Environmental impacts of bitcoin: A stakeholder theory approach

Thong Doa; Jeremy Eng Tuck Cheah; Suliman Alshahmy

doi:10.1515/9783110981551-013

Environmental impacts of bitcoin: A stakeholder theory approach

Thong Doa^*, Jeremy Eng Tuck Cheah, Suliman Alshahmy

^*Corresponding author for this work

School of Social Sciences

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

The rise of bitcoin and many other cryptocurrencies has raised serious concerns about their environmental impacts. These concerns are due to the fact that the working mechanism of various cryptocurrencies is computationally demanding and thus highly resource-intensive. In this chapter, we use the stakeholder theory to analyse environmental issues of bitcoin, the first and largest cryptocurrency. This theory suggests that firms should be examined in relation to their stakeholders. We identify 'the firm' in the context of cryptocurrency and different stakeholders including customers, suppliers, competitors, surrounding communities, and regulators. We then investigate their respective roles with regard to bitcoin and the environment.

Original language	English
Title of host publication	Advances in Blockchain Research and Cryptocurrency Behaviour
Publisher	de Gruyter
Pages	287-310
Number of pages	24
ISBN (Electronic)	9783110981551
ISBN (Print)	9783110995596
DOIs	https://doi.org/10.1515/9783110981551-013
Publication status	Published - 2024

Keywords

Bitcoin
Bitcoin mining
Cryptocurrency
Cryptocurrency mining
Environmental impacts
Stakeholder theory

ASJC Scopus subject areas

General Economics,Econometrics and Finance
General Business,Management and Accounting

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10.1515/9783110981551-013

Cite this

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abstract = "The rise of bitcoin and many other cryptocurrencies has raised serious concerns about their environmental impacts. These concerns are due to the fact that the working mechanism of various cryptocurrencies is computationally demanding and thus highly resource-intensive. In this chapter, we use the stakeholder theory to analyse environmental issues of bitcoin, the first and largest cryptocurrency. This theory suggests that firms should be examined in relation to their stakeholders. We identify 'the firm' in the context of cryptocurrency and different stakeholders including customers, suppliers, competitors, surrounding communities, and regulators. We then investigate their respective roles with regard to bitcoin and the environment.",

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AU - Cheah, Jeremy Eng Tuck

AU - Alshahmy, Suliman

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N2 - The rise of bitcoin and many other cryptocurrencies has raised serious concerns about their environmental impacts. These concerns are due to the fact that the working mechanism of various cryptocurrencies is computationally demanding and thus highly resource-intensive. In this chapter, we use the stakeholder theory to analyse environmental issues of bitcoin, the first and largest cryptocurrency. This theory suggests that firms should be examined in relation to their stakeholders. We identify 'the firm' in the context of cryptocurrency and different stakeholders including customers, suppliers, competitors, surrounding communities, and regulators. We then investigate their respective roles with regard to bitcoin and the environment.

AB - The rise of bitcoin and many other cryptocurrencies has raised serious concerns about their environmental impacts. These concerns are due to the fact that the working mechanism of various cryptocurrencies is computationally demanding and thus highly resource-intensive. In this chapter, we use the stakeholder theory to analyse environmental issues of bitcoin, the first and largest cryptocurrency. This theory suggests that firms should be examined in relation to their stakeholders. We identify 'the firm' in the context of cryptocurrency and different stakeholders including customers, suppliers, competitors, surrounding communities, and regulators. We then investigate their respective roles with regard to bitcoin and the environment.

KW - Bitcoin

KW - Bitcoin mining

KW - Cryptocurrency

KW - Cryptocurrency mining

KW - Environmental impacts

KW - Stakeholder theory

UR - https://www.scopus.com/pages/publications/85205086740

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M3 - Chapter

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SP - 287

EP - 310

BT - Advances in Blockchain Research and Cryptocurrency Behaviour

PB - de Gruyter

ER -

Environmental impacts of bitcoin: A stakeholder theory approach

Abstract

Keywords

ASJC Scopus subject areas

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