Ethereum change cut cryptocurrency power demand
A change in the way the cryptocurrency Ethereum works may have cut its power consumption by country-sized amounts.
The amount of electricity saved is similar to that used by Ireland or even Austria, work published in the data-science journal Patterns suggests.
Bitcoin, the largest crypto, is thought to use more electricity than Finland.
It has even been suggested emissions from Bitcoin could exceed the global savings currently made by driving electric vehicles, the article notes.
Like all cryptocurrencies, Ethereum relies on a blockchain, a giant, constantly updating database, logging every transaction.
Previously, this was maintained and verified by a system called Proof of Work, used by many cryptocurrencies, including Bitcoin.
Companies and volunteers whose computers helped to run the network were rewarded with new cryptocurrency coins.
The more work they completed, the greater the chance of creating new coins.
This encouraged businesses to set up massive warehouses of computers running 24-7, often on energy derived from fossil fuels, the article suggests.
But on 15 September, in an event known as The Merge, Ethereum switched to a system called Proof of Stake, where the chance of creating a new coin no longer depends on the amount of computing work completed.
The technical complexity of the switch was compared to rebuilding a skyscraper's foundations while it remained standing.
But it cut Ethereum's electrical energy consumption by at least 99.84%, the peer-reviewed "perspective" article suggests.
The Ethereum blockchain also supports hundreds of millions of dollars' worth of other coins and crypto products such as non-fungible tokens (NFTs).
But the paper's author, Alex De Vries, a data-science and economics researcher at Vrije Universiteit Amsterdam, in the Netherlands, warns the computers may simply have switched to creating other cryptocurrencies.
In September 2022, the White House Office of Science and Technology Policy said legal limits on energy-intensive cryptocurrency mining should be considered.
Mr De Vries said: "The Bitcoin community has been very anti-change - but the Ethereum community has shown that despite concerns and resistance, it is possible to make the necessary changes on a live blockchain, which means that the Bitcoin community may need a little bit of a nudge from the outside to actually make things happen."
Source-BBC
Morgan Stanley bank to cut 1,600 jobs
Bank Morgan Stanley is cutting about 1,600 jobs or roughly 2% of its global workforce, joining other big banks in making reductions as the economy slows.
The news comes after chief executive James Gorman warned that the bank would see "modest" job losses.
He cast the downsizing as a predictable outcome after several years of rapid growth.
Goldman Sachs bank is among the others making cuts in the sector, which is also bracing for smaller pay bonuses.
Payouts on Wall Street are expected to fall more than 20% this year, after hitting a record in 2021, said New York city government officials in October. The average award in 2021 was more than $250,000 (£205,000).
Banking is among the sectors most vulnerable to slowing down as central banks around the world make borrowing more expensive by raising interest rates, in a bid to reduce demand for loans, and ease the pressures pushing up prices.
At a banking industry conference on Tuesday, Goldman Sachs boss David Solomon warned about the economic outlook.
"Economic growth is slowing," he said. "When I talk to our clients, they sound extremely cautious."
The US economy has so far fared better than expected as consumers continue spending, buoyed by a strong jobs market and savings leftover from the pandemic.
But rapidly rising prices are eroding business and households savings, which could eventually "derail" the economy, Jamie Dimon, head of JP Morgan Chase, told broadcaster CNBC on Tuesday.
Credit Suisse in recent weeks said it planned to shed 9,000 posts over three years, part of a wider restructuring, while Barclays and Citigroup are among the other banks said to be making reductions.
Morgan Stanley, which has made a number of acquisitions in recent years, employed roughly 82,000 people globally at the end of September, up from 75,000 a year earlier.
Source-BBC
Turks and Caicos Islands Community College celebrates 27th annual graduation
The Turks and Caicos Islands Community College celebrated its 27th annual graduation ceremony under the Theme “Resilience towards the Changing World of Work through Sustainable, Innovative and Quality Education and Training”.
Nine students made it to the Dean’s List, obtaining an overall GPA of 3.5 and above at the end of their programme.
1. Danae Dennie Associate Degree -Tourism Management
2. Raymond Kendall Associate Degree - Automotive Engineering Technology
3. Natalia Noyes Associate Degree –Science
4. Brinei Jones Associate Degree –General Studies (Humanities)
5. Angdwina Smith Associate Degree –Computer Science
6. Glodeeka Moultrie BSc. Business Administration (Human Resource Management)
7. Dominique Elliot BSc. Business Administration (Finance & Management)
8. Kandi Selver BSc. Business Administration (Human Resource Management)
9. Shicora Harvey BSc. Business Administration (Human Resource Management)
Ms. Glodeeka Moultrie, Valedictorian of the Bachelor Degree Programme, in her address, remarked: “It's the beginning of a future with promise. It's now time to build. Build a culture of hope and success not only for ourselves but for a generation that depends on our leadership to survive.”
