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SUFB 1246: Are NFTs bad for climate change?

SUFB 1246: Are NFTs bad for climate change?

FromHow To Protect The Ocean


SUFB 1246: Are NFTs bad for climate change?

FromHow To Protect The Ocean

ratings:
Length:
18 minutes
Released:
Dec 10, 2021
Format:
Podcast episode

Description

NFTs are all the rage in the cryptocurrency world these days. Many artists, digital creators, and even marine organizations are making money using NFTs. However, the way NFTs are processed could have implications for increasing climate change. NFTs use the Eurythreum cryptocurrency, which is controlled by users (called miners) having to solve complex puzzles to gain tokens. Solving the puzzles take up a lot of energy which emits carbon dioxide into the atmosphere.  The entire Eurythreum cryptocurrency uses as much electricity as Libya.  There are ways to reduce the emissions to almost zero by switching the manner in which the currency is controlled.  Link to articles: 1) https://www.theverge.com/2021/3/15/22328203/nft-cryptoart-ethereum-blockchain-climate-change 2) https://ecotrust.ca/latest/media/blockchain-for-climate-foundation-launches-bitmo-platform-at-cop26/ Connect with Speak Up For Blue: Website: https://www.speakupforblue.com/ Instagram: https://www.instagram.com/speakupforblue/ Twitter: https://twitter.com/speakupforblue
Released:
Dec 10, 2021
Format:
Podcast episode

Titles in the series (100)

The host, Andrew Lewin, helps you overcome the problems of the ocean by discussing the latest ocean news and studies that will help you make more informed decisions in your life so you can live for a better ocean.