The “World Clock” project within the World Wildlife Fund is an action aimed at stopping all electricity consumption for one hour to draw attention to energy consumption once a year. Similar to local news agency Rambler, this year the Russian crypto money miners will celebrate the “Crypto Clock” practice.
The Russian miners who want to remind the digital world of the need for more environmentally friendly Blockchain technologies will stop mining operations between 20:30 and 21:30 (local time) on 24 March.
The implementation of the CryptoTime is governed by Peter Dvoryankin, founder of CryptoLife, an international investor network, and a member of the Financial Technology Development Council of the Russian Duma Assembly. According to Rambler, Dvoroyankin stated that the campaign aim is to extract ecological mining maps of regions with climate structure suitable for mining activity and suitable for renewable energy production.
Dvorankin’s mining activity was the result of the emergence of heat in other sectors and the development of more environmentally friendly Blockchain technology called for. Rambler added that Bitcoin’s mining network uses more than 50 terawatt hours of electricity per year and that consumption continues at this level, Bitcoin added that by 2020 the mining industry will consume the same amount of energy as the rest of the world by 2020. More than 50 people are expected to participate in the crypto clock implementation.
A Czech-based Blockchain company that uses heat energy generated during mining to heat greenhouses has offered a smart solution. However, one of Europe’s largest energy companies refused to sell electricity to the crypto-mining company Envion in February, preventing eco-friendly crypto-mining in Europe.