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Cryptodamages: Monetary value estimates of the air pollution and human health impacts of cryptocurrency mining

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... This problem of energy consumption is well-known in the literature. Stoll et al. [30] estimated that mining operations related to Bitcoin produce a minimum of 22,9Mt of CO2 per year equivalent to the emissions produced by Sri Lanka or Jordan -Although different surveys [21,[29][30][31][32][33][34] provided different results (because they use different way of estimating data and a different way to geo-locate the miners), all of them indicate the high level of electricity consumption and more disturbing, an increasing trend in this consumption. As illustration of this trend, the table hereafter provides interesting information about the current situation of the mining activities and their impact on the electricity consumption (Table 1 ...
... On this point, [32] warned about the negative externalities generated by the use of cryptocurrencies by explaining that the global temperature could increase of 2°C by 2034 only due to the bitcoin trading. Different empirical works emphasized the same increasing observation in the Bitcoin's use of energy [21,[29][30][31][32]34,35]. These findings generated a lot of debates: Houy [36], for instance, estimated that, based on mining industry's profits estimation, numbers provided by Mora et al. [32] are overestimated by a factor of 4.5 while Dittmar and Praktiknjo [37] or Masanet et al. [38] noted that the electricity consumption should be associated with the hashrate (computational capacity of the mining network) and not with the number of transactions. ...
... algorithmic consensus) they used. All POW-based crypto-currencies actually contribute to an increasing consumption of electricity as detailed in several studies [21,[29][30][31]34]. POW consensus is currently the most secured cryptographic process to validate blockchain-based transactions but when one takes its environmental impact into consideration, there is a need for further researches on the necessity to develop secured non-POW based cryptographic solutions. ...
Article
Blockchain is a buzzword describing the current excitement for an innovative technology that could change and disrupt major industries and economic sectors. Blockchain technology has the promise to change all existing business models and make financial services cheaper contributing therefore to a better financial inclusion and, even a better economic wealth distribution. Numerous studies optimistically praise such potential societal benefits by listing all processes that could be optimized through this technology. However, the picture is not necessary all bright. Blockchain can indeed disrupt and significantly improve our societies but there still exist some societal costs in the way this technology is implemented. This paper provides a perspective overviewing of the current trends related to the development of the most widely used implementation of blockchain technology based on the proof-of-work consensus algorithm. These trends will be discussed in three steps: the ‘Good Blockchain’ overviews how this technology can improve our societies; the ‘Bad blockchain’ offers a more nuanced perspective by discussing the potential polluting activities generated by some mining activities. Finally, the ‘Ugly blockchain’ investigates how this technology might generate a risk of concentration in the mining industry affecting therefore the nature and even the existence of the blockchain technology.
... There exist a lot of debates (de Vries, 2018;Goodkind et al., 2020;Mora et al., 2018;Morris, 2018;Schinckus, 2020;Stoll et al., 2019;Vranken, 2017) on the technological and energetic dimensions of the two algorithms introduced here. ...
... Indeed, as observed above, POW-based cryptocurrencies require more energy to validate transactions so that the mining activities related to these crypto-assets might influence all energy related economic indicators. Furthermore, by keeping transaction (buy\sell) and their validation (mining) distinct in two different markets, miners and buyers/sellers are operating at two different distinct levels opening additional doors for speculative activities-several studies evoked this aspect without associating this economic behaviour with the cryptocurrencies' cryptographic protocol (Goodkind et al., 2020). In contrast, the POS engages miners in the validation process by requiring from them to put at stake the amount of cryptocurrencies they want to mine-in doing so, the POS has less speculative room since miners might lose the money they put at stake in case of large variation of the value. ...
Article
This article aims at investigating the extent to which the algorithmic nature (i.e., mining process) of cryptocurrencies might influence their dynamics and interaction with some major economic indicators. Our study observes that proof-of-stake based cryptocurrencies are less correlated with other crypto-assets offering more opportunities for diversifying portfolio strategy. We also observe a positive correlation between the proof-of-work based cryptocurrencies and the oil price. This article discusses these matters and suggests that the differences in cryptocurrencies' dynamics are more related to their service or purpose rather than their mining protocol. This claim contributes to the current debates on the intrinsic value of cryptocurrencies and it is illustrated with a discussion of the Stellar (XLM) and Ether (ETH) cases. Beyond our empirical results, our article suggests that, the liquidity and the returns dynamics of cryptocurrencies might be affected by two different aspects. Precisely, the former appears to be influenced by the economic service for which these cryptocurrencies are used, while cryptocurrencies' returns are more reactive to the way their cryptographic validation is operated. Our findings also suggest that an analysis through the economic service/purpose of cryptocurrencies is actually appropriate to understand their dynamics in relation to economic indicators. This perspective implicitly questions the monetary aspect often associated with cryptocurrencies and it calls for a more categorized research (by economic purpose) of cryptocurrencies whose potential intrinsic value would then be related to their economic purpose.
... The core indicator of ecological degradation was carbon dioxide emissions. The papers [74][75][76] highlighted that cryptocurrency harmed the environment by increasing energy consumption and mining pollution. The study constructed the index of cryptocurrency environmental attention [74]. ...
... Thus, the studies [79][80][81][82][83] confirmed that smart grids and green financing allowed overcoming the issues of air pollution. On the example of China and the USA, the paper [76] confirmed that USD 1 bitcoin value provoked health damage of USD 0.49 in the USA and 0.37 in China. The opposite conclusion was proved in the study [84]. ...
Article
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The rapid growth of information technology and industrial revolutions provoked digital transformation of all sectors, from the government to households. Moreover, digital transformations led to the development of cryptocurrency. However, crypto trading provokes a dilemma loop. On the one hand, crypto trading led to economic development, which allowed attracting additional resources to extending smart and green technologies for de-carbonising the economic growth. On the other hand, crypto trading led to intensifying energy sources, which provoked an increase in greenhouse gas emissions and environmental degradation. The paper aims to analyse the connections between crypto trading, economic development of the country, renewable energy consumption, and environmental degradation. The data for analysis were obtained from: Our World in Data, World Data Bank, Eurostat, Ukrstat, Crystal Blockchain, and KOF Globalisation Index. To check the hypothesis, the paper applied the Pedroni and Kao panel cointegration tests, FMOLS and DOLS panel cointegration models, and Vector Error Correction Models. The findings concluded that the increasing crypto trading led to enhanced GDP, real gross fixed capital formation, and globalisation. However, in the long run, the relationship between crypto trading and the share of renewable energies in total energy consumption was not confirmed by the empirical results. For further directions, it is necessary to analyse the impact of crypto trading on land and water pollution.
... Associated with politically right-wing libertarian bitcoin enthusiasts (Golumbia, 2016), cryptoeconomics has masculine roots. Women represent 5-7% of cryptocurrency and Non-Fungible Token 2 (NFT) users globally (Fleetwood et al., 2019;Dave, 2021). ...
... The technology potentially opens doors to new possibilities by transcending neoliberal crises of imagination (Thwaites, 2020). But feminist scholars must be mindful that blockchain projects exist because their users often do not trust their institutions or even each other (Golumbia, 2016). Using 'trustless' systems to enable the exchange of things between users who are indifferent towards building strong trusting communities will ultimately lead to unsustainable and socially divisive outcomes (Author, 2021). ...
Preprint
Misogyny and discrimination towards women in the cryptocurrency and blockchain industry, are for many commentators, symptomatic of a prevailing 'Crypto Bro' culture. This essay argues that problematising cryptocurrencies as the exclusive purview of aggressive male geeks, diverts attention away from the capitalist root-causes of this gender-based discrimination, as well as wider deleterious social impacts of cryptocurrencies more broadly. It explores how gender is used as a strategic device to legitimise cryptoeconomics as a mainstream branch of economic thought, and questions if (or how) cryptocurrencies and blockchain could ever be useful for feminist struggles.
... Research indicates that for every $1 of value created by Bitcoin's energy use, $0.49 needs to be spent on mitigating the network's associated environmental issues and remedying other associated public health problems [12]. ...
... Non-compliance measures listed under the Montreal Protocol include provision of appropriate assistance, issuing cautions, and suspensions of benefits[89].12 A short-term hash-rate drop coinciding with high demand in April 2021 was responsible for record-high transaction fees of $59 US. ...
Article
The rate of adoption of some cryptocurrencies is triggering alarm from energy researchers and social scientists concerned about the industry’s growing environmental and social impacts. In this paper we argue that the unsustainable trajectory of some cryptocurrencies disproportionately impacts poor and vulnerable communities where cryptocurrency producers and other actors take advantage of economic instabilities, weak regulations, and access to cheap energy and other resources. Globally, over 100 million people hold cryptocurrency, mostly as a speculative asset. The digital infrastructure behind the most popular cryptocurrency, bitcoin, currently requires as much energy as the whole of Thailand, with a carbon footprint exceeding the gold mining industry. Should bitcoin’s mass adoption continue, an escalating climate crisis is inevitable, disproportionately exacerbating social and environmental challenges for communities already experiencing multiple dimensions of deprivation. In mitigating these impacts, the paper considers 4 potential regulatory pathways, including: 1) promoting voluntary private-sector commitments to using only renewable energy, 2) encouraging a system of voluntary carbon offsetting, 3) using existing financial regulations and tax frameworks, and 4) imposing national and/or international bans on cryptocurrency ‘mining’. The paper argues that effective environmental regulation of cryptocurrencies is urgently required, both to reduce the threat of catastrophic climate change, and to help the world’s poorest towards sustainable development. However, regulating cryptocurrency mining in any context is likely to require a combination of efforts and is unlikely to result in win-win outcomes for all.
