What Is Bitcoin Halving? Forbes Advisor Australia – Forbes

The first bitcoin halving occurred in November 2012. The following halving was in July 2016, and the most recent halving was in May 2020.

The mining reward, or subsidy, started at 50 BTC per block when Bitcoin was createdin 2009. The amount drops in half each time a new halving takes place. For instance, after the first halving, the reward for Bitcoin mining dropped to 25 BTC per block.

The last halving will occur in 2140. At that point, there will be 21 million BTC in circulation and no more coins will be created. From there, miners will just earn transaction fees paid by users transacting on the blockchain.

Richard Baker, CEO of miner and blockchain services provider TAAL Distributed Information Technologies, points out that miners may shift transaction processing power away from BTC once the next halving occurs as they seek more transaction fees elsewhere to make up for lost Bitcoin revenue.

Fewer miners would mean a less secure network, experts say.

On the other hand, while the halving reduces the reward for miners, it equally lowers the supply of new coins without reducing the demand, notes Patricia Trompeter, CEO of cryptocurrency miner Sphere 3D Corp.

If the economic theory holds true, which historically for Bitcoin it has, Bitcoin prices should increase dramatically in response to the supply shock, she says. Although, there is still debate on whether the historical price movement around each halving was a direct product of the halving.

Higher prices would be an incentive for miners to keep processing Bitcoin transactions.

Activity is also spiking on the Bitcoin blockchain following the creation of new financial primitives on Bitcoins blockchain, increasing transaction fees collected by miners. If the chain experiences an increase in activity, the transaction fees alone could be enough to incentivise miners stick with Bitcoin even in the event that BTC prices do not increase after the next halving.

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What Is Bitcoin Halving? Forbes Advisor Australia - Forbes

Franklin Templeton debuts new crypto SMA amid bitcoin ETF hype – Blockworks

After debuting a bitcoin ETF and eyeing the launch of an ether-focused counterpart, Franklin Templeton also continues to build out another segment of crypto products.

The fund giant, with more than $1 trillion in assets under management, has launched the Franklin Templeton Digital Asset Dynamic BTC/ETH separately managed account (SMA), the company said Tuesday.

SMAs offer a nuanced approach to investing, allowing investors greater customization in terms of asset diversification and tax optimization strategies. In the crypto realm, SMAs offer investors exposure to a range of exposures that go beyond bitcoin currently the only crypto asset that US ETFs can hold directly.

Read more: ETF adoption set to keep driving bitcoin price: 10Ts Dan Tapiero

The actively managed product seeks to outperform a market cap-weighted portfolio of bitcoin and ether. It is to be available for registered investment advisers (RIAs) and other US wealth managers on Eaglebrook Advisors SMA platform. Anchorage Digital is set to custody the assets.

Franklin Templetons latest SMA comes after the firm introduced two such investment vehicles in 2022.

Its Digital Assets Core SMA invests in 10 to 15 of the largest digital assets. The Franklin Templeton Digital Assets Core Capped SMA deploys a similar strategy, but caps its allocations to BTC and ETH at 25% of the portfolio each.

Franklin Templeton launched its Bitcoin ETF (EZBC) alongside a slate of competitors on Jan. 11. The fund currently ranks ninth of the 10 US spot bitcoin funds in terms of assets under management with $312 million as of market close Monday.

The spot bitcoin ETFs have so far notched total net inflows of roughly $11.3 billion. Industry watchers expect more wealth managers to make such funds available to clients in the coming months, catalyzing further growth in the segment.

Aside from diversified exposure, SMAs allow for investors to engage in tax-loss harvesting purposefully incurring capital losses to offset capital gains taxes and allow clients to own the underlying assets directly in their name at a qualified custodian, executives have said.

Read more: Eaglebrook CEO: Bitcoin ETF would send crypto SMAs into hyperdrive

[Crypto ETFs] allow more people to dip their toes inin an easier way, which will in turn drive demand for our solutions from advisers because of the extra value prop via strategies and assets they cant access in the ETF wrapper, Eaglebrook CEO Christopher King told Blockworks last year.

While the Securities and Exchange Commission approved ether futures ETFs, investors in the US cannot access exposure to ether via an ETH that holds the asset directly, for example.

