'We need energy for more useful things than bitcoin,' Minister Farmanbar argued.
manufacturing steel using renewable electricity and hydrogen instead of coal, considered another notable step in making the process greener.
On the contrary, bitcoin is still widely-criticized for its electricity consumption and thus harming the environment. According to someADVERTISEMENT In conclusion, Farmanbar claimed that deploying electricity to vital industries is even more important nowadays, considering the financial turbulence and the energy crisis that crippled the world:
“There will be bottlenecks, and that means you have to look into whether we are using energy in the best possible ways. Bitcoin mining is what we should be using power for when we can use it for making fossil-free steel, for example? It is not entirely trivial in a free market.
“When something gets big enough, things like consumer interests and money laundering come into play. So, there is a good reason to believe that regulation will happen.”its first study of a CBDC. However, the authorities said launching an e-krona will be more complicated than initially thought and that the financial product will see the light of day as early as 2026.
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