Lifeboat Foundation: Safeguarding Humanity
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Category: economics

Virgin Hyperloop and Bangalore International Airport Limited (BIAL), operator of the Kempegowda International Airport (BLR), have signed a memorandum of understanding to conduct a pre-feasibility study for a proposed hyperloop from the airport to the city centre.

Virgin says its 1,080km/h vacuum-tube travel concept could whisk passengers in pods downtown in 10 minutes.

Signatories were Sultan bin Sulayem, chairman of Virgin Hyperloop and DP World, and Mr. TM Vijay Bhaskar, chief secretary of the Government of Karnataka and chairman of BIAL’s board of directors.

“A hyperloop-connected airport would dramatically improve the delivery of cargo and create an ultra-efficient supply chain,” Sultan bin Sulayem said.

The study on technical, economic and route feasibility is expected to be done in two six-month phases.

“This mode of transportation offers enormous economic potential, connecting passengers at unprecedented speeds, with zero emissions,” said Mr. Hari Marar, BIAL chief executive.

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Space exploration may long have been the domain of national governments due to the huge budgets required. Investment from the private sector was slow to pick up due to uncertain economic returns and the concern that their involvement will in some way downplay the virtues of science. However, recent developments have seen increased participation by the private sector, ranging from partnerships with federal space programs to commercial space flights. As an investor, determine whether there is value to be unlocked from your support of space exploration activities, the feasibility of making a consistent return on investment and your capacity for risk.

You do not need to be a billionaire to invest in outer space. Several exchange-traded funds invest in aerospace companies likely to be involved in space exploration technology and related equipment. You can opt to buy stock in individual aerospace firms after diligent research to find firms that have the best track record. Investing in space ventures directly is too risky, and you have to be experienced and knowledgeable about the respective companies’ technology, management and business plans. In addition, their stocks are likely to plummet hard after setbacks or major disasters, so getting a diversified fund spreads the risk.

You can choose to invest your money in mutual funds with diversified holdings in aerospace companies. The mutual fund will be a collection of stocks, bonds and other securities. Your investment will yield money from dividends, distribution if the fund makes capital gains, or by selling your portfolio if the fund’s shares increase in price. Choose an investment that is low risk if you are new to the investment world or the space technology industry.

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While there’s no launch date yet, the People’s Bank of China is likely to be the first major central bank to issue a digital version of its currency, the yuan, seeking to keep up with — and control of — a rapidly digitizing economy. Trials have been held this year in a handful of cities and tests have started with some e-wallets and online apps, with the Covid-19 pandemic and need for social distancing providing a new sense of urgency. Unlike cryptocurrencies such as Bitcoin, dealing in the digital yuan won’t have any presumption of anonymity, and its value will be as stable as the physical yuan, which will be sticking around too. Behind China’s rush is a desire to manage technological change on its own terms. As one PBOC official put it, currency isn’t only an economic issue, it’s also about sovereignty.

Not all the details are out, but according to new patents registered by the PBOC and official speeches, it could work something like this: Consumers and businesses would download a digital wallet onto their mobile phone and fill it with money from their account at a commercial bank — similar to going to an ATM. They then use that money — dubbed Digital Currency Electronic Payment, or DCEP — like cash to make and receive payments directly with anyone else who also has a digital wallet. Some questions remain, including the impact on Big Tech companies such as Ant Group Co. and Tencent Holdings Ltd. that already offer payment services.

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Boosting seedling survival rates from 10% to at least 90%.

Conserving existing forests, restoring forest ecosystems and reforesting suitable lands is essential if we are to transition to a sustainable pathway for our economies and societies at the required speed and scale.

Such a transformation is the goal of 1t.org – the Trillion Tree Platform announced at the World Economic Forum Annual Meeting 2020 in Davos. Set up to support the UN Decade on Ecosystem Restoration (2021−2030), 1t.org seeks to raise ambition for 1 trillion tree commitments and empower and connect a global community of innovators and ecopreneurs who are developing the needed solutions to achieve the trillion trees goal.

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Historically, human space exploration was initiated by the Soviet Union with the Sputnik launch into the Earth orbit in 1957. Humankind’s space endeavors grew with more determination after the first animal’s launch, a dog called “Laika”. Marked by the Soviet Union’s Yuri Gagarin trip in the Vostok 1 in 1961 and his compatriot Valentina Tereshkiva’s three-day space orbiting mission in the Vostok 6 in 1963, humankind succeeded to make the giant leap beyond Earth’s boundaries.

