Germany should help replace cryptocurrency mining



Published
Read all of Marlon Ebert's proposals: https://dgap.org/en/research/publications/sustainable-crypto-currencies

Cryptocurrencies are here to stay – and that’s a good thing. But many cryptos – like Bitcoin – use an energy-intensive proof-of-work mining process which aggravates semiconductor shortages and undermines environmental objectives. Germany has an opportunity to foster innovation to replace mining and support a more sustainable crypto ecosystem. Doing so will help free up supply of high-demand semiconductors, reduce energy consumption, and grow Germany’s innovation base while allowing Germany to benefit from the opportunities this new digital medium can bring.

Highlights
00:00 Introduction
00:12 The problem with crypto currency MINING
01:26 Crypto currency fundamentals
02:56 Germany should intervene
05:11 Nudge markets away from mining

About this series:
The federal election on September 26, 2021, was a watershed moment in Germany’s international relations. In light of this key election, DGAP publishes weekly additions to its Memo series that contain concise insights and recommendations for action for the next government along three core themes: Making German Foreign Policy Fit for Purpose; (Re)Positioning Germany in Europe; and Germany in the World: Challenges and Opportunities.

Follow us on social media:
Twitter: https://twitter.com/dgapev
Instagram: https://www.instagram.com/dgapev
Facebook: https://www.facebook.com/dgapev
LinkedIn: https://www.linkedin.com/company/90658
Category
Cryptocurrency Mining
Be the first to comment