Germany should help replace cryptocurrency mining

Read all of Marlon Ebert's proposals:

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.

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.

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