Carbon-Neutralize the Approach
This is the idea that the high energy use of decentralized web technologies is okay as long as you make sure the energy comes from renewable resources. In practice, this looks like the Renewable Energy Buyers Alliance, the Crypto Climate Accord, or the Energy Web Foundation: leveraging the collective power of energy users to create a demand for low-carbon energy that triggers a transition of the grid to renewable infrastructure. You’ll often see the phrase “net zero” — we’ll emit carbon, but then try to balance it out.
, but as an answer to high energy use, it falls short. In grid-level discussions of renewable energy adoption, we see a lot of celebration that renewables are a growing percentage of our energy source. For example, U.S. states set “renewable portfolio standards” (RPS) defining a percent-renewable energy source for their grid infrastructure, and it’s fairly common for states to exceed their targets. California, for example, had a goal of 33% renewables by 2020 which they had already exceeded by 2018.
What often gets passed over however, is that year over year, energy phone number list demand grows so much that this typically means a growth across all sectors of energy generation, from solar to coal. What we’re celebrating, then, is not a displacement of coal/actual reduction in carbon emissions, but that new demand is being covered by proportionally more renewable sources than we’re used to.
Growth in global energy demand, from BP’s Statistical Review of World Energy showing a general trend of growth across all sectors, including coal — even as renewables grow disproportionately.
And of course, even renewable infrastructure has an ecological cost (e.g. materials extraction) — so though decarbonization of our energy infrastructure is an important objective, any proposed solution that doesn’t attempt to decrease energy demand is underwhelming.
Try Something with Less Energy
As mentioned above, cryptocurrencies traditionally rely on energy-intensive proof-of-work as a mechanism for stability. Like the gold standard, the currency works because it is difficult to obtain, and increasingly so over time. Also like the gold standard, it’s something we may have the choice to move on from, hopefully in ways that serve our values.
The most famous foray into this change is proof-of-stake. Proof-of-work relies upon calculations that increase in complexity as the blockchain grows, requiring miners to purchase hardware and electricity as a cost of mining. Proof-of-stake is a more direct form of reinvestment; it ties up a miner’s existing coins as stake against the transaction.