Read more: Ether ETFs coming in May? Heres why many are bearish

Franklin Templeton is one of several firms along with BlackRock, Grayscale Investments, Ark Invest and others with spot ether ETF proposals in front of the SEC.Potential future US ETFs holding crypto assets other than BTC and ETH are a little bit out of sight, Bitwise Chief Investment Officer Matt Hougan told Blockworks on a podcast in January.

It would be a big leap to get to a solana ETF, for example, Hougan added noting there is not yet a regulated futures market for SOL.

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Franklin Templeton debuts new crypto SMA amid bitcoin ETF hype - Blockworks

How European investors can ride the bitcoin ETF wave – Financial Times

Bitcoin exchange traded funds have grabbed the headlines in the US this year, attracting strong investor interest and for a time helping to drive the price of the worlds most popular cryptocurrency to record highs.

Since January, when the US Securities and Exchange Commission approved spot bitcoin ETFs which hold the actual currency, rather than futures contracts on it 11 have been launched by firms including BlackRock, Fidelity, WisdomTree, and VanEck.

And they have already amassed $48bn of assets under management between them, according to Morningstar data up to March 5.

Frank Koudelka, head of ETF servicing at State Street, says the SECs decision and the ensuing rally in the bitcoin price will probably lead to more interest among asset managers, and new funds based on other cryptocurrencies.

We anticipate the next important date for the expansion of the digital assets universe to be in May, when the SEC will decide on whether to approve a spot ethereum product, he says.

Europe has had its own spot bitcoin ETF since August last year, when Jacobi Asset Management launched a fund, following approval by the Guernsey financial regulator.

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But the Jacobi ETF remains the only bitcoin product investing directly in the currency in Europe, and it is not available to retail investors. It had to be structured as an alternative investment fund, because the standard Ucits structure adopted by mass-market European ETFs cannot be used to hold cryptocurrencies, for regulatory reasons.European retail investors cannot invest in the new US bitcoin ETFs, either.

However, that does not mean they are cut off from investing in bitcoin products altogether.

European asset managers have created other crypto-related exchange traded products over the past five years, and Morningstar data shows these held $12bn of assets at the end of February.

These products can hold digital assets by being structured as exchange traded commodities or exchange traded notes and, technically, they are debt instruments, rather than funds.

We anticipate the next important date...to be in May, when the SEC will decide on whether to approve a spot ethereum product

Michael Delew, head of capital markets for Europe at WisdomTree, explains that, while an ETP of this kind is not referred to as a fund, it provides a similar investment experience.

It functions like a fund, has strong investor protections, maintains full transparency of assets, and appoints an independent trustee who holds the legal right to those assets and represents investor interests, he points out.Regardless of their set-up, [US ETFs and European ETPs] both provide a flexible and liquid wrapper representing transparent exposure to an underlying asset.

Koudelka notes that these European products were initially only marketed to institutional investors, due to the nature of the underlying asset.But we are now increasingly seeing ETC issuers seek approval for retail investment into the ETCs through the secondary market, he says.

The SEC has mandated that US spot bitcoin ETFs must process their creations and redemptions ie, buying and selling their underlying crypto assets by delivering cash in exchange for shares. However, European crypto ETPs are able to exchange their underlying assets for shares, in what is known as an in-kind transaction.

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Dellow says in-kind transactions can be significantly more efficient than cash processes, particularly when dealing with digital assets such as bitcoin.

This can have long-term implications on the performance, trading spreads and security of the product that can have a sizeable effect on overall investor costs and returns over time, Delew stresses.

He adds that, although investors do not directly deal with the primary market creation and redemption process, the option of in-kind transactions is something they should be aware of when choosing an ETP particularly when it comes to digital asset products.

But selling these products to investors is not without its difficulties for asset managers.

Martijn Rozemuller, chief executive officer of VanEcks European business, says marketing and distribution of his firms crypto ETNs is usually relatively straightforward but can be challenging in some countries including the UK and Belgium.

300%Increase in assets held in European crypto-related ETPs since end 2022

Serving potential clients from the US is complicated, although they now have access to the VanEck Bitcoin ETF, while the Asian and Middle East markets present potential growth opportunities, he says.Navigating local jurisdictions is challenging outside of the EU, the majority of our investors are retail investors based in the EU.

Despite those challenges, the assets held in European crypto-related ETPs have risen by 300 per cent since the end of 2022, Morningstar data shows.

However, a blog posted on the European Central Banks website last month said the US regulators decision doesnt change the fact that bitcoin is not suitable as means of payment or as an investment. This suggests that while bitcoin products have turned the heads of Europes investors, its financial authorities are yet to be convinced they should follow the SECs lead.

