How Green Energy Will Transform The Ranks Of The World’s Biggest Electric Generator

The article is written by Christopher Helman

Judging from the hype, the world’s energy sector has embarked on a transitional journey to a clean, green, low-carbon future powered by windmills and solar panels to develop green energy sources. 

It’s going to be a long trip. According to the International Energy Agency, we still derive an incredible 80% of our primary energy from fossil fuels—with oil contributing 32%, coal 27% and natural gas 23%. 

The transition can only occur as rapidly as the world’s utility companies can invest the trillions of dollars needed to cover the world’s hills and pastures with enough photovoltaic panels, wind turbines and nuclear reactors to replace dirty electrons with clean ones. 

Electric industry analyst Hugh Wynne of research shop SSR says that investors have to operate under the assumption that world governments will only move more aggressively to turn the screws on the biggest polluters. Carbon dioxide will be regulated in one way or another, via a carbon tax, cap-and-trade, emissions allowances, something, he says. Those companies with stubbornly high emissions are going to have to pay to pollute — while those with low emissions will enjoy a cost (and profitability) advantage. 

Digging in, Wynne (formerly of Bernstein Research) has run the numbers on the carbon intensity of the world’s biggest utilities, including most of the Forbes Global 2000 utility company components. He found that the “dirtiest” utilities are those with coal-fired fleets in China, Russia and India. According to his calculations, China Resources Power and Huaneng Electric both emit .97 tons of carbon dioxide per megawatt hour generated (roughly enough electricity to provide 1,000 homes with power for an hour). Also in the carbon doghouse are Datang at .94 tons/mwh, Inter RAO at .93 and Zhejiang Zheneng at .90. 

On the other side of the scale, we find utilities heavy into nuclear power: with Exelon at .05 t/mwh and Electricite de France at .08. Spanish renewables giant Iberdrola and progressive southeastern U.S utility NextEra (parent company of Florida Power & Light) are tied at .21. 

eanwhile, some of the more progressively minded utility companies are keen to take advantage of new tools evolving out of advances in machine learning and artificial intelligence. Forbes Global 2000 companies Southern Company, Exelon, and Dominion Energy for example, are all customers of a startup called Urbint, which was founded by Forbes 30 Under 30 alum Corey Capasso and has raised more than $40 million in funding for its A.I.-driven infrastructure safety platform. “Damages to critical infrastructure are on the rise, and can cause harmful methane emissions and pose a major public safety threat,” says Capasso. “Preventing them is vital to not only the fight against climate change, but also to protect workers and the public.”

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Urbint’s system hoovers up records and blueprints of pipes, lines, conduits and builds a model of the real world. It’s a “most transformative” tool, says Emeka Igwilo, chief data officer at Southern Company Gas, itself a division of Atlanta-based Southern Company (.49 t/mwh, by the way), who explains that the riskiest part of any utility company’s business is when people start digging on their properties without first calling their utility company. Every year Southern Company generates 2.2 million “tickets” where a customer intends to excavate and the company is legally obligated to send someone out to take surveys and mark the paths of buried lines and conduits. Despite the best intentions, humans get tired, rushed, don’t double check the documents, and in Southern’s territories they end up with about 5,000 damage cases every year for green energy. 

Urbint overlays its digital models with historic damage reports, the better to learn where accidents have happened before and might be likely again. The system itemizes for each location the particular excavation risks, even suggesting whether to add more manpower to a job. “The tool expands past what the human brain does in connecting the dots to seemingly unconnected events,” says Igwilo. “Now I don’t have people driving around looking for problems, I can direct them to where they need to go.” Southern rolled out Urbint to its Nicor division in 2019 and to the entire company last year. They are already seeing continuous improvement in reducing incidents. 

Preventing leaks and accidents all helps reduce a company’s carbon footprint. But neither greentech nor A.I. will be enough to save us. “No matter what you do, somebody has to turn a wrench,” says Igwilo. “This is just an augmentation to the physical work. The tool predicts, but somebody has to intervene.” We still need muscle, for now to maintain the Green Energy. 

Blockinvest Ventures is hereby to help you understand more regarding the investment industry with conscientious advice. We hope that you can feel the article was helpful and don’t forget to subscribe our website for further news!

CEO Sam Bankman Explains How To Get Best ROI

If greed is a merit, Sam Bankman-Fried is a member of the elite. The 29-year-old creator of cryptocurrency exchange FTX, now estimated at more than 10 billion dollars by having appropriate ROI strategy, earned his money quicker than anybody in contemporary history, even making Facebook creator Mark Zuckerberg look more like the turtle than the hare.