... It is possible that increased regulation could affect the cryptocurrency industry as regulators such as the UK Financial Conduct Authority started to consider how effective regulation could be releasing the first piece of guidance governing crypto-assets in 2019 (Huang, S. S. 2021) The United States Securities and Exchange Commission (SEC) security laws could be applied to cryptocurrency if there is a promise of further development or price appreciation (Lockaby, C. D. 2018 issues are becoming a concern for regulators such as the US based Environmental Protection Agency which is responsible for enforcing the Clean Air Act (Goodkind, A. L. et al. 2020). This is the same act that was used to impose a $1.45 billion fine on Volkswagen. ...
... Notable examples include clean air policy forcing auto manufacturers to meet emissions targets often encouraging innovation, e.g. car manufacturers fitting exhaust catching devices. Major scandals include VW and other German manufacturers trying to by-pass the laws The carbon footprint left by Bitcoin mining could lead to heavy regulation in the future due to the process often being powered by fossil fuels(Goodkind, A. L. et al 2020). Gulli, A. (2020) Explains that The United States based Environmental Protection Agency (EPA) could enforce the Clean Air Act on Bitcoin miners which could affect firms similarly to the Volkswagen scandal. ...
Research
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Goal: The cryptocurrency industry is largely unregulated. This looks set to change as the market continues to attract financial support, understanding if more regulation will affect the industry and how will become increasingly important for companies wishing to stay compliant and shareholders looking to protect investments. This research paper looks to investigate how increased regulation will affect the industry with reference to laws and policy being applied to regulated companies as examples.
... November 27, 2021] (CoinMarketCap 2021). There are more than 2500 cryptocurrencies in global circulation that are generally based on blockchain technology (Goodkind et al. 2020). Mining is the process by which new mineable tokens of cryptocurrency enter circulation, whereas miners are participants that perform cryptographic work that adds new transactions to the ledger (Kosba et al. 2016). ...
... The study argued that cryptocurrency mining consumes significant amount of energy for proof-of-work to add new blocks to the chain. Each $1 Bitcoin value created is reported to cause health and climate damages of $0.49 and $0.37 in the USA and China, respectively (Goodkind et al. 2020). Other empirical evidence found that the trading volume of all cryptocurrency have significant positive impact in both short and long run on energy consumption (Schinckus et al. 2020). ...
Article
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When bitcoin (BTC), the first pioneering cryptocurrency was released in 2009, it was considered an apolitical currency. Besides, the possible effect of BTC and other cryptocurrencies on either financial markets or transactions has been widely discussed. However, the environmental effects of cryptocurrency demand have been ignored. Here, this study examines the nexus between cryptocurrencies and environmental degradation by employing standard and asymmetric causality methods. The Toda-Yamamoto and bootstrap-augmented Toda-Yamamoto test results reveal Bitcoin and Ethereum (ETH) excluding Ripple (XRP) have causal effects on environmental degradation. The Fourier-augmented Toda-Yamamoto test results show causal effects running from Bitcoin and Ripple to environmental degradation, whereas no causal effect runs from Ethereum to environmental degradation. The asymmetric causality shows causal effects from the positive shock of Bitcoin demand, negative shocks of Ripple and Ethereum demands to positive shocks of environmental degradation. Further discussions and policy implications are provided in the relevant sections of this study.
... Blockchain has been created as the cryptographic foundation of the Bitcoin that is the first crypto-currency. Today Bitcoin has became a buzzword generating debates and attracting a lot of attention [7]. The rest of this section focuses on the consequence of the algorithmic validation of Bitcoin and the Ethereum on the environment as an illustration of the influence of the POW-based blockchain technology on the environment. ...
... As evoked earlier, POW related mining operations require a high level of electricity that can generate a polluting activities affecting the environment and therefore the neighbouring population as numbers related to cryptodamages suggest it in China and USA. Precisely, Goodkind et al. [7] estimated that, in 2018, each $1 of Bitcoin value created generated $0.49 damage in health and climates and this number could reach $0.95 in the following years if the way the industry operates does not change. ...
Article
In the increasing literature dealing with the potential applications of blockchain technology in the energy sector, one key aspect is under-estimated: the use of renewal energies to fuel the energy consumed by the blockchain technology. The vast majority of blockchain-based projects use the Proof-of-Work (POW) consensus algorithm, which paradoxically is well-known to consume a high level of electricity - how can a new solution promote green energy with transactions that are validated through a non-green process (POW protocol)? This perspective discusses this apparent contradiction by debating the extent to which the cryptographic validation of the POW-based blockchain technology (illustrated by Bitcoin here) can really fuelled with green electricity. I explain that the vast majority of the literature dealing with the ecological influence of Bitcoin mainly focus on the energetic dimension under-estimating the environmental impact. Integrating research about Life Cycle Assessments, I suggest here a conceptual framework rejecting the implicit assumption that renewable energy fuelled mining industry would make POW based operations greener. In the light of the recent ban of mining operations in China and Iran, the issue discussed in this article is timely for policymakers who need to promote the development of standards for mining operations related equipment in order to avoid potential negative environmental side effects.
... Mora et al. (2018) or Morris (2018) warned about the negative externalities generated by the use of cryptocurrencies by explaining that the global temperature could increase of 2°C by 2034. Although they do not provide so apocalyptic numbers 2 , several empirical studies suggest the same increasing trend in the Bitcoin's use of energy (Vranken, 2017;McCook, 2018;De Vries, 2018;Mora et al., 2018;Morris 2018;Stoll et al., 2019;Goodkind et al., 2020). ...
... Finally, the trading of bitcoin appears to have a long-run positive influence on the production of energy emphasizing its limitations in terms of sustainability. In this research, we did not distinguish the proof-of-work based crypto-currencies from the other algorithms based ones -this could be a limitation of our study -but still acceptable since the vast majority of the crypto-currencies are now traded through the energy consuming Proof-of-Work consensus (Goodkind et al. 2020), we simply use the data related to the trading of all crypto-currencies in our analysis. Another methodological aspect can be mentioned here: in line with the existing literature, we associated here the electricity consumption with the trading volume of cryptocurrencies -it is worth mentioning that some studies (Dittmar and Praktiknjo 2019;Masanet et al., 2019) claim that the Bitcoin's electricity consumption should be analyzed in relation with the hashrate (i.e. the network computational power). ...
Article
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This study empirically investigates the effects of crypto-currencies trading on the energy consumption as an important consequence of blockchain technology on climate change. In this article, we use the data of Bitcoin trading volume as well as all crypto-currencies trading volumes for the period going from 2014M1 to 2017M12 to investigate the effects on the primary energy consumption. Our empirical results show a positive correlation between crypto-currencies trading volumes and the energy consumption. Moreover, the crypto-currencies trading volume has a Granger-causality to energy consumption in the period of study indicating that these two variables have a long-run co-integration. In other words, our findings show a significant positive (and increasing) influence of cryptocurrency activities on the energy consumption in both short-run and long-run. This study investigates one step further in examining the effects of residuals of the crypto-currencies trading volume on the residuals in energy consumption to confirm that a higher trading volume in cryptocurrencies might cause a higher energy consumption. Our findings show a negative influence of the trading of crypto-currencies - precisely, the higher the crypto-currency activities are, the higher the energy consumption is, affecting therefore the environment.Keywords: Crypto-currencies, Environment; Energy consumption; Innovation.JEL Classifications: Q40, Q51, Q54, Q55, Q56DOI: https://doi.org/10.32479/ijeep.9258
... Meanwhile, Bitcoin energy consumption has weak effects on both returns and volumes. Therefore, we witnessed that trading Bitcoin causes environmental degradation, which refers to the terminology 'crypto-damage' from the previous literature Goodkind et al. (2020). ...
Article
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This paper is the first empirical paper to study the relationship between Bitcoin energy consumption and its market. Using the variance decompositions in combination with realized semi-variances for daily data, we find a relationship between Bitcoin energy consumption and its returns as well as volumes. Additionally, the directional impact from Bitcoin trading volumes to its energy consumption is higher than returns in the long run. The second Bitcoin crash also induces a higher connectedness of energy usage. Finally, we found the predictive power of energy on Bitcoin returns and volume. It holds true for the opposite predictive direction. Our results draw a challenge to the cryptocurrency ecosystems to sustainably innovate to impede their carbon footprint.
... The other major player against the generalized use of cryptocurrency is the high amount of energy consumed by miners around the world, this translates into an environmental impact that many critics are considering a big threat to global health and climate stability. [3,4] To tackle the use of cryptocurrency for cybercriminal activities is a difficult task, since the idea the cryptocurrency itself born to create a trustable currency that is not regulated by a central financial institution. Nevertheless, some kind of regulation (minimal) can be introduced in the system, if the trust on the regulator is not questionable, we will explain later in this paper, how an academic institution and not a financial institution could be that minimal regulator, that could help in some way to work against the use of criminal activities of cryptocurrency. ...
Preprint
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1. Abstract: Cryptocurrencies are essentially digital currencies that use digital transactions distributed across an entire network of computer systems (Blockchain Network), visible, trackable, and almost hack proof due to its nature of data storage into blocks duplicated and distributed across the network that allows proof-fail checkup. However due to the negative impact on the carbon footprint and the use of cryptocurrency for cybercriminal activity there is room to improvement into this new technology. Albeit these concerns, the cryptocurrency market has shown the big interest of buyers to make it a reality. With the late impulse on his economic importance for buying physical assets as the backed up by TESLA and his CEO Elon Musk (forbes). There is still a need of improving the existing method or find a new one that can overcome the already stated concerns. As, we understand more of the power of cryptocurrency mining, we cannot avoid thinking if all that computational power could be reoriented to a new scheme, where carbon footprint could have a meaning, where we could use all that computational power to advance scientific progress and answer some questions that are waiting to be answered in small academic computational clusters. Here we propose DNA-Digital Network Assembly Analysis (DiNA 2) as a new purposeful method based on genomic information analysis (for developing a more suitable cryptocurrency that could help boosting scientific progress while works as a financial asset regulated in partly by academic institutions.
