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Category: economics – Page 96

Seoul, First Local Gov’t to Start New-Concept Public Service with “Metaverse Platform”

The Seoul Metropolitan Government (SMG) is the first local government in Korea to establish a metaverse platform, which has emerged as a contactless communication channel in the post-pandemic era, to start providing a new-concept public service by using the platform in its administration.

The SMG plans to establish “Metaverse Seoul” (tentatively named), a high-performance platform, by the end of next year, and create a metaverse ecosystem for all areas of its municipal administration, such as economic, cultural, tourism, educational and civic service, in three stages from next year.

Starting with the pilot program of a Bosingak Belfry virtual bell ringing event at the end of this year, the SMG will consecutively provide various business support facilities and services, including the Virtual Mayor’s Office, Seoul FinTech Lab, Invest Seoul and Seoul Campus Town, on its metaverse platform.

This is what buildings of the future will look like: and 5 ways to get there

Learn More.

World Economic Forum.

The gigantic roof regulates heat and light, drawing on ancient Mayan design.

Learn more about the importance of sustainable buildings.

For years many of us in the real estate community have recognized the pressing need for change. In early 2020, the World Economic Forum’s Real Estate partners set out to prepare a report on the future of real estate.

At the time, we thought sustainability had to be our core focus; sustainability in the broader sense of its meaning – clearly highlighting the importance of making real estate more environmentally friendly, but also addressing questions such as wellness, community, and the inclusiveness of buildings and urban spaces. For example, inclusiveness doesn’t touch only on city planning, architecture and accessibility, but also on affordability. All these required a concerted response from the real estate sector, from urban entrepreneurs and from policy makers.

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Japan Is Investing Over $5 Billion to Solve the World’s Chip Shortage

Bringing global giants into the economic fight.

The world’s biggest chip-making nation is getting serious.

Japan has committed $5.2 billion (roughly 600 billion yen) toward providing support for semiconductor manufacturers in a bid to help solve the world’s ongoing chip shortage.

While the funds will go to several chipmakers, the most notable among them is the largest one in the world, Taiwan Semiconductor Manufacturing Co (TSMC), according to an initial Tuesday report from Nikkei.

Japan invests $5.2 billion in Taiwan’s giant chip-making firm TSMC also said that it would construct a new chip plant in Japan for $7 billion in a joint effort with Sony Group Corp. Understandably, the government of Japan was pleased. The remaining 200 billion yen of Japan’s new investment will be directed toward preparing other factories for multiple new projects, including one under development by the U.S. memory chipmaker Micron Technology Inc, and Japan’s Kioxia Holdings, according to the report. Japan has remained the largest chip-making industry in the world since the 1980s. But since then the nation has fought an uphill battle to maintain its competitive edge in an increasingly crowded industry, falling into a steady decline in the last three decades as economic rivals like manufacturers based in Taiwan continued to close the gap.

Full Story:

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Replacing Carbon Fuel With Nitrogen: Chemists Discover New Way To Harness Energy From Ammonia

A research team at the University of Wisconsin – Madison has identified a new way to convert ammonia to nitrogen gas through a process that could be a step toward ammonia replacing carbon-based fuels.

The discovery of this technique, which uses a metal catalyst and releases, rather than requires, energy, was reported on November 8, 2021, in Nature Chemistry and has received a provisional patent from the Wisconsin Alumni Research Foundation.

“The world currently runs on a carbon fuel economy,” explains Christian Wallen, an author of the paper and a former postdoctoral researcher in the lab of UW–Madison chemist John Berry. “It’s not a great economy because we burn hydrocarbons, which release carbon dioxide into the atmosphere. We don’t have a way to close the loop for a true carbon cycle, where we could transform carbon dioxide back into a useful fuel.”

How Morocco Secretly Controls China, India, The United States, And the World

This is a farm in China.
This is a Mcdonalds in New York.
This is an apartment complex in Mumbai.
And this is a skyscraper in London.

