{"id":8954,"date":"2023-05-16T22:00:36","date_gmt":"2023-05-16T22:00:36","guid":{"rendered":"https:\/\/ncjolt.org\/?p=8954"},"modified":"2023-05-16T22:00:36","modified_gmt":"2023-05-16T22:00:36","slug":"fortune-favors-the-bold-unless-youre-in-rural-america-legislating-the-environmental-effects-of-cryptocurrency","status":"publish","type":"post","link":"https:\/\/journals.law.unc.edu\/ncjolt\/articles\/volume-24\/volume-24-issue-3\/fortune-favors-the-bold-unless-youre-in-rural-america-legislating-the-environmental-effects-of-cryptocurrency\/","title":{"rendered":"FORTUNE FAVORS THE BOLD-UNLESS YOU&#8217;RE IN RURAL AMERICA: LEGISLATING THE ENVIRONMENTAL EFFECTS OF CRYPTOCURRENCY"},"content":{"rendered":"<a href=\"https:\/\/journals.law.unc.edu\/ncjolt\/wp-content\/uploads\/sites\/4\/2023\/05\/Picchio-Final.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\" data-mobile-width=\"500\"  data-scrollbar=\"none\" data-download=\"off\" data-tracking=\"on\" data-newwindow=\"on\" data-pagetextbox=\"off\" data-scrolltotop=\"off\" data-startzoom=\"100\" data-startfpzoom=\"100\" data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">Picchio-Final<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n\n\n\n<p><em>Cryptocurrency aims to democratize financial transactions. Through a digitized blockchain, cryptocurrency miners can &#8220;mine&#8221; currency with the rapid use of equations, which adds the cryptocurrency to the blockchain and financially rewards the miners. Proof-of-work mining, used for Bitcoin, the most prevalent cryptocurrency, consumes massive amounts of energy, and the total energy output of the cryptocurrency industry utilizes as much energy as a small nation. Such an energy-hungry process can have detrimental environmental and health effects. This Article offers solutions which can be placed into five distinct categories: prescriptive legislation, property rights, payments, penalties, and persuasion. While each approach offers both benefits and drawbacks, the solutions present a way forward that both solves the challenges surrounding cryptocurrency and protects North Carolina&#8217;s emerging industry. <\/em><\/p>\n\n\n\n<p><strong>Author: Chloe Picchio<\/strong><\/p>\n\n\n\n<p><strong>PDF: <\/strong>http:\/\/journals.law.unc.edu\\\/ncjolt\/wp-content\/uploads\/sites\/4\/2023\/05\/Picchio-Final.pdf<\/p>\n\n\n\n<p><strong>Volume 24, Issue 3<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency aims to democratize financial transactions. Through a digitized blockchain, cryptocurrency miners can &#8220;mine&#8221; currency with the rapid use of equations, which adds the cryptocurrency to the blockchain and financially rewards the miners. Proof-of-work mining, used for Bitcoin, the most prevalent cryptocurrency, consumes massive amounts of energy, and the total energy output of the cryptocurrency <a href=\"https:\/\/journals.law.unc.edu\/ncjolt\/articles\/volume-24\/volume-24-issue-3\/fortune-favors-the-bold-unless-youre-in-rural-america-legislating-the-environmental-effects-of-cryptocurrency\/\" class=\"more-link\">&#8230;<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[498],"tags":[],"_links":{"self":[{"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/posts\/8954"}],"collection":[{"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/comments?post=8954"}],"version-history":[{"count":2,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/posts\/8954\/revisions"}],"predecessor-version":[{"id":8975,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/posts\/8954\/revisions\/8975"}],"wp:attachment":[{"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/media?parent=8954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/categories?post=8954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/tags?post=8954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}