Category: Environment

University of New Mexico Researchers Point Out Financial Value of Damages Caused by Cryptocurrency Mining

Cryptocurrency proponents and advocates promote the benefits of using digital currency, since its lack of physical existence does not require third party involvement such as traditional banks and government regulators. That being the case, digital currency transactions will not be subject to bank charges and related government taxes.

Cryptocurrency exchanges merely work by way of peer-to-peer communication within a community of digital currency players; using encrypted messages recorded in a ledger known as blockchain. A unit of digital currency is produced every time a cryptocurrency miner solves a block of complex computing algorithms, which serves as a validation of every digital exchange.

Since a unit of digital currency is created as a reward for the miner who solves a block of algorithms, miners compete in order to earn the right to produce a unit of digital currency, ahead of the others. .

Yet University of New Mexico (UNM) researchers (UNM) argue that the mining practices present potential damage to human health, as well as add to the worsening effects of climate change.

According to UNM Economics assistant professors Andrew Goodkind and Benjamin Jones, and Economics professor Robert Berrens, there are financial values attached to the air pollution and adverse human health impact brought about by the electricity consumed in mining for cryptocurrency.

Using their expertise and a host of economic valuation techniques, the three economics professors were able to estimate the financial equivalent of the damages caused by cryptocurrency exchanges.

How Cryptocurrency Mining Causes Environmental Harm

Professor Berrens elaborated on a particular issue in the blockchain process of decoding new blocks of encrypted transactions. He pointed out the supply rules that a miner needs to comply with in order to create and earn new units of digital currency. Such rules include the predominant Proof-of Work (POW) scheme employed in solving encryptions linked to digital transactions.

Completing a POW requires a continuously increasing use of computing power and energy to solve complex algorithms under a winner-take-all scheme, which basically, is also a competition to secure new blocks in the cryptocurrency exchange chain.

Their study revealed that in cryptocurrency-mining, independent production of cryptocurrencies use specialized computer hardware that requires intensive use of electricity. Large-scale crypto-mining operations in so called mining camps therefore, use many of those energy-consuming computer hardware. Mining camps are usually established in any geographic locations across the globe, where energy source is cheapest and where Internet connection is the fastest.

In their research paper published in the “Energy Research & Social Science” journal, titled as “Cryptodamages: Monetary Value Estimates of the Air Pollution and Human Health Impacts of Cryptocurrency Mining,” the UNM researchers stated that the rising electricity required by every crypto coin generated, regardless of whether energy used is green or not, can result in inevitable cliffs of adverse net social benefit. Assistant Professor Goodkind said,

“We looked at greenhouse gas emissions of electricity used in mining, and their effect on climate change, as well as the impacts of local air pollution when carried downward, across local communities.”

The Monetary Values of the Cryptodamages as Assessed by the UNM Economics Researchers

The UNM researchers looked into large amounts of electricity produced by burning fossil fuels. The data gathered shows that at one point in 2018, the equivalent cost of damages that resulted in connection with Bitcoin production, matched the monetary value of the cryptocurrency exchange itself.

Increased pollutants such as fine particulate matter, CO2, nitrogen oxides and sulfur dioxide produced by burning fossil fuels to generate electricity, likewise heightened exposure to elements that increased risks of premature death.

The UNM researchers approximated that in 2018, every one dollar worth of Bitcoin created yielded an equivalent cost of $49 in climate and human health damages across the United States. The huge amounts of electricity used by cryptocurrency mining camps showed links to the increased CO2 emissions and worsening air quality that affected families in communities across the country, including those in the state of New Mexico.

In publicizing the related costs of health and adverse climate impacts caused by such mining schemes, the UNM researchers hope that operators of cryptocurrency camps will seek alternative low-energy methods of mining.

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The Fight Against Plastic Straws Is Not Where Our Battle For The Environment Ends

It is expected of the children to take good care of its mother. Perhaps this is the reason why we have always cared for Mother Nature ever since we were little kids. It is us, humans, who live in this world and we owe it to nature whatever we are enjoying right now. Therefore, it is our duty to protect the environment and stop its further degredation.

Unfortunately, as the years go by, human practices became the very reason why the environment is facing a grim future. This is certainly a long way from how we were as children when we were taught how to pick up the trash and dispose them properly.

It seems like all those lessons that we learned in school, from segragating waste materials to recycling, have all been forgotten.

One of the dangerous practices that we have learned and adapted to is the mass production of plastics. There are many things made of plastic that we throw right away after use, and one of those is plastic straw. It is not surprising that billions of plastic straws end up in the trash bin every day, and the sad part is that some of these plastic straws make their way to the ocean, threatening the lives of marine animals.

The Answer To Stop The Increase Of Plastic Straw Waste Is Not As Simple As It Seems

Many people have started to use alternatives to plastic straw in drinking beverage. The solution is to come up with a straw made of some material that can be reused instead of directly thrown away. Thus, metal straw became a popular solution to the ever-growing problem with plastic straws. Granted, this can potentially bring down the number of plastic straws disposed in restaurants as people will no longer have to throw plastic straws after every meal. Instead, they can just bring their reusable metal straws with them and simply wipe them after using.

Unfortunately, supporting or advocating the use of metal straw may not necessarily put an end to all our problems with plastic waste. This is because the ones who are still producing plastic straw must be the one to fix the problem first.

Even though metal straw is there as an alternative to plastic straw, its cost is quite expensive that it is unlikely for someone to buy one at the store for his or her own use.

