The Environmental Cost of Crypto
Short Wave
NPR
4.7 • 6.5K Ratings
🗓️ 26 April 2022
⏱️ 8 minutes
🧾️ Download transcript
Summary
Short Wave Host Aaron Scott talks to Producer Eva Tesfaye about the many environmental impacts of crypto - beyond its strain on energy - and what various local, state and national governments are doing about it.
Check out Short Wave's previous episode about how cryptocurrency works and why its technology sucks up so much energy here: n.pr/3ETHXVq
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Transcript
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| 0:00.0 | You're listening to shortwave from NPR. |
| 0:04.6 | Aaron Scott, are you ready to talk about crypto some more? |
| 0:08.4 | Born, ready, shortwave producer, Eva Tesfai. |
| 0:11.2 | So yesterday we talked to Planet Money's Alexi Horowitz-Gazzy. |
| 0:15.4 | He explained what cryptocurrencies are, how blockchain technology works, |
| 0:19.6 | and why that technology requires a massive amount of energy. |
| 0:23.6 | And then we looked at one possible way of changing that technology, |
| 0:27.4 | so it requires far less energy. |
| 0:29.2 | And today on the show, we're going to get deeper into the environmental impacts. |
| 0:33.8 | And what various local, state, and national governments are doing about it. |
| 0:38.2 | I'm Eva Tesfai. |
| 0:39.4 | And I'm Aaron Scott, and you're listening to shortwave, the Daily Science podcast from NPR. |
| 0:52.2 | So, Eva, yesterday we talked about one way to reduce the amount of energy |
| 0:56.0 | that blockchain technology uses is to switch from a method that's energy-intensive |
| 1:00.6 | called proof of work to one that uses far less energy called proof of stake. |
| 1:05.6 | But what about just switching to renewable energy to run all the computers? |
| 1:10.2 | They can totally do that. |
| 1:11.6 | For example, there's a lot of crypto miners in Shaland County, Washington. |
| 1:16.4 | They were drawn to the area over the past few years |
| 1:19.2 | because it has cheap hydroelectric energy from the Columbia River basin. |
| 1:23.4 | That sounds great. |
| 1:24.8 | However, I sense a butt coming. |
... |
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