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Covid-19 Aid vs Climate Change: Maiden Indian Crypto Relief Fund s Conundrum News18 4 hours ago © Provided by News18 Covid-19 Aid vs Climate Change: Maiden Indian Crypto Relief Fund s Conundrum India’s effort to combat the second wave of Covid-19 using cryptocurrencies seems to be at a crossroads. The setting up of the country’s first crypto relief fund has triggered a new debate over climate change. Experts have pointed out that as cryptocurrencies become increasingly mainstream, their backend financial infrastructure will start having a noticeable impact on carbon footprint. Bitcoin mining, for example, leaves an annual carbon footprint almost equivalent to that of Mumbai. The Indian Express quoted a study by Alex de Vries, a Dutch economist, which shows that Bitcoins leave behind a carbon footprint of 38.10 Mt a year. Mumbai’s yearly carbon footprint stands at 32 Mt.

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