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By Jeremy Deaton
Bitcoin, the much-hyped cryptocurrency, made headlines recently for driving a surge in power use. Around the globe, digital entrepreneurs are 'mining' bitcoins by solving complex math problems, using supercomputers to get the job done. Those supercomputers use a ton of power, which largely comes from coal- and gas-fired power plants spewing gobs of carbon pollution.
But while hackers wreak havoc on the climate, blockchain, the bleeding-edge technology behind bitcoin, could one day help clean up the mess. Climate wonks say blockchain has a role to play in the clean-energy economy, helping homeowners sell electricity, allowing businesses to trade carbon credits, and making it easier for governments to track greenhouse gas emissions.
By Diane Regas
China has announced the launch of a national emissions trading system that will become the world's largest and most consequential environmental program, fulfilling a commitment of President Xi Jinping and setting up China to meet or even exceed its commitment to the Paris climate agreement.
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China unveiled the details on Tuesday of what is soon to be the world's largest carbon market, two years after China's president Xi announced the initiative.
Although the market launch date wasn't revealed, observers saw today's announcement as a noteworthy step. "This is like the pyramids of Giza for climate policy," Nathaniel Keohane, the vice president of international climate at the Environmental Defense Fund, told ClimateWire.