Carbon Reform is building the Carbon Capsule, a modular device which captures CO2, improves indoor air quality, and saves energy in commercial buildings

Carbon Reform

What is Happening? , a web3 company co-founded by Steve Wozniak (Apple co-founder), is building the first Energy Efficiency NFTs to help fund energy-efficient projects. EFFORCE These projects focus on a sustainable future by bringing a novel "Proof of Contribution" concept that underpins a new breed of utility NFTs. The Genesis NFTs are a resource for making the necessary energy efficiency upgrades to businesses, as part of the Energy Efficiency NFT initiative to meet expectations to reduce energy consumption which is crucial in today's era of climate change and Environmental, Social, and Governance (ESG). A 180 kwe combined cooling heating and power plant is the first project that will be developed by the company. This sustainable project is a part of an anonymous company's endeavours and is projected to run for more than 8,000 hours annually to meet the business's cooling and air conditioning requirements. Additionally, it will generate 1.4 GWh of electricity on its own each year. The cost is 210 USDC per NFT to fund this sustainable project. 400 WOZX (native tokens) must be locked by users for each mint of these NFTs. Additionally, the project is expected to yield rewards of 735.000 mWOZ. The second project is an Energy Efficiency Project (EEP) for an anonymous company that will supply 60% of the power required by a sewage treatment facility. Additionally, it will provide heat to a sludge drying plant, reducing the weight of the discarded sludge by up to 80%. The projected earnings from that endeavour are $665,000 mWOZ. This model helps to fund sustainable projects where companies can build sustainable projects via funds raised from NFT or token issuance. : Vested Interest Disclosure The author is an independent contributor publishing via our . Be it through direct compensation, media partnerships, or networking. The author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR brand-as-author program What is EFFORCE? To democratise access to energy efficiency projects, has developed the first platform utilising the power of blockchain technology. EFFORCE was founded by Steve Wozniak, Jacopo Visetti, Jacopo Vanetti, and Ken Hardesty. They have worked in the field for over a decade each on the premise that consumers don't need to alter their energy consumption habits to reap sustainability benefits. EFFORCE Understanding the Importance of a Sustainable Future in the Face of Climate Change According to , the blockchain technology industry is projected to reach $4.94 billion by the year 2030 ( ). The latest emphasizes the critical need for a worldwide energy transition by 2030 to achieve net-zero carbon emissions and keep global warming below 1.5 degrees Celsius. Fossil fuels must be used much less frequently and cities must run widespread sustainable electricity supported by renewable energy sources to ensure energy efficiency and prevent a climate catastrophe. estimates excluding publicly traded cryptocurrencies Intergovernmental Panel on Climate Change (IPCC) report In are already struggling to adapt to the changing climate and shrinking ice, threatening their way of life. About one-tenth of the four million people who live in the Arctic, including indigenous groups like the Inuit, Saami, and Chukchi, are at risk due to the region's warming at a rate roughly twice that of the rest of the world. Nunavut, Canada, Inuit hunters Further, in the United States, extreme weather has caused widespread power outages and destructive storms that have disabled large swaths of the country's ageing power grid. Between 2015 and 2020, the frequency of extensive blackouts is expected to increase by over 60%. Due to this, focusing on protecting our environment is critical for the survival of mankind and using cryptocurrencies and NFTs as an alternative mode of finance can help green companies establish sustainable projects to raise money and build projects that help our environment. The Importance of Sustainable Development for the Cryptocurrency Industry According to the maintained by Cambridge University's Centre for Alternative Finance, Bitcoin mining consumes more energy annually than either Malaysia or Sweden. This is a massive concern for environmental activists and the cryptocurrency industry alike. There are growing efforts to make cryptocurrency mining more environmentally friendly in response to rising public concern about the industry's energy footprint. Bitcoin Electricity Consumption Index For instance, the Ethereum Foundation that after Ethereum 2.0, energy consumption will be cut by 99.95 percent. This is an excellent example of how the cryptocurrency industry can try to reduce its carbon footprint and develop solutions that protect the environment and increase our economy's sustainable development. predicts Renewable energy expansion, improved energy management practices, and carbon offsets are all examples of how we