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>It is the same with energy costs. Has anyone dared to calculate the CO2 release of traditional core banking systems or even running a large network of physical
by sgt101 5y ago
>It is the same with energy costs. Has anyone dared to calculate the CO2 release of traditional core banking systems or even running a large network of physical branches. No, because it's difficult and opaque. With the public blockchain these things actually can be calculated, which is a good thing I believe.
I think every major bank has got some folks doing that. It's a prerequisite of green washing.
- threeseed 5y agoNo it's a prerequisite of not being incompetent. Most companies monitor their power bills in order to ensure they are not needlessly wasting money by leaving lights or air-conditioning on etc. Once you know your power consumption it's a pretty simple calculation to get CO2 usage.
- baxtr 5y agoThat might be available on company but not on a system level. So I don't think there is no way to compare it with the energy consumption of an entire blockchain.
- lottin 5y agoThe energy consumption of a blockchain is not publicly available anywhere. What are you talking about?
- sgt101 5y agothere are estimates available : https://www.forbes.com/sites/philippsandner/2021/11/19/bitcoin-co2-emissions-from-an-investor-perspective-and-how-to-compensate-them/?sh=59379dac8c1c https://www.forbes.com/sites/philippsandner/2021/11/19/bitco...
- 8note 5y agoWhich block chains require sharing the amount of CO2 released while adding a new block? How do the non accepted blocks get counted?