The Mozilla Foundation earlier accepted donations in cryptocurrency for developing its Firefox web browser. However, certain issues have been brought up regarding the environmental impacts of crypto. This came in the form of a backlash from many users and donors of Mozilla. And now, the foundation will no longer be accepting donations in the form of cryptocurrency until further notice.
The foundation issues a statement that did not imply a complete shutdown. They stated that the technology on which cryptocurrency runs is something they will have to closely review and decide whether it fits with their environmental goals as an organization. But, until such a decision is reached, donations can not be made via Bitcoin or any other cryptocurrency.
The backlash was primarily started by one of the founders, Jamie Zawinski after Mozilla posted a tweet asking donors to use Bitcoin and other cryptos to provide donations. The environmental concerns regarding crypto mining are making many international brands distance themselves from the process. Tesla also closed their doors to crypto-based transactions early last year.
The future of Bitcoin and other cryptocurrencies is not absolutely dark. While currently the amount of power required to mine cryptos is around 148 terawatts-hour, scientists are working on developing means that have a lesser carbon footprint. However, not all businesses are opposed to this technology. The founder of Twitter recently backed Bitcoin by stating that most organizations make use of similar technology anyway.
But, the fear of being tagged as an anti-environmental organization is very real. Apart from the Mozilla Foundation and Tesla, streaming platform Discord and gaming company GSC both dropped crypto-related ideas in their future projects. Will this technology take a turn for the better or become obsolete due to the environmental impact? Only time will tell!