Digital currencies are fundamentally changing the way we think about money and banking. The rapid rise of cryptocurrencies like Bitcoin, along with the
And it’s not like the traditional banking industry is energy efficient. I would argue that they use more power especially if you consider the lifestyle of banking executives.
The energy usage was criticized not in absolute terms, but in relation to the numbers of transactions. Cryptocurrencies are criticized for consuming more energy while being much lower in volume.
That said, we do need projects like Monero now. At least at the present moment, it is the closest we have to “digital cash”.
Thats before u account for building a branch in every town/city, the cost of the employees driving to work, the driving of physical cash from place to place etc etc.
And it’s not like the traditional banking industry is energy efficient. I would argue that they use more power especially if you consider the lifestyle of banking executives.
The energy usage was criticized not in absolute terms, but in relation to the numbers of transactions. Cryptocurrencies are criticized for consuming more energy while being much lower in volume.
That said, we do need projects like Monero now. At least at the present moment, it is the closest we have to “digital cash”.
Thats before u account for building a branch in every town/city, the cost of the employees driving to work, the driving of physical cash from place to place etc etc.