• With its upcoming “Blockchain Chip,” Intel hopes to address Bitcoin’s “climate issue.”

  • Intel Corporation CEO Patrick Gelsinger highlighted how his company’s next crypto mining hardware could assist fix Bitcoin’s “climate issue” yesterday (February 16).

    Gelsinger began his career in October 1979 as senior vice president and general manager of the Digital Enterprise Group, according to his LinkedIn profile, and he held these posts for the next 30 years. He was also the company’s CTO for five years, beginning in January 2000. He was president and COO of EMC from September 2009 to August 2012, and CEO of VMware from September 2012 to February 2021, before returning to Intel in February 2021.

    Gelsinger said, ”

    “I do, in fact. In Bitcoin, a single ledger entry uses enough energy to run your home for nearly a day. Right now, that’s a climate issue, and the more you use it, the worse it gets.

    “Wow, that’s not okay if we build a technology that consumes that much energy.” Then there’s the fact that most of the purposes I mentioned were illegal, right? It couldn’t be regulated, either. As a result, it has the potential to become a widely used currency by both nations and individuals.

    “So, I have this slogan, and we at Intel feel strongly that we must shape technology to be a force for good, right?” A climate disaster if it’s being used for negative purposes… That’s not good enough yet. That isn’t to say it isn’t a good technology; it just means we haven’t put it to good use yet.

    “Well, Intel is about to release a blockchain chip that is significantly better, orders of magnitude better in terms of power performance.” As a result, we’re contributing to the solution of the climate problem. We want to engage with the industry to figure out how to properly regulate and manage technologies like blockchain so that they can be fully realized.

    “Yes, this is one of those areas where we’re going to concentrate on making improvements since this is a tremendous technology.” Currency transactions and supply chains can be transformed by an immutable, leverageable digitized entry system. So, yes, this one is thrilling.”

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