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What will it take for the world to go solar?
July 29, 2024

Tech Brew

Grayscale Investments

It’s Monday. In 2022, global investments in solar energy added up to $300 billion, but those funds weren’t evenly distributed across the world. Tech Brew’s Jordyn Grzelewski chatted with Ajay Mathur, the director general of the International Solar Alliance, to discuss what it will take to spur solar adoption, especially in areas currently seeing paltry investments in the tech.

In today’s edition:

Jordyn Grzelewski, Kelcee Griffis, Annie Saunders

GREEN TECH

Solar systems

Graphic featuring a headshot of the International Solar Alliance's Ajay Mathur. Ajay Mathur

The sun stands to play a major role in the world’s shift away from climate-warming fossil fuels.

In fact, global investments in solar energy hit a whopping $300 billion in 2022—but those dollars didn’t flow in an equitable way.

That’s according to the International Solar Alliance (ISA), an intergovernmental organization headquartered in India that started in 2015 as part of a global effort to fulfill the Paris Agreement’s pledges. Today, the ISA has about 120 signatory countries, including the US, as it works to boost solar adoption worldwide, particularly in the Global South.

In October, the ISA announced some $35 million in funding for solar projects, including mini-grids and rooftop installations, primarily in Africa, the Associated Press reported.

Tech Brew recently caught up with Ajay Mathur, director general of the ISA. Mathur previously served as director general of the Energy and Resources Institute and as a member of the Prime Minister of India’s Council on Climate Change. He served as co-chair of the global Energy Transitions Commission and the Clean Cooling Initiatives of the One Planet Summit; led the Indian Bureau of Energy Efficiency; was a climate change negotiator at the Paris climate negotiations; and was a member of the Intergovernmental Panel on Climate Change, which was awarded the 2007 Nobel Peace Prize.

This conversation has been edited for length and clarity.

Tell me about the International Solar Alliance and what your primary focus is.

The International Solar Alliance is a grouping of 120 countries which aims at enhancing solarization across the world. And this means solar policies, this means money for solar, this means developing human capacity, changing rules and regulations—whatever it takes to bring solar energy into the energy mix of countries.

It’s about comparing best practices. It is about providing training. It’s about enabling money to flow—the entire gamut of activities that it takes to make solar the energy source of choice.

How would you characterize the landscape in terms of solar adoption around the world right now?

There’s one number which says this very well: Last year, something like $300 billion was invested in solar globally. This is great; it compares with the peak of investment in fossil fuels two decades ago. However, 74% of this investment went to OECD countries and China. The rest of the world got the remaining; all of Africa got 3% of the investment.

Keep reading here.—JG

   

PRESENTED BY GRAYSCALE INVESTMENTS

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Grayscale Investments

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With ETH, you gain exposure to Ethereum right in your brokerage or retirement account. And, it’s managed by Grayscale, the largest crypto asset manager. Grayscale operates more publicly traded crypto funds than anyone else and has the longest track record of operating crypto funds in the industry.

Visit grayscale.com/eth to learn more or search "ETH" on your investment platform today.

Grayscale. Crypto investing begins here.

*ETH is not suitable for all investors. An investment in ETH is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. ETH is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”). As a result, shareholders of ETH do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act.

CYBERSECURITY

Gold standard

Paris Olympics 2024 site Michel Euler/Getty Images

As France prepares for an influx of Olympic athletes and tourists, the country’s communications networks are also gearing up for an uptick in traffic.

According to a report from digital services firm Cloudflare, which has monitored visits to Olympics-related websites since January, there have been “multiple spikes associated with specific Olympic events or ticket sales” as the extravaganza draws closer.

The most online interest, perhaps unsurprisingly, is coming from the games’ host country: 24% of Domain Name System (DNS) requests have originated in the republic. The other countries showing the keenest interest in Olympics content are the United Kingdom and the United States, which have respectively generated 20% and 17% of DNS requests, Cloudflare found.

The games, which began last week, are slated to run through August 11, showcasing some 32 sports in more than 300 events that range from breakdancing (a newcomer this year) to track and field foot races (a staple hailing from the ancient Greeks).

