Australia’s Royal Melbourne Institute of Technology (RMIT) has successfully launched its Green Cryptocurrency Laboratory. Co-primarily based with the CloudTech Community, a frontrunner in FinTech and blockchain technology, the lab will focal point on reducing the carbon footprint of crypto.
Researching ‘Green Crypto’
The Will also 6 match became hosted by Professor Zahir Tari, who has been named the lab’s director. RMIT is the world’s No 2 leading blockchain college and home of the Blockchain Innovation Hub. The Hub’s partnership with CloudTech aims to salvage solutions to the increasing carbon footprint crypto technology is growing.
It’s seemingly you’ll well also just be unnerved to study that [blockchain technology] consumes extra electricity to relieve the Bitcoin network every 300 and sixty five days than a medium-sized European country admire Finland.
Professor Zahir Tari, joint director, RMIT Green Crypto Lab
The first mission for the lab will most definitely be to create Green Bitcoin, that will most definitely be a blockchain network in step with PoST as the “underlying consensus mechanism”.
RMIT Making Crypto Waves
RMIT’s Blockchain Innovation Hub has been at the forefront of crypto pattern in Australia. In April it submitted a proposal to aid the Melbourne portside precinct increase from the pandemic through the Docklands DAO. And, in October 2021, the college steered the Australian authorities to reform capital features tax on crypto, stating that “reform will provide clarity for taxpayers and self belief in the tax arrangement as a total”.
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