Ms. Danae Dennie, Valedictorian of the Associate Degree Programme commended the College for its ability to adapt to the new teaching modalities used during the Covid-19 Pandemicand expressed appreciation for the quality teaching and learning experience she obtained at the College.
Hon Rachel Taylor, Minister of Education, Labour, Employment and Customer Service, graduation message asserted that the “Success in reskilling and upskilling the labor force of the Turks and Caicos Islands will be heavily dependent on the way we chart this institution, making the TCICC our students’first choice”. Honourable Taylor also charged the graduates to be lifelong learners, to choose a path of service, and to be community oriented.
In the 28th year of the College’s existence, the facility has embarked on theblended and online learning models to offer programmes to students across the Turks and Caicos Islands. The College offers several levels of certification, which include the Certificate, the Associates degree, and the Bachelor’s Degree, and for the first time, Prior Learning Assessment Recognition (PLAR).
Congratulations Graduates, we wish you well on your future endeavors.
The Apple Car "Project Titan" Reportedly Is Delayed
Apple is no longer on track to publicize Project Titan in 2024 as previously speculated and rumored, but instead has been delayed to sometime closer to 2026, "according to people with knowledge of the matter," Bloomberg offers.
The report suggests the project has shifted from a target of launching a limousine-like car with full Level 5 self-driving capability to a "less-ambitious design" that now includes a traditional layout, with a steering and pedal interface with a driver's seat, according to Bloomberg's insiders.
The reported plan is to launch a car, an all-new industry of manufacturing for Apple, in North America before expanding further, which would be capable of letting drivers yield control to the car and conduct other tasks in specific scenarios, like on a freeway in clear weather. It will limit self-driving takeover to highway environments like other Level 2+ and future Level 3 systems from other automakers.
Canoo's former CEO Ulrich Kranz is the design lead, Tesla's former manager Stuart Bowers is leading the software development, and Ford's former executive Desi Ujkashevic is leading safety engineering, regulations, and testing, among a slew of other traditional OEM and startup alumni, according to Bloomberg.
The report also says that Kevin Lynch is still the current leader of the "Apple Car" team of about 1,000 workers, who was previously responsible for the launch of the Apple Watch—another scenario where the tech company entered a well-established industry with a lot of veteran players. His goal is now reportedly "ensuring that a product actually reaches the market," which doesn't sound so promising.
Apple's target price has reportedly dropped from more than $120,000 to below $100,000, targeting the luxury automotive market. However, the design apparently isn't settled yet as the vehicle is still very early in pre-production, and the company has yet to source an acceptable EV platform partner and the necessary suppliers; final testing isn't expected to begin until 2025 now, though Apple continues to publicly operate a fleet of self-driving Lexus development vehicles.
Source-Motor Trend
Brazil great, Pele condition 'improving' in hospital, say doctors
Brazil great Pele's condition is improving in hospital, say doctors in Sao Paulo.
The 82-year-old was admitted last Tuesday and on Saturday reassured fans that he is "strong with a lot of hope".
It followed a report in Brazil that Pele was beginning end-of-life care after not responding to chemotherapy.
The three-time World Cup winner has received regular treatment since having a tumour removed from his colon in September 2021.
"The patient continues to show progressive improvement in his general condition, in particular the respiratory infection," said a statement from his doctors.
"He remains in a standard room, with stable vital signs, conscious and with no new complications."
Brazil players paid tribute to Pele after their last-16 win over South Korea at the World Cup in Qatar on Monday.
Decision day in Georgia
The closely watched rematch between incumbent Georgia Sen. Raphael Warnock and his Republican challenger, Herschel Walker, has come down to a Tuesday runoff.
The candidates made their final campaign pushes on Monday. Warnock was at Georgia Tech, encouraging young people to vote. Warnock made a campaign stop at the Georgia Tech campus as he tried to rally students to vote and take others with them, according to WSB.
WSB also reports Walker made a campaign swing through north Georgia. “I love you all, and we’re going to win this election and get Georgia back together because we together can make anything happen. We can win championships,” Walker said.
By Monday, nearly two million Georgians had already cast their ballots, shattering previous records for early voting.
The result of the Walker/Warnock contest has far-reaching implications for both parties, including a test of former President Donald Trump’s ability to endorse winning candidates.
Source-ABC
PM Mottley among Financial Times’ 25 most influential women of 2022
Prime Minister Mia Mottley has been featured among the Financial Times’ 25 most influential women of 2022.
The list also includes Ketanji Brown Jackson,US Supreme Court Justice; Francia Elena Márquez Mina, Vice-President of Colombia; Sherry Rehman, Climate Minister in Pakistan; Serena Williams, Tennis player; and Tsitsi Dangarembga, author and activist.
The magazine says its Women of the Year issue reaffirms every December that influence comes in many forms, by exploring achievement across cultures, industries and artistries.
“For 2022, we again commissioned entries by some of the world’s most powerful women. But we also sought contributors who could speak to their subject’s influence in diverse, even unexpected dimensions,” the magazine said.
