Connect with us

Technology

US environment agency says it can regulate crypto farms • The Register

In a letter to the US Environmental Protection Agency (EPA) Monday a small group of Democrats called on the agency to enact policies designed to force US crypto-mining operations to report their annual energy consumption.

“This data is crucial, and your agencies should not have to rely on the good nature of the crypto or electric utility industries to obtain it. Indeed, the rolling series of scandals, scams, and corporate governance failures that have occurred in the crypto industry — most recently with the collapse of the crypto exchange FTX — underscores the need for strong mandatory rules that ensure the industry’s compliance,” the letter, penned by several outspoken environmental advocates, inducing Senators Elizabeth Warren, read.

The letter also alleges that the EPA has the authority to enact these reporting requirements under Executive Order 14067. Signed by President Joe Biden last March, the order titled “Ensuring Responsible Development of Digital Assets,” establishes policy under which the federal government can take actions to reduce the risk imposed by digital assets, including those concerning the climate.

In light of the Democrat’s concerns the EPA has acknowledged its authority under the executive order, with Associate Administrator William Niebling saying that the agency is examining a September report by the White House Office of Technology and Science Policy (OTSP) on the implications of crypto mining in the US and working to implement its recommendations.

While the focus of the letter from the Democratic politicos primarily focuses on crypto mining operations, it’s not too far of a stretch to see how similar rules could be extended to force more datacenters to report their energy consumption and/or meet stricter sustainability guidelines.

As it stands, most hyperscale and cloud providers usually don’t disclose the design capacity of their facilities, but it’s not unusual for a datacenter campus to consume in the neighborhood of 60 megawatts.

Senator Sheldon Whitehouse of Rhode Island, one of the co-authors of the letter, is working on a bill to address the environmental implications of both crypto mining and conventional datacenters.

And according to a recent report by analysts at the Uptime Institute, regulation on datacenters may be more meaningful. While the OTSP report estimated that crypto mining accounted for 0.9-1.7 percent of US energy consumption in 2021, analysts point out that this data is likely out of date.

The OTSP report fails to “take into account the likely impact of Ethereum mining operations — estimated to account for one-quarter to one-third of industry consumption — moving from proof of work to proof of stake.

This transition, they note, is expected to reduce Ethereum’s mining energy consumption by more than 99 percent. “Given that most, if not all, enterprise blockchain deployments use proof-of-stake validation and given the ability of proof-of-work infrastructure to move quickly to locations with minimal regulation and energy costs, much of this anticipated energy growth may not materialize.

By comparison, cloud, hyperscale, and colocation service providers continue to expand their footprints, it argues. In some cases, datacenter operators like Meta have postponed their investments to make heavier use of AI accelerators that may increase power consumption by an order of magnitude.

Senator Whitehouse’s proposed legislation would impact any public or private datacenter or crypto farm with more than 100 kilowatts of equipment to report their consumption data to the Energy Information Administration. To put that in context, 100kW is roughly equivalent to 17 standard racks running at 6kW a piece. However, for datacenters engaged in AI or ML workloads that could be as few as 15 high-end GPU servers.

Uptime doesn’t expect federal regulation of US datacenters to happen any time soon. “Legislative and regulatory processes and procedures in the US can be laborious, and final standards governing datacenter information and energy efficiency reporting are likely to remain several years away,” they wrote.

However, state-level regulation may have a better chance.  A bill introduced in the Oregon state assembly would require any person who owns or operates a datacenter or cryptocurrency mining operation to cut greenhouse gas emissions by 60 percent by 2027 or risk stiff penalties. The state has already enacted similar regulation on fossil fuel power plants in 2021.

Meanwhile, across the pond, the European Commission’s Energy Efficiency Directive, which also mandates new reporting and efficiency standards, is under review by the European Parliament. The directive should be expected signed into law this year. ®

Source link

Current

Ways Small & Medium-Sized Businesses Can Hire Big Tech Talent

In response to mounting financial concerns, tech giants like Amazon, Microsoft, and Alphabet (Google’s parent company) have recently implemented significant staff cuts. This has prompted industry leaders to reevaluate their hiring practices, recognizing the limitations of Big Tech’s ability to weather challenging economic times.

While the tech industry’s overall stability is assured, the combination of a declining economy and a previous surge in hiring has resulted in substantial job losses. However, this situation also presents an opportunity for small businesses and start-ups to tap into a pool of available tech experts.