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How European investors can ride the bitcoin ETF wave - Financial Times

3 reasons why Bitcoin price is up today – Cointelegraph

Bitcoin (BTC) price rose back above $70,000 for the first time in a week, recovering from the streak of negative flows into spot BTC exchange-traded funds (ETF) last week.

Data from Cointelegraph Markets Pro and TradingView shows the BTC price climbed from an opening of $67,212 to an intra-day high of $70,306 on March 25. At the time of publication, BTC was trading at $70,268, up 7.5% over the last 24 hours.

Bitcons recovery follows a period of price downturn that has seen the cryptocurrency fall as low as $60,771, corroborated by negative ETF inflows. Could the surge in multiple BTC price metrics be a sign of things to come?

Last week marked the end of a 7-week cycle of inflows into crypto investment products as investors withdrew more than $942 million, according to a March 25 report by CoinShares.

The report noted that last week marked the first outflow following a record 7-week run of inflows totaling US$12.3bn.

The crypto asset management firm attributed the large outflows to the recent drawdown in crypto prices, which wiped US$10bn off total assets under management (AuM) but remain above prior cycle highs at US$88bn.

CoinShares analyst James Butterfill said,

The poor sentiment was mostly focused on Bitcoin, which accounted for 96% of the flows totaling $904 million, while short-bitcoin also saw minor outflows totaling US$3.7m.

Bloomberg analyst James Seyffart said that the large outflows witnessed by the spot Bitcoin ETFs last week were probably driven by bankrupt lender Genesis selling GBTC shares.

Bitcoin has recently experienced a notable surge in its Age Consumed metric over the past few days. According to data from market intelligence firm Santiment, the number of dormant BTC addresses moving BTC surged to 162.89 million on March 23, the highest in over two years.

Age Consumed is a metric that tracks the movement of previously idle BTC coins. The metric shows the number of BTC changing addresses daily multiplied by the number of days since they moved. Spikes signal a potential increase in price volatility.

This spike in Age Consumed suggests that previously dormant addresses holding Bitcoin are now re-entering circulation, indicating a revival in network activity. This was evidenced by a surge in transaction volume, as shown in the in chart below.

As Bitcoins Age Consumed metric grows, transaction volume increases, a precursor to potential price jumps in the BTC price.

Related: BTC price battles for key $69K as Bitcoin nears short liquidation zone

The CoinShares report noted that altcoins fared well last week, seeing a net inflows of US$16m. Most notable were Polkadot (DOT) with $5 million inflows, Avalanche (AVAX) with $2.9 million and Litecoin (LTC) with $2 million.

As such, a number of large-cap altcoins have outperformed Bitcoin over the last week. They were led by BNB Chains BNB, Dogecoin (DOGE), and Toncoin (TON, which have produced 7%, 20% and 46% gains in the last seven days, according to data from CoinMarketCap.

Although Bitcoin has only risen 4.5% over the same period, it has outperformed most altcoins over the same period, including Ethereum.

At the time of publication, the total crypto market was resting at $1.191 trillion, 43% below the $1.707 peak reached in November 2021.

The weekly relative strength index is in the overbought region at 83, suggesting that the altcoin market still favors the upside.

Independent analyst and X user ChiefRat takes notice of these overbought conditions and says that although he expects the #altcoins market cap to make a new ATH in 2024, there could be a test of the support at $960 billion.

Adding this, popular analyst Sheldon The Sniper said, A squeeze from BTC and a drop in dominance will create a MEGA altcoin squeeze and rally, adding that the market is one step closer to a true altseason.

However, data from CoinMarketCap shows that BTC still dominated the market at 51.77%. Moreover, the Altcoin Season Index by Blockchain Center has dropped to 49, meaning that the altcoin season is not here yet.

Blockchain Center says an altcoin season can only be declared when 75% of the top 50 coins performed better than Bitcoin over the last season (90 days).

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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3 reasons why Bitcoin price is up today - Cointelegraph

Bitcoin price reclaims $70K as Coinbase BTC supply hits 9-year low – Cointelegraph

Bitcoin (BTC) reclaimed the $70,000 mark on March 25 as BTC accumulation resumed, leading to a nine-year low in Bitcoin supply on the Coinbase cryptocurrency exchange.

Bitcoin reclaimed the $70,000 mark at 4:47 pm UTC for the first time since March 15, according to CoinMarketCap data.

