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KPMG, one of the biggest professional services companies in the world, recently released a report that analyzed Bitcoin’s performance across the environment, social, and governance metrics (commonly known as ESG metrics). According to the report, Bitcoin’s carbon emissions are much lower than those associated with other sources such as tobacco or tourism. The report also pointed out that, depending on where it is being mined, Bitcoin can have tangible positive impacts regarding the utilization of renewable energies, such as those produced from methane. As far as energy usage when compared to other industry equipments, Bitcoin activity is equal to that of clothes dryers. Moving beyond energy usage and emissions parameters, KPMG made the point that Bitcoin’s rules are asset-specific, making it harder to be tampered with even by centralized parties, resulting in a robust framework of governance. Ultimately, as the report indicates, transactions on the Bitcoin network perpetrated with ill intentions account for just 0.24% of transactions, making far less of a contribution to money laundering when compared to other currency and tokens, such as Ether (ETH), stablecoins, and alternative coins. Made of 12 concise pages and full to the brim with secondary sources, this report shines light on the power of Bitcoin and digs further than statistics, specifying the potential that different facets of Bitcoin have for promising positive use cases. Being privy to the ever-mounting education on Bitcoin, recognizing it as a currency and seeing the good governance is invaluable in building trust and reversing current misunderstandings towards Bitcoin.