... At another instance, (Mora et al., 2018) also argued that the carbon dioxide emissions from the mining of bitcoin alone could increase the advent of global warming above the 2 • C verge of distress. In addition to this, another study by (Goodkind et al., 2020) has used simulation models, estimates of carbon-related social costs, value of statistical life methods, and the exposure-response function, in order to monetize the adverse environmental costs of air pollution and health damages. They have also considered the climate and health damages that are linked to the mining of four types of coins, over a timeframe of two years, specifically pertaining to 2016-2018. ...
Article
In the recent years, the concerns raised by environmentalists, over the excessive usage of electricity, particularly in the mining of cryptocurrencies, have caught the attention of the community at large. In this regard, regulators and stakeholders have been reevaluating the costs and benefits of technological development in general, as well as in Fintech, specifically targeting their efforts towards the restoration of the environment. Considering that technology has long been perceived as dual edged sword for the environment, this would be the appropriate time to assess its true role in the environmental improvement, or rather, even deterioration. Therefore, this study attempts to address the question of whether the Fintech development is helping economies towards a smooth transition towards a lower level of carbon and greenhouse gasses emissions. Our results in this aspect are highly encouraging, and confirm that Fintech development can in fact help to reduce the greenhouse gas emissions, after the inclusion of appropriate control variables. Moreover, these results are robust even after the incorporation of the potential endogeneity of Fintech development, by the usage of 2SLS and GMM estimations.
... In addition, the prediction shown in Figure 1 shows that consumption will continue to grow. Depending on how such energy is being generated, it can cause an increase in pollution, air pollution being one of them [29,30]. There are several studies on this issue such as [31] "the impact derived from increased energy generation (by mining); does not clearly generate socioeconomic benefits for the county and brings environmental implications"; or also [32] when they point out that "the Bitcoin blockchain validation process requires specialized hardware and large amounts of electricity, which translates into a significant carbon footprint". ...
Article
Full-text available
There are different studies that point out that the price of electricity is a fundamental factor that will influence the mining decision, due to the cost it represents. There is also an ongoing debate about the pollution generated by cryptocurrency mining, and whether or not the use of renewable energies will solve the problem of its sustainability. In our study, starting from the Environmental Performance Index (EPI), we have considered several determinants of cryptocurrency mining: energy price, how that energy is generated, temperature, legal constraints, human capital, and R&D&I. From this, via linear regression, we recalculated this EPI by including the above factors that affect cryptocurrency mining in a sustainable way. The study determines, once the EPI has been readjusted , that the most sustainable countries to perform cryptocurrency mining are Denmark and Ger-many. In fact, of the top ten countries eight of them are European (Denmark, Germany, Sweden, Switzerland, Finland, Austria, and the United Kingdom); and the remaining two are Asian (South Korea and Japan).
... Research indicates that for every $1 of value created by Bitcoin's energy use, $0.49 needs to be spent on mitigating the network's associated environmental issues and remedying other associated public health problems [12]. ...
Preprint
The rate of adoption of some cryptocurrencies is triggering alarm from energy researchers and social scientists concerned about the industry's growing environmental and social impacts. In this paper we argue that the unsustainable trajectory of some cryptocurrencies disproportionately impacts poor and vulnerable communities where cryptocurrency producers and other actors take advantage of economic instabilities, weak regulations, and access to cheap energy and other resources. Globally, over 100 million people hold cryptocurrency, mostly as a speculative asset. The digital infrastructure behind the most popular cryptocurrency, bitcoin, currently requires as much energy as the whole of Thailand, with a carbon footprint exceeding the gold mining industry. Should bitcoin's mass adoption continue, an escalating climate crisis is inevitable, disproportionately exacerbating social and environmental challenges for communities already experiencing multiple dimensions of deprivation. In mitigating these impacts, the paper considers 4 potential regulatory pathways, including: 1) promoting voluntary private-sector commitments to using only renewable energy, 2) encouraging a system of voluntary carbon offsetting, 3) using existing financial regulations and tax frameworks, and 4) imposing national and/or international bans on cryptocurrency 'mining'. The paper argues that effective environmental regulation of cryptocurrencies is urgently required, both to reduce the threat of catastrophic climate change, and to help the world's poorest towards sustainable development. However, regulating cryptocurrency mining in any context is likely to require a combination of efforts and is unlikely to result in win-win outcomes for all.
... For instance, Song et al. [23] estimated that when the concentration of PM 2.5 , PM 10 , NO 2 , O 3 and CO increases by 10 μg/m 3 in North China cities, the number of people hospitalised for hypertension raises by 0.56%, 0.31%, 1.18%, 0.40% and 0.03%, respectively. Goodkind et al. [24] analysed the Bitcoin economic, health and climate damages linked with air pollution emissions. The authors collected country-level data on emissions rates per kWh of electricity generation for four pollutants and combined them with knowledge on emission rates with the kWh of electricity usage per coin created. ...
Article
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This paper demonstrates how the combustion of fossil fuels for transport purpose might cause health implications. Based on an original case study [i.e. the Hubei province in China, the epicentre of the coronavirus disease-2019 (COVID-19) pandemic], we collected data on atmospheric pollutants (PM2.5, PM10 and CO2) and economic growth (GDP), along with daily series on COVID-19 indicators (cases, resuscitations and deaths). Then, we adopted an innovative Machine Learning approach, applying a new image Neural Networks model to investigate the causal relationships among economic, atmospheric and COVID-19 indicators. Empirical findings emphasise that any change in economic activity is found to substantially affect the dynamic levels of PM2.5, PM10 and CO2 which, in turn, generates significant variations in the spread of the COVID-19 epidemic and its associated lethality. As a robustness check, the conduction of an optimisation algorithm further corroborates previous results.
... The implications of energy consumption for the production of cryptocurrencies goes beyond the environment and it includes social and health effects. Goodkind et al. [18] estimate the effects of air pollution through energy consumption to produce Bitcoin in the US and China. They conclude that "the human health and climate damages caused by Bitcoin represented almost half of the financial value of each US dollar of Bitcoin created (as represented by market prices)" [18, p. 7]. ...
Article
In the aftermath of the global financial crisis (2008-2010), peer-to-peer online payment mechanisms emerged as a way to avoid financial intermediaries and untrusted centralized state authorities. Cryptocurrencies proliferated among like-minded individuals, generally depicted by scholars as anarcho-capitalists. Much social science literature has focused on governance and technical puzzles that these new market tools bring about as well as on the risks associated with the problems of trust, security, money laundering and illegal financing. In this article, I shift gaze to center on the material underpinnings of cryptocurrencies, such as energy systems and infrastructure, as well as how cryptocurrencies can expand in contexts of crisis in peripheral societies. I focus on the case of Venezuela to explain some of these processes in the rise and expansion of cryptocurrency markets that have remained at the margins of energy and political economy discussions. A deep dive into Venezuela allows us to de-virtualize our understandings of cryptocurrencies. It redirects our attention to infrastructure, energy, rent, and precarious conditions of living in a crumbling rentier society, shedding light on the use and expansion of cryptocurrencies in a nominally socialist country.
... The empirical results obtained by Das and Dutta indicate the energy costs as the Achilles heel for Bitcoin miners' incomes when their incomes are low and volatile [74]. Goodkind et al. estimated that in the case of the year 2018 "each 1USD of Bitcoin value created was responsible for 0.49USD in health and climate damages in the US and 0.37USD in China" [75]. ...
Article
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The controversies surrounding Bitcoin, one of the most frequently used and advertised cryptocurrency, are focused on identifying its qualities, the advantages and disadvantages of using it and, last but not least, its ability to survive over time and become a viable alternative to the traditional currency, taking into account the effects on the environment of the technology used to extract and trade it. Based on such considerations, this article aims to provide an overview of this cryptocurrency, from the perspective of conducting a systematic review of the literature dedicated to the economic and environmental impact of Bitcoin. Using peer-reviewed articles collected from academic databases, we aimed at synthesizing and critically evaluating the points of view in the scientific literature regarding the doctrinal source of the emergence of Bitcoin, the identity of this cryptocurrency from an economic point of view, following its implications on the economic and social environment. Subsequently, this research offers the opportunity of evaluating the level of knowledge considering the impact of Bitcoin mining process on the environment from the perspective of the energy consumption and CO2 emissions, in order to finally analyze Bitcoin regulation and identify possible solutions to reduce the negative impact on the environment and beyond. The findings suggest that, despite high energy consumption and adverse environmental impact, Bitcoin continues to be an instrument used in the economic environment for a variety of purposes. Moreover, the trend of regulating it in various countries shows that the use of Bitcoin is beginning to gain some legitimacy, despite criticism against this cryptocurrency.
... Meanwhile, a recent paper in Nature Climate Change warned: "Bitcoin usage, should it follow the rate of adoption of other broadly adopted technologies, could alone produce enough CO 2 emissions to push warming above 2 C within less than three decades" (Mora et al., 2018, p. 931). While the underlying models, assumptions and projections that underwrite claims about the energy demands and environmental impact of cryptocurrencies should no doubt be subject to ongoing peer-reviewed critique (see: Dittmar and Praktiknjo, 2019), that there are human and environmental impacts and externalities due to cryptomining is undeniable (Goodkind et al., 2020). ...
