A A group of environmentalists, including Greenpeace, Environmental Working Group and other activist organizations, have launched a campaign calling for a change to bitcoin’s code to reduce its environmental footprint.
The Wall Street Journal reported that the campaign, which involved ads in The New York Times, Politico and the WSJ itself, was partially funded by Ripple co-founder Chris Larsen. He is also advised by the Sierra Club.
Former Sierra Club manager Michael Brune told the WSJ that the campaign was not anti-bitcoin. He was keen to draw attention to the argument that climate change has reached a tipping point and that bitcoin is contributing substantially to it.
“It’s important for anyone who is in a position to act, to act,” Brune told the WSJ. “You cannot ignore that we are in a climate emergency.”
“We’re in this campaign for the long haul, but we’re hoping — especially as Bitcoin is now funded by entities and individuals who care about climate change — that we can get leaders to agree that it’s going to happen. this is a problem that needs to be fixed,” Brune also said, as quoted by Bloomberg. “Goldman Sachs, BlackRock, PayPal, Venmo, Fidelity – we anticipate many companies will help in this effort.”
Earlier this year, data from Digiconomist’s Bitcoin Energy Consumption Index suggested that the world’s most valuable cryptocurrency had an environmental footprint equal to that of New Zealand, at around 37 megatonnes of carbon dioxide. carbon per year. The reason for this is the energy-intensive bitcoin mining, which has already attracted public attention from environmental organizations.
Bloomberg notes that Ethereum, perhaps Bitcoin’s biggest rival, was already working on a software update that would reduce its carbon footprint. The update is expected to be completed in several months, making Ethereum more environmentally friendly.
By Charles Kennedy for Oilprice.com.
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