can reduce carbon emissions. Tokenized carbon credits which trade via blockchain applications are a novel use of technology which can help minimise market inefficiency and help in carbon reduction. TRG Datacenters widespread reform in using existing cryptocurrencies and developing new ones that are more environment-friendly and sustainable. predicts To decarbonize the industry and reach net-zero emissions from the power consumption associated with digital currencies by 2030, the Crypto Climate Accord has been signed by more than 45 companies and individuals in the virtual currencies, financial services, electricity, and technology industries. Using cryptocurrencies such as utility tokens and NFTs to fund environment-based projects can disrupt how green companies can raise finance from the open market to fund sustainable projects. These initiatives are a step in the right direction which removes the stereotype around cryptocurrencies and blockchain technology being bad for the environment and instead focuses on using blockchain as a means of technology to leverage the development of sustainable projects. Final Thoughts on Funding Sustainable Projects via Crypto In my opinion, using tokens and NFTs to raise finance for developing and building sustainable projects is critical for both the cryptocurrency and environment industries. Novel ideas that help green companies fund their renewable energy projects via funding in crypto can help companies when they cannot seek capital from investment funds or venture capital firms. Further, this can bridge the gap between the cryptocurrency industry and environment activists where the latter sees the minimal application of blockchain technology which can help the environment. However, based on projects like these, we can see that this is not the case and blockchain is indeed an instrument that can help build a sustainable future for mankind. Don’t forget to like and share the story! and . Noah Buscher Tyler Casey

Apple Co-Founder Steve Wozniak is Developing Energy Efficiency NFTs

Our current efforts to solve climate change suck and also don’t suck enough. In this piece I have collated some research on sucking carbon out of the air, carbon pricing, Australia’s current renewable plans and carbon consumption habits. I recently watched the ABC TV show starring Craig Reucassel from , two shows with great values investigating if and how Australians are making an environmental difference. It seemed like the methods he looked into were just about keeping the peace and wouldn’t actually change the status quo. I enjoyed the format and Craig’s wit especially when he challenges politicians and company owners to do better. I think both shows fall short in keeping the focus on reforming businesses which use plastic and fossil fuels. He chose to follow households and see how they can make personal lifestyle changes instead. Unfortunately I think this feel-good morale inflates the idea that small changes can make a huge difference. The only issue is the changes mentioned like having a shorter shower, recycling and making cows eat seaweed really compared to large lifestyle shifts like a , though he does touch on living without . Localising the issue to our behaviour also contributes to the delusion that we can solve the problem by doing little things and shifts the cause away from plastic and fossil-fuel industries. But I do get the purpose is to feel empowered when it’s so often easy to feel helpless in regards to global issues. Fight for Planet A The War on Waste won’t make a big difference plant-based diet fossil fueled transportation Besides lifestyle changes, we can utilise community action groups and take class action lawsuits directly against politicians, organisations and governments. Recently, six Portugese youth against 33 European countries for putting their lives at risk by failing to reduce emissions. Similarly, five American states have filed against oil and gas corporations for the “havoc they knowingly wreaked”. This is the kind of activism we need most. Stop telling a story of how it’s up to individual people to make a difference in their lives by recycling and using less electricity and start telling the story of shitty businesses and corrupt governments. filed a climate lawsuit climate change lawsuits Recycling as a major public goal continues the idea that if we only recycled better, we wouldn’t have a waste problem. With climate change, it’s the same, fossil fuel companies emit carbon gas waste into the atmosphere and then tell us to use better heating. Plastic companies frame recycling as the solution so they can keep selling and using cheap packaging instead of the more expensive compostable packaging. South Australia is on the right path with a recently-passed . It includes the ban of single-use plastic products and will commence in 2021. waste avoidance Bill The plastic and fossil fuel industries have conned us into thinking that the solution is in recycling and reusing their products. It’s not. That message perpetuates the problem. We’re desperately struggling to reduce emissions and use renewables instead of banning and preventing the cause. Governments allow this to happen because cheap fuel and packaging make a country appear like it’s succeeding in terms of financial growth. Australia’s commerce involves the supply of some of the worst assets you can trade — coal, live animals and gas. Livestock causes the destruction of in Eastern Australia. 