Should Blockchain be given the bog chain?

[rainbow]

It must be noted however, that there are many claims that associate the energy consumption of blockchain/cryptocurrencies to CO2 emissions, which isn’t accurate. In this case, what matters is the type of energy source being used to generate electricity, as they are not homogenous from a carbon footprint perspective. In the case of Bitcoin, for instance, it seeks out otherwise-curtailed energy, like hydropower in Sichuan, which is ultimately green as the energy is not being lost or wasted. Blockchain technology can both indirectly, and directly help the environment.

https://www.nasdaq.com/articles/the-fut ... 2021-06-17

I know that these bright young things have the best intentions, by really?

...also no, hydro isn't the 'ultimately green' energy. Possibly engineering was too difficult for the darlings, but do they really think that you can selectively take green energy from the grid?

[rainbow]

...and another thing:

LONDON (Reuters) - Blockchain is to be used for the first time to try to track cobalt’s journey from artisanal mines in Democratic Republic of Congo through to products used in smartphones and electric cars.

https://www.reuters.com/article/us-mini ... SKBN1FM0Y2

They are really clueless as to the real situation in the DRC. Are they going to give each child miner a cellphone with internet access, so they can blockchain their $2 bag of heterogenite?

FFS

The plan for the Congo pilot scheme is to give each sealed bag of cobalt produced by a vetted artisanal miner a digital tag which is entered on blockchain using a mobile phone, along with details of the weight, date, time and perhaps a photo.

[rainbow]

Nobody out there to defend BlockChain?

[pErvinalia]

Well they can have application. And Bitcion's proof of work methodolgy isn't the only way to validate blocks. Others don't use much power.

[Brian Peacock]

Central banks are looking into crypto models. The tax-dodgers don't like it.

[Hermit]

Central banks are looking into crypto models. The tax-dodgers don't like it.

China has been working on an official, government controlled blockchain currency since 2014, and is in the process of banning the use of all other crypto-currencies. Eventually it will get rid of all its conventional money.

The "beauty" of government controlled blockchain currencies is that it gives governments total surveillance of what people buy and sell. Not even George Orwell thought of that.

[Brian Peacock]

The Bank provides physical money in the form of banknotes, which can be used by households and businesses to make payments. We also provide electronic money, but this can only be used by banks and selected financial institutions. A Central Bank Digital Currency would make electronic money, issued by the Bank of England, available to all households and businesses. This would allow everyone to make electronic payments in central bank money...

https://www.bankofengland.co.uk/researc ... currencies

[rainbow]

Yebbut I'm more interested in how Blockchain is supposed to tell whether cobalt has been produced by child labour?