes to mining those coins in certain countries. This effect has been noticed by governments such as the Chinese government which is looking to totally cut out mining in their country since cities like Shenzhen have been feeling the effect of this physical form of mining. Bitcoin won't really have a positive effect on the environment unless there is a change to greener solutions such as Proof Of Stake models which entail potential beneficial impacts of models like Proof Of Ambassador within position papers I've read, ie. Bitcoin Origin, which has more of a view to the sustainability of the project in the long term without a negative effect on the environment that brute force mining has.

Have a look: https://cointelegraph.com/news/bitcoin-minings-electricity-bill-is-it-worth-it
https://www.bitcoinorigin.io/pdf/BitcoinOrigin-PositionPaper.pdf
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June 05, 2018, 08:56:29 AM
 #5

Blockchain technology can be applied to such fields as environmental protection, waste recycling and so on.
However, the mining of cryptocurrency will surely have a certain degree of use of resources, and it will also harm the environment.
But for some poor countries, they would rather sacrifice the environment and exchange for the economy.
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June 05, 2018, 09:04:14 AM
 #6

Too early to give substantial information since the blockchain technology is still on its embryonic stage. The idea of eliminating fiat by replacing it with currency that exists electronically may have benefits in the community and in the environment (as fiats are composed of mixed metals and paper) but the trade-off might be worse. Like what others mentioned, mining bitcoin requires tremendous power and energy in order to sustain and power CPUs. Even if some ICOs are proclaiming that their project may be beneficial to the environment, it will inevitably harm the environment on a different aspect.

Like what I mentioned, the blockchain is still on its early stages and further developments must be introduced in order to embrace this idea. Who knows, maybe in the future, people would develop a system wherein it both benefits the environment and the community- making it a win-win situation.
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June 05, 2018, 09:05:30 AM
 #7

Not save but help to some part of environment. And after saving there is our slay what we will do.
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June 05, 2018, 11:18:55 AM
 #8

I don´t see the possitive causality between bitcoin and the environment - on contrary confirming and validating transactions in the proof of work scheme consume a lot of electrical power, which is not good for the environment at all. But changing to the proof of stake or using alternative sources of energy could definitely make a change.
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June 05, 2018, 11:21:48 AM
 #9

I think for a while the world is not ready yet, but I am sure for the future the world will be ready for all, and will bring the future forward.

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June 05, 2018, 11:23:17 AM
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I don't know if it could help or detrimental to the environment. But in my opinion the consumable number of electric supply could sum up in to a large amount of demand. And this is could be a bad news for the environment.

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June 05, 2018, 11:39:27 AM
 #11

Many companies that is using bitcoin and the blockchain particularly some ICO's recently are being launch involving the betterment, improvement or something that will sustain our environment but is it enough to do its part or what it promises in its vision and mission? because the next tough part after the launch is how can they implement it effectively using bitcoin or the blockchain? are the world ready for it?

Unfortunately no. As much as these so called companies promise to save the environment through bitcoin this will merely scratch the surface. The number 1 contributor of pollution that slowly destroys the environment is actually Us. No matter how many companies joined forces to save the environment it will all came down to us, being the most dominant species and consumer of natural resources given by the environment if we dont stop polluting our oceans and exhausting our energy there will be no changes at all.
Take bitcoin mining for example. It consumes a lot of energy and also include fossil fuel consumption that contributes to the greenhouse effect that resulted into global warming. Unless we change our way of life and we learn how to dump our wastes properly then we cant provide a lasting solution to our environmental problems.

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June 05, 2018, 11:47:57 AM
 #12

Many companies that is using bitcoin and the blockchain particularly some ICO's recently are being launch involving the betterment, improvement or something that will sustain our environment but is it enough to do its part or what it promises in its vision and mission? because the next tough part after the launch is how can they implement it effectively using bitcoin or the blockchain? are the world ready for it?

Unfortunately no. As much as these so called companies promise to save the environment through bitcoin this will merely scratch the surface. The number 1 contributor of pollution that slowly destroys the environment is actually Us. No matter how many companies joined forces to save the environment it will all came down to us, being the most dominant species and consumer of natural resources given by the environment if we dont stop polluting our oceans and exhausting our energy there will be no changes at all.
Take bitcoin mining for example. It consumes a lot of energy and also include fossil fuel consumption that contributes to the greenhouse effect that resulted into global warming. Unless we change our way of life and we learn how to dump our wastes properly then we cant provide a lasting solution to our environmental problems.

Any production leads to an external environment. So we will not stop making cars, plastic, rubber. The main thing in this problem is to create conditions for minimal impact. A better program to restore damaged eco-systems.
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June 05, 2018, 11:52:33 AM
 #13

Many companies that is using bitcoin and the blockchain particularly some ICO's recently are being launch involving the betterment, improvement or something that will sustain our environment but is it enough to do its part or what it promises in its vision and mission? because the next tough part after the launch is how can they implement it effectively using bitcoin or the blockchain? are the world ready for it?

Unfortunately no. As much as these so called companies promise to save the environment through bitcoin this will merely scratch the surface. The number 1 contributor of pollution that slowly destroys the environment is actually Us. No matter how many companies joined forces to save the environment it will all came down to us, being the most dominant species and consumer of natural resources given by the environment if we dont stop polluting our oceans and exhausting our energy there will be no changes at all.
Take bitcoin mining for example. It consumes a lot of energy and also include fossil fuel consumption that contributes to the greenhouse effect that resulted into global warming. Unless we change our way of life and we learn how to dump our wastes properly then we cant provide a lasting solution to our environmental problems.

Any production leads to an external environment. So we will not stop making cars, plastic, rubber. The main thing in this problem is to create conditions for minimal impact. A better program to restore damaged eco-systems.

As for bitcoin mining, we can use solar energy, it's a pity that it is just beginning. in the near future I think this problem will be solved
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June 05, 2018, 11:58:39 AM
 #14

Bitcoin mining needed that much energy so what do you is the impact of that to the environment?

But if those mining hardware are placed to the suitable places where the climate is very cold and I think there's no impact that it will bring to the environment. Can't say a thing about the environmental effect of blockchain but we'll see about it in the near future.

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June 05, 2018, 12:05:33 PM
 #15

I do not think bitcoin or blockchain can save the environment.
bitcoin and blockchain can save us in today's difficult economic problems.
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June 05, 2018, 12:07:02 PM
 #16

of course could save the environment because of the bitcoin safe and care about environtment.
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June 05, 2018, 07:55:38 PM
 #17

I can not see any possibility that the Blockchain or BTC can save the environment. If the environment is needed to protect it, then it can be done by people who are involved in various activities of government control agencies and awareness programs. Bitcoin or blockchain environment can save people. And that person can save the environment. However, it can also be done through technology.

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June 06, 2018, 06:12:53 AM
 #18

I think it is impossible
The environment that exists or is destroyed is due to human consciousness
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June 06, 2018, 06:35:55 AM
 #19

To my mind, in has nothing in common with the environment. Thought... cashless society will save trees from turning into banknotes  Grin
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June 06, 2018, 06:47:26 AM
 #20

Many companies that is using bitcoin and the blockchain particularly some ICO's recently are being launch involving the betterment, improvement or something that will sustain our environment but is it enough to do its part or what it promises in its vision and mission? because the next tough part after the launch is how can they implement it effectively using bitcoin or the blockchain? are the world ready for it?
When we say environment it means we are talking about external work, and that's the need of a manual people's work around, i dont think that bitcoin or blockchain can saved our envirenment.
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