Distributed degrowth technology: Challenges for blockchain beyond the green economy

Howson, Peter

doi:10.1016/j.ecolecon.2021.107020

Cited by 34 publications

(17 citation statements)

References 38 publications

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“…For example, Delegated Proof-of-Stake (DPoS) and the "Delegated Byzantine Fault Tolerance" (DBFT) models use negligible amounts of energy to grant validating power to stake-holding nodes. 42 Blockchain usage has experienced accelerated growth, which is a typical pattern during the early adoption of broadly used technologies. However, blockchain platforms are consuming vast amounts of electricity of 100 TWh yearly, enough to power the entire country of Netherlands or Finland.…”

Section: Projected Carbon Footprints Of Pow and Pos-based Blockchain ...mentioning

confidence: 99%

Confronting the Carbon-Footprint Challenge of Blockchain

Shi

Xiao

Liu

et al. 2023

Environ. Sci. Technol.

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The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof-of-Work (PoW). Here, we point out a different consensus mechanism named Proof-of-Stake (PoS) that can eliminate the extensive energy consumption of the current PoW-based blockchain. We comprehensively elucidate the current and projected energy consumption and carbon footprint of the PoW-and PoS-based Bitcoin and Ethereum blockchain platforms. The model of energy consumption of PoS-based Ethereum blockchain can lead the way toward the prediction of other PoS-based blockchain technologies in the future. With the widespread adoption of blockchain technology, if the current PoW mechanism continues to be employed, the carbon footprint of Bitcoin and Ethereum will push the global temperature above 1.5 °C in this century. However, a PoS-based blockchain can reduce the carbon footprint by 99% compared to the PoW mechanism. The small amount of carbon footprint from PoS-based blockchain could make blockchain an attractive technology in a carbon-constrained future. The study sheds light on the urgency of developing the PoS mechanism to solve the current sustainability problem of blockchain.

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Section: Projected Carbon Footprints Of Pow and Pos-based Blockchain ...mentioning

confidence: 99%

Confronting the Carbon-Footprint Challenge of Blockchain

Shi

Xiao

Liu

et al. 2023

Environ. Sci. Technol.

View full text Add to dashboard Cite

show abstract

“…Blockchain can encrypt, transmit, and store data without reliance on any third party. Blockchain can be divided into the following three categories based on its access mechanism: public blockchain, consortium blockchain, and private blockchain 16 . A public blockchain is open to the entire network and can be accessed by any user.…”

Section: Related Researchmentioning

confidence: 99%

Research on model design and operation mechanism of enterprise blockchain digital system

Wang

2022

Sci Rep

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Emerging technologies such as blockchain have accelerated the digitization of a variety of industries, improved the operational efficiency of enterprises, and promoted in-depth integration of digital technology with the real economy. Blockchain has characteristics that include distributed storage, peer-to-peer transmission, strong confidentiality, and easy traceability. This article introduces blockchain into an enterprise’s information management system with the aim of breaking the enterprise’s digital barriers by using technologies such as distributed ledgers, smart contracts, and asymmetric encryption, thus improving the security and applicability of the enterprise data assets. This article explores the characteristics and security of three types of blockchain in depth, designs the model framework of the blockchain digital system (BDS) based on industry needs, and analyzes the functions and the operating mechanisms of each level of the system in detail. Finally, based on the characteristics of public blockchain, consortium blockchain, and private blockchain, three typical application scenarios in which the BDS can be used are selected, and the article discusses how E-retail supply chains, virtual power plants, and carbon trading platforms can realize digital management using the BDS, thus providing a practical basis for construction and application of the BDS.

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“…Limited financial resources restrict the industrial community from embracing the advanced technology for the transition toward GE. As a result, the industrial community of developing countries struggles in their incorporation of advanced technologies (Howson, 2021). Earlier studies on GE emphasize the positive benefits and advantages, and some studies have discussed the difficulties in embracing GE practices.…”

Section: Research Gaps and Contributionsmentioning

confidence: 99%

Causality analytics among key factors for green economy practices: Implications for sustainable development goals

Karuppiah

Sankaranarayanan

Ali

et al. 2022

Front. Environ. Sci.

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The green economy (GE) concept is believed to have the ability to turn natural resources into wealth in a sustainable manner. As a result, the GE concept is viewed as a magic key to the attainment of sustainable development goals (SDGs). This study aims to identify and evaluate the critical factors in GE practices. Based on literature review and industrial interaction, five dimensions of critical factors, namely, economic and market, technical and R&D, policy and regulation, networks and social capital, and public perceptions, with a total of 20 critical factors were identified and evaluated. The Fermatean fuzzy system (FFS)-based decision-making trial and evaluation laboratory (DEMATEL) technique has been used to evaluate the causality among the critical factors. Results reveal that win-win anticipations, the commitment of key stakeholders, the domestic market structure, cost of alternatives, and financial assistance are the top five critical factors in GE practices. Three critical factors are classified under the cause category, and the remaining 17 critical factors come under the effect category. This study contributes to the literature on GE by revealing the causal interrelationship among the critical factors. This will guide industrial management to take appropriate actions in the implementation of GE practices.

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Distributed degrowth technology: Challenges for blockchain beyond the green economy

Cited by 34 publications

References 38 publications

Confronting the Carbon-Footprint Challenge of Blockchain

Confronting the Carbon-Footprint Challenge of Blockchain

Research on model design and operation mechanism of enterprise blockchain digital system

Causality analytics among key factors for green economy practices: Implications for sustainable development goals

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