What has happened?
The US Senate is to consider the energy efficiency of blockchain and similar technologies next week.
What does this mean?
According to an announcement on its website, the Committee on Energy and Natural Resources will host a hearing on 21 August in Washington DC to examine whether blockchain technology might affect electricity prices and what benefits it can provide.
"The purpose of the hearing is to consider the energy efficiency of blockchain and similar technologies and the cybersecurity possibilities of such technologies for energy industry applications," the announcement said.
Specifically, the hearing will ask whether we should "expect electricity prices to increase from rising electricity demand in blockchain applications?".
The hearing will also ask whether blockchain and similar technologies will improve the cybersecurity of computing systems used to supply energy.
The hearing will be webcast live on the committee’s website and a video will be available afterwards.
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