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The Energy System Benefits From Bitcoin Mining

Illiteracy is a peril of the commerce for anybody working within the know-how sector. New applied sciences have a tendency to be met with resistance till they’re broadly understood, and sadly, policymakers and regulators are regularly responsible of essentially the most egregious tech illiteracy — stopping innovation in its tracks whereas they play catch-up.

Every month there’s one other facepalm-inducing second. In January, it was the flip of Erik Thedéen, the vice-chair of the European Securities and Markets Authority, who used an interview with The Financial Times to name for an EU ban on all proof-of-work mining (the strategy by which new bitcoin is issued).

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