The technologies that support the entire crypto market do so with energy and data storage and processing, the cloud, social networks, and artificial intelligence.
Economic growth with green cryptocurrencies
Industries around the global economy are starting to put decarburization on their agendas to promote economic growth. Unfortunately, the crypto industry has definitely not been left behind especially BitQL, check their homepage.
The crypto world does not stop producing news, such as a digital currency that promises to revolutionize investments through green cryptocurrencies, as is the case with GBMcoin.
The rapid growth of the Bitcoin cryptocurrency promotes the appearance of new digital currencies, and, hand in hand with blockchain technology, alternatives arise that seek to offer the user benefits that go beyond the profitability of their investments.
It is correct to recognize that one of the main criticisms of cryptocurrencies is the impact their mining generates on the environment since all the operations carried out to ensure their function require high energy consumption.
Green coins a Solution to environmental sustainability problems
According to the Cambridge Center for Alternative Finance (CCAF) at the University of Cambridge, it is the view that Bitcoin accounts for 0.37% of the total global electricity production and 0.43% of its consumption, which means that the entire network consumes more electricity than Finland. Belgium or Chile, among other countries.
The environmental sustainability problems of the leading cryptocurrencies that entail high energy consumption promote the development of new, less polluting currencies.
They are called “green cryptocurrencies.” The more significant concern of the population, especially young people, for the environment is causing these new, more sustainable digital assets to gain popularity.
It is very important to note that one of the green cryptocurrencies that are receiving the most attention is Cardano. Experts support that it can become the next Ethereum by operating more scalable and sustainable.
In fact, according to its founders, Cardano is 1.6 million times more energy-efficient than Bitcoin, pending with this data because this coin’s potential has multiplied its value by 25.
In September 2020, its price was 0.12 dollars, and currently, it is around 2.5. Its global capitalization exceeds 90,000 million dollars, which has led it to become the third cryptocurrency.
With GBM coin, each user who acquires a token will be able to collaborate to preserve one m2 of the native biosphere out of a total of one million hectares in ten countries around the world.
It should be noted that the Banking Products Negotiating Agency foresees a boom in green mortgages this year, forced to reward the energy efficiency of a home or to inspire the improvement of those that, due to their age, have less favorable energy ratings.
On the other hand, they report that green mortgages will grow at a double-digit rate in 2024, driven by European funds to improve energy efficiency.
Green does not make them less volatile
It should be remembered and above all informed that all cryptocurrencies, including the greener members of the asset class, are highly volatile assets.
All this aims to contribute to preserving the environment and, in turn, the generation of financial strategies that can allow economic growth to its users.
The fact is that if cryptocurrencies continue to be generated where the commitment to the environment is less than the impact produced by traditional Bitcoin mining, then they will move to a higher level of positioning, causing profitability from whichever side you see it.
The tremendous current concern about climate change impacts not only a part of the earth. Still, it affects us all globally, which is why the creation of green cryptocurrencies is becoming more and more attractive.
It will surely attract many investors who base their operations on behalf of the environment.
The goal is to achieve sustainability in the world of cryptocurrencies by mid-2025, promoting that these types of digital assets are 100% green by this date.
Conclusion
Any investment must involve only the capital that the investor is willing to lose. However, the shift towards environmental protection favors green cryptocurrencies as we move into 2024.
Without a doubt, cryptocurrencies are occupying more spaces every day to position themselves and be used by as many people and entities as possible.
At first, its value may be low and even considered ridiculous, but with the passage of time and the impetus for environmental protection, its value will skyrocket to unimaginable values.
Read Also: Cryptocurrencies and the Future of Finance: Bitcoin