Article
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Mediatization remains a key concept for theorizing how our ever-evolving and intensifying media and communications environment underwrites and (re)constructs our social world, yet the socio-ecological effects of mediatization processes remain relatively unacknowledged within this research field. However, mediatization must be conceptualized as a cogent process whose impact extends beyond the confines of the "media environment" to the natural environment. We make this argument by reviewing how three dominant traditions of mediatization scholarship: (a) institutionalist, (b) cul-tural/social constructivist, and (c) materialist conceptualize "the environment." We argue that scholars rarely acknowledge the materialist dimension of mediatization despite it being a fundamental aspect of mediatization processes. Consequently, we bring discourse surrounding the materiality of mediatization to the fore by drawing on theories of materiality from media and communication studies in general and highlighting three material dimensions of mediatization processes in particular: (a) resources, (b) energy, and (c) waste. In doing so, we make explicit the implicit material dimensions of mediatization processes that have been largely overlooked but are directly linked to how we understand, theorize and react to the societal, cultural, economic, environmental transformations brought about by media.
... The Chinese government's prohibition of mining as well as restrictions in some other parts of the world were caused by the huge environmental impact of mining farms. In Asia, Latin America, and Africa, the impact of cryptocurrency mining is especially large [24][25][26]. However, environmental-based restrictions did not break the growing trend of cryptocurrencies during the pandemic. ...
Article
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In comparison with other respiratory viruses, the current COVID-19 pandemic’s rapid seizing the world can be attributed to indirect (contact) way of transmission of SARS-CoV-2 virus in addition to the regular airborne way. A significant part of indirect transmission is made through cash bank notes. SARS-CoV-2 remains on cash paper money for period around four times larger than influenza A virus and is absorbed by cash notes two and a half times more effectively than influenza A (our model). During the pandemic, cryptocurrencies have gained attractiveness as an “epidemiologically safe” means of transactions. On the basis of the authors’ gallop polls performed online with social networks users in 44 countries in 2020–2021 (the total number of clear responses after the set repair 32,115), around 14.7% of surveyed participants engaged in cryptocurrency-based transactions during the pandemic. This may be one of the reasons of significant rise of cryptocurrencies rates since mid-March 2020 till the end of 2021. The paper discusses the reasons for cryptocurrency attractiveness during the COVID-19 pandemic. Among them, there are fear of SARS-CoV-2 spread via cash contacts and the ability of the general population to mine cryptocurrencies. The article also provides a breakdown of the polled audience profile to determine the nationalities that have maximal level of trust to saving and transacting money as cryptocurrencies.
... Legal risks of non-compliance to regulations such as to the European Union General Data Protection Regulation (GDPR) arise as personal data cannot be erased and stakeholders cannot control their own data, with no clear accountable entity [99]. Furthermore, negative externalities associated with blockchains have been well documented, due to proof-of-work processes requiring ever greater computational power and energy consumption for mining, causing environmental and health impacts contradicting the very aim of decarbonisation [100]. Finally, implementation risks such as scalability concerns, facilitated money laundering, fraud, and tax evasion should be carefully weighed before creating a dependency at a large scale of our electricity systems on blockchain technologies [101]. ...
Preprint
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This paper proposes a novel taxonomy of coordination strategies for distributed energy resources at the edge of the electricity grid, based on a systematic analysis of key literature trends. The coordination of distributed energy resources such as decentralised generation and flexibility sources is critical for decarbonising electricity and achieving climate goals. The literature on the topic is growing exponentially; however, there is ambiguity in the terminology used to date. We seek to resolve this lack of clarity by synthesising the categories of coordination strategies in a novel exhaustive, mutually exclusive taxonomy based on agency, information and game type. The relevance of these concepts in the literature is illustrated through a systematic literature review of 84,741 publications using a structured topic search query. Then 93 selected coordination strategies are analysed in more detail and mapped onto this framework. Clarity on structural assumptions is key for selecting appropriate coordination strategies for differing contexts within energy systems. We argue that a plurality of complementary strategies is needed to coordinate energy systems' different components and achieve deep decarbonisation.
... Thirdly, our focus on the Arctic brings into focus various salient geopolitical issues including autonomy and independence for Greenland, regional plans for Nordic industrial strategy, and even proposals to invest in infrastructure to counter major shifts in global power such as a current concentration of data infrastructure among China and the United States. Connected to this theme is an investigation of how blockchain technology and the growth of cryptocurrencies can expand in contexts of crisis in peripheral societies, as they have in rural areas of the United States or Venezuela [20][21][22]. ...
Article
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Digital platforms and the online services that they provide have become an indispensable and ubiquitous part of modern lifestyles, mediating our jobs, hobbies, patterns of consumption and forms of communication. However, no one is steering this development, or closely looking at the impacts that it may have on remote communities in the Arctic and Nordic region, a hotspot for datacenter development. Moreover, unlike other areas of energy consumption or technology adoption prone to rich, qualitative assessments, such work on datacenters involving local stakeholders and environmental concerns is less common, particularly at a larger scale. In this study, based on novel mixed methods-including corporate data, expert interviews, focus groups, and extensive site visits across three countries, we offer a geographically and technologically bounded assessment looking at the sustainability impacts of datacenters on local communities. We ask: What impacts are occurring as part of datacenter development or planning proposals in Greenland, Iceland, and Norway? What is the actual and anticipated scale of those impacts on local Arctic communities? Finally, what impacts to datacenter development occur at the "whole systems" level? We examine not only impacts onsite at existing or proposed datacenters, but an entire range of consequences including the manufacturing of equipment, the laying of data cables, the construction of buildings, and issues of the dark web, cryptocurrency mining, hacking, spying, waste and decommissioning. Moreover, we humanize risks and benefits not only across scales, but also categorical types, including local impacts such as boom and bust cycles, the displacement of indigenous groups for land-particularly for power supply-and impacts on employment, especially after datacenters may close.
... As we all know, burning fossil fuels such as coal will release a large amount of carbon dioxide into the atmosphere, which is also one of the main factors of climate change. This means that the more mining computing devices join the bitcoin network, the greater the demand for the energy generation and consumption and the greater the impact on the environment [234]. At present, in order to solve the problem of energy consumption, in addition to controlling the mining scale and avoiding disorderly competition, the purpose of energy conservation and environmental protection can also be achieved by optimizing the mining mechanism. ...
Article
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Nowadays, blockchain technology and industry has developed rapidly all over the world, which is inseparable from continuous innovation and improvement on smart contract technology. Therefore, by summarizing the working principle and application research status of blockchain smart contract, this paper analyzes the development and challenges of smart contract. Firstly, we introduce the model and operation principle of blockchain smart contract for the overall architecture, analyze the deployment process of smart contract with Ethereum, Hyperledger Fabric and EOSIO, and make a comparative analysis from the technical level. And taking Byteball, InterValue and IOTA platforms as examples, we introduce the deployment process and application potential for DAG-based blockchain smart contract. Additionally, we also summarize the application research of smart contract for international and Blockchain Oracle, and discuss its innovative application and development trend in the future. Secondly, we introduce the application status of smart contract with Ethereum and Hyperledger Fabric platforms from the aspects of financial transactions, Internet of things, medical applications, and supply chain, and further discuss EOS (enterprise operation system), Blockchain Oracle and other application fields. Furthermore, we introduce the application advantages and challenges to smart contract for industrial Internet from the fields of manufacturing, food industry, industrial Internet of things and industry 4.0. Finally, we discuss the challenges faced by smart contract with technical issues, analyzes the impact on large-scale applications and mining system on the sustainable development of smart contract, and looks forward to the future research direction of blockchain smart contract.
... How will social, political and financial structures evolve and adapt to a quantum world? In recent times, the development of AI and Blockchain has highlighted the importance of considering emerging technologies ' social, legal, and environmental implications (Mantelero, 2018) (Goodkind et al., 2020). History offers additional lessons: despite its obvious benefits to society, the Industrial Revolution also unleashed environmental repercussions that are being felt acutely today. ...
Article
Quantum mechanics has not only revolutionized our understanding of the fundamental laws of the universe, but has also transformed modern computing and communications technologies, leading to our current information age. The inherently nondeterministic nature of the theory is now leading to radical and powerful new frameworks for information processing and data transmission. This new quantum revolution raises social, political and ethical questions, but also provides an opportunity to develop quantum-inspired frameworks to examine and build the quantum information era.
... In terms of negative externalities, Mora et al. (2018) or Morris (2018) mentioned that the global temperature could increase by 2°C by 2034 if nothing changes in the way we currently use the technology in the cryptocurrencies. From an economic viewpoint, one can then say that the mining activities related to the validation of Bitcoin generate negative externalities simply because they create a negative effect (contribution to the increase of the global temperature) on an unrelated third party (world population)even though this aspect has been discussed in the existing literature (Vranken, 2017;de Vries, 2018;Mora et al., 2018;Morris, 2018;Stoll et al., 2019;Goodkind et al., 2020;Schinckus, 2020;Schinckus et al., 2020), all these debates [1] assume that the Bitcoin's use of energy is related to its trading volume. This article directly contributes to these debates by investigating the extent to which a more relevant measure (hashrate) should be considered to estimate the Bitcoin (blockchain) consumption of energy. ...
Article
Purpose Given the growing importance of cryptocurrencies and the technique called “SegWit” that allows to compile more transactions in a mined block, the electricity consumed per block might potentially decrease. The purpose of this study is to consider that the difficulty to mine a block might be a better indicator of the Bitcoin\Ether’s electricity consumption. Design/methodology/approach This study applies the vector error correction model to investigate data related to primary energy consumption and electricity production, supply and consumption for Bitcoin and Ether hashrates from 2016M1 to 2021M5. Findings The hashrate (difficulty of solving the cryptographic problem related to the validation of a transaction) is found to have a positive cointegration with energy and electricity consumption. Despite the launch of the Segregation Witness (SegWit) mechanism allowing blocks to handle a higher number of transactions per block, this Bitcoin and Ether growing need in electricity has significantly been increasing since October 2019. Originality/value The major contribution of this study is to investigate a more relevant indicator, namely, hashrate (computational difficulty to solve cryptographic enigma associated with cryptocurrencies-related transaction). The approach of this study can be justified by the fact that there exists a technical solution consisting in increasing the number of transactions per blocks so that less electricity might be required to validate a transaction.