What do all these have in common? Well as it turns out. All of these places’ successes or failures…
Economic booms or collapses…
And even population growth or famines…
Might soon be decided by the nation of Morocco.

And probably not for the reasons that you might think. In fact, this future economic trajectory was likely decided by a tiny little creature a couple centuries ago.

This a bat. In the modern world, we view bats as things that both control insect population, as well as creatures that spread rare diseases.

But a few hundred years ago, bats were discovered to do something else. Something miraculous that would shape our world forever without most people realizing it.

In 1,802, the european explorer, alexander von Humboldt, was travelling through the Peruvian lands, when he discovered something strange.

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The chase for fusion energy

And just as private space travel is now materializing, many industry observers are forecasting that the same business model will give rise to commercial fusion — desperately needed to decarbonize the energy economy — within a decade. “There’s a very good shot to get there within less than ten years,” says Michl Binderbauer, chief executive of TAE Technologies. In the FIA report, a majority of respondents thought that fusion would power an electrical grid somewhere in the world in the 2030s.

An emerging industry of nuclear-fusion firms promises to have commercial reactors ready in the next decade.

New Measures For The Digital Economy

By analyzing data from the global online intelligence platform BuiltWith, my colleagues and I have been exploring new ways to measure a nation’s actual digital footprint – from the bottom-up. We have developed two new experimental measures of national digital infrastructure – one focused on domestic digital infrastructure (DDI) and another that looks at a nation’s online export ambitions (DXI).

We plan to develop these further and explore how they may be used to feature in a future index of Digital Economic Investment next year.

This first measure: Digital Domestic Infrastructure (DDI), has a domestic focus and simply looks at the number of websites in each country using the top-level country domain as a simple filter for geography. We digital infrastructure consists of much more than websites and online services but that is a useful guide at a national scale into a nations investments and assets in the digital economy. We’ve also filtered for domains that are hosted by or invest in paid technologies (a data feature BuiltWith offers), so as to distinguish active websites from those that are idle or redirected – typically held by domain squatters. This also removes counts of hobby or personal websites as, while there’s an amazing array of free, open source technologies to be used in building digital services online, most commercial services now have at least one form of paid technology in their mix.

Reaction Engines assembles partners for its ammonia aviation project

The UK’s Reaction Engines has announced a joint venture to create compact, lightweight ammonia reactors it says can be used to decarbonize difficult sectors like shipping and off-grid energy generation – and surprisingly, also aviation.

We’ve written before about ammonia’s potential in the clean transport sector; check out our ammonia clean fuel primer piece from September. Compared against hydrogen, ammonia’s much easier and cheaper to store and transport, and although it only carries about 20 percent as much energy as hydrogen by weight, it carries about 70 percent more energy than liquid H2 by volume.

The weight issue generally rules ammonia out of aviation discussions; at less than half the specific energy of jet fuel it looks less attractive than hydrogen. But hydrogen’s volume issues must also be taken into account. Today’s airliners are built for jet fuel so retro-fitting large-volume long-range hydrogen tanks can mean you lose seats. And anyone who’s flown economy can attest, airlines really like fitting in as many seats as they can.

North American companies rush to add robots as demand surges

Nov 11 (Reuters) — Companies in North America added a record number of robots in the first nine months of this year as they rushed to speed up assembly lines and struggled to add human workers.

Factories and other industrial users ordered 29,000 robots, 37% more than during the same period last year, valued at $1.48 billion, according to data compiled by the industry group the Association for Advancing Automation. That surpassed the previous peak set in the same time period in 2017, before the global pandemic upended economies.

The rush to add robots is part of a larger upswing in investment as companies seek to keep up with strong demand, which in some cases has contributed to shortages of key goods. At the same time, many firms have struggled to lure back workers displaced by the pandemic and view robots as an alternative to adding human muscle on their assembly lines.

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