Nonetheless, the Yuri Gagarin’s spacewalk and Neil Armstrong’s first steps on the Moon remain the spark to ignite ambitious human prospects on space travel, which unleashed unlimited possibilities on the humankind’s expansion into outer space. The achieved milestones in space endeavors created a shift from a mere inspirational driver and curiosity feeder on existential questions [3] to a space race which grew from a bipolar race between the United States and the former Soviet Union to a different space race in which new actors, particularly private actors, have become essential players [4].

The most prominent ongoing transformation of the global space sector is the race to commercialize space driven by private enterprises and induced by governmental agencies who rewarded these enterprises billions of dollars in governmental space contracts. The evolution of space commercialization could be illustrated through the U.S. space economic emergence from the National Aeronautics and Space administration’s (NASA) monopoly to a more liberalized space sector. Such an emergence came as a consequence of NASA’s struggle to improve its military-based technologies to achieve cost-effective and safe space access [5] in addition to budget reductions and various costly accidents, which led NASA to outsource its spaceship manufacturing.

NASA’s outsourcing mechanisms were organized through public procurement contracts accorded through bidding mechanisms to a few private space giants. Under these procurement contracts, private entities undertook rockets and spaceships manufacturing supervised by NASA, who provided the launching facility. From 1982, private actors’ access to the space sector became less costly due to reduced entry barriers to the space sector [6].

Sparked by President Barak Obama’s policy in 2010, the space industry witnessed an unprecedented disruption characterized by decentralizing space activities from governmental entities to private sectors. As a consequence, the U.S. space sector has undergone a shift that impacted the global space sector. This shift was propelled by complex dynamics due to the interaction between various forces beyond simple market forces and driven by various factors. The combination of these factors, including the reduction of public entities’ involvement and the substantial private investment injection into the global space sector, created a diverse space sector [7]. The global space sector’s evolution created a revolutionary New Space market structure; thanks to its related complex geopolitics and complex forces, a new race started: the race to commercialize space.

#SpaceWatchGL

References

[1] Cousins, Norman, Philip Morrison, James Michener, Jacques Cousteau, Ray Bradbury, Why Man Explores, California Institute of Technology Symposium, Pasadena, July 2, 1976, California, NASA Educational Publication 123, Government Printing Office: Washington D. C., 1977.

[2] Patenaude, Monique, What Drives Humans To The Unknown?, Stewart Weaver Surveys Exploration Through the Ages, University of Rochester, 2015. (Accessed on February 29, 2020).

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The digital yuan and the existing systems are not mutually exclusive. Most consumers are likely to continue using their Alipay or WeChat Pay platforms – or both systems, in many cases – for their multitude of applications and services that have evolved from simple payments to loans, asset management and money-market investments.

China already boasts more digital mobile payment users than anywhere else on earth, in a US$49 trillion market almost 500 times bigger than in the United States. The People’s Bank of China governor Yi Gang wants to hasten the digital transformation of China’s currency and economy.

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Summary: Lessons from other historic pandemics show social tension accumulated throughout epidemics lead to significant episodes of rebellion.

Source: Bocconi University

If you have not been hearing much of the French Gilets Jaunes or of the Italian Sardines in the last few months, it’s because “the social and psychological unrest arising from the epidemic tends to crowd-out the conflicts of the pre-epidemic period, but, at the same time it constitutes the fertile ground on which global protest may return more aggressively once the epidemic is over,” writes Massimo Morelli, Professor of Political Science at Bocconi, in a paper recently published in Peace Economics, Peace Science and Public Policy.

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Public-private partnerships have been central to the development of cybersecurity over the past decade, through the sharing of threat information between commercial organizations and historically secretive government agencies. The opportunity now exists for a new era of public-private partnership, for a new realm of information sharing.

Cyberattacks continue to be reported as a key business risk. In the recent World Economic Forum’s Regional Risks for Doing Business 2019 report, survey respondents in six of the world’s 10-largest economies identified cyberattacks as their number one risk.

However, as distinct from other risks such as fiscal crises or energy price shocks, cyberattacks have a clear mitigation: cybersecurity. Yet despite a decade of rising spending, respondents do not have confidence in their ability to deliver sufficiently strong cybersecurity to mitigate the risk. Why is this?

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