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The blockchain term appeared online in 2008 and has created impact on public institutions, private companies, startups, etc. It is a way to record information and its main application since inception has been as a new means of exchange between two parties. Blockchain is a highly secured and decentralized accounting system that allows direct exchang...
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... December 2017 we witnessed the explosion of the cryptocurrencies; some experts compared it to the .com mania that caused market instability in the years 2000s 15 . Two months later, people declared that the cryptocurrency era was over as, intuitively, blockchain was following the Gartner hype curve 16 (Fig. 3). But for other people, this was the end of the cryptocurrency bubble and the beginning of the blockchain era. In 2018, ten years later its inception, blockchain is well positioned as a technological important topic 9 with high hope and expectations for this relatively new concept and its potential impact on global issues such as income ...
Context 2
... December 2017 we witnessed the explosion of the cryptocurrencies; some experts compared it to the .com mania that caused market instability in the years 2000s 15 . Two months later, people declared that the cryptocurrency era was over as, intuitively, blockchain was following the Gartner hype curve 16 (Fig. 3). But for other people, this was the end of the cryptocurrency bubble and the beginning of the blockchain era. In 2018, ten years later its inception, blockchain is well positioned as a technological important topic 9 with high hope and expectations for this relatively new concept and its potential impact on global issues such as income ...
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... This technology introduces a new operating framework for enterprises and institutions. According to Palacio (2018), it can serve as a viable tool for tackling worldwide difficulties and facilitating the realization of the United Nations' sustainable development goals (SDGs) across all countries. ...
This paper explores the transformative potential of blockchain technology (BT) as a catalyst for sustainable development, addressing the tri-fold aspects of environmental, economic, and social sustainability. Through a comprehensive review and theoretical framework, it delves into how BT can significantly contribute to achieving the United Nations Sustainable Development Goals (SDGs). The study highlights BT's role in enhancing transparency, ensuring product traceability, and promoting resource efficiency, thereby facilitating a more equitable economic growth and environmental stewardship. By examining various applications of BT across industries including supply chain management, renewable energy, and conservation efforts, the paper illustrates BT's capability to reduce carbon emissions, improve resource allocation, and support sustainable business practices. Furthermore, it identifies challenges such as scalability, energy consumption, and regulatory hurdles, proposing strategic recommendations for overcoming these obstacles. The research emphasizes the need for collaborative efforts among stakeholders, including policymakers, practitioners, and researchers, to leverage BT effectively for sustainable development. It contributes to both theoretical understanding and practical implementation of blockchain as a powerful enabler for sustainability, offering insights for future research and policy-making in this evolving domain. Received: 1 December 2023 / Accepted: 19 February 2024 / Published: 5 March 2024
... In 2019 году according to the data, provided in [10] the general consumption on bitcoins was equal to -5310 6 MWth. The data, provided by M. Straube, the German mathematician [11] the annual world's energy consumption is at least 1410 6 MWth. According to the words of the scientists, working at Lawrence Laboratory in Berkley it was supposed that by the year of 2020 energy efficiency of the branch could grow by 45%. ...
The work is devoted to the problems of efficiency of bitcoins, especially power inputs due to generating of this cryptocurrency. Nowadays the problems of mining power input efficiency seem to have passed from a comparative problem to the problem of existence of this blockchain technology, requiring a different engineering policy or different managerial decisions. The comparative analysis of bitcoins generating power input and the world’s power input has shown that there are almost no trustworthy methods of evaluating input power for blockchain technologies. This problem is solved by application of contemporary methods by setting up big mining companies, located in areas with cheap electric energy and free power balance, possessing their own technological resources and thinking of creating alternative power capacities for mining objectives. At that the state systems start to introduce various limitations for power capacities used for cryptocurrencies including quotas and price privileges. Represented are the results of the analyses of the dynamics of alternation of the main parameters, influencing power consumption at generation of bitcoins on the basis of available literary data and own investigation. Given are the results of calculations regarding bitcoins generation, the costs of consumed electric power per mining of one bitcoin. A more objective index of bitcoin power consumption is suggested, it being correlated with its unit and the unit of heshrate eh showing that Nbtc·LgH duplex is constantly growing despite a decrease in general mass of generated bitcoins, while the relative bitcoin energy consumption decreases with time, still such decrease happens slower than the growth of its market value.
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