1500 football fields of forest every day Australia is heading in a fatal direction with “ ”, a financial campaign led by Scott Morrison with a misnomer for a name. It makes no sense to be spending money on natural gas companies when the government has already found — in its own research — that . This way it would use current pipelines to prevent expenses of new infrastructure and be a cleaner energy source for industrial processes like green steel. Even in Australia’s new $1.9 billion , they point to fossil-fueled hydrogen, factory-produced carbon capture instead of funding renewables and environmental R&D. This roadmap is a guise to reduce scrutiny and keep funding corrupt industries to profit from fossil fuels. The Australian government is often run by politicians who care about getting rich at any cost even if it means continual and the commitment of crimes against nature such as the destruction of and . gas-led recovery hydrogen should replace natural gas low-emissions technology roadmap suppression of environment research The Great Barrier Reef heritage sites Clean hydrogen is also not the solution, as it requires renewable energies to power its extraction from H2O through electrolysis. It’s also than electricity as a fuel for transport. (See this for a quick breakdown on hydrogen.) It would be better to like subsidising electric car prices and puting free electric vehicle charging stations around the country instead of to industrial companies. four times more expensive Real Engineering video support electric car iniatives trying to increase our GDP by exporting hydrogen We need to think globally, scientifically, and economically about the main cause of climate change: the exponential growth of the human population alongside the rise of fossil-fueled industrialisation. Let’s look at methods to reduce carbon in the atmosphere by three underrepresented alternatives. These methods aren’t about finding one solution — they all matter. But let’s talk about methods which could actually counteract the consumption habits and production of fossil fuels and reduce the global temperature by two degrees celsius. 1. Carbon Removal Methods Carbon removal methods are like the upkeep of the Earth’s hygiene by cleaning the harmful greenhouse gases from the atmosphere. I’m not talking as much about the carbon capture and storage of fossil fuels from coal, oil, and gas factories. Those carbon capture strategies should definitely be used by carbon-producing industries such as fossil fuel plants, but clearly, it would be better not to have those industries in the first place. I’m referring to carbon removal through climate engineering methods. Global warming is created from the sun’s radiation getting trapped inside the increasingly carbonised spherical roof in our atmosphere. Until we convert entirely to carbon-neutral or carbon-negative emissions in our business and personal practices, we’ll continue to burn fossil fuels by driving, using electricity, heating and eating, and the planet will get warmer, causing innumerable disastrous climate effects. The earth already captures carbon incredibly well through photosynthesising lifeforms and inorganic mineral collection. The development of carbon capture methods is just beginning and the methods are either improving the natural ways our planet sequesters carbon or building machines that collect and convert efficiently. The first is cheap and easy, and the second is currently expensive but getting cheaper and more effective . It’s one of many solutions to global warming we need to pursue. Direct air capture methods imitate what trees and photosynthesizers do naturally by capturing carbon dioxide out of the air. Current carbon capture technologies can do the work of and that’s fully grown trees. Planting trees is a slow process and we need to work fast in order to plant enough, which may not be possible given how long it takes for them to work effectively. Trees are also deforested at an alarming rate thus losing all their work of decades of carbon sequestration. They’re also burned when a fire rampages through a forest and their . Ironically, fires are more likely to happen because of global warming and not having enough trees. We need a change in mindset from short-term gains to long-term foresight. 