On the supply side, Bitcoin reserves on Coinbase reached a nine-year low of 344,856 BTC on March 18, showing that investors have resumed accumulating BTC off exchanges.

The last time BTC reserves on Coinbase were at similar lows was in 2015, according to data provider Glassnode.

The total Bitcoin balance in accumulation addresses has also rebounded to over 3.2 million BTC, nearing a record high, according to Glassnodes chart.

Related: Bitcoin eyes 7-month win streak for the first time

In this case, accumulation addresses are those with over 10 BTC and no outgoing transactions or ties to centralized exchanges and mining firms.

Further showcasing the growing accumulation pattern, Bitcoin inflows to accumulation addresses hit a new all-time high of 25,300 BTC on March 22, according to an X post by verified CryptoQuant author IT Tech.

This suggests that big investors are likely betting on more upside after the recent 15%20% drawdown from the all-time high of around $74,000.

In total, Bitcoin reserves on all exchanges hit a three-year low of 1.92 million BTC on March 25, according to data by CryptoQuant. In other words, the price of Bitcoin may still have more room to run, with BTC supply on exchanges at historic lows and demand from exchange-traded funds (ETFs) already attracting billions in inflows.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Bitcoin price reclaims $70K as Coinbase BTC supply hits 9-year low - Cointelegraph

Navigating post-halving landscape: What to expect for Bitcoin price and network security – Cointelegraph

The rewards for mining Bitcoin are about to be chopped in half for miners in a scheduled event called the halving. This anti-inflationary measure is predicted to occur on or about April 17, 2024.

Though it wont be the first such halving event, the crypto world is poised to enter the unknown, as recent all-time highs in price and a somewhat crowded mining landscape bring mystery and suspense to what could become one of the most important days in cryptocurrency history.

The months leading up to the halving have seen the approval of the first-ever spot Bitcoin exchange-traded funds in the United States as well as a new all-time-high Bitcoin (BTC) price of $73,679 set on March 13, 2024. Whether the price will deflate, rocket or maintain after the April halving event is anyones guess there are no guarantees. But if the past is any indicator of the future, previous halving events can be studied to get an idea of how this years could play out.

Bitcoin block number one was mined with a reward of 50 BTC on Jan. 3, 2009. The first halving event occurred on Nov. 28, 2012, and reduced that reward to 25 BTC per block. At the time, BTC was sitting at $12.20.

Quick fact: If one had spent $100 on BTC the day of the first halving, they'd have snagged 8.9 BTC. Then, if they had managed to hold their coins until March 13, 2024, when BTC reached its most recent all-time high, the $100 investment would have been worth $655,743.

After the first halving, the price of BTC shot up from $12.20 to around $1,000 by the end of 2023.

The second halving event happened on July 9, 2016. This brought the reward for mining a single block to 12.5 BTC. At the time, Bitcoin was valued at around $640. By July 2017, it had risen to $2,550.

May 11, 2020, brought the third and most recent halving event. Bitcoin mining rewards were reduced to 6.25 BTC per block and traded for about $8,750 at the time. Within a year, Bitcoin reached an all-time high of approximately $62,000.

With this years halving set to happen in mid-April, both the price of BTC and speculation surrounding the event have reached all-time highs. Analysts are predicting everything from around $75,000 just after the halving occurs to $250,000 or more within about a year of the halving.

As history has shown, the price of BTC has typically skyrocketed over the next year after halving events, but some drawbacks and recessions have occurred in the months between the date of the halving and upward momentum.

Its important to note that predictions concerning market movements are just that predictions. Nobody knows for sure whether Bitcoin will fall, moon or stabilize after the halving. However, history has seemingly favored the bold, with all-time highs tending to follow halving events.

Aside from concerns over price, there are unanswered questions surrounding network security in the post-halving world.

At the far end of the spectrum, there are potential security risks involved in the halving due to the potential for smaller miners to be forced out of the scene. With rewards slated to be reduced by 50%, those miners operating at the edge of profitability/loss could find themselves staked out of the rewards spectrum and seeking a sell-off or unaided exit.

Its possible a transient flux of mining availability could cause ripples throughout the Bitcoin network that reduce hash rates and lower overall security.

However, on the other end of the spectrum, previous halving events have had almost no discernible effect on overall network security, and many analysts are predicting smooth sailing for the network itself.