... India introduced blockchain in agricultural production and distribution to improve the sustainability of agricultural supply chains (Saurabh and Dey 2021;Yadav et al. 2020), while Taiwan has focused on air pollution and water quality. The traceability enabled by blockchain is utilized in the recycling of renewable energy (Goodkind et al. 2020;Kolumban-Antal et al. 2020;Lin et al. 2020;Lucking et al. 2020;Rodrigo et al. 2020;Sofia et al. 2020). ...
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The emergence of blockchain technology has brought about disruptive challenges in multiple fields. Blockchain research has come into the global spotlight, particularly in the field of environmental management. The decentralized mechanism of blockchain conflicts with the centralized structure of environmental management; however, there is a need to review the literature on blockchain and its potential in environmental management. In this paper, we performed a bibliometric analysis to investigate publications on environmental management based on blockchain (EMBB) in the Web of Science (WOS). The distribution by journal, author, organization and keywords were measured by R Package in a descriptive analysis. The network analysis of research themes was visualized in VOS Viewer. The results show that research on EMBB is still in its infancy and lacks case studies. In terms of research trends, we conclude by suggesting future directions in EMBB. In summary, we propose a blockchain-based environmental management framework to provide a reference for regulators. The governance framework will inform policy by unravelling the challenges and opportunities presented by technological change for decision makers in environmental governance.
... Blockchain networks eat up significant amounts of energy due to their Proof-of-Work(PoW) design method of adding up new "blocks" to the blockchain (Goodkind et al., 2020;Houben & Snyers, 2018 (Aratani, 2021;Criddle, 2021). To put into perspective, ...
Research
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A business plan exploring Blockchain's Non-Fungible Tokens as a catalyst in connecting game worlds and empowering customers in truly owning in-game assets. This paper extensively studies the market, the industry, and analyzes the internal and external environment of the proposed business.
... But even without further growth, Bitcoin mining already has consequences for health and climate. Stoll et al. [2] estimated that the carbon footprint produced by Bitcoin mining "sits between the levels produced by the nations of Jordan and Sri Lanka", and Goodkind et al. [11] concluded that in 2018 "each $1 of Bitcoin value created was responsible for $0.49 in health and climate damages in the US and $0.37 in China". ...
Article
As the resource intensity of running Bitcoin has increased over recent years, it has become a serious concern for its potential impact on health and climate. Within this context, there exists a growing need for accurate information. Various organizations need this for multiple purposes like properly assessing the urgency of the problem, implementing the right policy response in the right locations and for setting up mitigation programs. We propose a market dynamics approach to evaluate the current methods for obtaining information on Bitcoin's energy demand. This allows us to establish that, while historically the Bitcoin mining industry has been growing most of the time, this growth allows market participants to pursue strategies that don't necessarily involve the best devices, device settings, or locations. The bigger the profitability of mining, the more it allows market participants to make decisions that result in suboptimal power efficiency of the Bitcoin network. Specifically, while the profitability of mining peaked during 2019, we find that market participants primarily used older generations of devices with better availability and lower acquisition costs. Common estimation approaches don't only fail to capture this behavior, but also fail to properly capture the market circumstances, like seasonal and geographic variation in electricity prices, that help enable participants to do so in the first place. This combination leaves common approaches prone to providing optimistic estimates during growth cycles. We conservatively estimate the Bitcoin network to consume 87.1 TWh of electrical energy annually per September 30, 2019 (equaling a country like Belgium).
... Legal risks of non-compliance to regulations such as to the European Union General Data Protection Regulation (GDPR) arise as personal data cannot be erased and stakeholders cannot control their own data, with no clear accountable entity [99]. Furthermore, negative externalities associated with blockchains have been well documented, due to proof-of-work processes requiring ever greater computational power and energy consumption for mining, causing environmental and health impacts contradicting the very aim of decarbonisation [100]. Finally, implementation risks such as scalability concerns, facilitated money laundering, fraud, and tax evasion should be carefully weighed before creating a dependency at a large scale of our electricity systems on blockchain technologies [101]. ...
Article
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This paper proposes a novel taxonomy of coordination strategies for distributed energy resources at the edge of the electricity grid, based on a systematic analysis of key literature trends. The coordination of distributed energy resources such as decentralised generation and flexibility sources is critical for decarbonising electricity and achieving climate goals. The literature on the topic is growing exponentially; however, there is ambiguity in the terminology used to date. We seek to resolve this lack of clarity by synthesising the categories of coordination strategies in a novel exhaustive, mutually exclusive taxonomy based on agency, information and game type. The relevance of these concepts in the literature is illustrated through a systematic literature review of 84,741 publications using a structured topic search query. Then 93 selected coordination strategies are analysed in more detail and mapped onto this framework. Clarity on structural assumptions is key for selecting appropriate coordination strategies for differing contexts within energy systems. We argue that a plurality of complementary strategies is needed to coordinate energy systems’ different components and achieve deep decarbonisation.
... It also ensures that currencies are allocated fairly in a competitive system [17]. In addition to this, the act of producing a new digital coin necessitates the use of big and powerful computers to solve complicated cryptographic riddles, and cryptocurrency mining uses a lot of energy [18]. Each transaction is confirmed through mining since bitcoin operates on a decentralized network with no central authority. ...
Article
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Cryptocurrency mining and blockchain technology using renewable energy as the main electricity source has gained attention for sustainable development in financial areas. However, very few studies have been reported concerning the power usage of cryptocurrencies using renewable energy. In this article, we report the effect of overclocking and undervolting on power usage and the hash rate for mining dogecoin with solar energy as renewable energy. e mining rig used in this work consists of different graphics processing units (GPUs) and non-LHR (lite hash rate) cards. e UnMineable software has been used for mining dogecoin as well as for wallet integration. e results indicate that mining dogecoin with solar energy as renewable energy consumes 2000 Watts power with overclocking and 1700 Watts power with undervolting technique. is work implicates the potential future of crypto-mining with renewable energy and the hardware configuration associated with it, which is expected to reduce e-waste and improve sustainable development. To reduce the e-waste and high electricity consumption, we have introduced two important techniques named GPU optimization and use of renewable energy for mining, which helps the miners to reduce the e-waste and electricity consumption significantly at the same time getting most out of the GPU by not having any impact on the environment.
... It also ensures that currencies are allocated fairly in a competitive system [17]. In addition to this, the act of producing a new digital coin necessitates the use of big and powerful computers to solve complicated cryptographic riddles, and cryptocurrency mining uses a lot of energy [18]. Each transaction is confirmed through mining since bitcoin operates on a decentralized network with no central authority. ...
Article
Full-text available
Cryptocurrency mining and blockchain technology using renewable energy as the main electricity source has gained attention for sustainable development in financial areas. However, very few studies have been reported concerning the power usage of cryptocurrencies using renewable energy. In this article, we report the effect of overclocking and undervolting on power usage and the hash rate for mining dogecoin with solar energy as renewable energy. e mining rig used in this work consists of different graphics processing units (GPUs) and non-LHR (lite hash rate) cards. e UnMineable software has been used for mining dogecoin as well as for wallet integration. e results indicate that mining dogecoin with solar energy as renewable energy consumes 2000 Watts power with overclocking and 1700 Watts power with undervolting technique. is work implicates the potential future of crypto-mining with renewable energy and the hardware configuration associated with it, which is expected to reduce e-waste and improve sustainable development. To reduce the e-waste and high electricity consumption, we have introduced two important techniques named GPU optimization and use of renewable energy for mining, which helps the miners to reduce the e-waste and electricity consumption significantly at the same time getting most out of the GPU by not having any impact on the environment.
... Yet, while digital technologies can bring such benefits, technology adoption within supply chains is often slow and incomplete and additional operational challenges are created by managing heterogeneous users (e.g., brands, farmers). Blockchain in particular and a correlated growth in cryptocurrencies have been shown to result in negative impacts to employment, energy consumption, air pollution, and community resilience in the United States and Venezuela (Rosales 2021;Goodkind et al. 2020;Greenberg and Bugden 2019). ...
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While innovation is expected to play a major role in decarbonization, the development and diffusion of low-carbon technologies are too slow in most sectors and countries to stabilize the climate. In this introductory paper to a Special Issue on “Innovation and climate change”, we review selected innovation studies literature, reflect on historical trends and insights, and cast light on future research on innovation and climate change. To set the stage for this Special Issue we present an analysis of key research topics, most influential papers and innovation journals, highlighting contributions across four interrelated themes: fostering climate action, shaping policy, promoting experimentation and learning, and examining effectiveness. While past studies and this special issue made significant contributions, we suggest that research on innovation have not sufficiently engaged with three important topics: i) blending behavioural change with technological innovation; ii) the socio-technical drivers of accelerated low-carbon transitions, and iii) the role of digital technologies as new venues of solutions to managerial challenges in addressing climate change. The nexus of climate change and innovation calls for different disciplines and coevolutionary views, as opposed to a traditional disciplinary focused approach. It also may require the need for broader, more inclusive and interdisciplinary research teams.
... Public blockchains rely on a proof-of-work consensus mechanism, where the so-called miners compete against each other in validating new blocks to earn a reward (Strüker et al., 2019). While a proof-of-work consensus mechanism is relatively time-and energy-consuming and, therefore, causes more pollution (Goodkind et al., 2020), the proof-of-stake mechanism is more efficient. Here, nodes are selected randomly to confirm a transaction (Albrecht et al., 2018). ...
