In the last months i heard a lot about the energy needs for mining and usage of crypto currencies. If you get the numbers, like comparing it with the energy need of Holland, it might get you to think. But you should take a step back an think about this topic again.
Critics say, that the hunger for energy is enormously. You can say YES, they are right. But as we all know crypto currencies help to decentralize a lot of businesses e. g. banks. The banking system will be hit the hardest. Because if we all use crypto currencies for daily payments and the Blockchain system for smart contracs like ethereum, they will be useless.
So if we compare the banking system and the energy needs for that it might get very interesting. Just think about all the buildings, computers, ATM and servers the banking system and their employers need. I think it might be just one city like New York, Singapore or Frankfurth, that have about the same problems the Blockchain does. The hunger for energy.
If we can decentralize banking with all the benefits. The energy need of big cities will fall and the reason is simple. The Blockchain doesn`t need any skyscrapers, a big lobby or an airplane to travel around the world for a handshake and a nice photo in an expensive suite. It is as it is. The Blockchain is decentralized and all people around the world are a part of it. For that we can also build energy efficient mining plants e. g. solar powered somewhere in the desert.
So the energy need of the Blockchain is huge but so is the energy need of the banking system right now. All the critics say the energy need is to much but i think in the process of decentralization we might save a lot of energy and ressources for next generations.
This is not a scientific article. Its just a thing i thought about.
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