Blockchain vs global warming

OK, so let’s do some math. According to online purchases should hit $638 billion in 2022. These purchases use payment gateways to hand over the money from clients to businesses. Credit card operators are charging each transaction from 1.15% + $0.05. Of course, gateways like PayPal and similar are often charging more but for simplification, let’s take the lower that is 1.15%. It makes $7.3 billion in transactions costs. As a comparison let’s take the Solana network (Blockchain solution). The average transaction fee on that chain is $0.00025. Depending on a source an average online transaction is around $112, so the Solanas % fee would be 0.00022%. If it would replace the traditional payment methods that overall fee would drop to $1,4 million. If we would replace the traditional online payment methods with a Solana solution then the $7.3 billion credit cards fees could be spent on something else.

For example trees. Planting a single tree costs $0.85 based on, so you could get around 8.6 billion trees planted. Based on the we are losing 15 billion trees each year. This means that the money from the payment switch could regenerate over 57% of total trees cut down. Quite outstanding I would say.

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