U.S. Tax Policies about Solar Power and Its Assistive Role in New Technologies
All cryptocurrency-based technologies cause the increase of the amount of CO2. The SPS was fortunately suggested to electrify their mining.
Considering wide variety of areas in new technologies which is applied by almost all types of people regardless of their age and education, this high volume of technology use entails great electric energy consumption the main source of which is fossil fuels the damages whereof is not hidden from anyone. The alteration of energy resources to green energy can be an effective policy; though, there hasn’t been financial, regulatory and technological provisions yet.
One of the pioneers in applying Blockchain and AI is the U.S. and reportedly the government has dramatic increasing spending on Blockchain from 2017 and the investors in this country, too, have allocated more budget on digital assets. It seems that their final objective is to return cryptocurrency to its profit-making period.
Change in Blockchain structure
What have stimulated the U.S. to transform the Blockchain structure was Facebook’s launching its new cryptocurrency to act as the rival for the payment system issued by China and worked based on Blockchain. The result was issuing a Utility Settlement Cryptocurrency (USC) coin called JPM Coin backed by BNY Mellon, Nasdaq and State Street.
Different domains of Blockchain application
You can trace the Blockchain technology in various fields; for instance, TradeLens a shipping-focused Blockchain with is applied to track sustainable groundwater usage. The other is the healthcare, Pfizer Inc. is one of the companies which have used Blockchain technology in this regard. This technology is also used in aerospace industry, flight recorders and cyber security are some cases in point. Taking all these developments, if some new innovative solutions are not proposed, the estimations by the Technical University of Munich and Massachusetts Institute of Technology pointing to big volumes of CO2 emission will continue will come true. Of course, it has been predicted by LUT University of Finland and the Energy Watch Group that the gas emission can reach zero by 2050 in case the solar energy is used globally.
Taxing Can Help the Environmental Problems
Environmental tax is a kind of tool to intrigue the countries to decrease the amount of pollutants they emit. It started in the U.S. and plays the role of incentive to develop ecologically sustainable activities. One of these policies applied is the Carbon Tax regime which sets a price for each ton of gas emission. It seems that all these attempts are to make the companies and industries find new ways to reduce this emission and lower their extra charges consequently. On the other hand, the governments help them by considering some business incentives like tax credits to address some innovations in using renewable energies more.
SPS and Reducing CO2 Emission
As it was mentioned before, almost all cryptocurrency-based technologies cause the increase of the amount of CO2. The SPS was fortunately suggested to electrify their mining.