Conclusion

Ertz, Myriam; Bousquet, Julien; Hallegatte, Damien

doi:10.2307/j.ctv10qqx4s.20

Cited by 1 publication

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“…The accelerated development of new technologies is transforming the traditional forms and balances of economic and social organization [1]. In particular, the confluence of technological, economic, and socio-cultural factors is changing the conventional ways in which commercial exchanges take place [2] and by extension, payment systems [3]. In recent years, a diverse set of virtual or digital currencies known as cryptocurrencies have emerged strongly that act as means of exchange and adopt the functions of money in this sense, but "unlike traditional currency, is untethered to, and independent from, national borders, central banks, sovereigns, or fiats" [4].…”

Section: Introductionmentioning

confidence: 99%

Cryptocurrency Mining from an Economic and Environmental Perspective. Analysis of the Most and Least Sustainable Countries

et al. 2021

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There are different studies that point out that the price of electricity is a fundamental factor that will influence the mining decision, due to the cost it represents. There is also an ongoing debate about the pollution generated by cryptocurrency mining, and whether or not the use of renewable energies will solve the problem of its sustainability. In our study, starting from the Environmental Performance Index (EPI), we have considered several determinants of cryptocurrency mining: energy price, how that energy is generated, temperature, legal constraints, human capital, and R&D&I. From this, via linear regression, we recalculated this EPI by including the above factors that affect cryptocurrency mining in a sustainable way. The study determines, once the EPI has been readjusted, that the most sustainable countries to perform cryptocurrency mining are Denmark and Germany. In fact, of the top ten countries eight of them are European (Denmark, Germany, Sweden, Switzerland, Finland, Austria, and the United Kingdom); and the remaining two are Asian (South Korea and Japan).

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Section: Introductionmentioning

confidence: 99%