40 million trees stored carbon is depleted Klause Lackner’s team at the Center for Negative Carbon Emissions in Arizona have developed carbon capture trees which and are increasingly cheaper, currently at $94USD per square ton of carbon removal. work 1000 times faster than a natural tree Others propose a more direct through the photoelectric chemical conversion of CO2 into oxygen and energy. However, current models deem it . Similarly, look cool and use artificial photosynthesis but they’re . artificial photosynthesis expensive these trees not scalable CO2 O2 Faux trees convert to . Image from phys.org A major benefit of capturing carbon is being in control of how it’s stored and converted. If we convert carbon from CO2 into calcium carbonate pellets, we can use and store them more efficiently. One method that has incredible potential is . It is a technique that can convert any type of carbon into the extremely useful graphene. Graphene can be used to strengthen concrete by 40% with only 1% of it in the mixture. Graphene can be used to make green concrete which is stronger than regular concrete by . These breakthroughs can convert carbon into reusable technology instead of the likely . flash graphene 34% with only 0.07% of graphene in the mixture unsafe, and costly process of geological carbon storage A cheap decarbonisation method is coating mountain rocks, roads and roofs to capture the CO2 brought down by rain and storing them in the calcium carbonate composite. Another extremely promising method is : essentially feeding nutrients to the phytoplanktons which use photosynthesis like plants to convert sunlight and CO2 into oxygen and/or excrement. Ocean fertilisation has been an excitingly cheap and simple solution to implement. We need to give more credit to these oceanic microorganisms. In fact, they are the critters that created our breathable ozone in the first place, not trees. They’ve been working since the beginning of life on this planet and fertilise all land and life — it’s the ocean we need to work on more than anything, as it sequesters the majority of carbon. with olivine ocean fertilisation We’re focusing on strategies which only account for 20% of emissions while 80% of the problem remains. Ocean fertilisation is potentially the best all-round solution to a negative emission technology. The nine mechanisms which marine vertebrates play roles in the oceanic carbon cycle. , GRID Arendal CC BY-ND Ocean fertilisation will need to work in coordination with deacidification. We’ve lost incredibly healthy and foundational phytoplankton on a global scale of . I recommend on some further innovative strategies including Steven Gillet’s talk on past methods and new nanotechnological solutions for carbon and silicates including deacidification. 1% per year this playlist Carbon capture is necessary but not sufficient and improving old methods like ocean fertilisation is just the beginning. We may need to consider bioengineering new phytoplankton through the use of gene drives in order for them to out compete larger microorganisms and prevent harmful algae blooms from occurring. Tracking can also be undertaken through the use of satellites to see the ocean and atmospheric changes and make adjustments to the bloom areas. There’s no natural way out of this. We shouldn’t be afraid to change the planet through these climate engineering techniques, as we’ve already drastically and irredeemably changed earth in the last century. We need to make up for our mistakes, as sustainability is no longer sufficient. 2. Carbon Pricing Increase Many countries already have a price on carbon. The countries with the highest price on C02 per metric tonne have had great reductions in their emissions and the countries that delay carbon pricing are only increasing how much the tax will need to be, as climate change gets worse, according to . The challenge is enforcing it upon the companies that pollute the most and using carbon pricing as a deterrence scheme. It would be excellent to supplement carbon pricing with a plan to change energy practices altogether, like the , which outlines a way to supercharge the economy through developing renewable infrastructure and technologies. IPCC and the World Bank Green New Deal Canada has a similar to Australia’s, except in Australia, industrial polluters can emit up to a certain amount of carbon on the safeguard mechanism and then . Australia is going in the opposite direction of the pledge made in to reduce emissions by 28% by 2030. The Australian government is one of the worst countries in the world in their action to mitigate climate change according to the . even say a carbon price of $111 per tonne of CO2 still wouldn’t be high enough to meet our Paris agreement targets. Britain has been of $25 a ton and led electric utilities to switch away from coal and to cleaner solutions. Australia doesn’t currently have a roof or a floor price on carbon. pollution pricing program just buy credits as compensation the Paris Climate agreement Global Energy innovation Index Estimates successful in using a carbon price floor Graphic By Ranamode — Own work, via wikimedia CC BY-SA 4.0 One suggestion is to to incentivise people to save money by converting to greener technologies. Likewise, renewable energy companies like electric vehicle manufacturers and solar power plants should be subsidised so they become