The European Union is preparing to roll out energy efficiency labels for blockchains
News 

The European Union is preparing to roll out energy efficiency labels for blockchains

Nxtgen Virtue , ,

A blockchain energy efficiency label is being developed by the European Union.

These measures are part of a wider plan by the European Commission to control energy consumption in the ICT sector. They include an environmental labeling scheme for data centers, an energy labeling scheme for computers, and measures to make it clearer how much energy telecom services use.

Our energy system must be made more efficient and ready for a higher share of renewable energy sources, said Kadri Simson, energy commissioner. To accomplish this, we need more innovative digital solutions and a grid that is much smarter and more interactive than it is today.”

As part of this program, various public sector-led programs will provide financial support for research into digital technologies in the energy sector.

The program will support digital technologies research in the energy sector through a variety of public sector-led initiatives

At least compared to regions such as China which have issued outright bans, the European Union is believed to have taken a fairly permissive stance towards crypto mining.

At least compared to regions such as China that have issued outright bans, the European Union is believed to have taken a fairly permissive stance towards the crypto mining paragraph in the Markets in Crypto Assets (MiCA) bill before it was voted on.

Regulators circle around crypto mining

Crypto mining has been considered pretty permissive in the European Union up to now, at least compared to regions like China that have outright banned it Several U.S. lawmakers, including Massachusetts Senator Elizabeth Warren, wrote a letter to President Trump. According to Senator Pablo Vegas, CEO of the Electric Reliability Council of Texas (ERCOT), crypto mining in Texas raises concerns about climate change, the stability of the energy grid, and subsidies – which are ultimately paid for by consumers.
Use this link to sign up and start trading with 0% trading fees at BitdenexExchange.