Digital Currencies and Energy Consumption

Sandri, Damiano; Agur, Itai; Tourpe, Hervé; Deodoro, Jose; Peria, Soledad Martinez; Bauer, German Villegas; Lavayssière, Xavier

doi:10.5089/9798400208249.063

Cited by 9 publications

(3 citation statements)

References 6 publications

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“…1) Cryptocurrency Technology: An extensive body of work has investigated the electricity consumption characteristics of cryptocurrencies [16], [17], [25], showing that these differ fundamentally (see Table I). Early permissionless cryptocurrencies, building on PoW consensus (type III in Table I), have been criticized for their extreme electricity consumption [13]- [21].…”

Section: A Background Literaturementioning

confidence: 99%

The More You Know: Energy Labelling Enables More Sustainable Cryptocurrency Investments

Drăgnoiu,

Platt,

Wang

et al. 2023

2023 IEEE 43rd International Conference on Distributed Computing Systems Workshops (ICDCSW)

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Section: A Background Literaturementioning

confidence: 99%

The More You Know: Energy Labelling Enables More Sustainable Cryptocurrency Investments

Drăgnoiu,

Platt,

Wang

et al. 2023

2023 IEEE 43rd International Conference on Distributed Computing Systems Workshops (ICDCSW)

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“…First, a dependable and uninterrupted supply of electricity plays a crucial role in facilitating digital payments, as highlighted by Agur et al (2022). Interruptions in power supply have adverse effects on users, suppliers and access points of payment services.…”

Section: Digital Payments Infrastructurementioning

confidence: 99%

The adoption of digital payments in emerging economies: challenges and policy responses

Putrevu,

Mertzanis

2023

DPRG

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Purpose This paper aims to present a comprehensive overview of the emergence and significance of digital payments, focusing on their impact on competitiveness and the need for policy interventions. In addition, it explores the design of policies that promote the adoption of digital payments, highlighting the benefits they offer to providers and users. Design/methodology/approach The paper examines the technological advances that have driven the growth of digital payment systems. It identifies key requirements for successful adoption and discusses the associated risks, along with potential strategies to mitigate these risks. Findings The findings emphasize the importance of responsible implementation and safeguarding the well-being of end users to fully realize the benefits of digital payment adoption. Understanding the inherent risks and establishing effective risk mitigation mechanisms are crucial. This necessitates the development of appropriate infrastructure to support the provision of digital payment services. Research limitations/implications More research is needed to gain deeper insights into how emerging global trends in financial technology should be analyzed and understood by policymakers, service providers and users. Practical implications The findings of this study can guide policymakers, private sector managers and consumers in comprehending the effects of emerging digitalization trends and determining their adoption responses accordingly. Originality/value This paper stands out as one of the few research contributions that provide comprehensive and actionable policy recommendations to facilitate a smooth transition to a digital payments ecosystem that benefits all stakeholders.

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“…6 Rather than a competitive validation process, the proof-of-stake protocol randomly selects a validator (among a pool of validators who put up stake upfront with crypto assets of their own) based on a weighted algorithm. For a discussion of digital asset technological options and their energy profiles, see Agur et al (2022) and Saleh (2020). 7 The needed carbon price can be applied through a cap and trade scheme or a carbon tax.…”

Section: Introductionmentioning

confidence: 99%