In January, after mottley won a landslide re-election victory, she told the Financial Times that she believed in “moral strategic leadership”.
That is apparent in everything she does, making her one of the most formidable leaders of her generation.
A lawyer who trained at the London School of Economics, Mottley won her first political seat at the age of 28.
At COP26 she made clear that the failure of industrialised states to meaningfully invest to halt climate change was catastrophic for the planet. Her speech was as inspiring as it was humbling, and citizens globally were gripped.
This year her “Bridgetown Agenda” to reform the international financial system offers real, practical solutions. Her ability to speak truth to power is also apparent at home, where she oversaw the birth of Barbados as a republic, leaving its colonial past behind.
Mottley expects this term as premier to be her last; whatever she does next, the world is lucky to have her.
Source-Barbados Today
Indonesia raises alert to highest level as volcano erupts
Indonesia's Mount Semeru volcano has erupted, sending ash billowing into the sky and sparking evacuations on the country's main island, Java.
Authorities raised the volcano's warning status to the highest level, meaning its activity had escalated.
No injuries have been reported but nearly 2,000 people were evacuated from the area around the volcano.
People have been urged to keep at least 8 km (5 miles) away, as "hot avalanches" of lava poured from Semeru.
The increased threat level from three to four also means the danger threatens people's homes, a spokesman for Indonesia's Center for Volcanology and Geological Hazard Mitigation (PVMBG) told a national broadcaster.
The organization said a bridge being rebuilt after a previous eruption had been badly damaged.
Volcanic ash mixed with monsoon rain was falling on nearby villages and 1,969 people, including children and seniors, had been evacuated, the National Disaster Mitigation Agency (BNPB) said.
At least six villages had been affected, it added.
Videos of the event showed the sky turning black as a massive plume of ash blocked the sunlight.
Japan issued a tsunami warning for its southernmost islands after the eruption, but meteorologists said no tidal changes had been observed.
Mount Semeru, in East Java province, began erupting at about 02:46 local time (19:46 GMT), authorities said.
Indonesia sits on the Pacific "Ring of Fire" where tectonic plates collide, causing frequent volcanic activity as well as earthquakes.
Source-BBC
Government receives €1.4M European Union grant for project - Transitioning Towards Green Energy in the Turks and Caicos
The EU-funded RESEMBID project - “Transitioning Towards Green Energy in the Turks and Caicos Islands” - will officially launch on November 29, 2022. Implemented by the Ministry of Home Affairs, Transportation, Broadcasting, Energy and Utilities and Telecommunications Commission (MOHAT), it aims to strengthen the capacity of the Turks and Caicos Islands (TCI) for a sustainable green energy transition and to create long-term and meaningful change within the energy sector and across public systems in TCI.
The Resilience, Sustainable Energy and Marine Biodiversity Programme (RESEMBID) is funded by the European Union and implemented by Expertise France - the development cooperation agency of the Government of France and supports sustainable human development efforts in 12 Caribbean Overseas Countries and Territories (OCTs) - Aruba, Anguilla, Bonaire, British Virgin Islands, the Cayman Islands, Curaçao, Montserrat, Saba, Saint Eustatius, Saint Barthélemy, Saint Maarten and Turks and Caicos.
His Excellency, Governor Nigel Dakin, Minister of Home Affairs, Public Utilities & Transportation Hon Otis Morris and his team, TCI government officials and other stakeholders of the project will attend the ceremony of this critical project intended to significantly impact the TCI. RESEMBID officials will virtually attend the ceremony to symbolically deliver the grant fund cheque.
Ahead of the launch, Hon. Morris said he is optimistic that the project will “strengthen TCI’s capacity to transition to clean energy in support of the TCI Vision 2040. It will build on existing national strategies, take proactive steps to diversify the local economy, and support future development and climate resiliency.”
In congratulating the TCI for its initiative and progressive thinking, Programme Director, Fabian McKinnon said: “The RESEMBID programme seeks to support the Caribbean Overseas Countries and Territories (OCTs) in their thrust to deliver resilient energy services to their respective local populations – which translate into increased capacity and competency of the people to utilize and maintain innovative technologies, whilst contributing to low carbon development locally and regionally. This project completely fits the bill and we are excited to see the evolution.”
Traffic Death in Providenciales this past weekend
A taxi driver is now dead after suffering a medical emergency while transporting guests to the airport on Saturday morning…
Initial calls to the police control room around 10:06am, stated that a vehicular accident had occurred on the Leeward Highway in the vicinity of Wine Cellar. However, upon arrival on scene, police realized there was no accident, the driver appeared to have suffered from a medical emergency and was trying to pull off the road to avoid further incident.
No guests were injured or harmed, and another taxi in the area stopped to assist by transferring the guests to his vehicle and taking them to the airport.
The driver was transported to the Cheshire Hall medical center where he later died around 10:48am.
We would like to extend our condolences to the family on this sudden passing of their family member.