In the course of their work, the authors studied the emission flows of Bitcoin mining in China using a simulation model.
To generate a similar amount of electricityit will be necessary to burn such an amount of fossil fuels that will emit 130.5 million tons of carbon into the atmosphere. This is comparable to emissions from the Czech Republic and Qatar combined.
The authors note that as of April 2020, China accounted for 78.89% of global blockchain transactions.
It is noted that earlier China planned to reduce greenhouse gas emissions to zero by 2060.
The authors propose restructuring consumptionelectricity with the transfer of cryptocurrency mining to a share or completely to “green” energy, but the introduction of emissions taxes is not enough to reduce them.
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