According to Cloudflare, online activity spiked last month as key event venues began operations and as IMAX theaters began selling tickets for live event viewing in the US.

Keep reading here.—KG

   

AI

Election deception

Example of a political deepfake Olivier Douliery/Getty Images

A robocall that cloned President Joe Biden’s voice in January is one of the latest examples establishing that artificial dupes of real people’s voices and images can—and will—be used to trick members of the public.

In a new survey, identity verification platform Jumio found that the phenomenon is never far from the public’s consciousness, especially when it comes to politics.

Of the more than 8,000 adults queried across the US, UK, Mexico, and Singapore, 72% reported worrying about deepfakes on a daily basis. Of the countries surveyed, Americans worried the least—just over half reported that deepfakes were a constant concern. Mexicans reported worrying the most; 89% of respondents said it’s always on their mind.

More than half of the respondents also agreed that their governments don’t do enough to regulate artificial intelligence, while 43% expressed “faith” in their government’s ability to do so.

The pervasiveness of AI also extends to perceived election integrity. Three-fourths of respondents across the world said they “worry about the potential for AI and deepfakes to influence upcoming elections,” including 72% of American participants.

While 60% of respondents expressed bravado about their ability to spot deepfakes—with young men communicating the highest confidence that they could detect AI manipulation—that assurance declined in the context of elections.

Keep reading here.—KG

   

TOGETHER WITH SNOWFLAKE

Snowflake

Advancing in the AI age. We’re a year and half into the generative AI era, and new developments are dropping daily. To see how companies are building strong foundations for an AI-powered future, Snowflake looked at how 9k+ customers are putting AI to work in the Data Trends Report 2024. Read it here.

BITS AND BYTES

Stat: 22%. That’s the percentage of consumers who say they wouldn’t spend their hard-earned cash at businesses using dynamic pricing, Retail Brew reported, citing data from a NerdWallet study.

Quote: “And when people around the world cannot discern fact from fiction because of a flood of AI-enabled mis- and disinformation, I ask, is that not existential for democracy?”—Vice President Kamala Harris, at an AI safety summit in the UK last year, quoted in a Verge roundup of the likely Democratic nominee’s positions on tech policy

Read: Two 80-something journalists tried ChatGPT. Then, they sued to protect the ‘written word’ (Associated Press)

Think crypto? Think Grayscale. Grayscale is a leading crypto asset manager. Explore their suite of crypto funds at grayscale.com, available in your investment account today. Crypto investing begins here.*

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✤ A Note From Grayscale Investments

Investing involves risk and possible loss of principal. Visit our website for important disclosures.

The trust is not a fund registered under the Investment Company Act of 1940, as amended (“1940 Act”), and is not subject to regulation under the 1940, unlike most exchange traded products or ETFs. An investment in the trust is subject to a high degree of risk and heightened volatility. Digital assets are not suitable for an investor that cannot afford the loss of the entire investment.

*Low cost based on gross expense ratio at 0% for the first 6 months of trading for the first $2.0 billion. After the fund reaches $2.0 billion in assets or after 6-month waiver period, the fee will be 0.15%. Brokerage fees and other expenses may still apply. See prospectus for additional fee waiver information.

Grayscale Ethereum Mini Trust (the Trust) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Trust has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833) 903 - 2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101. Foreside Fund Services, LLC is the Marketing Agent for the Trust.

Investing involves significant risk, including possible loss of principal. The Trust holds Ethereum; however, an investment in the Trust is not a direct investment in Ethereum. As a non-diversified and single industry fund, the value of the shares may fluctuate more than shares invested in a broader range of industries. Extreme volatility, regulatory changes, and exposure to digital asset exchanges may impact the value of Ethereum, and consequently, the value of the Trust. Digital assets are not suitable for an investor that cannot afford loss of the entire investment. There is no guarantee that a market for the shares will be available, which will adversely impact the liquidity of the Trust.

The value of the Trust relates directly to the value of the underlying digital asset, the value of which may be highly volatile and subject to fluctuations due to a number of factors. There is no certainty that an active trading market for shares will develop or be maintained which will adversely affect the liquidity of shares of the Trust.

         
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