This year’s Annual Meeting will feature a one-on-1 discussion. Camp EtherealSponsored by DecryptPeter Singer, a renowned philosopher, spoke Sam Bankman Fried, CEO of FTX was interviewed on a range of topics, including the Russia-Ukraine Conflict and how crypto affects the environment.
As an Singer, an ethicist, was eager to hear Bankman-Frieds thoughts about crypto’s moral role in today’s world. Singer raised concerns about the industry’s excessive energy consumption.
Bankman-Fried replied that cryptos need to be reduced in carbon footprint and that current proof of work blockchains like Ethereum and Bitcoin were not sustainable long term due to high energy costs. This leads to high transaction fees.
Singer was also informed that other proof of stake protocols have virtually no environmental impact.
Bankman-Fried stated that we have to live in a world that sees most of the scaling occurring through proof-of-stake. He added: I think that one of the most fortunate things about this is that it will have to happen anyway. This is a problem that’s under a lot economic pressure.
Singer, a Princeton professor who has written extensively about altruism and spoken extensively about it, wanted to know if Russia could use cryptocurrency to bypass sanctions imposed after Ukraine invaded. Singer noted that crypto is often used by criminal underworlds to move money and protect them from being exposed or people trying to avoid taxes.
“We haven’t seen any attempts from Russia money transfer through crypto,” stated the FTX CEO. “It is a little surprising to see that we haven’t seen this.
Singer and Bankman Fried discussed in a related article how much of Ukraine’s aid has been channeled into cryptocurrencyBankman-Fried noted that crypto has already been used to give out tens and millions of dollars, and added that it was a great example for banking the unbanked.
Singer noted that if people have crypto and are interested in donating to charities that are effective, this is a big plus.
Bankman Fried added that the Russia-Ukraine Conflict illustrates a different view of unbanked and underbanked populations who could greatly benefit by increased financial opportunities.
IThe FTX CEO said that if there is a tank outside of your bank, you are going to be more underbanked then you thought. So it was really cool to see. [crypto]Donate to an international financial lifeline.
https://decrypt.co/94921/peter-singer-sbf-discuss-crypto-environmental-impact-russia-ukraine-helping-unbanked
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