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Navigating post-halving landscape: What to expect for Bitcoin price and network security - Cointelegraph

Bitcoin’s shining a light on gold as debt fears drive investment into U.S. dollar alternatives – Wells Fargo – KITCO

(Kitco News) - Bitcoins rally to all-time highs above $73,000 per token is helping to fuel golds flight above $2,150 as a growing need for alternative currencies becomes insatiable, according to one market strategist.

In an interview with Kitco News last week, John LaForge, head of real assets at Wells Fargo, said that he expects this is only the start of golds move higher this year. The precious metal has already surpassed his initial year-end target of $2,100 an ounce.

While he is in the process of updating his price target, LaForge said that the journey is more important than the destination.

As to where gold is headed, LaForge said that investors should keep an eye on Bitcoin because the same factors are driving both assets.

Bitcoin is almost shining a light on gold, he said. The closer Bitcoin gets to becoming mainstream the more people realize what it is about. Many investors are starting to realize that maybe the current monetary system isnt perfect and needs to change; maybe all the debt were piling on isnt the best thing for the global economy. Maybe we need to find an alternative to the U.S. dollar.

Although the U.S. dollar is expected to remain the worlds reserve currency for the foreseeable future, Laforge said that it is disconcerting how much debt is being accumulated. According to recent calculations from Bank of America, the nations debt is growing by $1 trillion every 100 days.

LaForge added that along with the trajectory of debt, another concern is that there is no political will anywhere in Washington to change it. He pointed out that Democrats want to increase the deficit to pay for social programs; meanwhile, Republicans want to slash taxes, reducing government coffers.

It doesnt matter how we get there, but make no mistake, we are getting there, he said. Investors are looking at gold again because it really is starting to tell the story again of why money ultimately fails. Because time and time again, no paper money has ever survived time. It may take multiple centuries before that money fails, but it will fail.

Although Bitcoins lofty price gains have attracted more attention than gold, LaForge said that the precious metal has a much longer history as a store of value and lower volatility, which gives it a better edge as a hedge against the U.S. dollar debasement.

While gold is starting to attract attention from retail investors, the biggest driver for gold in the last few years has been central bank demand. LaForge explained that he expects central banks to continue to buy gold at an unprecedented pace to protect their currencies purchasing power. He added that because of the U.S. debt problems, nations want to hold fewer Treasuries.

The debt pile is not getting any smaller, so there is no reason why central banks would stop buying gold, he said.

Although Main Street has been reluctant to jump into precious metals, LaForge said this remains the markets greatest potential for a continued rally. Golds push above $2,220 has been driven mostly by momentum among speculative investors. LaForge said this has been one of the biggest breakouts despite lackluster investor demand he had ever seen.

Investment demand, driven by flows in gold-backed exchange-traded Funds, has picked up in recent weeks but still remains near multi-year lows.

LaForge said that he expects golds next wave higher to be driven by inflows into gold ETFs; however, he added that this wont come until the Federal Reserve unequivocally embarks on a new easing cycle.

At the same time, lower interest rates and higher inflation will ignite a significant rally in gold, he said.

Last week, the Federal Reserve signaled that it still sees the possibility of three rate cuts this year. At the same time, the central bank looks to cut interest rates even as inflation remains above its 2% target.

LaForge said that once investors realize that the Federal Reserve will be unable to bring inflation down to its 2% target, and as consumers get used to inflation above pre-pandemic levels, they will turn to gold to protect their purchasing power.

Disclaimer:The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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Bitcoin's shining a light on gold as debt fears drive investment into U.S. dollar alternatives - Wells Fargo - KITCO

BlackRock’s ETF could flip GBTC in Bitcoin holdings within 3 weeks – Cointelegraph

The amount of Bitcoin in BlackRocks spot Bitcoin ETF could overtake crypto asset manager Grayscales GBTC within the next three weeks, assuming no drastic changes in current flows.

As of March 22, BlackRocks iShares Bitcoin Trust ETF held 238,500 Bitcoin (BTC) on its books worth $15.5 billion at current prices and has seen average daily inflows of approximately $274 million, with around 4,120 in new Bitcoin entering the fund every day.

Meanwhile, the Grayscale Bitcoin Trust (GBTC) ETF still holds an estimated 350,252 BTC worth $23 billion at current prices. It has seen average daily outflows of roughly $277 million, or approximately 4,140 BTC daily, over the last two weeks.

