Elon Musk Shows Support for Nuclear Energy at Crypto Conference

Divya  |  Jul 23, 2021

Tesla CEO Elon Musk has reiterated his support for nuclear energy while discussing the approaches to making Bitcoin mining sustainable. The centibillionaire expounded his ideas on the subject at The B Word conference organized by the Crypto Council for Innovation.

Elon Musk Hails Nuclear Energy as “Extremely Safe” at Crypto Event

On Wednesday, Musk participated in a streaming conference where he talked about nuclear energy and how it could be made safer for use.

Considered to be a green energy source for its lack of carbon emissions, nuclear power has been debated over the years due to safety concerns. Notable incidents at power plants in  Chernobyl and Fukushima have done lasting damage to nuclear energy’s reputation.

Despite the overarching concerns around its use, Musk believes that nuclear power is effective as well as safe. “I think modern nuclear power plants are safe contrary to what people may think,” the Tesla CEO said during the conference.

“I really think it’s possible to make very, extremely safe nuclear.” And “I’m talking about fission. You don’t need fusion,” Musk added.

Musk’s latest comments on nuclear energy come amid an ongoing diversification of Bitcoin mining in the world. Following China’s crackdown on crypto miners, BTC’s mining share is getting redistributed across the globe. This has also encouraged miners to adopt renewable energy sources for their operations to counter any potential ethical and legal roadblocks.

Nuclear energy is also becoming an attractive option among crypto miners. For instance, crypto mining firm Compass inked an agreement with nuclear fission startup Oklo in June to get access to cheap electricity to fuel its operations. Similarly, power producers Energy Harbor and Standard Power have teamed up to provide nuclear energy to a new Bitcoin mining site in Coshocton, Ohio.

Enjin Joins United Nations Global Compact, Will Explore Novel Ways to Use NFTs

Blockchain platform Enjin has been accepted into the United Nations Global Compact Committee as a participant. In an announcement published on its official blog, the company stated that it would contribute to the agency by exploring ways to use blockchain and NFTs (non-fungible tokens) to foster sustainability and equality. 

While we are struggling to recover from the global pandemic and its impacts, we are experiencing exponential growth of technology, such as AI and blockchain,”  Irakli Beridze, the head of Centre for AI and Robotics at the United Nations Interregional Crime and Justice Research Institute noted.
"More than ever, we need to take advantage and harness the potential of these new technologies to ensure that we are better equipped and more united in the future, in order to make our planet a more livable, equitable place for all," Beridze added.

Enjin has previously joined other climate initiatives to promote sustainable development practices in the blockchain industry. The company launched its carbon negative blockchain JumpNet in June and joined the Crypto Climate Accord (CCA) to make NFTs carbon neutral by 2030. It also intends to develop standards, tools, and technologies in collaboration with the CCA to accelerate the adoption and progress of renewable energy-powered blockchains by 2025.

Despite the mounting worries over crypto mining and transacting, the UN opines that blockchain technology can effectively fight against the climate crisis and help the financial economy become more sustainable. The agency also thinks that the industry could increase the adoption of solar and wind energy in the future and boost climate financing -- investments made towards slowing climate change rate.

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