People can just stick with the usual plastic straw that is very accessible. The same goes with the eco-friendly items that we can use to save the environment, but in reality, purchasing them will cost hefty of bucks.

It is our duty to provide Mother Nature with high level of security so it will remain protected until the next generation arrives to enjoy it. When it comes to security, nothing compares with what Ring vs Ring Pro has to offer.

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Understanding the Global Importance of the Amazon Region

The Amazon region in Brazil and Bolivia is still burning. Raging fires had engulfed most of the Northern part of Mount Roraima and subsequently affecting its borders Acre, Amazonas, Rondonia, Mato Grosso do Sul and Bolivia.

Rondônia with its thick jungle foliage and climate that is warm and humid throughout the year, has long been recognised as one of the most threatened sections of Brazil’s Amazon in terms of depletion and deforestation.

Bolivia, like Brazil has also encouraged clearing of forest areas to support its cattle and farming industry, and has likewise seen flames that had already razed at least 2.4 million hectares of Bolivia’s section of the Amazon. The destruction has burned down 1.15 million protected land, destroyed around 40 million trees and killed about a thousand vertebrate animal species inhabiting the area.

World Leaders are Showing Grave Concern about the Raging Amazon Fire

Why is the Amazon Forest so important that European countries like Norway and Germany, have contributed millions of dollars as subsidies to the Amazon Fund for the region’s protection? However, the two countries halted their contribution, as the raging fire brought to light the fact that Brazil was not putting up a fight against the deforestation of the Amazon.

What is it about the Amazon that the leaders in the G7 informal meeting, representing France, the United Kingdom, Germany, Canada, Italy, Germany, Japan, and the United States, as well as the European Union bloc, raised more than $20 million to aid Brazil in putting out the fires. As a matter of fact, the UK and Canada pledged an additional $12 million and $11 million respectively.

The G7 aid though came with a stern warning against the incumbent Brazilian president to take serious action in protecting the Amazon. In separate pronouncements, President Emmanuel Macron of France and Prime Minister Leo Varadkar of Ireland said they intend to veto an important European Union trade deal entered with Mercosur, if President Bolsonario does not act accordingly for Amazon’s protection. Mercosur is the South American bloc seeking to improve trade relationships with other countries.

The Global Importance of the Amazon Region

The Amazon region and its collection of mountain ranges is important not only to the nine countries in which about 7.4 million square kilometres of tropical forests lie, namely: Bolivia, Brazil, Colombia, Ecuador, French Guiana, Guyana, Peru, Suriname and Venezuela.

Dubbed as the “Lungs of the Earth,” the region is home to one third of the planet’s primary forests. It is also home to the Amazon River, which through its tributaries, globally provides as much as 20 percent of the world’s unfrozen fresh water.

The Amazon region, by way of its dense forests has been storing as much as 100 years worth of the world’s human-produced carbon emissions. That being the case, Amazon has been playing a vital role in slowing down the effects of global warming.

However, the amount of destruction caused by the still ongoing forest fire will adversely affect efforts at minimizing the enormous amount of carbon that goes to the Earth’s atmosphere in order to mitigate climate change.

Recently, scientists warned that the biomass burning caused by the Brazilian and Bolivian Amazon forest fires, is bound to increase environmental problems. Biomass burning produces large quantities of greenhouse gases and aerosol particles that can bring further changes in both regional and global climates.

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How Fashion Disturbs The Environment

When faced with a series of fascinating novelties in the store, we fall in love with many brands like batsheva dresses clothes and it is difficult to keep from wearing them. But before you get into any other sales because of an attractive deal, consider the impact of fast fashion on the environment. 

The World’s Clothing Waste Problem

Do Clothing Destroy Our Environment?

Vivid colors, prints and fabric finishes are a fashion attraction, but most are made of toxic chemicals. Text Dyeing and Dyeing is the second largest clean water source in the world after agriculture. Greenpeace’s recent detoxification campaign plays an important role in testing fashion brands with multiple branded products, identifying the presence of harmful chemicals, and removing harmful chemicals from the supply chain. Take action to remove it. Many of them are toxic and bioaccumulative (meaning that the substance accumulates faster than the body’s excretion or metabolism), and hormones and carcinogens are banned or regulated in many countries.

Polyester is the most used fabric in fashion, but polyester fabrics peel off fine fibers, which increase the plastic content of the ocean when washed in a domestic washing machine. Small creatures, such as plankton, consume microfibrils to grow the food chain, causing humans to consume fish and shellfish.

Most of the cotton grown around the world are genetically engineered to fight cotton, increase yield and reduce the use of pesticides. However, this can lead to other problems, such as the emergence of “superweeds” that are resistant to standard insecticides. In many cases, highly toxic pesticides that are harmful to livestock and humans must be used.

Textile waste is the result of unexpectedly fast fashion, more people buy more clothes, not as persistent as before. The international expansion of fast fashion retailers has exacerbated this problem on a global scale. The wardrobes in developed countries are saturated, so in order to sell more products, retailers must constantly attract shoppers and convince them that existing products are no longer popular. 

Recycled contents are usually best because they reduce the pressure on the original resources and solve the increasing problem of waste management. Patagonia, for example, is the first outdoor brand to produce polyester wool from plastic bottles. In 2017 we decided to streamline our collection of t-shirts. Since spring 2018, we only offer two fabric options: 100% organic cotton or recycled cotton and recycled polyester. Organic cotton also has a negative impact on the environment. 






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