🌳Environmental Impact of Crypto and Blockchain
Last updated
Last updated
Blockchain technology, as acknowledged by the European Commission's commitment to leveraging innovation against climate change, holds immense potential. It acts as a potent instrument to enhance transparency, accountability, and traceability of greenhouse gas emissions. By facilitating accurate, standardized, and readily available data on carbon emissions, blockchain brings a transformative aspect to environmental efforts.
Considering the environmental impact of cryptocurrency and blockchain, BeaR recognizes the growing concerns and is committed to being part of the solution. The traditional proof-of-work (PoW) consensus mechanism used by many cryptocurrencies has drawn criticism for its energy consumption. However, BeaR employs a sustainable approach, utilizing proof-of-stake (PoS) that reduces blockchain’s energy consumption by over 99%.
Growing interest surrounding blockchain technology represents a transformative shift in finance, technology, and beyond, and BeaR stands at the forefront of this revolutionary wave. This increased interest isn't just a passing trend, it reflects a fundamental shift toward recognizing the value of blockchain with a projected compound annual growth rate of 82.8% by the year 2030. This surging interest is notably intertwined with the growing emphasis on environmental, social, and governance factors. As investors increasingly prioritize sustainability practices, blockchain emerges as a pivotal tool to address these concerns.