To capitalize on this unique scenario, small and medium-sized business (SMB) owners must act swiftly to gain a competitive advantage over larger companies and attract highly skilled candidates.

In this article, John Elf, Technology Contributor at ‘Voice of EU’ and Head of Marketing at Vibertron Technologies, provides insights into some simple but effective strategies for attracting talent in a candidate-heavy market.

Small and medium-sized businesses (SMBs) can leverage consulting services to attract the best talent, just like big tech companies do. Here’s how SMBs can make use of consulting services to enhance their talent acquisition efforts:

1. Talent Acquisition Strategy Development: SMBs can engage consulting firms specializing in talent acquisition and HR strategies to help them develop a comprehensive talent acquisition strategy. These consultants can assess the organization’s needs, identify talent gaps, and devise effective recruitment and sourcing strategies tailored to the SMB’s specific industry and requirements. This strategic approach ensures that the SMB is targeting the right candidates and maximizing its resources.

2. Employer Branding and Positioning: Consulting firms experienced in employer branding can assist SMBs in developing a strong employer brand that resonates with their target talent pool. They can help SMBs articulate their unique value proposition, culture, and growth opportunities, ensuring that the organization stands out as an attractive employer. These consultants can also provide guidance on how to effectively communicate the employer brand across various channels to attract the best talent.

3. Recruitment Process Optimization: Recruitment service provider can help SMBs, same as LCEs, optimize their recruitment processes, making them more efficient and effective. Consultants can review and streamline the entire hiring process, from job postings and candidate screening to interview techniques and selection methodologies. By improving the candidate experience and ensuring a smooth and timely process, SMBs can enhance their reputation as an employer of choice.

4. Candidate Sourcing and Evaluation: Consulting firms specializing in talent acquisition can assist SMBs in sourcing and evaluating candidates. They can leverage their networks and resources to identify top talent and conduct thorough assessments, including skill evaluations, cultural fit analysis, and background checks. By leveraging external expertise, SMBs can access a broader candidate pool and make well-informed hiring decisions.

5. Compensation and Benefits Consulting: Attracting and retaining top talent often requires competitive compensation and benefits packages. SMBs can engage consulting firms that specialize in compensation and benefits to ensure their offerings align with industry standards and meet the expectations of high-caliber candidates. These consultants can provide insights into market trends, salary benchmarks, and innovative benefit options, enabling SMBs to remain competitive in talent acquisition.

6. Training and Development Programs: SMBs can leverage consulting services to design and implement training and development programs. These programs not only help attract talent but also contribute to employee retention and growth.

Consultants can identify skill gaps, design customized training modules, and provide guidance on employee development initiatives, ensuring that SMBs create a culture of continuous learning and professional advancement.

By utilizing consulting services in talent acquisition, SMBs can access specialized expertise, best practices, and industry insights that are typically associated with larger companies. This approach enables SMBs to compete for top talent on a more level playing field, enhancing their ability to attract and retain the best candidates.


By John Elf

John Elf is Head of Marketing at Vibertron GYPOTech, and an Honorary Contributor at ‘Voice of EU’. A version of this article has already been published.


Continue Reading

Current

Imandra’s AI Innovation Boosts Operational Resilience While Transforming European Exchanges

Imandra’s AI Innovation Transforming European Exchanges

Revolutionizing the landscape of European exchanges, Imandra, an AI startup at the forefront of automated reasoning technology, is making waves with its groundbreaking solutions. Offering a suite of AI-powered services through its flagship product, Imandra Markets, the company is reshaping the way exchanges and trading venues operate, test, and improve their systems.

Imandra Markets leverages advanced AI and digital twin technology to provide exchanges with tools for designing, testing, and auditing complex financial systems. This innovative approach enhances business intelligence and system resiliency, ultimately ensuring compliance and correct implementation while meeting regulatory obligations.

The significance of Imandra’s impact is evident, as its technology now supervises exchange technology responsible for a quarter of all European equities trading. By digitizing venue design and creating ‘digital twins’ powered by automated reasoning AI, Imandra Markets allows exchanges to test and enhance their system operational resiliency, mitigating the risk of outages and failed technology upgrades.