An adherent of the increasingly popular “effective altruism” philosophy, which states that evidence should lead the way to which good deeds are executed, Bankman-Fried set out to methodically analyze how he could do the most good with his life. While still in college he briefly considered working for philanthropic causes or Wall Street, before deciding that the best way to get a return on the investment he was preparing to make with his own life, was to get rich.

Speaking on a virtual stage today kicking off the 2021 Forbes Under 30 Summit, Bankman-Fried explained how figuring out how to make the biggest possible donation to the future of humanity led him to crypto, founding one of the largest cryptocurrency exchanges, and perhaps the largest single store of crypto wealth in the world. “Good is good however it comes,” said Bankman Fried, in conversation with Forbes chief content officer Randall Lane. “And in the end, my goal is just to figure out how I can have the most impact on the world whatever that means with ROI.”

Forbes chief content officer Randall Lane interviews FTX CEO Sam Bankman-Fried at the kick off of the 2021 Forbes Under 30 Summit Kickoff: Decade of Disruption.

Effective altruism was initially popularized in the late 2000s by Oxford professor Toby Ord, and entered the mainstream in 2015 with bioethicist Peter Singer’s book “The Most Good You Can Do,” published by Yale University Press. While Bankman-Fried earned a degree in physics from Massachusetts Institute of Technology, in 2014, he says he methodically analyzed his own life to determine whether working for a cause he believed in or founding a company was the best way to do the most good.

A savant trader who initially worked at quantitative trading firm Jane Street, Bankman-Fried became fascinated by the nascent world of cryptocurrency. Frustrated by his experience using traditional exchanges, and what he calls “non-sensical” margining systems that let people trade by borrowing funds and customer funds being lent out to “incompetent risk engines,” he saw an opportunity to make money—big money—by going for a leadership position in the quickly growing space.

In 2017 he founded quantitative trading firm Alameda Research, which manages $100 million in digital assets; cryptocurrency exchange FTX which regularly conducts $5 billion in transactions a day; and Serum a decentralized exchange. Following a similar path set out by cryptocurrency pioneer Changpeng Zhao, aka CZ, founder and CEO of Binance, Bankman-Fried’s three companies form the foundation of a nearly independent financial ecosystem, in which his firms are better able to capture the value they create. 

As a result of his work his net worth is now estimated at $11.5 billion—not counting $23 billion cryptographically locked up to assure users he won’t flood the market—and this year he became the wealthiest member of the tenth Forbes 30 Under 30 class, and the richest known cryptocurrency billionaire. 

In spite of so much of his wealth being locked up he’s already starting to lay the foundation for the eventual landfall that will likely hit his favorite causes including disease control and animal welfare. In February he launched the non-profit FTX Foundation, which has the mandate to give away 1% of FTX net fees and has already earmarked $8.9 million for donations, including six million dollars from other donors looking to follow Bankman-Fried’s lead in ROI.

Bankman-Fried is also establishing himself as a strategic political donor, having given$5 million to a super-PAC supporting U.S. President Joe Biden’s successful 2020 campaign. When Lane asked Bankman-Fried what initiative he’s most “geeked up” about the investor-entrepreneur talked about a different kind of effectiveness: influencing elections by backing candidates. “I had a lot of fun looking at politics last year, doing the math and thinking about what does have impact here? How do you estimate that?” said Bankman-Fried. “I think it was surprisingly effective. And there are more things that we’ll get there.”

Blockinvest Ventures is hereby to help you understand more regarding the investment industry with conscientious advice in ROI. We hope that you can feel the article was helpful and don’t forget to subscribe our website for further news!

Solar energy start-up Aurora hits Unicorn Status after $250 Million Funding Round

Aurora Solar, a software platform for solar sales and design that allows solar professionals to remotely determine various factors key to an installation: from how many solar panels will fit on a property, to the project’s energy production potential and battery needs, to the financial savings that switching to solar will bring to a client. 

Using features such as automated photovoltaic system design, lidar-based shade analysis and AI-assisted 3-D modeling, a solar installer using the Aurora software can save money as well as the time normally required to travel to the location of the installation, capturing its sunlight exposure and processing the results, ahead of providing a customer with a quote. 

Aurora Software illustration
Aurora’s solar design software allows for remote installation planning.

It’s a popular proposition: Aurora claims that more than 40,000 projects are created on its platform each week. Investors are increasingly paying attention, too. Aurora has raised a total $320 million in the past two years after nearly five years of bootstrapping. The startup announced today the closure of a $250 million Series C round—a fivefold increase since its $50 million Series B round announced in November. It is a testament to the increasing attractiveness of the solar industry, where costs for photovoltaic panels have decreased by more than 80% in the past decade, according to some estimates

And even if recent research indicates a reversal in the collapse of solar power price due to rising costs of its key raw material, polysilicon, Aurora’s cofounders say their technology can help push costs related to solar panel installation down further. “If you can be more accurate, and you know what system size fits how much you’re going to produce, what the savings are going to be, you can quote with much more confidence, and this is also going to reduce costs,” says Hopper, adding: “If we can make a dent in soft costs, that would be massive.”