cheaper. reduce the price on renewable energies If carbon capture methods cost approximately $100 USD per metric tonne of CO2 then we need to adjust our carbon tax accordingly. The tax fund could be distributed to the top climate change solutions and most effective methods should be getting more of the funding. Carbon pricing works, according to by researchers from Australian National University . It showed countries with a carbon price reduced their emissions by 2% per year and the countries without a carbon price increased their emissions, on average, by 3%. a decade-long study Carbon price vs no carbon price in 142 countries. Best, Burke, Jotzo 2020 We can also tax the carbon footprint of everyday life as well as pay people for being carbon negative. This can be achieved by simply subsidising renewable energy companies instead of fossil fuel companies. If we did get taxed heavily for the carbon we emit and got paid even more for the renewable energy we produce by living a carbon negative life, we could save a lot of money. And wouldn’t that be a nice motivator to change to a more ethical lifestyle? 3. Carbon Consumption Prevention Having one fewer child prevents the most carbon from being consumed out of all the individual lifestyle choices we can make. Creating one person amounts to 60 tonnes of carbon emissions each year and has led to awareness campaigns such as Vancouver’s . One Planet One Child Stopping a wealthy person’s carbon footprint by having one or no children is the single greatest action you can take to offset your carbon emissions over a lifetime. outside of donating tens of thousands of dollars In terms of as a contributing factor of climate change, it’s important to note that it’s predominantly developed nations and rich households who have . Not developing nations like in Asia and Africa where are happening. overpopulation 86% of the worlds CO2 emissions 118 million births out of the global 140 million annual births Graph from Our World in Data CC BY SA 4.0 In developed nations like Australia, we should not be offering monetary incentives to have children. Despite people’s fear of the , automation and a global are likely going to happen to make up for the decline in the working-age population. economic implications of an aging population Green New Deal CREDITS: (GRAPHIC) J. YOU/SCIENCE; (DATA) SETH WYNES AND KIMBERLY A NICHOLAS, ENVIRONMENTAL RESEARCH LETTERS (2017 ) https://www.sciencemag.org/news/2017/07/best-way-reduce-your-carbon-footprint-one-government-isn-t-telling-you-about says we should have kids because they sometimes emit joy. Unfortunately joy doesn’t offset carbon and for many of us, kids due to the decrease in daily pleasure. Just to be clear on what our carbon habits are in Australia, here’s a graph: This article make us more miserable *Land use, land-use change, and forestry (LULUCF). Overall emission figures given, less LULUCF, total 99.9% due to rounding. Source: Department of Industry, Science, Energy and Resources The thing is, we need to do better even if we were to donate a 1000 times more than we do to offset carbon. Eating a plant-based diet has an even greater benefit than we realise after taking into account all of the carbon offsets that would happen as a consequence of reducing animal agriculture — say that this shift alone could limit our warming to 1.5°C. Once you factor in all the forest regrowth and enormous stop on deforestation for animal grazing and animal feed, less farm-to-table travel, less animals burping and the fact that as CO2 you realise the enormity of the problem and the easiest solution: don’t eat animals. estimates methane is 28 times as potent These discussions need to be had to influence our cultural understanding of why the destruction of our planet continues. We need to truly consider altering our carbon footprint and to talk about the industries, governments and businesses that are the root cause. Our small habit changes in our daily life aren’t the larger and only solution. Push for reform and don’t settle for a slow destruction of our planet for future generations. We should switch our diet, our electricity, and our car to renewables. But most importantly, let’s switch our thinking from ethnocentric profiteering to global and systematic accountability for a sustainable future and make our governments do the same. Subscribe to my newsletter for the latest blogs Previously published behind a paywall at: https://medium.com/predict/altered-carbon-footprint-94b4e3317034

Three Effective Strategies to Collectively Alter Our Carbon Footprint

