The Sustainability Concerns with Blockchain, Bitcoin and NFTs
April 19, 2022
We’ve talked a lot about the blockchain, NFTs and Web 3.0 on Digging Deeper recently, but there’s a big concern out there over blockchain technology and its carbon footprint. It’s estimated that one Bitcoin transaction uses around 2,100 kilowatt hours. That’s the same energy the average U.S. household uses in 75 days. When the energy source powering the computers that churn out that transaction is non-renewable, more greenhouse gas emissions happen and the environment takes another hit.
But Bitcoin is one of hundreds of options for cryptocurrency and blockchain access. And this is where competition makes the market balanced for everyone. There are simply better options out there.
Matt Rickard is the co-founder of Task, a Stellar blockchain-based platform that helps companies connect their teams with the organizations social missions. But he is also the co-founder of The Blue Marble, a Steller-based NFTs marketplace. The common thread there is the Stellar-based blockchain which alleges to be faster, cheaper and more energy efficient than typical blockchain based systems.
Rickard educated us on the sustainability issue and blockchains, talk to us about The Blue Marble and how brands can be more responsible with NFT work in marketplaces like his and then help us understand the connection between a company, its employees and its social good.
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