Global warming is the huge crisis that our planet is experiencing and needs emergency steps to cut emissions until 2030. Unfortunately, the global public is unable to keep up with the speed of escalated climate change. There are still discussions and debates going on about how to reduce fossil fuel use, enhance the energy efficiency, and use renewable fuel alternatives. The entire world is responsible for contribution to this problem, but currently, it is the climate-vulnerable countries that are suffering from devastating consequences – for example, Nunavut in Canada, Artic residents, and more.
How can cryptocurrency help in global economy sustainability?
Cryptocurrency is not the magic bullet but has the potential to decarbonize erratic power grids and improve the economy for the entire global community and not only a few privileged ones. It can navigate countries to fulfill their climate goals. However, a current debate about energy consumption while mining crypto is a hot topic but lacks any research.
Renewable energies like wind and solar energy supply encounter a deficiency that what they generate is either non-existent or overabundant. The overabundance from wind or solar-generated energy supply, which goes waste, can be put into productive use with crypto mining.
So, it is critical to incentivizing wind and solar power adaptation and retire fossil fuel use quickly. It is helpful because 66% of the prime energy used for creating electricity gets lost by the time it reaches consumers. If the crypto community collectively works with this mentality, its global effect will be experienced and it can become a leader in climate-positive utility and sustainability capable to help in getting a clean energy economy.
How cryptocurrency can help in the global economy’s future growth?
Cryptocurrency is highly volatile. So, many people are not interested in trading with crypto. There is a variety of cryptocurrencies available including coins, tokens, stablecoins, etc. After BTC and ETH, Tether is the third largest cryptocurrency. USDT is the first stablecoin tied to the US dollar, to handle the market value. Visit Zengo X to get your USDT wallet. You need a specific wallet to buy, send, store, trade, and earn interest on your stablecoin.
Cryptocurrencies are highly utilitarian, but have slowly and steadily disturbed the way the regular financial system works.
Low transaction cost
Blockchain technology does not need overhead costs, so the transaction cost is minimal. Low transaction fees are appealing to individuals and businesses. It allows for the global economy to closely intertwine.
Increased transaction transparency
Cryptocurrency transactions occur on the internet and can be tracked in a public distributed ledger. No one can manipulate it, so the concerns about corruption or fraud are off the table. Underdeveloped countries can enter into financial transactions and enhance their social prospects and economy. Citizens can keep track of state funds usage and get to know the political environment of their country.
The world is quickly changing, so it is time to adopt cryptocurrency. Choose stablecoin if you are concerned about cryptocurrencies’ high volatility. Get your USDC wallet from Zengo now!