According to the report published by the International Monetary Fund (IMF), Bitcoin consumes a million times more energy than credit cards. The report by
Xavier Lavayssièr, Germán Villegas Bauer and Itai Agur shows that CBDCs and some private cryptocurrencies are more efficient than traditional payment systems.
Most of today’s fiat money transactions are made with the help of credit and debit cards.
The IMF’s report emphasizes that the proof-of-work consensus must be abandoned in order to take a “green” step.
The second largest cryptocurrency, Ethereum, is expected to switch from proof-of-work to proof-of-work this year. This will reduce energy consumption by 99.95%.
IMF researchers emphasize that the use of force should also be considered as an important factor when discussing the future of money.
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