The environmental impact of blockchain technologies like Bitcoin and non-fungible tokens (NFTs) has come under increased scrutiny in recent years. Now, researchers from Qatar University have analyzed policy tools and interventions aimed at reducing carbon emissions from the blockchain industry and published these in a paper in Energy Research & Social Science.
The Qatar team, led by Jon Truby, link damage caused by blockchain activity to the Paris Agreement goals and human mortality; they report that emissions attributed to Bitcoin in 2021 will be "responsible for around 19,000 future deaths."
The researchers use NFTs as the focus of their study. NFTs are digital assets—like images, memes and music—that are stored and traded on a blockchain, a type of distributed ledger. The volume and value of NFT transactions exploded in recent years, reaching US$ 10.7 billion in Q3 2021,
This growth comes with an associated rise in carbon emissions due to energy-intensive "proof-of-work"...
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