Daniel Tsai, Chairman of Fubon Group and Taiwan’s richest man, stated in a speech at National Taiwan University that the green economy would encompass not only traditional investment and financing but also cryptocurrency.
“I firmly believe that the era of Crypto (cryptocurrency) will come one day,” Tsai said during the address on November 1, where he highlighted the rising importance of blockchain technology in traditional investment and financing.
He also stated that the green economy does not only involve traditional investment and financing, and that in the future, there will be financial commodities derived from carbon rights, with an increased likelihood of blockchain-based rather than traditional currency transactions.
In his speech, he also emphasized the increasing relevance of AI in the future, as well as its energy use, which will be a valuable asset in future energy consumption and utilization of renewable and green energy sources.
Taiwan legally regulated virtual currency this year with a bill that establishes the definition of a virtual asset and how virtual currency exchanges should operate in the country.
AI has had a significant impact since its introduction, finding applications in a variety of industries around the world, but the issue remains: how much energy does it consume, and how much does it save?
Their use saves a lot of time and work, which comes at a cost, but one feature that goes unnoticed is how much energy it consumes.
Alex de Vries, the founder of Digiconomist, discovered that when an AI generates data based on prompts, it consumes a large amount of computational power and energy. ChatGPT, for example, can utilize 564 MWh of electricity each day.