In search of a low carbon footprint then look no further than Ripple

Following the midweek revelations last week from Elon Musk and the decision by Tesla to terminate Bitcoin acceptance as payment of its vehicles, the subject of Cryptocurrencies and carbon foot prints have shot very quickly to the fore. Quick news already reported last week on the staggering amount of energy now required to mine Bitcoin. To put that further into the context of Kilowatt hours (KWH), according to reports, Bitcoin mining now accounts for over 0.5% of total global electricity consumption. Obviously a fact conveniently forgotten by Musk (on the assumption he already knew) when he first shouted loud about the hoard already held by Tesla and their new plans for payment. Well, it seems that so far very few have been purchased this way, which is no surprise here. Now, according to different reports, various coins have a much lower carbon footprint in terms of energy needed to mine them. In fact, Ripple (XRPUSD) is said to only consume 0.0079 KWH per transaction.  Doge apparently requires 0.12 KWH. To boil a kettle requires around 0.1 KWH. So, there is a ready comparison for you. It will be interesting to see how this new, low carbon, take on Crypto develops as the week unfolds. Notwithstanding that, XRP is lower in Sunday evening trading, dropping back towards $1.43 as Ether and Bitcoin both fall to fresh weekend session lows