Can Cryptocurrencies Be Green? The Role of Stablecoins Toward a Carbon Footprint and Sustainable Ecosystem

Dimitrios Koemtzopoulos, Georgia Zournatzidou () and Nikolaos Sariannidis
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Dimitrios Koemtzopoulos: Department of Accounting and Finance, University of Western Macedonia, GR50 100 Kozani, Greece
Georgia Zournatzidou: Department of Business Administration, University of Western Macedonia, GR51 100 Grevena, Greece
Nikolaos Sariannidis: Department of Accounting and Finance, University of Western Macedonia, GR50 100 Kozani, Greece

Sustainability, 2025, vol. 17, issue 2, 1-17

Abstract: (1) Background: Cryptocurrencies have a substantial environmental impact. In particular, the mining procedure that is employed to produce and finalize the transaction is energy-intensive and generates carbon emissions. Consequently, the objective of the present investigation is to investigate the function of cryptocurrencies in a sustainable development. This research specifically investigates the function of stablecoins, a novel subject in finance and academia that has the potential to foster a sustainable business environment. (2) Methods: A bibliometric analysis was performed using the R statistical programming language together with the bibliometric tools Biblioshiny and VOSviewer to fulfill the research objective. Data were obtained from the Scopus database, and their selection was completed using the PRISMA methodology. (3) Results: The results of the current research highlight the crucial role of stablecoins in promoting an alternative decentralized financial sector, offering a unique opportunity for the market to create a more inclusive and environmentally friendly financial ecosystem. Moreover, research indicates that stablecoins might convert Ethereum into a stable currency and enhance their ecologically friendly path. (4) Conclusions: Stablecoins have become a crucial tool in the unpredictable bitcoin environment, offering stability in a tumultuous market. The research indicates that users need to acknowledge the sustainability of asset collateral, and so far, only the regulation of stablecoins is progressing in this area.

Keywords: sustainability; stablecoins; business ecosystem; volatility; green cryptocurrency (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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