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RE: Bitcoin energy consumption and media spinning
How does the banking system generate so many more tons of CO2 compared to the other systems?
How does the banking system generate so many more tons of CO2 compared to the other systems?
Just imagine how many Banks there is and how much electricity they use.
This is some data from Quora and this is number of banks. Each bank have numerous branches so there is 30k Banks times X number of Bank branches. Huge energy consumption :
US has approximately 7K banks and 7K credit unions (Credit unions grow in size and services, shrink in number)
EU has about 9K (Number of European banks decreases rapidly | Business | DW.COM | 21.01.2013)
I would assume that another 3,000 banks from 20 or so countries (Russia (700), Japan (200), China, Canada, UK, Mexico, Indonesia, etc.) with over 100 banks/country.
For the rest of the world I would take Faisal’s estimate - average of 30/country for another 3–4K.
This yields about 30K banks and similar FIs (credit unions, building societies, landesbanken, S&L) globally.