Image via Fast Company After a 12-month long project, Allbirds and Adidas have unveiled their collaborative creation, the Futurecraft.Footprint Performance Running Sneaker. The two brands have reimagined the possibilities of sustainable footwear by creating a product that has the least amount of impact on the planet possible. Per pair, the Futurecraft.Footprint measures out at which makes it the sneaker with the lowest carbon footprint in comparison to any performance runner ever. 2.94kg CO2e When speaking about the collaboration between the two brands, Jad Finck, Allbirds Vice President of Innovation and Sustainability, claims the industry is “focused on the wrong race.” While many companies focus on brand to brand competitiveness, the true focus should be on earth. Furthering his statement, Finck recognized that “the status quo isn’t doing enough to help the planet. Let’s take this race and make it a race to the lowest carbon shoe possible.” Let’s Talk Carbon You can’t have a conversation about sustainability without hearing the word “carbon”.  So ? Carbon emissions fall under the category of greenhouse gases which are a leading cause of global warming and climate change. The fashion industry accounts for about of global carbon emissions. what exactly does it mean 10% Thankfully, as the conversation around the need for sustainable change in the world of fashion grows, many brands are taking necessary strides in order to reduce their carbon footprint. Adidas, Allbirds and the Futurecraft.Footprint are leading the way for the sneaker industry. Image via wired The Collaboration While the two brands are competitors, they both represent different areas of the market. Adidas are experts in high-performance running shoes, whereas Allbirds puts focus on creating eco-friendly products. Initial plans were for Allbirds to bring their natural materials to Adidas product construction but Sam Handy, Vice President of Design for Adidas Running, made clear that in the end the collaboration is a true blend of both brands. Handy explained, “In practice, it became collaborative with both sides reworking, bouncing sketches … We had the Allbirds team drawing on performance aspects and Adidas working on materials. It became much more collaborative than we anticipated in the beginning.” The brands started by assessing the already sustainable-minded Adidas performance running shoe, the Adizero RC3, looking at its materials, life cycle and pre-existing carbon footprint. While yes, the RC3’s carbon footprint was lower than the average running shoe, it still measured at per pair. By analyzing the brand’s previous take on an eco-minded runner, they were able to recognize what needed to be improved. 7.6 kg CO2 Self-developed Materials The material of the shoe is what drives the high carbon emissions. For the Futurecraft.Footprint, both the Adidas and the Allbird teams developed completely new concepts and materials to ensure they would meet their desired goal of producing a shoe with the least amount of impact on the planet possible. Two textiles were created for the upper portion of the sneaker. This fabric is made up of Adidas Prime Green recycled polyester and Allbirds’ natural Tencel derived from wood pulp. The midsole uses Adidas Lightstrike mixed with Allbirds’ sugarcane-based SweetFoam. The combined expertise from both brands, allowed for the creations of a lightweight textile with a reduced carbon impact  that doesn’t lose out on performance abilities 70% 30% Gif via https://blabhkm.com/ The Process The reworking fabrication process is just as important as updating the materials, as the shoemaking process itself represents a large portion of the sneaker industry’s carbon footprint. Typically sneakers would use a one-piece upper which often leaves waste. This waste counts against the carbon footprint. For the Futurecraft.Footprint, the production team created a style where the extra fabric would be embroidered onto the shoe, which in the end strengthens the upper of the shoe for running while also eliminating waste. The rubber used for the shoe was designed to be void of any carbon-rising additives. Every aspect from material to production was designed to reduce carbon and create as little waste as possible. It’s More Than Just The Shoe Adidas and Allbirds didn’t stop with just the shoe. The companies reformed multiple aspects in order to lower their own carbon footprint – shoe aside. They also updated the . packaging The shoeboxes were redesigned to reduce weight and fit more shoes in a single carton to lower the amount of fuel needed for shipping. The fuel itself used in ocean shipping is made from recycled cooking oil. Renewable energy was created by making the sneakers, this energy was used to power the factories Adidas and Allbirds partnered with. This collaboration is so much more than just the shoe, the two brands are doing what they can to challenge the ongoing climate crisis, even in the smallest ways possible. Image via Fast Company Where Can We Go From Here? Sustainability can be a daunting topic but projects and collaborations such as the Futurecraft.Footprint sneaker can lead change within the industry. Finck celebrated the project’s success by saying “We are incredibly excited about it. It was a moon shot to begin with. Hopefully, it inspires both companies to keep going faster.” The Futurecraft.Footprint started with a 100-pair launch in May to be followed by a 10,000-pair release coming in fall. The two brands are optimistic for a wider release in Spring 2022.

