INFOGRAPHIC: Myth vs. Reality - Crypto & Web3
MYTH: Crypto is terrible for the environment
All cryptocurrencies use an exorbitant amount of energy and are wasteful. Crypto is simply incompatible with a sustainable world.
REALITY: Blockchain can be an essential tool to fight climate change
Many cryptocurrencies are built on energy efficient protocols like proof-of-stake, and Blockchain tech can actually help combat climate change as demonstrated by the ReFi movement.
MYTH: There are no real-world use cases for cryptocurrency
Cryptocurrency presents no positive real-world use cases and is no different than a credit card or any other payment method. In other words, it is pointless technology.
REALITY: Crypto is driving a new wave of social impact innovation
We are in the midst of a technological revolution that is driven by the principles of regenerative finance and using Web3 technology to build a better world.
MYTH: It's just a bunch of "crypto bros" looking for a quick buck
There is no diversity in the crypto space. It is made up entirely of wealthy "bros" only interesting in using cryptocurrency to try and make a quick buck.
REALITY: There is a growing focus on inclusion in Web3
Inclusion has become a key feature of Web3, and there are dozens of collectives and projects focused on increasing representation in Web3 and building a more diverse and inclusive space.
MYTH: Cryptocurrency is only used by criminals
Cryptocurrency is used only by criminals for the purposes of money laundering, black market purchases, ponzi schemes, and ransomware attacks.
REALITY: The vast majority of blockchain activity is legitimate
According to Chainalysis (2022), only 0.62% of crypto transactions are for illicit purposes, with the vast majority of transactions being legitimate.
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