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Crypto's climate impact: Are carbon offsets good enough?
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As global leaders discuss what needs to be done to address the concerns surrounding climate change at the COP26 summit in Glasgow, Scotland, businesses throughout the world are looking to achieve carbon neutrality. Environmental impact has been a hot topic in the crypto sector with renaming it as being a top priority.
Earlier this year, electric car maker Tesla started accepting Bitcoin (BTC) payments and invested $1.5 billion in the cryptocurrency, only to drop BTC payments a few months later over concerns surrounding the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal.”
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
Since then, efforts for the crypto space to become environmentally friendly grew,
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