Adidas and Allbirds Collaborate on Low Carbon Shoe

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The finance industry has been a big part of the global economy for a long time. It is one of the most essential and influential industries in the world. With the advancement of technology and globalization, finance has become even more important and complex. The industry is under pressure from technological change, regulatory reform, and shifting global economic powerhouses. Despite the challenges, the future of finance looks bright. The industry is adapting and evolving. There are opportunities for those who are willing to seize them. Here are ten predictions about the finance industry in the coming years: 1. Technology will Transform Finance Technology is already reshaping finance, and the pace of change will only speed up. In the past, financial transactions were slow and cumbersome. Today, we can do it in an instant with minimum fees. Innovations like blockchain and mobile payments are here to stay. Moving along with technology, finance will become even more efficient and convenient. Financial services will be delivered faster, and new products and services will be created to meet the needs of a digital world. Technology is playing an important role in the finance industry. From mobile banking to automated investing, technology is making finance more convenient and accessible. We can expect to see even more use of technology in the years to come. 2. We will see (yet) More Automation Technology is becoming more sophisticated and capable of performing many financial tasks that have been done by humans. This includes tasks such as processing transactions, managing investments, and providing customer service. As technology gets better and cheaper, it is likely that more and more jobs in the finance sector will be replaced by machines. 3. More competition for Everybody The financial industry is becoming more competitive. Traditional financial institutions are facing increased competition from fintech startups and lenders. This is likely to lead to more innovation and better products and services for consumers. The finance industry faces some challenges, but there are also many opportunities. Those who are willing to embrace change will find themselves well positioned for success in the next years. 4. Regulation will increase The global financial crisis of 2008 led to a wave of regulatory reform, and finance is still feeling the effects today. Regulators and policymakers are now more focused on preventing another crisis They are paying closer attention to the activities of financial institutions. This heightened scrutiny will result in more rules and regulations for the finance industry. 5. Business Will Support Greater Transparency There is a growing demand for transparency in the finance industry. Financial institutions will need to provide more information about their products and services. The finance industry has been accused of being reckless and irresponsible, with a focus on short-term profits rather than long-term stability. This culture was one of the factors that led to the global financial crisis, and there is a risk that it could cause another crisis in the future. It could lead to even more regulations being introduced, which would further damage the industry's prospects. 6. Emerging Economies will Rise The rise of BRICs and other emerging economies will change the landscape. The United States has been the dominant force in the global economy. This is changing, as China and other emerging economies get stronger. These countries will have a major impact on the finance industry. China is already the world’s largest market for foreign exchange trading, and its importance is only going to increase. 7. Sustainability Pressure The finance industry is under pressure to address the issue of sustainability. Investors are interested in putting their money into companies that are doing good for the environment and society. Finance companies will need to find ways to finance the transition to a low-carbon economy as the need to address climate change becomes more urgent. 8. Inequality will Increase The finance industry has been criticized for contributing to inequality. There is a growing problem of inequality in the finance industry, with a small number of wealthy individuals controlling a large amount of wealth. High salaries and bonuses of bankers and traders have made the industry a target for public anger. In the future, finance will need to find ways to address this issue. It will need to redirect some of its profits to social causes or create new products and services that help to close the gap between the rich and the poor. 9. New Products will be born The finance industry is evolving and changing. New financial products and services are being created all the time. In recent years, there has been a huge growth in alternative finance, such as peer-to-peer lending and crowdfunding. This is one example of how the finance industry is changing and adapting to new opportunities. Nobody predicted NFTs. 10. The Bubble Will Blow up There are also some concerns that the finance industry could be heading for another bubble. This is because there has been a lot of money flowing into financial markets in recent years, as investors seek to make money from rising asset prices. If asset prices start to fall, this could cause major problems for the economy as a whole. So, what does the future hold for the finance industry? We will see how things will develop over the next few years but it is clear that this is an industry that will continue to play a vital role in our lives. Note: I usually just write technical articles. But I am committed to writing one monthly piece out of my comfort zone.

