Can AI finally kill Bitcoin? The collision of two digital titans

Written by Dr Oliver King-Smith, CEO of smartR AI

Bitcoin's environmental footprint rivals entire nations, while its practical applications remain limited. Meanwhile, AI is revolutionising digital security and analysis. Could intelligent systems be the force that either rehabilitates cryptocurrency or ultimately exposes its fundamental flaws? This exploration examines how these two technological forces are colliding, with potentially transformative consequences for digital finance.

The incredible wastefulness of proof of work

When you get right down to it, Bitcoin is an incredible waste of resources. Essentially, to mine Bitcoin you waste a bunch of energy solving a useless mathematical puzzle. How sensible is that? According to the Cambridge Centre for Alternative Finance, Bitcoin mining consumes approximately 127 terawatt-hours of electricity annually - more than the entire country of Norway. This consumption results in an estimated carbon footprint of 65.4 million tons of CO2 annually, comparable to the emissions of Greece. It used …