Oceans and Crypto

  • Dec. 28, 2022

As the world becomes increasingly reliant on technology, the use of cryptocurrency has risen in popularity. But while the digital currency offers convenience and security, its production and use can also have negative impacts on the environment. One area in particular that has been affected is the ocean, which is vital to the health and well-being of our planet.

The mining of cryptocurrency requires a large amount of energy, and much of this energy is generated through the burning of fossil fuels. This process releases greenhouse gases into the atmosphere, contributing to climate change and the warming of the ocean. The warmer water causes coral bleaching, which can lead to the death of coral reefs and the loss of habitat for countless marine species.

In addition to the environmental impacts of cryptocurrency mining, there are also concerns about the impact of e-waste on the ocean. As people upgrade their computers and other devices, the old ones are often disposed of and end up in landfills. However, not all of this e-waste is properly disposed of, and some ends up in the ocean where it can have detrimental effects on marine life.

Finally digital waste - the unused files and folders on your laptop and in the cloud which take energy to store and retrieve also contributes to climate change. Unnecessary emails, files, apps, duplicates of photos and videos are all digital waste. This digital trash creates digital pollution that continues to consume energy even when we have forgotten it. Digital waste stored in backups on servers that provide us with cloud service continue to consume electricity. Each year the internet and its supporting systems produce 900 million tons of CO2. See Digital Cleanup Day for more information.

So what can be done to mitigate these negative impacts and promote ocean conservation? One solution is to use renewable energy sources for cryptocurrency mining. This can reduce the amount of greenhouse gases released into the atmosphere and help to protect the ocean. Better still is to build cryptocurrencies on lighter chains such as BSC who use negligible amounts of energy for their transactions.

The Beach Collective has taken the latter route, albeit with an additional reduction: because Beach Pay, Beach Action, Beach Shop (launching in Q1 next year) can all be accessed and used without owning a crypto wallet and transactions happen “off-chain”, the emissions of a $BEACH transaction are even lower than a standard BSC transaction. And that’s without taking into account the mangrove restoration and beach cleans which we fund every time someone makes a transaction.

In addition, properly disposing of e-waste and supporting initiatives that recycle and repurpose electronic devices can help to reduce the amount of waste that ends up in the ocean. The same goes for your digital waste - be diligent about deleting unnecessary videos, photos and files stored in the cloud, particularly larger ones.

Overall, it is important to recognize the potential impacts of cryptocurrency on the environment and work towards solutions that promote sustainability and ocean conservation. By taking steps to reduce our impact on the ocean, we can help to protect this vital resource for future generations.

 

 

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