Energy and Natural Resources Minister Fatih Dönmez made statements about cryptocurrencies at a conference he attended.
Speaking at the conference on “Independent Energy Strong Turkey” organized by Uludağ University, the Minister made statements about Turkey’s energy policies and the gas in the Black Sea.
Stating that cryptocurrencies consume high energy, the Minister said, “The money spent on them can change the lives of millions of people in Africa.” said. Dönmez continued his statement on high energy consuming sectors as follows:
“Artificial intelligence algorithms today are very successful but consume incredible electricity. In fact, we can say that home appliances are replaced by algorithms. But the clever design of these algorithms can open up a lot of space. In other words, it is important that increasing or decreasing energy consumption or heating-cooling systems support the general system according to the signals coming from the network.
Perhaps the most critical point of the energy transition is the decarbonization of the industry. To give an example, such as producing zero-emission steel from hydrogen. The cement sector is much more interesting because heat is used a lot and emissions are generated due to chemical reaction in the process.
The production of chemicals, plastics and many other products takes incredible energy and produces emissions in return. Producing a T-shirt costs 3,000 liters of water. It also requires 2 kilowatt hours of electricity. We urgently need technologies to reduce this energy and resource consumption.”