10 Predictions About the Future of Finance

With predictions about crashing markets and how the pandemic will plunge the world which is preceded only by the aftermath of the Second World War, in 2021 people were letting go of their fixed assets and liquifying them into modern investments: cryptocurrency. into a recession Cryptocurrency will Take a Turn for the Better One of the biggest issues that crypto-trading faces is the high carbon footprint that is associated with Bitcoin mining. Given how much more environmentally conscious the younger generations are and often let drive their consumption, the crypto industry will have to change how to fix this problem if they want to grow to become as ubiquitous as it has the potential to be. According to new research led by Frankfurt School Blockchain Center, Bitcoin transactions can be offset by purchasing emission allowances from the ETS, or European Emissions Trading System at $18 USD per transaction. Holding Bitcoins can be offset at $100 USD per year. However, it is predicted that prices for CO2 emissions will only increase as the trend continues, especially if it becomes a new regulation to owning Bitcoins. sustainability In the beginning, Bitcoins were easily mined with personal computers, but as the process of mining Bitcoins was designed to be halved once each milestone or quota was met, the performance requirements to mine Bitcoin became much more demanding and miners needed to increase their energy consumption and GPU mining became the norm. Over time, mining pools emerged and companies were established for the sole purpose of mining Bitcoins. According to a reputable Bitcoin mining source, the energy consumption rate jumped by a factor of a hundred million in just seven years, between 2011 and 2018. This figure will only increase exponentially and today, it has grown more than tenfold, and has reached over 156 EH per second, which amounts to 15.6 billion operations per second. the mining hashrate Fortunately, regulations have been put in place to regulate the mining industry and China no longer supports Bitcoin mining, which will ease energy consumption rates. Furthermore, those that continue to mine Bitcoin are looking towards renewable energy sources and utilizing sustainable energy sources such as geothermal or solar energy, which leads to the prediction of a greener future for the mining industry. More Cryptocurrencies will join the ranks of Bitcoin Upon the successes that Bitcoin was able to achieve, more cryptocurrencies were developed and released to the public. Today, there are over 2,000 cryptocurrencies that are competing directly with the pioneer, with Ethereum being one of the most popular. Statistics and predictions show that even more cryptocurrencies will join the foray for a slice of the . While Bitcoin started off as a decentralized and unregulated currency, which was what made it so appealing in the beginning, more and more users are beginning to call for reform and for governments to step in for institutionalization and support. cryptocurrency pie From bitcoins to , this has gone on to spawn e-wallets and credits, which has become widely used around the world, especially during the pandemic when going cashless was deemed much safer than traditional transactions. dot usdt Fighting the Pandemic with Blockchain In that vein, blockchain technology is believed to play a hand in helping halt the spread of the virus by implementing a vaccine tracking system. Since vaccine management is still in development, concerns of fake vaccines are a major concern for people all over the world. As blockchain technology is practically tamper-proof, it could serve to be an ideal platform for vaccine verification, and along with it, the tracking and distribution of vaccines all over the world. According to 101 Blockchains, another promising highlight of blockchain's future in 2022 is that “manufacturing and distributing COVID vaccines would be the verification of vaccine integrity at different points in the supply chain.” They go on to explain how the technology can ensure consistent storage of vaccine batches at the right temperature in order to retain its integrity. IBM has successfully developed a system that leverages blockchain technology to aid with coordination between different agencies and among healthcare providers who are tasked with vaccine distribution. The system combines the documentation of “vaccination rates and efficiencies from different platforms and tools used by healthcare authorities and agencies.” This means that healthcare authorities can quickly detect which vaccines or batches may have caused higher rates of side effects, or which were most successful in preventing the infection of Covid-19, all of which plays an important part in helping us curb the spread of the coronavirus and putting the pandemic to rest. From bolstering the economy during troubled times to providing aid to managing the pandemic, Bitcoin and the technology that came with it is a God-send and will continue to be optimized into the future and beyond.

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