Experts debate regulatory support for energy-hungry technology
Blockchain requires a vast amount of power
Central banks and regulators face a new challenge when it comes to fostering technological innovation – climate change.
According to experts speaking at Central Banking’s Fintech and Regtech summit in London today (March 13), there is a growing debate about whether these organisations should support new technologies that use blockchain.
Speaking under the Chatham House rule, participants said there could be serious drawbacks to blockchain given the vast amount of energy needed to power it.
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