Electric plane coming through
Central Bank Digital Currencies (CBDC) are inevitable??
The forward-leaning morning newsletter for those
who love all things green
February 6, 2023
Topics: Tech, Google, NASA, clean energy, Heart Aerospace, digital currency, Bank of America
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😠Google's monopoly Technology companies have a new reality: share prices are plummeting, employees are leaving and thousands are being laid off, and now the world's largest search engine is facing a lawsuit. The US Justice Department and these states: California, New York, New Jersey, Colorado, Rhode Island, Connecticut and Virginia, are suing the technology behemoth over an antitrust issues.
In the lawsuit filed at a Virginia federal court in late January, they accuse Google of monopolizing the online ad market and abusing their power to disadvantage web publishers and advertisers. They also claim that Google uses its large footprint over digital advertising technology to direct transactions to its ad tech products. Adding that the tech giant imposes inflated fees to enrich the company at the expense of the advertisers, users, and publishers it claims to serve. Tennessee also joined the lawsuit, aiming to break up Google's advertising business and to have the tech company pay for harm directly impacting the federal government.
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🛫NASA's electric planes Greening up the aviation industry won't be easy, but NASAhas proven it is possible. The agency's year-long electric plane project, the X-57 Maxwell, will fly for the first time this year. NASA aims to demonstrate the last stage of the project to convince regulators that planes can fly effectively using battery-electric power, hoping to advance certification approaches for distributed electric propulsion in emerging electric aircraft markets. The X-57 is a modified, four-seater, Italian-built Tecnam P2006T aircraft with up to 5,000 battery cells in its fuselage. NASA said the reason it used an existing aircraft is to be able to accurately compare data from a baseline model powered by fossil fuel engines to data produced by the same model powered by electric energy.
The X-57 resembles a helicopter more than a jet. As a result, NASA added electric motors and propellers along its wings to increase its efficiency. However, the primary concern is the energy density of the batteries used. Unfortunately, we do not have battery cells with an energy density comparable to aviation fuel.
😊Better flights Greening up the automobile industry is obviously less challenging than greening aviation. Most land transports are between short distances, so driving cars powered by battery-electric makes so much sense. For long-distance travel by air, the question has been which clean/sustainable aviation fuels (SAFs) are available or in development, could effectively power flights as fossil fuels currently do?
The question has been seriously disturbing the global aviation industry because airline traffic will more than double today's levels by 2050. Startup, Heart Aerospace and others are using batteries to power short-distance planes. For long-distance travel, hydrogen fuel cells are being tested. While making these green alternatives as efficient as fossil fuels is still challenging; aviation companies are making headway against the various challenges with sustainable aviation fuels right now. We look forward to more green alternatives that can effectively replace the carbon-based fuels for aircrafts and eventually achieve the decarbonizing of the aviation industry once and for all.
👍Digital money Last year, Bank of America said that crypto holds intrinsic value. The bank is one of the few traditional financial firms in the U.S. backing investment in crypto and digital currencies. Bank of America's crypto analysts recently released a report on the potential of central bank digital currencies (CBDC), and believes that CBDC will revolutionize the global financial systems.
"Digital currencies appear inevitable," the report concludes. BofA said CBDCs could displace stablecoins, and that their adoption will increase financial efficiency and transparency. But it also noted that they might drive competition with bank deposits, which could lead to a loss of monetary sovereignty and inequality among countries globally. Presently, more than 100 central banks, including those of the United States and China, are exploring CBDCs, almost a triple increase from May 2020 when there were only 35.
Stay Curious... Who are we?
Fun question of the day: Are you comfortable with the idea of digital currencies?
Who are we?
Last fun question of the day: Are you interested in attending a live event with over 3,000 attendees soon?
25% of respondents said YES
Thanks again for being you. Until the next issue, be sure to add more green to your life!
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