A study conducted by experts at the Institute of Risk Management suggests that Bitcoin has the potential to contribute to the global energy transition and decrease the emission of harmful pollutants.
The research, titled “Bitcoin and the Energy Transition: From Risk to Opportunity,” was authored by Dylan Campbell and Alexander Larsen.
They argue that while the use of Bitcoin is often seen as a risk due to its high consumption of electricity, it could also pave the way for new solutions to global energy challenges.
The authors stress the crucial role of energy in the progress of society and the necessity for sustainable, clean, and affordable energy sources.
Despite the criticism surrounding its energy consumption, the research presents a balanced perspective, highlighting the potential benefits of Bitcoin mining.
According to Campbell and Larsen, mining the first cryptocurrency could potentially introduce at least seven new opportunities for improving the energy industry.