WEF decided to affect climate change by impacting mining

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Ultramining.com

16:51 Sep 27, 2022

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WEF decided to affect climate change by impacting mining

We have already written about the fact that representatives of some states of the United States imposed a moratorium on BTC mining. This was primarily due to the fact that crypto-farms, designed to mine this virtual coin, emit too much carbon into the atmosphere. Apparently, very soon crypto will be blamed for all the troubles. But what actually happened?

At the World Economic Forum, a special group was created to monitor and evaluate how much mining harms the environment.

This is the Coalition for Sustainable Cryptocurrency Development. It is known that its membership will include representatives of thirty companies.

What is the task of Crypto Sustainability Coalition

The experts in the Coalition will analyze the amount of energy consumed for mining. The group will assess how harmful virtual coin mining is to our planet.

Another important vector of the Coalition's work will be to study the possibility of switching the process of mining to renewable energy sources. That, in turn, could reduce the carbon emissions that come from crypto farms.

The group will also keep an eye on carbon credits. This, in theory, would also regulate atmospheric pollution.

 "I want to point out, this is all about supporting the cryptocommunity and rewarding it for being aware. We will be able to guide people who are involved in cryptocurrency mining. Without creating a rigid central regulatory authority," said Brynly Llyr, head of blockchain and digital asset development at WEF.

There is speculation that in addition to mining, WEF participants may also take on metaverse. Where, in the opinion of participants of this forum, there is a lot of unwarranted violence. And meta-universes are very popular in 2022. Especially among children.

Recall that in many metaverse one of the ways to pay is the use of virtual coins.


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