The Energy Consumption of Blockchain Technology: Beyond Myth

Authors

Johannes Sedlmeir, Project Group Business and Information Systems Engineering of the Fraunhofer FIT, Bayreuth, GermanyFollow
Hans Ulrich Buhl, Universität AugsburgFollow
Gilbert Fridgen, University of LuxembourgFollow
Robert Keller, FIM Research Center, University of Augsburg, Augsburg, Germany

Document Type

Catchword

Abstract

When talking about blockchain technology in academia, business, and society, frequently generalizations are still heared about its – supposedly inherent – enormous energy consumption. This perception inevitably raises concerns about the further adoption of blockchain tech- nology, a fact that inhibits rapid uptake of what is widely considered to be a groundbreaking and disruptive innova- tion. However, blockchain technology is far from homo- geneous, meaning that blanket statements about its energy consumption should be reviewed with care. The article is meant to bring clarity to the topic in a holistic fashion, looking beyond claims regarding the energy consumption of Bitcoin, which have, so far, dominated the discussion.

Recommended Citation

Sedlmeir, Johannes; Buhl, Hans Ulrich; Fridgen, Gilbert; and Keller, Robert (2020) "The Energy Consumption of Blockchain Technology: Beyond Myth," Business & Information Systems Engineering: Vol. 62: Iss. 6, 599-608.
Available at: https://aisel.aisnet.org/bise/vol62/iss6/9