World Economic Forum: Doubt and Uncertainty Surround the Consequences of Cryptocurrency Mining

The need for a clear and balanced concept of the issue was a consistent topic in a panel discussion on cryptocurrency's carbon footprint at the World Economic Forum 2022 Davos, where there was general agreement that There has been a rush to judge the consensus mechanisms of cryptocurrency mining and education, and precise policy formulation can counter it.

FTX US President Brett Harrison said crypto-tribalism on social media is an obstacle to environmentally sound crypto mining, comparing the situation to politics, explaining that a vociferous minority obscures the majority, while there is a united effort in the background.

Practitioners should tell real stories, said the Cowen Telegraph.

Harrison also asked the practical side of the question. “We can all on this platform agree on the need for regulation, I think,” he said, adding that responsible regulation does not ban technology, but rather solves problems.

DataKind CEO Lauren Woodman spoke of the need to bring everyone to the negotiating table, saying: In some places, coin mining is often seen Encrypted as disrupting the power systems that depend on it, she said, but the primary power client enables infrastructure to be built elsewhere.

Choosing a single winner from among a variety of consensus mechanisms defeats the purpose of the blockchain, which is multiple interoperability, said Denil Dixon, CEO of the Stellar Development Foundation. Multiple chains and assets, adding: There should not be a value judgment on energy consumers, but rather energy efficiency should value them all equally.

Anthony Scaramucci, managing partner at Skybridge Capital, equated decentralization with antifragility, noting that cryptocurrency mining is in the early stages of its development, that is, in Too early to pick a winner.

According to Robert Wardrop, Professor of Management Practice for Finance at the University of Cambridge and Director of the Cambridge Center for Alternative Finance, education should go hand in hand with regulation, explaining: Trust in technology means Trust its management.