1. BITBILIHome
  2. Article

KPMG report unveils the surprising benefits of Bitcoin’s ESG

• 119 views

TL;DR Breakdown

  • A new KPMG report has revealed the impacts and benefits of Bitcoin’s ESG.
  • Robust governance and the misunderstood realities of Bitcoin.

Description

KPMG, a prominent player in the realm of professional services, has unveiled a comprehensive report delving into the intersection of Bitcoin and ESG (environment, social, and governance) considerations. The report unveils a nuanced perspective, showcasing how Bitcoin’s impact across various ESG facets presents a range of benefits that extend beyond common perceptions. KPMG scrutinizes Bitcoin … Read more

KPMG, a prominent player in the realm of professional services, has unveiled a comprehensive report delving into the intersection of Bitcoin and ESG (environment, social, and governance) considerations. The report unveils a nuanced perspective, showcasing how Bitcoin’s impact across various ESG facets presents a range of benefits that extend beyond common perceptions.

KPMG scrutinizes Bitcoin through an ESG lens

When scrutinizing Bitcoin through an ESG lens, KPMG’s findings underscore its potential advantages within the framework. Notably, the report casts light on Bitcoin’s favorable aspects, particularly in the context of environmental concerns. Contrary to the prevailing notion that energy usage is the primary factor contributing to environmental harm, the report identifies emissions as a more significant indicator. In this context, Bitcoin’s emissions are evaluated in comparison to diverse sources, ranging from tobacco to tourism.

Astonishingly, the analysis positions Bitcoin emissions as the second smallest contributor, trailing only behind “Video (US).” The report challenges prevalent discussions by suggesting that Bitcoin’s emissions might be lower than often debated. In addressing Bitcoin’s environmental impact, the report suggests established strategies for enhancing its carbon footprint. Recommendations include a greater reliance on renewable energy sources and the utilization of energy generated from methane for mining operations. These propositions reflect a proactive stance to mitigate Bitcoin’s environmental implications and align its growth with sustainable practices.

The report offers a fresh perspective on Bitcoin’s role in financial misconduct, specifically money laundering. Contrary to widespread assumptions, the report highlights that Bitcoin’s contribution to money laundering is minuscule when juxtaposed with the total scope of global money laundering activities. According to statistics from the United Nations Office on Drugs and Crime, money laundering constitutes 2-5% of the global gross domestic product. In sharp contrast, Bitcoin transactions associated with money laundering account for a mere 0.24%, as indicated by Elliptic, a blockchain analytics platform. Interestingly, the report emphasizes that laundered money is received in Bitcoin significantly less frequently than in Ethereum, stablecoins, or altcoins.

Robust governance and misunderstood realities of Bitcoin

Furthermore, the report suggests that Anti-Money Laundering (AML) and Know Your Customer (KYC) measures could be effectively applied at the point of off-ramping the coin, despite the absence of AML/KYC requirements during the transaction phase. Amid the discourse on Bitcoin’s governance, the report commends its robustness, underscoring the inherent decentralization that thwarts any attempts at manipulation. Unlike traditional systems susceptible to modifications at the whim of authorities or vested interests, Bitcoin’s rules cannot be altered without resorting to a “forking” process. This design imbues the system with resilience, guarding against misuse and manipulation by entities in power or individuals with ulterior motives.

Despite the informative insights presented in the 12-page report, KPMG acknowledges that Bitcoin remains enshrouded in misunderstanding. The report aims to shed light on the multifaceted nature of Bitcoin’s impact, dispelling misconceptions and offering a more nuanced perspective. As a prominent player in the professional services landscape, KPMG extends its expertise to the realm of crypto-related advisory services. Through this endeavor, KPMG seeks to guide stakeholders in navigating the complexities of the cryptocurrency landscape, facilitating informed decision-making and strategic planning.

KPMG’s comprehensive report unveils a multifaceted analysis of Bitcoin’s interaction with ESG considerations. The report challenges conventional notions, shedding light on Bitcoin’s potential benefits across environmental, social, and governance dimensions. With a commitment to promoting informed discourse and strategic insights, KPMG’s exploration of Bitcoin’s ESG implications contributes to a more nuanced understanding of this evolving digital asset within the broader economic landscape.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:KPMG report unveils the surprising benefits of Bitcoin’s ESG

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月4日 13:38
Next 2023年8月4日 14:50

Related articles

  • Oil is being dethroned in Saudi Arabia by this new shiny thing

    Description Once hailed as the beacon of the world’s oil industry, Saudi Arabia is rapidly pivoting to an unlikely successor to its liquid gold throne – international sports. With deep pockets and a burning ambition, the Saudi leaders have set their sights on the glamour and allure of the world’s most beloved games to revolutionize their … Read more Once hailed as the beacon of the world’s oil industry, Saudi Arabia is rapidly pivoting to an unlikely successor to its liquid gold throne – international sports. With deep pockets and a burning ambition, the Saudi leaders have set their sights on the glamour and allure of the world’s most beloved games to revolutionize their national image and economy. A Soccer Revolution in the Desert Kingdom Yes, the oily sheen of Saudi’s wealth is making waves in the football world. Forget the quiet pilgrim trails of Mecca and Medina for a moment; the spotlight now also dances on the football pitches where international legends like Christiano Ronaldo and Neymar Junior now play. The staggering transfers of these athletes to Saudi football…