Article
Purpose – The purpose of this study is to formulate the most probable future scenario for the use of blockchain technology within the next five to ten years in the electricity sector based on today’s experts’ views. Design/methodology/approach – An international, two-stage Delphi study with 20 projections was used. Findings – According to the experts, blockchain applications will be primarily based on permissioned or consortium blockchains. Blockchain-based applications will integrate Internet-of-Things devices in the power grid, manage the e-mobility infrastructure, automate billing and direct payment, and issue certificates regard¬ing the origin of electricity. Blockchain solutions are expected to play an important big role in fostering peer-to-peer trading in microgrids, further democratizing and decentralizing the energy sector. New regulatory frameworks become necessary. Research limitations/implications – The Delphi study’s scope is rather broad than narrow and detailed. Further studies should focus on partial scenarios. Practical implications – Electricity market participants should build blockchain-based competences and collaborate in current pilot projects. Social implications – Blockchain technology will further decentralize the energy sector and probably reduce transaction costs. Originality/value – Despite the assumed importance of blockchain technology, no coherent foresight study on its use and implications exists yet. This study closes this research gap.
... However, the production of electricity required to run the Bitcoin network has been linked to air pollution, which directly impacts human health. 16 Governance considerations Governance might seem like the leastrelevant ESG factor that concerns Bitcoin, because by design Bitcoin is not controlled by any entity. However, multiple parties have a significant influence on Bitcoin and its surrounding ecosystem. ...
Article
The digital currency Bitcoin is known for its energy hunger and associated carbon footprint. Investors, how-ever, must not neglect further environmental, social, and governance issues related to digital currencies. Therefore, we urge the adoption of a more comprehensive view in assessing the externalities of investments in Bitcoin and other cryptocurrencies.
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Quantitative systems modelling in support of climate policy has tended to focus more on the supply side in assessing interactions among technology, economy, environment, policy and society. By contrast, the demand side is usually underrepresented, often emphasising technological options for energy efficiency improvements. In this perspective, we argue that scientific support to climate action is not only about exploring capacity of "what", in terms of policy and outcome, but also about assessing feasibility and desirability, in terms of "when", "where" and especially for "whom". Without the necessary behavioural and societal transformations, the world faces an inadequate response to the climate crisis challenge. This could result from poor uptake of low-carbon technologies, continued high-carbon intensive lifestyles, or economy-wide rebound effects. For this reason, we propose a framing for a holistic and transdisciplinary perspective on the role of human choices and behaviours in influencing the low-carbon transition, starting from the desires of individuals and communities, and analysing how these interact with the energy and economic landscape, leading to systemic change at the macro-level. In making a case for a political ecology agenda, we expand our scope, from comprehending the role of societal acceptance and uptake of end-use technologies, to co-developing knowledge with citizens from non-mainstream and marginalised communities, and to defining the modelling requirements to assess the decarbonisation potential of shifting lifestyle patterns in climate change and action.
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The paper aims to identify pivotal predictors of cryptocurrency legal status in a sample of 134 countries, which includes jurisdictions where cryptocurrencies are legal as well as implicitly or explicitly banned. By applying the Bayesian model averaging (BMA) for logit models and sparse group least absolute shrinkage and selection operator (LASSO) to 26 candidate predictors, we find that higher values of voice and accountability index, capturing governance quality, increases the likelihood of free cryptocurrency circulation, whereas an enhanced access to electricity, conducive to intense cryptocurrency mining, produces the opposite effect. The latter may arise from the fact that regulators perceive an increased access to electricity as an early warning signal of excessive and, thus, speculative cryptocurrency activities in the future, thereby imposing preemptive regulatory restrictions. A battery of robustness checks confirm the relevance of voice and accountability index as well as access to electricity, also revealing digital adoption index, which promotes cryptocurrency legality, as their closest contender in terms of variable importance. Governments need to take into account the identified factors when shaping their regulatory stance on cryptocurrencies.
Article
This paper proposes and evaluates an integrated energy production system using two forms of renewable energy, solar and wind, in order to deliver cooling, heating, electricity, and water desalination. Along with organic Rankine cycle components (ORC), this diversified energy system includes an absorption refrigeration system, steam Rankine cycle (SRC), thermoelectrics, reverse osmosis, wind turbines, and parabolic-linear solar collectors. This study contains several innovations, including using thermoelectrics in the Rankine organic cycle instead of a condenser that gives the system a high capacity, utilizing parabolic solar collectors, and implementing wind energy as the direct source of electricity for such system. Energy, Exergy, and Exergoeconomic analysis approach is performed for the evaluation approach. EES software is used to model and analyze the data. As part of the validation process, the results are compared with those published previously and are found to be relatively consistent. The research results revealed four points. First, with the increase in solar radiation, the amount of freshwater produced for the system increased from 69.15 to 75.23 m³/h. Second, the total exergy efficiency increased from 54.24 to 77.27% when the steam turbine's inlet pressure was increased. Third, the system's total cost decreased from 77.27 to 28.30 $/h with increasing ambient temperature. Fourth, the highest exergy loss is associated with solar energy with a central receiver. Based on exergy losses, it was determined that a solar system with 60% and a wind turbine with 17% have the highest losses.
Chapter
The research work is focused on examining the role of artificial intelligence (AI) in addressing challenges associated with cryptocurrencies like Bitcoin, Ethereum, etc. The popularity of Bitcoin has sparked the emergence of new alternative cryptocurrencies, commonly referred to as ‘altcoins'. Simultaneously with its growing popularity and public awareness, the Bitcoin system has been branded as a haven for security breaches, selfish mining, money laundering, extreme volatility, and unpredictability of future prices. To address these challenges, stakeholders accepting cryptocurrencies must apply AI techniques to process and analyze large amounts of cryptocurrency data. In this context, this chapter discusses the recent research work to assist the researchers and practitioners in the cryptocurrency domain to make fact-based decisions by using AI techniques. Consequently, the chapter provides a detailed review of the background on fiat currencies, cryptocurrencies, challenges associated with cryptocurrencies, and the role of AI techniques in addressing those challenges.
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Blockchain is a disruptive technology that is revolutionizing information technology and represents a change of cultural paradigm for the way in which information is shared. Companies are rushing to understand how they can use blockchain distributed ledger technology to innovate processes, products and transactions. In a globalized world where environmental sustainability is a critical success factor, what is the role of the blockchain? By using a systematic review approach and the Preferred Reporting Items for Systematic Review and Meta-Analyses (PRISMA) protocol, this study attempts to identify whether and how blockchain technology is considered able to affect environmental sustainability. Findings from 195 studies from 2015 to 2020 were analysed after the search protocol was applied. The results indicate that blockchain technology could contribute to environmentally sustainable development goals (SDGs) from different points of view, such as supporting the realization of a sustainable supply chain, improving energy efficiency and promoting the creation of secure and reliable smart cities. Furthermore, the investigation highlights the sectors where to focus research investments, providing a way to reward sustainable behaviour and increasing environmental sustainability. On the other hand, blockchain has no negligible negative effects on the environment that need to be considered before adoption.
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Security token offerings (STOs), based on blockchain technology, are attracting increasing attention as an innovative alternative means of venture financing. Information about specific STOs is generally provided in white papers. This study analyses the content of white papers using a unique sample of 188 STOs from 2017 to 2021 to identify which topic is related to campaign success. We leverage latent Dirichlet allocation (LDA) topic modelling to identify the topics and themes in white papers. Nine topics are identified through LDA: company description, distributed ledger technology components, energy and green issues, financial and legal issues, artificial intelligence, and tech applications in different industries—specifically, healthcare, manufacturing and construction, education, and financial services. We find that energy and green issues represent one of the most prominent topics among all types of projects and that their disclosure is positively related to the probability of campaign success and the amount of funding raised. Another prominent topic that affects campaign outcomes is technology in the healthcare industry, reflecting wider investment trends in this sector. Our results may help entrepreneurs to improve their campaign disclosures and present new issues for policymakers regarding investments in digital tokens.
Preprint
How do interest groups advocating for emerging disruptive technologies use narrative strategies? We argue that the characteristics of this policy area should define how actors use policy narratives and narrative strategies. Interest groups which strive for innovation, support and development of emerging technologies should mention benefits of policies and policy proposals more than costs. Also, they should use the hero character more than the villain and victim characters. We study the Twitter messages of Blockchain for Europe, the most prevalent business association representing cryptocurrency companies in the EU and find evidence for these hypotheses. We show how novel interest groups use strategies to influence policies targeting emerging disruptive technologies like crypto-assets. Also, we contribute to Narrative Policy Framework (NPF) research by demonstrating how narrative strategies can be influenced by the context surrounding specific issues.
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Access to electric power and land are now key locational issues for the datacentre sector and most Nordic countries are pitching for their business. We use a comparative case analysis to illustrate several interrelated themes in Norway and Iceland, as both develop their datacentre sectors, but to date in differing ways. In both, digitalisation and datacentres are supported financially through equity holdings and securitisation issued via bespoke investment firms. For datacentres, this finance backs commoditised packages consisting of land with pre-approved planning permission; access to low-cost, reliable, renewable power; and a range of built infrastructure and computing options. Seeking to benefit from the development of monetised, dependent, regional Information Technology ecosystems, states assist with regulatory adjustments and municipalities with supportive land use zoning. Given the deeply entrained and multifaceted nature of the sector, we use our cases to highlight relationships between datacentre financing, spatial planning and infrastructure development in the two countries and also the ways in which the sector may take differing development trajectories. Overall, we build on the developing literature that is revealing the material realities of ‘the cloud’.
