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Cash, card or cryptocurrency? Which is better for the planet?
Cash, card or cryptocurrency? Which is better for the planet?
Photo by Emil Kalibrado on Unsplash.
These days we re more aware than ever that a carbon footprint is attached to pretty much everything we do. From the food we eat to the transport we use, everything has an impact on the environment. Even how we choose to pay for products and services can make a difference.
With this in mind, we did some digging to help better understand the impacts of different payment methods.
Cash is still king
Despite all the news pieces and statistics on increased digital payments, cash still remains the most widely used payment method in the world. According to the G4S 2018 World Cash Report, of 24 countries surveyed, 18 used cash for more than 50% of transactions. The question is how sustainable are notes and coins?
March 3, 2021
Influentials like Elon Musk and star stock picker Cathy Woods have helped send bitcoin’s price soaring in recent weeks.
But investors weighing the popular cryptocurrency need to consider the ethics surrounding it as well since a significant portion of it is “mined” in China’s Xinjiang, where Beijing is accused of conducting mass human rights abuses.
In cryptocurrency mining, people use enormous power-hungry computers to solve algorithmic puzzles and in return get rewarded with new bitcoin. That makes cheap energy integral to bitcoin. As of April last year, around 65% of bitcoin mining capacity, or hashrate, was based in China due to its cheap electricity.
Code Chain New Continent Limited (the "Company" or "Code Chain") (NASDAQ: CCNC), a leading eco-technology company, announced today the execution of a Letter of Intent ("LOI") to acquire 61% of Xiaojin Langlang Technology Co., Ltd. ("Xiaojin Langlang"). Founded in March 2020, Xiaojin Langlang is a leading cryptocurrency mining center in China. They engage in internet information management, big data resource services, server hosting, mechanical equipment leasing, computer and communication equipment operation, value-added telecommunications services, software and information technology, information System operation and maintenance, and socio-economic consulting, excluding investment and financing consulting services.