Currency for a Greener Planet
Written by Michelle Selina Today, there are a large number of physical notes and coins in circulation worldwide. Research estimates that there are billions of notes in existence, not counting the vast number of coins. This number continues to grow, and the production of physical currency involves highly resource-intensive processes. Coins are made by mining metals like zinc and copper, while notes are made of paper and plastic, which are related to deforestation and other environmental problems. People nowadays are thinking about solving this environmental problem with digital currency. On the other hand, digital currencies eliminate the need for the physical materials used in coins and banknotes. However, the operation of digital currency technologies depends on electricity, often generated from fossil fuels, contributing to greenhouse gas emissions and other environmental impacts. This article explores the environmental implications of physical and digital currencies, the advanta...