The push and willingness to preserve this planet increase every day. Studies have indicated that nearly seven in every ten millennials are willing to pay more for products and services which are environmentally friendly and socially responsible. The main concern is to minimise our contribution to climate change and its effects. The primary way of achieving this is by reducing the emission of “Greenhouse gases”, in particular carbon dioxide, into the atmosphere. It is to this end that Bitcoin and other altcoins have been plunged into the spotlight since the means by which they are mined is highly energy-intensive.
Every financial transaction leaves a carbon footprint, whether overt or not. The Paris Climate change agreement requires countries to control their emissions. As a result, businesses and investors have to prove that their business model is helping in delivering a stable climate. Carbon taxes are one of the ways of funding the fight against climate change. The higher the carbon emission of an organisation’s production process, the more it is bound to pay in carbon tax or permits. This is where the choice of cryptocurrency investment becomes essential.
A recent by Stanford and University of Stockholm researchers showed that the energy consumed for 100 million Bitcoin transactions would be sufficient to power 75 million light bulbs. Ripple XRP ledger proved to be the most energy efficient, using energy enough for only seven light bulbs. It is even more eco-friendly than the visa network, which would consume enough electricity to power 3,716 light bulbs for the same number of transactions.
It shows that XRP is the best currency option for those who are serious about preserving this planet we call home. It makes business sense for investors in countries where carbon pricing is already in place, as well as when such pricing comes into effect in others. Ripple XRP is bound to be more profitable when carbon marketing becomes a global affair and Bitcoin together with other energy guzzlers have to pave the way for sustainable digital assets.