Cryptodamages: Monetary value estimates of the air pollution and human health impacts of cryptocurrency mining

Goodkind, Andrew L.; Jones, Benjamin A.; Berrens, Robert P.

doi:10.1016/j.erss.2019.101281

Cited by 110 publications

(61 citation statements)

References 18 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The second challenge is related to the algorithmic protocol used to validate smart contracts (including smart sukuk ). Precisely, Ethereum offers a platform for smart contracts whose validation is ensured, as explained in Section 2, through a proof-of-work protocol, which is well-known to consume a high level of energy and eventually generates what experts call crypto-damages (Goodkind et al , 2020; Nguyen et al , 2020; Schinckus 2020b). This situation calls into question the principles of Maqasid al- Sharīʿah according to which transactions should not harm society.…”

Section: Discussionmentioning

confidence: 99%

Enhancing trust through digital Islamic finance and blockchain technology

Chong

2021

QRFM

View full text Add to dashboard Cite

Purpose This paper aims to provide a reflective discussion on the different avenues of blockchain application in Islamic finance in promoting trust and transparency for increased accountability between parties involved in the delivery of Sharīʿah-compliant products and services. Design/methodology/approach This paper discusses on blockchain benefits in Islamic finance while providing an illustration with smart Sukuk. Having identified the advantages of the development of Islamic financial technology (i-FinTech), this study ends by debating a couple of challenges (computational codification of Sharīʿah principles and environmental impact) that have to be addressed to promote the development of a real sustainable Islamic FinTech. Findings This paper also identifies two challenges in using blockchain in i-Fintech. The first challenge refers to the extent to which Sharīʿah principles can be computationally encoded. Blockchain makes public all transactions that ease Sharīʿah compliance checks and determine if these transactions are Islamic in nature but this check can be done only after their operation. The second challenge is related to the algorithmic protocol used to validate smart contracts (including smart Sukuk). This situation calls into question the principles of Maqasid al-Sharīʿah according to which transactions should not harm society. Originality/value In the current debates related to the development of Islamic FinTech, this paper also identifies two challenges in using blockchain in i-Fintech.

show abstract

Section: Discussionmentioning

confidence: 99%

Enhancing trust through digital Islamic finance and blockchain technology

Chong

2021

QRFM

View full text Add to dashboard Cite

show abstract

“…How will social, political and financial structures evolve and adapt to a quantum world? In recent times, the development of AI and Blockchain has highlighted the importance of considering emerging technologies ' social, legal, and environmental implications (Mantelero, 2018) (Goodkind et al, 2020). History offers additional lessons: despite its obvious benefits to society, the Industrial Revolution also unleashed environmental repercussions that are being felt acutely today.…”

Section: Towards a Quantum Futurementioning

confidence: 99%

Beyond the Binary: Building a Quantum Future

Ghose¹

2021

Morals & Machines

View full text Add to dashboard Cite

Quantum mechanics has not only revolutionized our understanding of the fundamental laws of the universe, but has also transformed modern computing and communications technologies, leading to our current information age. The inherently nondeterministic nature of the theory is now leading to radical and powerful new frameworks for information processing and data transmission. This new quantum revolution raises social, political and ethical questions, but also provides an opportunity to develop quantum-inspired frameworks to examine and build the quantum information era.

show abstract

“…Public blockchains rely on a proof-of-work consensus mechanism, where the so-called miners compete against each other in validating new blocks to earn a reward (Strüker et al , 2019). While a proof-of-work consensus mechanism is relatively time- and energy-consuming and, therefore, causes more pollution (Goodkind et al , 2020), the proof-of-stake mechanism is more efficient. Here, nodes are selected randomly to confirm a transaction (Albrecht et al , 2018).…”

Section: Blockchain Technologymentioning

confidence: 99%

Powered by blockchain: forecasting blockchain use in the electricity market

Höhne

Tiberius

2020

IJESM

View full text Add to dashboard Cite

Purpose The purpose of this study is to formulate the most probable future scenario for the use of blockchain technology within the next 5–10 years in the electricity sector based on today’s experts’ views. Design/methodology/approach An international, two-stage Delphi study with 20 projections is used. Findings According to the experts, blockchain applications will be primarily based on permissioned or consortium blockchains. Blockchain-based applications will integrate Internet of Things devices in the power grid, manage the e-mobility infrastructure, automate billing and direct payment and issue certificates regarding the origin of electricity. Blockchain solutions are expected to play an important big role in fostering peer-to-peer trading in microgrids, further democratizing and decentralizing the energy sector. New regulatory frameworks become necessary. Research limitations/implications The Delphi study’s scope is rather broad than narrow and detailed. Further studies should focus on partial scenarios. Practical implications Electricity market participants should build blockchain-based competences and collaborate in current pilot projects. Social implications Blockchain technology will further decentralize the energy sector and probably reduce transaction costs. Originality/value Despite the assumed importance of blockchain technology, no coherent foresight study on its use and implications exists yet. This study closes this research gap.

show abstract

Cryptodamages: Monetary value estimates of the air pollution and human health impacts of cryptocurrency mining

Cited by 110 publications

References 18 publications

Enhancing trust through digital Islamic finance and blockchain technology

Enhancing trust through digital Islamic finance and blockchain technology

Beyond the Binary: Building a Quantum Future

Powered by blockchain: forecasting blockchain use in the electricity market

Contact Info

Product

Resources

About