Chapter
Urban planning needs to discover and incorporate new energy sources to meet climate protection targets in the future. Waste heat from industrial and urban infrastructure has proven to be a viable solution, but its proper identification can be challenging, especially for smaller and unconventional sources. Our project relies on the principles of gamification enhanced by a blockchain based token system and crowdsourcing as methods to collect and utilise spatial data such as the location and the size of previously unused heat sources. The mobile platform-neutral HotCity App enables users to collectively patrol the city in search of waste heat sources and to gain tokens that can be exchanged for rewards. The blockchain platform Ardor was used for cheat proofing and to enable transparency for the reward system. The field test conducted in winter 2020/2021 showed high usability scores as well as high acceptance ratings of our approach opening up new use case scenarios in the context of spatial energy planning.
Chapter
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The “circular economy” practices within the concept of sustainability offer solutions to the problem of uncontrolled production and irresponsible consumption that the world is trying to overcome. Approaches are being developed within the framework of circular economy in many areas from economy to environment, from education to local government policies, from finance to trade. The book “Circular Economy and Sustainable Living” discusses the circular economy conceptually and questions its necessity. Afterwards, it focuses on the applications of this concept with chapters written by experts in the field. The peculiarity of this book is that it does not focus solely on the definition of the circular economy. Besides economic issues such as capital markets, value chains, labor market, cryptocurrencies, management of enterprises, the book also includes practices in education and environment. We hope that the book will contribute to the solution of the global economic and environmental problems experienced by the world with detections and suggestions.
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Cryptocurrency is becoming more and more popular due to its superiority to traditional currencies, resulting in the boom of mining. Mining cryptocurrencies requires tremendous computing resources, and extensive high-performance computers are used for mining nowadays. A significant consequent problem is the huge amount of energy consuming for mining. Thus, managing mining behaviors become an urgent issue. There are two main ways to detecting mining behavior. One is to deploy a detecting program on the target host, and use features of system calls to detect the mining behaviors. The other is to deploy detection models on network, and identify mining behaviors via network traffic. Comparing with the former method, detecting mining behavior by traffic is “non-contact”, and can monitoring a whole network instead of a single host. We propose in this paper a convolutional function based method to extract the features from the first few packets of flows to identify mining traffic. We first extract the size of each packet of a flow, and then design a convolution function with a sliding window to extract meaningful features from the packet size sequence. This method map the flows to a feature space in which the mining flows can be distinguished from the normal flows easily. We collect a set of mining traffic traces including 8 types of cryptocurrency mining behaviors in a real network, and launch a set of empirical studies using this data set. We also develop an online mining traffic identification platform to validate the performance of our proposal. Both the offline experimental results and the online validation results suggests that our proposal can achieve high performance satisfying the real mining traffic detecting requirements.
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The advantages of blockchain technology are numerous and its applications in healthcare industry are still under-estimated. In a context of increasing number of applications in healthcare sector it is important to adopt this technology in a way that is not at the origin of health issues for human beings. This short article discusses the potential side effects of a blockchain based healthcare industry that could mainly be due to the increasing needs in electricity for validation of all blockchain-based transactions\records. This note explains how and why this aspect could eventually generate some crypto-damages and ultimately might generate health issues. The aim of this essay is to provide some thoughts on the way blockchain technology could (or could not) be implemented to ensure a real sustainable, ethical and consistent healthcare system.
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Few financial market innovations offer the opportunities to enhance transaction efficiency, as does the potential of the blockchain and cryptocurrencies. The author demonstrates that this industry's unusual demand and supply relationship results in ever-increasing energy consumption if Proof-of-Work currencies rise in price faster than mining rewards decay. This previously undocumented challenge poses global warming risk. In addition, the accessibility and opacity of many cryptocurrencies create financial risks for inexperienced speculators. Digital currencies also reduce the ability of central banks to conduct monetary policy and challenge regulatory authorities to promulgate rules to protect the economy and consumers. The author explores these various risks, demonstrates how the design of Proof-of-Work cryptocurrency mining frustrates the efficiency they promise and describes mechanisms that would allow cryptocurrencies based on the blockchain to live up to their immense potential.
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What is the driving force of the evolution of monetary systems in the longrun? Based on an in-depth analysis of economic history and the findings of contemporary studies, Prof. S. Andryushin argues that it is the perpetual rivalry between centralization and decentralization. This article juxtaposes arguments for and against such a viewpoint. In particular, I assert that centralization or decentralization per se cannot safeguard financial stability, nor secure optimality of monetary policy. Both trends need to be assessed alongside with concomitant political and economic factors as well as institutional environment. Against this backdrop, the ongoing trend towards decentralization associated with cryptocurrencies is so far unlikely to remedy all the drawbacks of the contemporary monetary system.
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Fine particulate matter (PM 2.5 ) air pollution has been recognized as a major source of mortality in the United States for at least 25 years, yet much remains unknown about which sources are the most harmful, let alone how best to target policies to mitigate them. Such efforts can be improved by employing high-resolution geographically explicit methods for quantifying human health impacts of emissions of PM 2.5 and its precursors. Here, we provide a detailed examination of the health and economic impacts of PM 2.5 pollution in the United States by linking emission sources with resulting pollution concentrations. We estimate that anthropogenic PM 2.5 was responsible for 107,000 premature deaths in 2011, at a cost to society of $886 billion. Of these deaths, 57% were associated with pollution caused by energy consumption [e.g., transportation (28%) and electricity generation (14%)]; another 15% with pollution caused by agricultural activities. A small fraction of emissions, concentrated in or near densely populated areas, plays an outsized role in damaging human health with the most damaging 10% of total emissions accounting for 40% of total damages. We find that 33% of damages occur within 8 km of emission sources, but 25% occur more than 256 km away, emphasizing the importance of tracking both local and long-range impacts. Our paper highlights the importance of a fine-scale approach as marginal damages can vary by over an order of magnitude within a single county. Information presented here can assist mitigation efforts by identifying those sources with the greatest health effects.
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Bitcoin is a power-hungry cryptocurrency that is increasingly used as an investment and payment system. Here we show that projected Bitcoin usage, should it follow the rate of adoption of other broadly adopted technologies, could alone produce enough CO2 emissions to push warming above 2 °C within less than three decades.
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Bitcoin is a digital cryptocurrency that has attracted substantial interest in recent years from the general public, profit seekers, risk takers, academic practitioners, and, last but not least, economists. Although it is referred to as new, Bitcoin has existed since 2009 and is rooted in technology that goes back even farther. It was the first established cryptocurrency, with the first trade in 2010. Since 2015, Bitcoin has attracted even more attention because of its increase in value and volume of exchange. The Bitcoin system maintains a global, distributed cryptographic ledger of transactions, or blockchain, through a consensus algorithm running on hardware scattered around the world. This paper discusses the nature of cryptocurrency and blockchain, how it works, and the present status of Bitcoin blockchain in different countries around the world. The paper also includes a review of literature on Bitcoin engineering, Bitcoin as currency and the cryptocurrency system, related work on queuing theory, and work on competition and monopoly. The paper explores three possible outcomes with regard to the future prospects of Bitcoin. The various aspects of this technology are yet to be revealed in detail, but the authors hope that this simple, basic, and narrative paper will be helpful to those seeking basic references regarding this newest issue.
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We conducted an extended follow-up and spatial analysis of the American Cancer Society (ACS) Cancer Prevention Study II (CPS-II) cohort in order to further examine associations between long-term exposure to particulate air pollution and mortality in large U.S. cities. The current study sought to clarify outstanding scientific issues that arose from our earlier HEI-sponsored Reanalysis of the original ACS study data (the Particle Epidemiology Reanalysis Project). Specifically, we examined (1) how ecologic covariates at the community and neighborhood levels might confound and modify the air pollution-mortality association; (2) how spatial autocorrelation and multiple levels of data (e.g., individual and neighborhood) can be taken into account within the random effects Cox model; (3) how using land-use regression to refine measurements of air pollution exposure to the within-city (or intra-urban) scale might affect the size and significance of health effects in the Los Angeles and New York City regions; and (4) what exposure time windows may be most critical to the air pollution-mortality association. The 18 years of follow-up (extended from 7 years in the original study [Pope et al. 1995]) included vital status data for the CPS-II cohort (approximately 1.2 million participants) with multiple cause-of-death codes through December 31, 2000 and more recent exposure data from air pollution monitoring sites for the metropolitan areas. 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When ecologic covariates were simultaneously included at both the MSA and DIFF levels, the hazard ratio (HR) for mortality from IHD associated with PM2.5 exposure (average concentration for 1999-2000) increased by 7.5% and that associated with SO4(2-) exposure (average concentration for 1990) increased by 12.8%. The two covariates found to exert the greatest confounding influence on the PM2.5-mortality association were the percentage of the population with a grade 12 education and the median household income. Also in the Nationwide Analysis, complex spatial patterns in the CPS-II data were explored with an extended random effects Cox model (see Glossary of Statistical Terms at end of report) that is capable of clustering up to two geographic levels of data. Using this model tended to increase the HR estimate for exposure to air pollution and also to inflate the uncertainty in the estimates. Including ecologic covariates decreased the variance of the results at both the MSA and ZCA scales; the largest decrease was in residual variation based on models in which the MSA and DIFF levels of data were included together, which suggests that partitioning the ecologic covariates into between-MSA and within-MSA values more completely captures the sources of variation in the relationship between air pollution, ecologic covariates, and mortality. Intra-Urban Analyses were conducted for the New York City and Los Angeles regions. The results of the Los Angeles spatial analysis, where we found high exposure contrasts within the Los Angeles region, showed that air pollution-mortality risks were nearly 3 times greater than those reported from earlier analyses. This suggests that chronic health effects associated with intra-urban gradients in exposure to PM2.5 may be even larger between ZCAs within an MSA than the associations between MSAs that have been previously reported. However, in the New York City spatial analysis, where we found very little exposure contrast between ZCAs within the New York region, mortality from all causes, cardiopulmonary disease (CPD), and lung cancer was not elevated. A positive association was seen for PM2.5 exposure and IHD, which provides evidence of a specific association with a cause of death that has high biologic plausibility. These results were robust when analyses controlled (1) the 44 individual-level covariates (from the ACS enrollment questionnaire in 1982; see 44 Individual-Level Covariates sidebar on page 22) and (2) spatial clustering using the random effects Cox model. Effects were mildly lower when unemployment at the ZCA scale was included. 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The HRs for mortality associated with exposure to SO2 were highest in the most recent time window (1 to 5 years), although none of these HRs were significantly elevated. Identifying critical exposure time windows remains a challenge that warrants further work with other relevant data sets. This study provides additional support toward developing cost-effective air quality management policies and strategies. The epidemiologic results reported here are consistent with those from other population-based studies, which collectively have strongly supported the hypothesis that long-term exposure to PM2.5 increases mortality in the general population. Future research using the extended Cox-Poisson random effects methods, advanced geostatistical modeling techniques, and newer exposure assessment techniques will provide additional insight.
