TikTok being banned, a lot!
Canadians like cannabis; strong growth in 2022
The forward-leaning morning newsletter for those
who love all things green
March 13, 2023
Topics: Tech, TikTok, BofA, sustainability, Net Zero goals, cannabis, Canada, Ethereum, cryptocurrency, The Merge
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🚫Canadian TikTok ban Canada's Prime Minister announced a TikTok ban on government devices on February 28, which includes possibly blocking TikTok from downloads in the future. The country's privacy regulators are also investigating TikTok for likely misleading users when collecting personal information.
Why all the TikTok fear from governments, is TikTok a Trojan Horse?
ByteDance Ltd., the Chinese tech firm that owns TikTok, has said on several occasions that neither its employees, nor China has access to users’ information. This has been difficult for countries to believe, and their doubts are justifiable. The Chinese government requires all Chinese-owned tech companies to grant it access to their databases whenever they request it.
ByteDance even admitted that some of its staff in China could gain access to the data of European users last year. These reasons have led countries like India and the United States to restrict the social platform, and the EU commission will implement a ban by March 15.
🕥Too little too late, TikTok Safeguarding the privacy and security of teens and adolescents from social media platforms has been a concern for regulators, such as limiting the data the tech giants can obtain about children and the types of content they let kids view, as well as enabling parents or caregivers to monitor their activities online.
Last week TikTok also announced a screen time management measure. In an official post, the popular video-messaging app owned by Chinese technology firm ByteDance said accounts belonging to users younger than 18 years would be automatically set to a daily time limit of 1 hour with the option to extend it using a passcode.
Over 60% of TikTok users are under18 years old. According to TikTok, the feature aims to protect their digital well-being. Looks like they may be doing this as a reaction to the recent ban of TikTok on government devices in the EU, India, U.S. and now Canada.
Image: BofA.com GIF: AGREEN1
☺️BofA has $1 trillion goal by 2030 Bank of America Corp. said it increased its 2019 commitment of $300 billion to low-carbon, sustainable business initiatives to $1 trillion by 2030 as part of its Environmental Business Initiative. The commitment advances an environmental transition across sectors to solutions in energy efficiency, renewable energy, sustainable transportation, resource efficiency, sustainable water, agriculture, and improved forestry and pollution control measures.
The move follows the company's recent announcement to achieve Net Zero before 2050. The company also set broader sustainable development goal-focused sustainable finance target of $1.5 trillion by 2030
🍁Canadian cannabis sales for 2022 Since legalizing recreational cannabis sales five years ago, Canada's cannabis industry, both medical and adult use, has been booming at a significant rate. Sales at cannabis stores (dispensaries) in the first three months after legalization totaled CA$151.5 million and reached CA$1.2 billion in 2019.
Statistics Canada, the national statistics office, recently released reports for last year, and sales exceeded CA$4.5 billion (US$3.35 billion). The report revealed Canada made up to CA$425.9 million in December alone, much above what the cannabis data analytics firm, Hifyre IQ, forecasted.
With up to 3,700 cannabis stores and retail licenses, industry analysts expect the recreational industry’s value to reach CA$8.7 billion by the end of this decade. BDS Analytics predicts the sector to reach CA$6.5 billion by 2025. If the market meets predictions, Canada's legal cannabis market will be comparable in size to its hard liquor or wine market, according to Cannabis Business Plan.
👍Ethereum's Merge event The crypto blockchain upgrade from proof-of-work (PoW) to proof-of-stake (PoS) is called the Merge, and it was successfully achieved in September 2022. Although it attracted mixed reactions from fans, the transition made Ethereum very green by reducing its energy consumption by 99.95%. It achieved this by replacing the energy-intensive mining process with crypto staking.
The Merge is part of what Ethereum founders previously called “ether 2.0,” a series of upgrades that reshape the blockchain’s foundations. Experts initially predicted the Merge would shoot the price of ether up, but that is yet to happen. Ethereum's competitors already use was PoS and can tens of thousands of transactions in 1 second, while Ethereum processes less than 100 transactions each second.
The Surge is the next event for Ethereum, and it will be deployed in the next few months to greatly increase the transaction speed and keep its competitors at bay. According to the Ethereum website, The Surge will be followed by The Scourge, The Verge, The Purge and The Splurge, so please stay tuned!
Stay Curious... Who are we?
Fun question of the day: Are you looking at buying an EV?
Who are we?
Last fun question of the day: Did you participate in FridaysForFuture event on 3-3-23?
10% 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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