The project was found by Sam Adeyemo and Chris Hopper in 2012 when they were M.B.A. students at Stanford University.

Aurora’s platform, which is powered by a variety of data sources, has been used so far to complete 5 million projects, Adeyemo tells Forbes—95% based in the U.S., with international demand picking up. With every new project, the platform acquires more data. “Increasingly, as our product develops, we’re also generating data that we can use to make the product better. That’s actually one of the most exciting aspects of what we’re doing,” he says. 

The automation potential and its application to other services is also what excites backers like Nomad. “As a software-as-a-service company, Aurora continues to outperform in all traditional metrics and, more importantly, continues to grow at rates that we only see in early-stage companies. The opportunity is beyond their initial SaaS product but in becoming the operating system for the solar industry,” he says.

Solar energy Aurora Cofounders Samuel Adeyemo and Christopher Hooper.
Samuel Adeyemo and Christopher Hooper met while earning their M.B.A.s at Stanford University and founded Aurora in 2013.

This solar energy project is expected to thrive more strongly in the future. Blockinvest Ventures is hereby to help you understand more regarding the investment industry with conscientious advice. We hope that you can feel the article was helpful and don’t forget to subscribe our website for further news!

The Future of Blockchain Technology

Blockchain is one of the most talked-about technologies in business right now. Blockchain tech has the potential to drive major changes and create new opportunities across industries – from banking and cybersecurity to intellectual property and healthcare. But not everyone agrees on what role blockchain should play in the future. What is blockchain, and what impact will it have on business going forward?

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How Blockchain Works

A blockchain is a decentralized database – an electronically distributed ledger or list of records that is accessible to various users. Blockchains use cryptography to log, process, and verify every transaction, making them secure, permanent, and transparent.

There are two general categories of blockchain:

  • Permissionless, which anyone can join
  • Permissioned, which requires participants to be authenticated by the person or group managing it (this category is further divided into private and community blockchain networks)

Who is Using Blockchain Already

Bitcoin is the most well-known example of blockchain technology, but it is joined by a growing number of early adopters. For example, Google, Goldman Sachs, Visa, and Deloitte are investing in blockchain projects. And businesses working on blockchain based services include:

  • Spotify, to manage copyrights
  • IBM, to build a tracking tool for shipping companies and retail chains
  • Eastman Kodak, to create storage for stock photos

What the Future Holds for Blockchain

Blockchain is an emerging technology, so predictions are still mixed about its potential.

In a TechRepublic Research study, 70% of professionals who responded said they hadn’t used blockchain. But 64% of said that they expect blockchain to affect their industry in some way, and most predict a positive result.

A recent Trend Insight Report from analyst firm Gartner made the following forecast:

  • Through 2022, only 10% of enterprises will achieve any radical transformation by using blockchain
  • By 2022, at least one innovative business built on blockchain technology will be worth $10 billion
  • By 2026, the business value added by blockchain will grow to just over $360 billion, then by 2030 grow to more than $3.1 trillion

Cybersecurity is one of the most promising areas of projected growth for blockchain technology. An ongoing challenge for businesses of all sizes is data tampering. Blockchain technology can be used to prevent tampering, keeping data secure and allowing participants to verify a file’s authenticity.

“We believe that blockchain technology will be transformative in the tech and IT sector in the coming years, similar to what the internet did for the world back in the 90s and early 2000s,”  said John Zanni, President of the Acronis Foundation, in Forbes. “Today, part of our storage and backup software lets users notarize any digital data and put that fingerprint on the blockchain to ensure it can’t be tampered with.”

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Why Ethereum Could Eventually Overtake Bitcoin in the Future?

Cryptocurrency price volatility has gripped markets in recent weeks, with ethereum, the second-largest cryptocurrency behind bitcoin, shedding over half of its value. The bitcoin price has also dropped substantially from its all-time high of about $65,000 per bitcoin achieved in mid-April, with erratic Tesla TSLA -0.9 percent billionaire Elon Musk.

“Technologies that began, as described as, bitcoin are moving very rapidly into other parts of the world. The app developers of ethereum are growing at 20x for the past six years straight, much, much faster than Moore’s Law, so that’s where the action is.”

Moore’s law, coined by the engineer Gordon Moore in 1965, posits computing speeds double every couple of years along with the number of transistors per silicon chip. He considered that Ethereum and Bitcoin will vary hugely in the future.

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Over the last 12 months, the popularity of so-called decentralized finance—using cryptocurrency technology built on top of ethereum’s network to recreate traditional financial instruments such as loans and interest and designed to replace the role of banks with blockchain-based protocols—has soared, helping the ethereum price rocket.

