Consultant @Emergenceconsul & @CultivateInnov 
PhD energy innovation @SPRU 
Into decarbonisation, regeneration & climate/crypto @Drholwat 
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When my colleagues in the energy+ sustainability space talk about #blockchain, it's mostly in relation to Bitcoin's high CO2 emissions+ not the opportunities presented by these technologies to transform the energy system 
I've been learning more about this recently.. A
1/16pic.twitter.com/L4htty8YeJ
Bitcoin is carbon intensive as it uses 'proof of work' to add blocks to its blockchain; computers work in competition to solve a mathematical puzzle- also known as mining 
As more blocks are added, the puzzles become harder and so require more and more power to solve 
2/16
It's this mining activity that enables Bitcoin (which isn't backed by any central bank/government/military) to be considered a trustworthy asset- it is too expensive to hack or defraud the blockchain network on which it's based
3/16
Whilst some projects seek to use #renewable/ curtailed energy to power mining activities (ie. @SolunaPower are in the process of building a 37k acre wind farm in Morocco to achieve this
) they are not substantial enough to address Bitcoin's growing carbon footprint 4/16
'Proof of stake' however, presents an alternative that 'forges' instead of mining blocks, using very little energy #Ethereum, the 2nd largest blockchain, is moving to this approach.
Bitcoin won't be able to switch as all users would have to agree to this transition 5/16
This article ft. Susanne Köhler @aautech+ @stephenreid321 explains all this and more way better than I can! 
6/16https://news.globallandscapesforum.org/50823/can-cryptocurrency-be-climate-conscious/ …
Whilst Bitcoin will face ongoing sustainability issues, there are SO MANY other projects and blockchain applications that use less energy+ have the potential to decentralise and democratise the energy system itself 
Here's a few examples of proven projects... 7/16
.@LO3energy are working with utilities in the US to facilitate local energy markets. They've developed a trading platform call Pando that creates peer-to-peer connections so people can buy or sell domestically generated electricity 
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.@Sun_contract lets domestic electricity producers "share energy with loved ones or sell it directly to strangers" on their blockchain based market place. 5 years into operation they have lowered energy costs for local customers by up to 40% 
9/16pic.twitter.com/1pIn8b43nk
.@EfforceOfficial, co-founded by Steve Wozniak, "is the first platform that allows users to benefit from the energy savings generated by #energyefficiency projects worldwide", using a blockchain backed market place 
10/16pic.twitter.com/QTgj5HLlUC
More information about the different applications of blockchain in the energy system+ the challenges faced here 11/16https://www.disruptordaily.com/ultimate-guide-to-blockchain-in-energy/ …
Beyond energy, there are orgs using blockchain to develop a sustainable, regenerative financial system 
@joinseeds is a democratically governed coop comprised of SEEDS users, that funds regen projects through grants+ interest-free loans 12/16https://seedslibrary.com/
Other projects:
@CeloOrg is targeted at developing-world users, operable from a basic smartphone
@CirclesUBI seeks to provide a universal basic income
@regen_network verifies regen land management projects for carbon credits
More here 13/16https://news.globallandscapesforum.org/50857/can-cryptocurrencies-help-the-planet/ …
..and even more 14/16https://www.humanprogress.org/how-blockchain-technology-can-help-improve-the-planet/ …
To conclude:
Energy use by #Bitcoin
is not synonymous with other blockchain technologies
These technologies can unlock decentralised+ aggregated low carbon energy markets
They also present opportunities to create a new, sustainable+regenerative financial system
15/16
I've started a Twitter list of orgs in the energy blockchain space you can follow: https://twitter.com/i/lists/1375004179824054272?s=20 …
And I'd recommend @stephenreid321's Decentralised Finance course if you want to learn more: https://dandelion.earth/events/6030d61305f41500177900f4 …
Thanks+ please share this thread if useful! 
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