Energy Web, RMI, and the Alliance for Innovative Regulation (AIR) recently unveiled the Crypto Climate Accord, an initiative committed to making the cryptocurrency industry 100% renewable by 2030. The Accord accounts for leading organizations in the financial technology arena, and has support from the United Nations Framework Convention on Climate Change (UNFCCC) Climate Champions.
Cryptocurrency is becoming more mainstream and integrated into the economy. Goldman Sachs and Morgan Stanley already offer bitcoin funds to wealthy clients, PayPal enabled merchants to accept crypto payments, and S&P Down Jones launched a crypto index. These and other developments in the industry are likely to push the adoption of cryptocurrencies further.
Public blockchains that create cryptocurrencies use more electricity per transaction than any other method. According to an Energy Web estimate last year, the top five public blockchains use up to 170 terawatt hours of electricity per year, more than the whole state of New York. As crypto adoption increases, this number will only go up.
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