Meanwhile, the run-away popularity of non-fungible tokens (NFTs), largely issued on ethereum’s blockchain, to digitalize art and collectibles have added another ethereum use case in Ethereum and Bitcoin

The ethereum price rally over the last few months has far outpaced bitcoin’s, with ethereum adding almost 1,000% compared to bitcoin’s 300%, even with ethereum’s recent price crash. The ethereum market capitalization, the combined value of all ether tokens in circulation, has soared to almost $300 billion, just under half bitcoin’s near-$700 billion.

Some think long-awaited upgrades to ethereum, begun at the end of last year and designed to help ethereum scale and reduce its sky-high transaction costs, could help the ether price reach never-before-seen heights.

Mark Cuban, the billionaire investor made famous by the reality television series Shark Tank, has said he expects ethereum’s long-awaited 2.0 upgrade will spark the development of apps that “dwarf” bitcoin.

Blockinvest Ventures is hereby to help you understand more regarding the investment industry with conscientious advice. We hope that you can feel the article was helpful and don’t forget to subscribe our website for further news!

Blockinvest Ventures funds $30M capital for the development of a potential project Bitcoinnami

Cryptocurrency has always been a craze sector, especially in the recent, the prices of the crypto-coins have been steadily rising despite Covid-19 pandemic which has damaged the capital market.

Following the early stages of Bitcoinnami, Blockinvest Ventures highly appreciate the project’s vision and roadmap as well as the potential of the product their team created. Therefore, this venture have decided to invest $30M in this project, which is the first step for us to build beneficial partnerships and start with the future development orientation.

Blockinvest Ventures is a financial technology project that allows businesses to create bespoke financial instruments. The company seeks to replace current financial procedures by improving the journey of an instrument operator, providing means to enter the blockchain markets and remain compliant. BlockInvest has been investing for many crypto projects and exchanges, they have a full-scale global operation with the ability to trade on all major exchanges and markets.

BitcoinNami is envisioned as one of the first heterogeneous multi-chain frameworks designed to facilitate cross-chain interoperability and scalability of blockchains. This platform functions itself as a global payment connector. With simple technical applications built into the protocol of the system and firm cooperation and integration with international exchanges, users can promptly swap and trade BTCN and other tokens without any troubles.

The fundraise looks like a highly strategic one and so BlockInvest decided to invest 30 million USD to nurture the growth of this application implied for BTCN system’s technology and ideas. At the same time, the venture will make recommendations on strategic directions in the coming time to suit the trends of the times, especially develop ecosystem-oriented strategy.

The Effect of DeFi on Financial Services

The financial services sector has been largely unaffected by software and the internet. Sure, market preferences have shifted, and banks are doing what they can to balance the online experience of the increasingly personalized, on-demand internet providers to which consumers have become accustomed — but business models have not.

This is in stark contrast to the total chaos faced by many other sectors, ranging from shopping to hospitality to newspapers. The music business is the clearest indication of this, as shown by the following sales breakdown over the last 17 years:

Physical sales were practically the only way to make money in music in 2001. By 2018, subscription revenue had increased by 34% year on year and accounted for almost half of global revenue, leaving physical revenues as a longing, derelict shell of their former selves. Today’s industry leaders (Apple, Spotify, Amazon, and YouTube) were not in the music business at the turn of the century. The internet altered the music industry’s economics, encouraging new competitors with orthogonal business models to enter the market.

Business structures in financial markets, on the other hand, have not undergone a similar transition. Though FinTech systems are used by a significant proportion of retail customers in particular countries, most notably China, FinTech companies have mainly sought new niches — for example, P2P lending sites, investing, cross-border transfers, and underserved clients, such as small enterprises or individuals without a credit background — or they have collaborated with incumbents or major tech firms. Cooperation provides FinTech start-ups with customer access (via white-label, co-branded products) while reducing their regulatory enforcement burden in many situations.

As a result, incremental upgrades, such as improved user interfaces and alternative data outlets on the edges, are not strong enough drivers to unseat big financial institutions. To disrupt the financial services sector, the underlying networks must be re-architected to bear orders of magnitude less risk. Only then would an alternate business model gain enough of a strategic edge to capture a commanding market share.

Blockchains are distinct from other open source programs in that they preserve a shared state. They work as global accounting machines, processing financial transfers and storing the results in stable, public data structures. Both transactions can be validated by ensuring that a record of them exists on the blockchain. This increases the social scalability of financial systems: Since blockchain transaction parties use a shared accounting scheme, there are fewer opportunities for them to injure one another. Blockchain networks can handle larger numbers of individuals on a global scale by offering better protective assurances.

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