The forward-leaning morning newsletter for those
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Topics: EVs, clean energy, hemp, Michigan, crypto, BofA, BlackRock, Starbucks, Volvo, NFTs
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🔌Michigan and U.S. Midwest going renewable The Midwest grid operator, Midcontinent Independent System Operator (MISO), will invest $10.3 billion in upgrading its transmission systems to supply electricity generated from renewable sources. Its Board of Directors recently approved 18 new projects. They call it Tranche 1 and it will construct enough renewable energy to power 12 million homes and create up to 300,000 green jobs over 11 Midwestern states in the coming decade. And that includes building two new transmission lines in Michigan.
Approving the Tranche 1 projects is just the beginning, according to MISO. They look to pass two more Tranche projects by 2024. As for Tranche 1, the projects will prevent 400 million metric tons of carbon emissions between 2030 and 2050. That's simply brilliant!
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🌿Hemp Advancement Act 2022 The 2022 omnibus spending bill directed the U.S. Food and Drug Administration (FDA) to regulate cannabidiol (CBD) and the Department of Agriculture (USDA) to study the possibility of increasing the THC limit in hemp from 0.3%. The new legislation adds hope to the whole cannabis industry, particularly producers and businesses, as they look for legal clarity and institutional banking.
The legislation also sets aside funding to support the industrial hemp sector and authorizes the Financial Conduct Authority to make loans accessible to hemp producers and businesses. Partner bill, H.R. 6645 is the Hemp Advancement Act of 2022 and it specifically requested the allowable THC level to be increase to not more than 1%. The bill seeks to promote the production of hemp and hemp products, and for other purposes.
🤞Bank of America and blockchain Warren Buffet is regarded by many as the world's most intelligent investor, and he has said on separate occasions that crypto has no value. Many financial experts and policymakers believe the blockchain industry is a worthless.
Bank of America has been studying blockchains and the applications that run on them for over a year, including crypto and NFTs. Bank of America asserted that crypto and the blockchain industry generally have intrinsic value despite being unpredictable. "It's creating a whole ecosystem of new companies and new opportunities and new applications." In the near future it may help unlock your cell phone or help you buy a pair of jeans.
👀BlackRock and crypto Over the past year, BlackRock clients have been asking to invest in crypto, and it looks like the world’s largest asset manager is finally letting them. BlackRock last week entered into a partnership with Coinbase, a leading cryptocurrency platform. Coinbase will provide institutional clients on Aladdin, BlackRock’s end-to-end investment management platform, with direct access to crypto.
Both companies confirmed the partnership would launch first with bitcoin, and BlackRock said it would eventually add other cryptos.
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⚡Starbucks and EV charging Starbucks and Volvo have increased their relevance by installing EV charging stations at select Starbucks in their inaugural effort to help their consumers. Volvo EV owners will charge free. The plan is 60 DC fast chargers at up to 15 Starbucks locations along a 1,350 mile route between the Colorado front range and the Starbucks HQ in Seattle.
Volvo promises to be a fully electric car company by 2030 and the company is finding the right partners to roll with for a successful outcome.
☕Starbucks and NFTs Starbucks, leading the world’s coffeehouse business, has always been interested in transformative technologies and has even pioneered some. Starbucks is launching its own NFT community. Starbucks first pitched the plan to launch NFTs to its investors in May, when it announced its financial earnings for the second quarter of 2022, explaining that the NFTs would give their owners access to exclusive content experiences and rewards.
Starbucks did not disclose the blockchain technology it will use to create the NFTs but said the blockchain would be environmentally sustainable. The NFT collection will first comprise coffee-themed collectibles and later Starbucks art, music, books, and beyond.
Stay Curious... Who are we?
Fun question of the day: Do you understand cryptocurrency?
Who are we?
Last fun question of the day: Do you understand climate change?
100% 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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