Tron Founder Justin Sun comments on how decentralization can help solve the carbon footprints humanity leaves on the Earth.
According to a CoinTelegraph report, the Tron founder Justin Sun said to donate around 1 million dollars to the global awareness for the climate crisis cause of the activist Greta Thunberg.
And even though the intents of the Tron founder are quite nice, there were some questions, as to how cryptocurrencies can help the planet eliminate problems concerning the climate.
How decentralization can help the environment?
Sun commented to CoinTelegraph and explained that decentralized financial settlements are done on cloud systems, so that documentation is excluded from the process.
Quoting that statement:
“Decentralized settlement and decentralized finance are completely run by computers on cloud computing systems, thus eliminating the need for ledger documentation and management records kept on paper.”
He elaborated on the fact that cloud systems don’t rely on transportation, so that eliminates around 8% of the carbon emissions worldwide.
“These types of records require postal mailing which is done through transportation. The whole Know Your Customer process also requires face-to-face interaction, which sometimes makes it necessary for people to travel. All of this will not be compulsory when decentralized finance is utilized.”
Sun also stated that POS systems are way better than the POW mining for Bitcoin since mining emits more than 22 megatons of carbon emissions every year. This percentage equals the total emissions for big cities like Vienna and Las Vegas.
He also commented:
“Decentralized finance systems are available to everyone in the world! Bank the unbanked. Today, the traditional finance system is limited, expensive and not cost effective. Enormous resources and steps are required just to open an account. Imagine having to serve a heavily populated country and all the wastage that ensues. I truly believe blockchain must be in our future if we want to eliminate wastage and make a difference.”
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