Is Crypto *Actually* Destroying the Planet?
In this second episode of our new web3 explainer series we ask an important, and hard to answer question: is crypto *actually* destroying the planet?\n\nOver the last year, crypto has witnessed mainstream adoption, with billions of dollars of value exchanged across different blockchains. But this shift has created a pressing problem: the current process of mining blocks and validating decentralized networks is extremely energy intensive. This means that running popular networks like Bitcoin and Ethereum has a massive carbon footprint. \n\nFor instance, a single transaction on the Ethereum blockchain is equivalent to the power consumption of an average US household over 7.86 days. Researchers at Cambridge University have estimated that the global mining of Bitcoin uses more electricity than entire countries\u2014countries the size of Argentina, Sweden, or Pakistan. \n\nAn increasing number of artists, creators, collectors, and environmentalists have voiced their concerns around crypto\u2019s impact on our climate and the need to spur change. But is their concern well-founded?\n\nIn this episode, we take a step back to fundamentally understand the problem. Is crypto actually destroying the planet? How is it doing so? And more importantly, what can we do about it? \n\nWe're joined by Joseph Pallant, the founder of the Blockchain for Climate Foundation, which is aiming to \u201cput the Paris Agreement on the blockchain.\u201d Joseph has been operating in this space for multiple years\u2014his work, insight, and advocacy makes him the perfect guest to unpack this divisive topic with refreshing nuance.