Kentucky State Sen. Brandon Smith has sponsored a bill that would extend the state’s tax incentives for alternative and renewable energy businesses to decidedly environmentally unfriendly cryptocurrency mining operations. If that sounds like an unlikely combination consider this: The bill would rename the existing “Incentives for Energy Independence Act” the “Incentives for Energy-related Business Act.”
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Seeking carbon neutrality, French utility giant EDF turns to Hedera
The power company plans to use the Hedera Hashgraph blockchain to deploy a tokenized carbon offset and credit system, joining its governing council as a network node operator
EDF, the second largest power company worldwide, plans to use Hedera’s blockchain network in an attempt to achieve carbon neutrality by 2050. Gilles Deleuze, principal researcher for systems risk assessment at the firm’s research and development department, said that the network will be used to develop greenhouse gas certificates and decentralized electricity systems
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Is Bitcoin endangering the ‘green’ credentials of companies like Tesla?
Climate-conscious governments and activists are waking up to the fact that BTC is a power-hungry cryptocurrency, which could come back to bite the institutions whose investments are powering its price boom
BCA Research’s chief global strategist, Peter Berezin, predicted that Bitcoin’s Achilles heel will begin to scare off corporate investors off and cause governments to erect more obstacles to it success. The first to flee will be environmental, social, and governance-focused funds he said, adding that they will shun companies involved with Bitcoin, not just the cryptocurrency itself.
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As cool as this may seem, trading power on the blockchain should hopefully not look like this (via Pixabay).Fujitsu’s blockchain project lets consumers trade electricity with each other
B-to-B sales by power customers can take the strain off the grid and encourage green energy production
A new blockchain-based energy trading platform that encourages corporate energy consumers to trade power among themselves when the grid is strained by high demand led to a 40 percent improvement in efficiency in a simulation, Japanese multinational Fujitsu announced on Jan. 30.
