The Truth About Blockchain’s Impact on the Environment

The Truth About Blockchain’s Impact on the Environment

In recent years, blockchain technology has become increasingly prevalent across a wide range of industries and applications, from food and beverage to manufacturing to border patrol operations. It’s is being implemented in supply chain monitoring, financial services, Big Data storage, payment processing, and smart contracts. It’s attracted attention from several major companies, including IBM, Walmart, and FedEx, and it’s being touted as one of the biggest tech disruptions of the 21st century.

However, there are some detractors who say that blockchain, partly due to its relationship to the cryptocurrency Bitcoin, has a massively negative impact on the environment. Because of the high energy use involved, for instance, blockchain can have a surprisingly high carbon footprint. But on the other side of the spectrum, there are many proponents who say that blockchain is actually a boon for environmental causes.