Market outages, with their far-reaching consequences, have prompted regulatory bodies to seek solutions for improving market-wide resilience. The IOSCO Consultation Report, released in December 2023, underscores the importance of addressing software-related issues, which have been responsible for the majority of market outages. Imandra’s Chief Strategy Officer, Paul Brennan, emphasizes the significance of their technology in preemptively identifying defects and inefficiencies, thereby averting potential disruptions before they impact the market.

Imandra Markets empowers organizations to implement changes to their financial infrastructure confidently, ensuring predictability and unlocking avenues for innovation and revenue enhancement. With Imandra’s solutions, newly designed or updated systems can be brought to market more efficiently, allowing for a leap forward in governance and operational excellence.

Imandra’s groundbreaking AI technology is reshaping the operational landscape of European exchanges, offering a cost-effective and efficient approach to system design, testing, and auditing. As the financial industry continues to evolve, Imandra remains at the forefront, driving innovation and ensuring the resilience and reliability of exchange systems.


We Can’t Thank You Enough For Your Support!

— By Darren Wilson | Team ‘The Voice Of EU

— For information: Info@VoiceOfEU.com

— Anonymous news submissions: Press@VoiceOfEU.com

Continue Reading

Culture

Innovative Kite Sail Technology Startup Paves the Way for Greener Shipping Industry | “EU20”

The maritime sector faces increasing pressure to reduce its reliance on fossil fuels. Recently, the International Maritime Organization (IMO) announced new emissions-reduction targets. In this piece, we will analyze:

  • Beyond The Sea’s Revolutionary Kite Sail Technology
  • A Game-Changer for the Maritime Industry
  • Expanding Possibilities and Environmental Commitments
Overcoming Challenges and Seeking Government Support

Future Opportunities

In response, startups like Beyond The Sea are revolutionizing the industry with their innovative kite sail technology. With the ability to reduce fuel consumption by up to 20%, these kite sails have the potential to transform the way ships and vessels operate.

In response, startups like Beyond The Sea are revolutionizing the industry with their innovative kite sail technology. With the ability to reduce fuel consumption by up to 20%, these kite sails have the potential to transform the way ships and vessels operate.

Beyond The Sea’s Revolutionary Kite Sail Technology

In southwest France’s Arcachon Bay, Beyond The Sea conducted successful tests of their blue inflatable kite sail. The company’s founder, Yves Parlier, combined his sailing expertise with artificial intelligence and automated traction systems to develop a highly efficient kite sail. This innovative technology adapts the sail’s position based on wind conditions, resulting in significant fuel savings.

A Game-Changer for the Maritime Industry

The impact of kite sails on the maritime industry cannot be understated. With approximately 100,000 merchant ships and 4.6 million fishing trawlers worldwide, the potential for widespread adoption of this technology is enormous. The Wind Ship association predicts that by 2030, the market for kite sails could be worth four billion euros, with around 1,400 vessels equipped with this sustainable solution.

READ MORE: ALL ABOUT ‘BEYOND THE SEA’

Expanding Possibilities and Environmental Commitments

Beyond The Sea plans to further develop their kite sail technology. In upcoming tests off the waters of Norway, Japan, and the Mediterranean, they will explore larger kite sizes, aiming to reach 800 square meters within four years. Meanwhile, other companies like Airseas and Chantiers de l’Atlantique are also pioneering alternative solutions, such as larger kites for larger ships and rigid sails for ocean liners.

Overcoming Challenges and Seeking Government Support

While the wind propulsion sector shows promise, challenges remain. The cost of heavy fuel oil and the need for environmental regulations are key considerations. Lobbying for wind to be recognized as a fuel, the sector is working closely with the French government to create a supportive regulatory framework.

Recognizing wind as a viable fuel source could not only accelerate the adoption of wind propulsion technology but also create over 30,000 new jobs by 2030.

Future Opportunities

The innovative kite sail technology developed by Beyond The Sea and other companies presents a game-changing opportunity for the maritime industry. With the ability to significantly reduce fuel consumption and emissions, these sustainable solutions align with the industry’s growing focus on environmental responsibility.

By harnessing the power of the wind, the maritime sector can chart a course toward a greener and more sustainable future.


We Can’t Thank You Enough For Your Support!

— By Johnathan Elf, Contributor ‘The Voice of EU

— Contact Us: Info@VoiceOfEU.com

— Anonymous News Submissions: Press@VoiceOfEU.com


Continue Reading

Trending

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates 
directly on your inbox.

You have Successfully Subscribed!