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Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title Developing a Novel Approach to Calculating the Crypto Asset Carbon Footprint
Organization Unit
  • Thomas Puschmann
  • Valentyn Khmarskyi
  • English
Institution University of Zurich
Series Name Swiss FinTech Innovation Lab
Number 5
Date 2022
Abstract Text The calculation of carbon emissions for crypto assets has been explored in various academic and practitioner approaches. However, the analysis of these approaches in this paper reveals that the assumptions and data which are being used are very heterogeneous and thus the results differ enormously. This paper uses an integrated approach that combines a transaction-oriented view, which calculates carbon emissions on single crypto asset transactions and a network-oriented view, which focuses on carbon emissions from a macro level perspective, by introducing a life cycle model which includes crypto asset transactions, holding of crypto assets and other relevant processes. Surprisingly, the results of the analysis show that the network-oriented view shows lower carbon emissions than the transaction-oriented view. Potential reasons for this can be the combination of different data sources from different approaches with different assumptions, fuzzy data, or other reasons. Because of this result, the paper suggests a more comprehensive approach in the form of a meta model based on a life cycle model which includes all relevant aspects.
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