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Kramer 1 Carson Kramer Mr. Emerick English 101: Period 3 3 December 2021 Topic Proposal Since its origins, currency has come in all shapes and sizes over the generations. From metal coins, to paper currency, to credit cards, money has changed form many times and yet still remains valuable. However, with the newest form “cryptocurrency” that has been growing in popularity over the past few years, people have begun to wonder if crypto is the future of money or if it’s just another fad. To truly understand the longevity of cryptocurrency, I need to analyze the economic, political, and environmental sustainability of cryptocurrency. Are the economic incentives and structures in place for crypto to be used in an effective manner? How are countries handling the legislation and management of crypto integration in their economies? Are the means of production for crypto environmentally sustainable long-term? My main goal is to understand the longevity and growth of cryptocurrency, alongside the feasibility of using crypto in a larger capacity through analysis of different countries' crypto approaches, fundamental economic ideas already used in modern-day currencies, and the actual mining process and byproducts of crypto creation. Annotated Bibliography Ekman, Alice. China’s Blockchain and Cryptocurrency Ambitions: The First-Mover Advantage . European Union Institute for Security Studies (EUISS), 2021. JSTOR , http://www.jstor.org/stable/resrep34058 .

Kramer 2 In China’s Blockchain and Cryptocurrency Ambitions: The First-Mover Advantage , Alice Ekman analyzes direct statements and legislation by the Chinese government to reflect China’s approach towards blockchain technology and cryptocurrency. This research also reflects China’s ambitions with blockchain and the implementation of their own modified digital currency. As the growth of cryptocurrency has boosted in the past few years, China has grown worried about the implications of a decentralized currency on the Communist party’s ability to surveil their citizens' financial transactions. However, China still sees value in blockchain technology and the idea of a digital currency. Due to this, China has taken the framework and technology of mainstream cryptocurrencies and developed their own centralized currency, the “digital yuan”, controlled by the People's Bank of China. Ekman explores the endeavors of other countries attempting similar feats, but China is the first country to test it’s own digital currency. This first-mover advantage described in the article enables the Chinese government to set the standard for authoritarian governments to utilize new technology like blockchain to their advantage, even when the technology’s original intention directly conflicts with the ideals of authoritarian control. Ekman’s perspective on China’s approach to cryptocurrency provides valuable insight for my research topic as it reflects how major world powers recognize the technology behind crypto as long lasting, but the individual currencies may not be as authoritarian governments like China ban and deconstruct currencies’ ideological foundations for their own gain.

Kramer 3 Ephrat, Livni. "Can Crypto Go Green?" New York Times , NYTCo, 10 Oct. 2021. https://www.nytimes.com/2021/10/10/business/dealbook/crypto-climate.html . Accessed 18 Nov. 2021. In "Can Crypto Go Green?" Livni Ephrat interviews experts on cryptocurrency and it’s byproducts to shed light on the environmental impact left from mining cryptocurrencies such as Bitcoin. Growing concern over carbon emissions and pollution has put a spotlight on the high-energy consuming cryptocurrencies, currently utilizing a network of thousands of computers around the globe that run mainly off fossil fuel energy. Ephrat analyzes the root of the problem, the process of creating new blocks in the blockchain through the process of “proof of work” (Ephrat). This process is the most energy consuming part and requires the same magnitude of power as a small country. Ephrat interviews three experts in the cryptocurrency arena to shed light on the wasteful nature of mining. Ephrat also touches on the hardware itself, in which crypto miners blow through computers faster than the average consumer due to their need for faster and more efficient methods of mining. This creates pollution beyond simply carbon emissions, as technology is scrapped and the toxic materials in their hardware are left to pollute landfills. Ephrat’s article looks at my research question from the environmental side of longevity. For cryptocurrencies like Bitcoin to survive long term, the means of production need to adapt to more sustainable methods as the problem of climate change worsens and the world takes measures to combat it. A downside to this piece, however, is the partial bias presented by the experts interviewed, alongside the opinionated nature of the article overall.

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