Financial revolution of payment methods toward energy efficiency growth: Which one is the most sustainable?

Environmental issues have been a crucial concern in every global sector. One sector that might cause environmental problems is the financial sector. Surrounding issues come from various factors such as the usage of fossil fuels that lead to global warming and climate change which slowly assassinate...

Full description

Saved in:
Bibliographic Details
Published in:AIP conference proceedings 2022-11, Vol.2644 (1)
Main Authors: Santoso, Henrycus Winarto, Tanaya, Olivia, Levina, Priscilla, Astanto, Theresya Jeini, Ajiedragono, Fritz, Lim, Raymond
Format: Article
Language:English
Subjects:
Carbon dioxide
Climate change
Digital currencies
Electricity
Energy efficiency
Environmental impact
Fossil fuels
Plastic cards
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Environmental issues have been a crucial concern in every global sector. One sector that might cause environmental problems is the financial sector. Surrounding issues come from various factors such as the usage of fossil fuels that lead to global warming and climate change which slowly assassinate human beings. This article will focus on efficiency comparison between using paper money, plastic cards and cryptocurrency. The main goal is to prove which of the three financial payments is the most energy-efficient in the past, present, and future. The parameters used in this study are electricity usage and CO2 emissions. The whole analysis is based on a quantitative-descriptive method which provides in depth analysis of electricity usage and CO2 emissions level among financial equates from every generation. Even though plastic cards have the highest efficiency level initially, over time, cryptocurrency is going revolutionary, making them more efficient than paper money and plastic cards. This proves that cryptocurrency could be the most energy-efficient payment method in the future.
ISSN:0094-243X
1551-7616
DOI:10.1063/5.0105979