People often associate the Blockchain with the term climate sinners. This is probably due to the huge energy hunger of Bitcoin mini-computers. They convert electricity into heat with each computing unit. According to analyses by the University of Cambridge, the Bitcoin network consumes more energy than all households in Switzerland combined. Since the mining computers work with the so-called “proof-of-work” algorithm, this results in high power consumption.

The blockchain technology could make a significant contribution to sustainability if used correctly. For example, energy certificates could be stored on the block chain. Thanks to the transparency, environmentally conscious consumers can see whether their electricity really comes from renewable sources such as wind or solar power plants. This could raise awareness of renewable energies among energy producers and residents.