Connect with us

Cryptocurrency

Bitcoin ‘Back Down’ in Battle Against Climate Change – Bitcoin News

Avatar

Published

on

Greenpeace, an international environmental non-governmental organization (NGO), has criticized the lack of action taken by Bitcoin-related groups in the battle against climate change. Rolf Skarr, of Greenpeace USA, stated that Bitcoin was “behind” the issue, explaining that most Bitcoin-related groups fail to even acknowledge the apparent problem.

Greenpeace criticizes the lack of Bitcoin action

Greenpeace, a well-known environmental organization, is criticizing the position taken by several Bitcoin-related companies and organizations regarding the so-called “climate change” phenomenon. According to its latest press release, most of the major players in the Bitcoin environment refuse to ever acknowledge the problem.

Rolf Skarr, Director of Special Projects, Greenpeace USA, advertiser:

Bitcoin lags further as others in the cryptocurrency industry work to address the climate crisis. While other crypto technologies are making changes to become more efficient and come up with approaches to address historical climate pollution, bitcoin mining has gotten dirtier in recent years with coal as the number one source of electricity.

The organization is calling for a change in how Bitcoin works, and is proposing a pivot from the existing PoW consensus mechanism, to a less energy-intensive Proof of Stake consensus. This batch is known asChange the blog, not the climate’, which also has the support of the World Economic Forum (WEF). This is exactly the change Ethereum made on September 15, in Event known as “merge”.

Advertisement

Ethereum hub

In contrast, following the aforementioned pivot, Ethereum is now seen as a much greener platform. Scar referred to the recently launched Ethereum Climate Platform as “an example of crypto platforms taking the initiative to mitigate the climate crisis.”

Climate Ethereum platform is alliance From Web3 companies that will address the environmental impact of Ethereum operations while using Proof-of-Work consensus. The group includes companies such as Microsoft, Huobi, Polygon, Consensys and Allinfra, and will focus its investment on various initiatives that seek to use existing technology to achieve decarbonisation.

Among these initiatives are green hydrogen, carbon-neutral energy opportunities, heating, cooling and other utilities, and decarbonization projects.

As part of its refusal to operate the Greenpeace bitcoin network I stopped by accepting bitcoin donations in May 2021, having implemented the functionality in 2014. At the time, the organization noted that “as the amount of energy needed to run bitcoin becomes more apparent, this policy is no longer tenable.”

tags in this story

bitcoinAnd the carbon emissionsAnd the compatibility mechanismAnd the Carbon removalAnd the intense energyAnd the EthereumAnd the Ethereum climate platformAnd the Green areaAnd the Proof of workAnd the Proof of stakeAnd the Rolf Scar

What do you think of Greenpeace and its criticism of Bitcoin? Tell us in the comments section below.

Advertisement

Sergio Gushchenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, getting into the world of crypto when the price spike occurred during December 2017. Having a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency boom on a social level, he offers a different perspective on the success of crypto and how it helps people. Those who do not deal with banks and the disadvantaged.

Image credits: Shutterstock, Pixabay, Wiki Commons, Rob Wilson / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com It does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Cryptocurrency

A Chinese court says NFTs are virtual property protected by law

Avatar

Published

on

A Chinese court in Hangzhou said that a non-fungible token (NFTGroups are virtual online property that must be protected by Chinese law.

November 29 Article Posted by Hangzhou Internet Court – A specialized Internet court – subscriber By crypto-blogger Wu Blockchain on Dec. 5 reveals the language of choice for NFTs after the country started to Crackdown on cryptocurrency In 2021, that leaves NFTs in a legal gray area.

The translated article says that NFTs “have the properties of a property rights object such as value, scarcity, controllability, and tradability” and “belong to the virtual property of the network” that “must be protected by the laws of our country.”

Advertisement

The court decided that it was necessary to “confirm the legal features of the digital NFT pool” of the case, and admitted that “currently Chinese laws do not clearly provide” for the “legal features of digital NFT pools.”

The court order was introduced in a case where an unnamed tech platform user sued the company for refusing to complete a sale and rescinding its purchase of NFT from a “quick sale” because the user provided a name and phone number that allegedly did not match their information.

“NFTs intensify the creator’s original expression of art and have the value of related intellectual property rights,” the court said. She added that NFTs are “unique digital assets formed on the blockchain based on the mechanism of trust and consensus between blockchain nodes.”

For this reason, the court said that “digital NFT pools belong to the category of virtual property” and the transaction in the legal case is seen as “the sale of digital goods through [the] The Internet “to be treated as an electronic business” and regulated by the “Electronic Commerce Law”.

This comes after the Shanghai Higher People’s Court issued a document in May that stated that bitcoin (BTC) similarly Subject to copyright laws and regulations despite the state’s ban on cryptocurrency.

Advertisement

Related: Can Hong Kong really become China’s proxy in crypto?

With encryption banned, China has worked on it Separate NFTs from cryptography Through a government-backed blockchain project to support the deployment of non-crypto NFTs paid with fiat money.

The government remains vigilant to ensure its residents resist “NFT speculation” as described in a joint statement in April between the China Banking Association, the China Internet Finance Association and the China Securities Association. Public warned About the “hidden risks” of investing in NFTs.

China is not the only jurisdiction to place NFTs under property laws. A Singaporean High Court judge relied on existing property laws in the October case NFTs are likened to physical possessions Like a fine watch or fine wine he says “NFTs have emerged as a highly sought after collector’s tool.”