Cryptocurrency & Its Impact on Environment

International Journal of Cryptocurrency Research ISSN: 2790-1386 Int.J.Cryp.Curr.Res. 1(1) (2021) 1-4, DOI: https://doi.org/10.51483/IJCCR.1.1.2021.1-4

4 Pages Posted: 18 May 2021 Last revised: 18 Jan 2022

See all articles by Kamshad Mohsin

Kamshad Mohsin

Maharishi University of Information Technology

Date Written: December 5, 2021

Abstract

Cryptocurrencies have gone a long way since their inception. While the conventional financial sector initially dismissed digital currencies as tools for crooks and speculators, the sector has made considerable progress in establishing itself as a genuine and (possibly) world-changing arena. There are still concerns about the long-term effects of widespread cryptocurrency usage. Many skeptics and environmentalists, in particular, have expressed worry about the energy consumption of cryptocurrency mining, which may result in increasing carbon emissions and climate change. The mainstreaming of cryptocurrency, as it has been dubbed, is clearly a significant event in the world of finance. It's also a significant event in the world of, well, the globe. Whether you like cryptocurrencies or oppose them, there's no denying that bitcoin and other proof-of-work blockchains use massive amounts of energy.

Keywords: Cryptocurrencies, Bitcoin, cryptocurrency, Environment, Bitcoin mining, Energy, Environmental Concerns

Suggested Citation

Mohsin, Kamshad, Cryptocurrency & Its Impact on Environment (December 5, 2021). International Journal of Cryptocurrency Research ISSN: 2790-1386 Int.J.Cryp.Curr.Res. 1(1) (2021) 1-4, DOI: https://doi.org/10.51483/IJCCR.1.1.2021.1-4, Available at SSRN: https://ssrn.com/abstract=3846774 or http://dx.doi.org/10.2139/ssrn.3846774

Kamshad Mohsin (Contact Author)

Maharishi University of Information Technology ( email )

Indrapuri Colony
Diguria
Lucknow, 226013

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