{"id":43353,"date":"2021-05-28T11:45:41","date_gmt":"2021-05-28T08:45:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43353"},"modified":"2025-08-31T03:15:45","modified_gmt":"2025-08-31T00:15:45","slug":"bank-of-canada-says-its-cbdc-would-be-greener-than-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-canada-says-its-cbdc-would-be-greener-than-bitcoin\/","title":{"rendered":"Bank of Canada says its CBDC would be greener than Bitcoin"},"content":{"rendered":"

The Bank of Canada’s planned national digital currency (CBDC) will not rely on \u201cwasteful mining methods\u201d inherent to cryptocurrencies. Deputy Governor Tim Lane said this, according to Penticton Western News<\/a>.<\/p>\n

The official noted that the launch of the digital Canadian dollar is not expected in the near term.<\/p>\n

According to Lane, in the CBDC Canadians, as before, will trust the country’s central bank, and not Proof-of-Work<\/a>, on which Bitcoin and Ethereum operate.<\/p>\n

A regulator’s representative rejected the view that, going forward, Bitcoin mining would rely more on renewable energy sources.<\/p>\n

\n

You can replace \u201cdirty\u201d energy with \u201cclean\u201d energy. But if you use that extra gigawatt for mining Bitcoin, that\u2019s one gigawatt less than could be directed toward some \u201cuseful purpose\u201d<\/em>, Lane explained.<\/p>\n<\/blockquote>\n

Earlier, experts named<\/a> the first cryptocurrency more environmentally friendly than the petrodollar.<\/p>\n

Earlier, Galaxy Digital analysts estimated<\/a> that annual electricity costs for Bitcoin miners are lower than those used in gold production and in the banking sector.<\/p>\n

Subscribe to ForkLog news on Twitter<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of Canada’s planned national digital currency (CBDC) will not rely on \u201cwasteful mining methods\u201d inherent to cryptocurrencies. Deputy Governor Tim Lane said this, according to Penticton Western News.<\/p>\n","protected":false},"author":1,"featured_media":43354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1951,18,771,1137,1259,76],"class_list":["post-43353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-canada","tag-bitcoin","tag-canada","tag-cryptocurrency-mining","tag-ecology","tag-proof-of-work"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=43353"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43353\/revisions"}],"predecessor-version":[{"id":43355,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/43353\/revisions\/43355"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/43354"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=43353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=43353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=43353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}