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Mercy Corps CIO explains how NGOs can integrate blockchain to amplify their efforts

Rapid and efficient humanitarian aid distribution is enhanced through the use of blockchain technology. Mercy Corps CIO Scott Onder explains how.

Over the past few years, saying “blockchain fixes this” has become a common trope. However, in the case of international aid distribution being enhanced by the integration of blockchain, the phrase has proven to be true. 

When a crisis occurs, reaction time is paramount, and according to Mercy Corps chief investment officer Scott Onder, using data analytics and blockchain to take action before disaster strikes is even more effective from a humanitarian impact and cost perspective.  

On Episode 47 of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung discuss how Mercy Corps — a global team of humanitarians focused on alleviating suffering, poverty and oppression — has embraced Web3 and blockchain to amplify its charitable efforts and aid distribution. 

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IMF execs float raising crypto mining electricity prices by 85%

A tax on the energy used by crypto miners could cut emissions by 100 million tons a year, equal to Belgium’s emissions, say two IMF executives.

Two executives from the International Monetary Fund (IMF) say increasing the average crypto mining electricity costs globally by as much as 85% through taxes could put a huge dent in carbon emissions. 

A tax of $0.047 per kilowatt hour “would drive the crypto mining industry to curb its emissions in line with global goals,” the IMF Fiscal Affairs Department’s deputy division chief Shafik Hebous and climate policy division economist Nate Vernon-Lin wrote on Aug. 15.

If accounting for miners’ local impact on health, the tax would rise to $0.089 per kilowatt hour, the pair said.

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Verofax Partners With Climate Tech Firm Netgreen to Power Global Reforestation Efforts

Verofax Partners With Climate Tech Firm Netgreen to Power Global Reforestation EffortsBlockchain firm Verofax has teamed up with climate tech startup Netgreen to enhance global reforestation efforts. The partnership aims to create a transparent and efficient way for individuals to support tree-planting initiatives. This collaboration will also help track and measure carbon capture, preventing double counting and ensuring compliance with environmental standards. Linking People to Verified […]

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Vitalik Buterin: AI may surpass humans as the ‘apex species’

“Even Mars may not be safe” if superintelligent AI turns against humanity, warns Ethereum co-founder Vitalik Buterin.

Super-advanced artificial intelligence, left unchecked, has a “serious chance” of surpassing humans to become the next “apex species” of the planet, according Ethereum co-founder Vitalik Buterin.

But that will boil down to how humans potentially intervene with AI developments, he said.

In a Nov. 27 blog post, Buterin, seen by some as a thought leader in the cryptocurrency space, argued AI is “fundamentally different” from other recent inventions — such as social media, contraception, airplanes, guns, the wheel, and the printing press — as AI can create a new type of “mind” that can turn against human interests, adding:

“AI is [...] a new type of mind that is rapidly gaining in intelligence, and it stands a serious chance of overtaking humans' mental faculties and becoming the new apex species on the planet.”

Buterin argued that unlike climate change, a man-made pandemic, or nuclear war, superintelligent AI could potentially end humanity and leave no survivors, particularly if it ends up viewing humans as a threat to its own survival. 

“One way in which AI gone wrong could make the world worse is (almost) the worst possible way: it could literally cause human extinction.”

“Even Mars may not be safe,” Buterin added.

Buterin cited an August 2022 survey from over 4,270 machine learning researchers who estimated a 5-10% chance that AI kills humanity.

However, while Buterin stressed that claims of this nature are “extreme,” there are also ways for humans to prevail.

Brain interfaces and techno-optimism

Buterin suggested integrating brain-computer interfaces (BCI) to offer humans more control over powerful forms of AI-based computation and cognition.

A BCI is a communication pathway between the brain's electrical activity and an external device, such as a computer or robotic limb.

This would reduce the two-way communication loop between man and machine from seconds to milliseconds, and more importantly, ensure humans retain some degree of “meaningful agency” over the world, Buterin said.

A diagram depicting two possible feedback loops between humans and AI. Source: Vitalik.eth

Related: How AI is changing crypto: Hype vs. reality

Buterin suggested this route would be “safer” as humans could be involved in each decision made by the AI machine.

“We [can] reduce the incentive to offload high-level planning responsibility to the AI itself, and thereby reduce the chance that the AI does something totally unaligned with humanity's values on its own.”

The Ethereum co-founder also suggested “active human intention” to take AI in a direction that benefits humanity, as maximizing profit doesn’t always lead human down the most desirable pathway.

Buterin concluded that “we, humans, are the brightest star” in the universe, as we’ve developed technology to expand upon human potential for thousands of years, and hopefully many more to come:

“Two billion years from now, if the Earth or any part of the universe still bears the beauty of Earthly life, it will be human artifices like space travel and geoengineering that will have made it happen.”

