Financial Markets and Funds partner Neil Robson spoke with FinTech Magazine regarding efforts by the crypto industry to be responsive to consumer interest in addressing environmental issues in crypto mining. Citing a 2021 report by Katten, "a single transaction of bitcoin has the same carbon footprint as 680,000 Visa transactions or 51,210 hours of watching YouTube." Neil stated, "The growing focus on preventing climate change has brought intense scrutiny to Bitcoin and other cryptocurrencies' energy usage." It is yet to be seen if crypto staking is the solution to the energy consumption issue, but the appetite for change is growing.
"Solving crypto's sustainability issues with proof-of-stake," FinTech Magazine, July 6, 2023