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Associations have been found between day-to-day particulate air pollution and increased risk of various adverse health outcomes, including cardiopulmonary mortality. However, studies of health effects of long-term particulate air pollution have been less conclusive. To assess the relationship between long-term exposure to fine particulate air pollution and all-cause, lung cancer, and cardiopulmonary mortality. Vital status and cause of death data were collected by the American Cancer Society as part of the Cancer Prevention II study, an ongoing prospective mortality study, which enrolled approximately 1.2 million adults in 1982. Participants completed a questionnaire detailing individual risk factor data (age, sex, race, weight, height, smoking history, education, marital status, diet, alcohol consumption, and occupational exposures). The risk factor data for approximately 500 000 adults were linked with air pollution data for metropolitan areas throughout the United States and combined with vital status and cause of death data through December 31, 1998. All-cause, lung cancer, and cardiopulmonary mortality. Fine particulate and sulfur oxide--related pollution were associated with all-cause, lung cancer, and cardiopulmonary mortality. Each 10-microg/m(3) elevation in fine particulate air pollution was associated with approximately a 4%, 6%, and 8% increased risk of all-cause, cardiopulmonary, and lung cancer mortality, respectively. Measures of coarse particle fraction and total suspended particles were not consistently associated with mortality. Long-term exposure to combustion-related fine particulate air pollution is an important environmental risk factor for cardiopulmonary and lung cancer mortality.
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This paper considers the potential of blockchain technology to empower distributed and decentralized local electricity markets. Although blockchain has gained considerable attention in the last few years as a facilitator for new electricity markets, no attention has yet been given to its potential influence on the configuration of the actors in the electricity system and its ability to transform the existing system. Based on a social network analysis, this paper investigates how blockchain can influence the actor configuration of the electricity system in the Netherlands. After describing the Dutch system, we compare the existing with the potential future system’ actor configuration and the corresponding expected shifts in functions and network position of the actors. We conclude that although many functions are likely to remain and new central authorities may be formed, the impact of blockchain does not seem to be as disruptive and decentralizing as may be expected. This study provides first contributions to the ongoing discussion about the potential of blockchain to disrupt and reshape the electricity system.
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Participation in the Bitcoin blockchain validation process requires specialized hardware and vast amounts of electricity, which translates into a significant carbon footprint. Here, we demonstrate a methodology for estimating the power consumption associated with Bitcoin’s blockchain based on IPO filings of major hardware manufacturers, insights on mining facility operations, and mining pool compositions. We then translate our power consumption estimate into carbon emissions, using the localization of IP addresses. We determine the annual electricity consumption of Bitcoin, as of November 2018, to be 45.8 TWh and estimate that annual carbon emissions range from 22.0 to 22.9 MtCO2. This means that the emissions produced by Bitcoin sit between the levels produced by the nations of Jordan and Sri Lanka, which is comparable to the level of Kansas City. With this article, we aim to gauge the external costs of Bitcoin and inform the broader debate on the costs and benefits of cryptocurrencies.
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While scholars have studied the impacts of energy development booms on local communities in the U.S., much less is known about towns experiencing energy consumption booms from industries such as cryptocurrency mining. This article proposes that energy consumption boomtowns are unique in the risks, benefits, and conflicts they create-and that they provide fruitful areas of research for energy social scientists. We illustrate this point with a brief case study of Chelan County, Washington-where an influx of crypto mining over the past five years has stirred community debate. We collected more than 100 newspaper articles, public comments, and public meeting recordings to identify the cautions, hesitations, and criticisms that have caused local regulators to take a precautionary approach. We highlight five key points of the debate that may be of interest to energy social scientists: (1) impacts on the local energy supply and prices, (2) unclear socioeconomic benefits to the county, (3) the illegitimacy of cryptocurrency, (4) environmental considerations, and (5) a disconnect with local legacy industries and community economic identity. We conclude by proposing areas of future social science research on energy consumption booms.
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Bitcoin soaks up most of the hype and the opprobrium heaped on cryptocurrencies, leaving its younger and smaller sibling Ethereum in the shadows. But Ethereum is anything but small. Its market capitalization was roughly US $10 billion at press time, and it has an equally whopping energy footprint.
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Government agencies throughout the world use the value of a statistical life (VSL) to monetise the mortality risk reduction benefits of government policies. The most reliable empirical estimates of the VSL using US labour market data are about US$10 million (year 2015 US dollars). Based on international estimates of the income elasticity of the VSL, one can transfer these values to other countries, leading to my VSL estimate for Australia of US$7.9 million, or A$10.0 million, which is over double the current Australia best-practices value. Transferring US VSL estimates to other nations after accounting for income differences will boost global VSL estimates. Potential refinements of the VSL based on age and income are also feasible. The VSL could serve a pivotal role in promoting safety by valuing lives in litigation contexts, regulatory sanctions, and corporate risk analyses.
Article
Bitcoin is an electronic currency that has become increasingly popular since its introduction in 2008. Transactions in the bitcoin system are stored in a public transaction ledger (‘the blockchain’), which is stored in a decentralized, peer-to-peer network. Bitcoin provides decentralized currency issuance and transaction clearance. The security of the blockchain depends on a compute-intensive algorithm for bitcoin mining, which prevents double spending of bitcoins and tampering with confirmed transactions. This ‘proof-of-work’ algorithm is energy demanding. How much energy is actually consumed, is subject of debate. We argue that this energy consumption currently is in the range of 100–500 MW. We discuss the developments in bitcoin mining hardware. We also briefly outline alternative schemes that are less energy demanding. We finally look at other blockchain applications, and argue that also here energy consumption is not of primary concern.
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Rational decision making regarding the safety related investment programs greatly depends on the economic valuation of traffic crashes. The primary objective of this study was to estimate the social value of statistical life in the city of Nanjing in China. A stated preference survey was conducted to investigate travelers’ willingness to pay for traffic risk reduction. Face-to-face interviews were conducted at stations, shopping centers, schools, and parks in different districts in the urban area of Nanjing. The respondents were categorized into two groups, including motorists and non-motorists. Both the binary logit model and mixed logit model were developed for the two groups of people. The results revealed that the mixed logit model is superior to the fixed coefficient binary logit model. The factors that significantly affect people’s willingness to pay for risk reduction include income, education, gender, age, drive age (for motorists), occupation, whether the charged fees were used to improve private vehicle equipment (for motorists), reduction in fatality rate, and change in travel cost. The Monte Carlo simulation method was used to generate the distribution of value of statistical life (VSL). Based on the mixed logit model, the VSL had a mean value of 3,729,493 RMB ($586,610) with a standard deviation of 2,181,592 RMB ($343,142) for motorists; and a mean of 3,281,283 RMB ($505,318) with a standard deviation of 2,376,975 RMB ($366,054) for non-motorists. Using the tax system to illustrate the contribution of different income groups to social funds, the social value of statistical life was estimated. The average social value of statistical life was found to be 7,184,406 RMB ($1,130,032).
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We model intraurban intake fraction (iF) values for distributed ground-level emissions in all 3646 global cities with more than 100,000 inhabitants, encompassing a total population of 2.0 billion. For conserved primary pollutants, population-weighted median, mean, and interquartile range iF values are 26, 39, and 14-52 ppm, respectively, where 1 ppm signifies 1 g inhaled/t emitted. The global mean urban iF reported here is roughly twice as large as previous estimates for cities in the United States and Europe. Intake fractions vary among cities owing to differences in population size, population density, and meteorology. Sorting by size, population-weighted mean iF values are 65, 35, and 15 ppm, respectively, for cities with populations larger than 3, 0.6-3, and 0.1-0.6 million. The 20 worldwide megacities (each >10 million people) have a population-weighted mean iF of 83 ppm. Mean intraurban iF values are greatest in Asia and lowest in land-rich high-income regions. Country-average iF values vary by a factor of 3 among the 10 nations with the largest urban populations.
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A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
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Cited By (since 1996): 107 , Export Date: 4 February 2013 , Source: Scopus , The following values have no corresponding Zotero field: Author Address: School of Public Health, Harvard University, Campbridge, MA, United States Author Address: School of Public Health, University of California at Berkeley, Berkeley, CA, United States Author Address: Department of Civil and Environmental Engineering, University of California at Berkeley, Berkeley, CA, United States Author Address: Institute of Environmental Science and Technology, Swiss Federal Institute of Technology, Lausanne, Switzerland Author Address: School of Public Health, University of California at Berkeley, Berkeley, CA, United States
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