Magazine: Real AI use cases in crypto, No. 1: The best money for AI is crypto

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White House advisors renew push for 30% digital mining energy tax

The May 2 blog post by the White House’s Council of Economic Advisers (CEA) has already attracted strong criticism from the community.

The Biden administration has renewed its push for a 30% Digital Asset Mining Energy (DAME) tax on cryptocurrency miners, part of efforts to minimize the industry’s alleged impact on climate change. 

The proposed crypto-mining tax was first announced on March 9 as part of President Biden's FY2024 budget and seeks to impose a phased-in 30% excise tax on electricity used by crypto-miners.

“An excise tax on electricity usage by digital asset miners could reduce mining activity along with its associated environmental impacts and other harms,” the Department of Treasury wrote at the time. Bitcoin (BTC) fell under $20,000 just a day later.

However, a May 2 statement from the White House’s Council of Economic Advisers (CEA) has brought the proposal back to light again, in attempts to justify the need for the new tax.

“Currently, cryptomining firms do not have to pay for the full cost they impose on others, in the form of local environmental pollution, higher energy prices, and the impacts of increased greenhouse gas emissions on the climate,” the CEA wrote.

“The DAME tax encourages firms to start taking better account of the harms they impose on society,” it wrote, adding:

“While crypto assets are virtual, the energy consumption tied to their computationally intensive production is very real and imposes very real costs.”

The blog also referenced reports suggesting crypto mining has “negative spillovers” on the environment, quality of life, and electricity grids and that pollution from electricity generation falls on low-income neighborhoods and communities of color, while pushing up the cost of electricity for consumers.

Related: Biden budget proposes 30% tax on crypto mining electricity usage

It even suggests that crypto mining using existing clean power (such as hydropower) can still have a negative impact on the environment, by pushing other electricity users to “dirtier” sources of electricity.

Screenshot of CEA's thread on the environmental impact of crypto mining. Source: Twitter

The Twitter thread posted by the Council of Economic Advisers has attracted widespread criticism from the community, with some calling it “misinformation” and “propaganda” while one Twitter user argued such a tax would “simply push Bitcoin mining to Russia & other countries."

Magazine: Best and worst countries for crypto taxes — Plus crypto tax tips

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Republicans Seek to Repeal Biden’s Inflation Reduction Act in Exchange for Raising US Debt Limit

Republicans Seek to Repeal Biden’s Inflation Reduction Act in Exchange for Raising US Debt LimitThere has been a lot of commentary concerning the U.S. raising its debt limit, as Treasury secretary Janet Yellen said last month that a U.S. default would be “devastating,” and European Central Bank president Christine Lagarde warned it would be a “major disaster” if the U.S. defaulted on its obligations. It now appears that Republican […]

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Environmental Impact of AI Models Takes Center Stage Amid Criticism Against Bitcoin Mining

Environmental Impact of AI Models Takes Center Stage Amid Criticism Against Bitcoin MiningWhile bitcoin’s effect on the environment has been discussed at length over the last two years, the latest trend of artificial intelligence (AI) software is now being criticized for its carbon footprint. According to several headlines and academic papers this year, AI consumes significant electricity and leverages copious amounts of water to cool data centers. […]

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C6 Bank’s Climate Tool to Track CO2 Emissions From Customer Transactions Prompts Debate on Future of Banking

C6 Bank’s Climate Tool to Track CO2 Emissions From Customer Transactions Prompts Debate on Future of BankingOn April 13, a C6 Bank customer in Brazil shared screenshots of his online bank account, revealing that the financial institution was tracking CO2 emissions from his purchases and urging him to compensate monetarily. C6 Bank states that the new tool aims to inspire Brazilians to adopt more sustainable behaviors. ‘CBDC Preview’ — Bank Customer […]

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US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States 

US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States After Saudi Arabia and members of the Organization of the Petroleum Exporting Countries (OPEC) surprised the world by announcing cuts to oil production, a spokesperson for U.S. president Biden’s National Security Council stated that reducing production is not advisable. According to a recent report, Saudi Arabia’s crown prince Mohammed bin Salman has told associates that […]

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ESG Analyst Daniel Batten Reveals Dynamic Charts Showing Bitcoin’s 52.6% Sustainable Energy Use

ESG Analyst Daniel Batten Reveals Dynamic Charts Showing Bitcoin’s 52.6% Sustainable Energy UseEnvironmental, social, and governance (ESG) analyst Daniel Batten said Tuesday that the computational backbone of the Bitcoin network now uses 52.6% sustainable energy. Batten and onchain analyst Willy Woo created Dynamic Bitcoin ESG Charts to showcase the protocol’s progress. Contrary to Cambridge University Data, Analyst Says Bitcoin Mining Uses 52.6% Sustainable Energy These days, there […]

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