    Article 2023年9月13日

  • Joe Biden rejects Republican’s debt ceiling offer

    TL;DR Breakdown Biden labeled the latest Republican proposal on raising the government’s debt ceiling as “unacceptable”, suggesting it could risk a U.S. debt default. He remains open to spending reductions provided they come with appropriate tax adjustments; he is set to discuss this with House of Representatives Speaker, Kevin McCarthy. President Joe Biden, in a crucial standoff against the GOP over the issue of raising the government’s debt ceiling, has publicly labeled the Republican proposal as “unacceptable.” The rejection came during the G7 summit in Hiroshima, Japan, adding an international dimension to the domestic economic debate. Biden’s disapproval of the GOP’s fiscal strategy Biden, the Democratic incumbent, criticized the GOP’s offer, suggesting that certain Republicans might even be betting on a U.S. default on its debt to obstruct his potential re-election in 2024. He expressed his willingness to make reductions in public spending, provided they were combined with necessary adjustments to taxes to strike a balanced deal. His remarks came as the June 1 deadline looms ominously over the federal government, the date when the Treasury Department has predicted it…

    Article 2023年5月22日

  • Russia advances in the CBDC race as Putin signs digital ruble bill into law

    TL;DR Breakdown Russian President Vladimir Putin has signed into law a bill that paves the way for the creation of a Central Bank Digital Currency (CBDC), the digital ruble. The law, which comes into effect on August 1, 2023, allows the Bank of Russia to issue the digital ruble, which will be used alongside cash and non-cash rubles. The use of the digital ruble will be voluntary, and the Bank of Russia does not expect mass adoption before 2025 or 2027. Description Russian President Vladimir Putin has signed the digital ruble bill into law, marking a significant step towards the country’s central bank issuing its own digital currency, according to a document released by the Russian government. The law, signed on July 24, 2023, will officially come into effect on August 1, 2023. This development follows the … Read more Russian President Vladimir Putin has signed the digital ruble bill into law, marking a significant step towards the country’s central bank issuing its own digital currency, according to a document released by the Russian government. The law, signed on July…

    Article 2023年7月25日

  • BNB auto-burn: Binance’s 24th quarterly burn eliminates $44.61 million worth of tokens

    TL;DR Breakdown Binance completes its 24th quarterly burn of BNB tokens, destroying 1.99 million tokens worth $44.61 million. The burn aims to reduce the overall circulating quantity of BNB tokens and increase their potential value. Binance aims to reach 100,000,000 BNB tokens by implementing deflationary measures. Description Binance, one of the leading cryptocurrency exchanges, has completed its 24th quarterly burn of its native BNB coins. This strategic move was executed through the BNB Automatic Burn mechanism, aimed at reducing the overall circulating quantity of BNB tokens and increasing their potential value. The burn event witnessed the permanent destruction of 1.99 million BNB … Read more Binance, one of the leading cryptocurrency exchanges, has completed its 24th quarterly burn of its native BNB coins. This strategic move was executed through the BNB Automatic Burn mechanism, aimed at reducing the overall circulating quantity of BNB tokens and increasing their potential value. The burn event witnessed the permanent destruction of 1.99 million BNB tokens, equivalent to approximately $44.61 million, at an average price of $310.99 per token. This latest burn demonstrates Binance‘s ongoing…

    Article 2023年7月20日

  • Binance.US challenges SEC’s proposed restraining order, citing potential closure

    TL;DR Breakdown Binance.US has requested the U.S. District Court to reject the SEC’s proposed restraining order, warning that it would lead to the closure of its business. The crypto exchange argues that the SEC’s claims fail to identify any securities traded on its platform and questions the regulator’s assumption that all cryptocurrencies are securities. Binance.US has proposed an alternative solution to address the SEC’s concerns and suggests transferring assets to BAM’s control, ensuring customer funds remain secure while addressing registration irregularities. Binance.US has filed a request with the U.S. District Court to deny the proposed temporary restraining order by the Securities and Exchange Commission (SEC). Binance.US argues that implementing the order would effectively lead to the closure of BAM Trading Services Inc., the entity behind Binance. US. The SEC’s emergency motion for the restraining order is scheduled for a hearing on June 13. Binance.US strongly criticized the SEC’s approach to the legal action, calling it “draconian and unduly burdensome.” The crypto exchange pointed out that the SEC still needs to identify a single security trading on BAM’s platform, countering the…

    Article 2023年6月16日
TOP