Bitcoin & Environmental Justice

Bitcoin and Environmental Justice

The Lord God took the man and put him in the Garden of Eden to till it and keep it. 

-Genesis 2:15


The climate is changing, and it is having a negative effect on local and global ecosystems. Humans and other living things are experiencing an increase in frequency and strength of natural disasters. God calls Christians to care for Creation so that all people and living things can flourish. 

The currently global economic system is untethered from the environment, and as a result of this, society has experienced unsustainable levels of consumption that is negatively affecting our local and global environments. Bitcoin's novel Proof of Work [1] system means that it is directly connected to energy that is produced through our environment. Bitcoin's connection to the environment is allowing the network to be used in ways that are driving increased renewable energy creation as well as existing greenhouse gas mitigation. Because of this, the Bitcoin network is decarbonizing faster than any other comparable industry (including the existing banking sector).

Bitcoin is a monetary system that incentivizes saving for the long term. This incentive for saving exists because of the hard cap of 21 million Bitcoin that will ever exist. This scarcity leads to an increase in value over time, which in turn incentivizes people to only spend their Bitcoin on things they need. Contrast this with the current global economic system that incentivizes people to spend their money as soon as possible because inflation guarantees that their money will be worth less in the future.  Quicker spending means quicker consumption of natural resources.

Many justice issues are intersectional. People and communities experience multiple discriminations that fall within these different intersectional justice categories. Part of what makes Bitcoin such a powerful tool for ministry is that it addresses justice issues in intersectional ways. Be sure to check out all the intersectional justice issues to see how they overlap.

[1] Proof of Work: Wikipedia