Assuming no drastic changes in the rate of the inflows and outflows, BlackRock could overtake Grayscale in terms of total Bitcoin held by April 11.

This date could come even closer if BlackRocks inflows were to return to the prior weeks daily average inflow of 7,200 Bitcoin, meaning the flip could occur in 10 days.

BlackRock is going to flip Grayscale soon, YouTuber George Tung said in a March 20 video on his CryptosRUsYouTube channel.

If BlackRock surpasses Grayscale, it will officially become the world's largest institutional holder of Bitcoin.

Related: Bitcoin price clear for new record high as GBTC outflows drop to $170M

On March 18, GBTC notched a staggering $643 million in net outflows, its largest day of bleeding on record.

While the flows eased up a little since, the heightened volume of outflows saw several analysts warn of potential downward volatility in the price of Bitcoin.

Senior Bloomberg ETF analyst Eric Balchunas wasnt too concerned by the GBTC-led outflows and predicted the exodus could be over almost entirely within the next few weeks.

Additionally, Blachunas speculated that the majority of last weeks outflows came from bankruptcies of crypto firms such as Genesis and Digital Currency Group due to their size and consistency.

On March 10, BlackRocks spot Bitcoin ETF officially outpaced MicroStrategys holdings of the cryptocurrency. As of the time of publication, MicroStrategy holds 214,246 BTC on its books after purchasing an additional 9,000 BTC on March 19.

Magazine: Bitcoin ETFs make Coinbase a honeypot for hackers and governments Trezor CEO

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BlackRock's ETF could flip GBTC in Bitcoin holdings within 3 weeks - Cointelegraph

The Next Bitcoin Halving: What it Means for Investors – Morningstar

All eyes of the crypto community are on the next bitcoin halving, scheduled for mid-April.

This event, which occurs roughly every four years, is the fourth in the history of bitcoin and means that the miners' reward, following the approval of new blocks added to the blockchain, will fall by half. This will reduce the frequency of new BTC injected into the system, as the total amount of mined bitcoin edges closer to the maximum threshold of 21 million circulating units.

The first halving took place on 28 November 2012, after the first 210,000 blocks had been drawn. On that occasion, the reward was reduced to 25 coins per new block. After a further 210,000 blocks the reward fell to 12.5 bitcoins on 9 July 2016, and to 6.25 on 12 May 2020. With the upcoming halving it will fall from 6.25 to 3.125 BTC. This continues until 2140, when after the final halving, all 21 million tokens will be in circulation.

By reducing the reward for creating new blocks on the blockchain an expensive process requiring energy-hungry computers the incentive to produce new Bitcoins is theoretically reduced. Halving, therefore, has historically triggered supply shocks that, in turn, have generated greater interest and speculation within the crypto community.

Generally, halving seems to have triggered price increases in the past. According to research by crypto tax consultancy CoinLedger in the six months following the last two halvings, the value of BTC increased by 51% and 83% respectively. Of course, the value of Bitcoin in those days was far from what it is today: At the 2016 halving, one BTC was worth $650 and in 2020, $8,572.

The current market dynamics in which the halving will take place are unique in the history of cryptocurrency, prompting a reassessment of its potential impacts, according to a study published last week by the research team of 21Shares, the first issuer of ETPs on crypto in Europe.

The researchers said that the four-year halving effect gradually diminished over time, with each successive event leading to a decrease in growth rates in the value of bitcoin. For example, BTC surged about 5,500% in the four years following the first halving, by about 1,250% in the cycle following the second halving and by roughly 700% in the current cycle. This suggests an increasing maturity of the market.

Also, bitcoin is currently soaring close to its all-time high, whereas during past halvings it has traded 40% to 50% below prior highs.

One wild card in the current cycle has been the launch of cryptocurrency exchange-traded products. "BTC spot ETFs demonstrated staggering trading volumes, signaling significant interest from traditional investors by reaching a new all-time high of over $1 billion of inflows in a single day on March 13, 2024," 21Shares said.

Read more: Can I Buy a Bitcoin ETF in the UK?

Finally, the study's authors claim that the entry of institutional players is changing the overall 'habits' of bitcoin investors, with long-term holders becoming increasingly important and the amount of bitcoin held on exchanges at a five-year low.

If this trend were to persist, bitcoin's supply would become increasingly illiquid, setting the stage for a supply squeeze and consequently a potential sharp rise in price, say the analysts.

21Shares is, unsurprisingly, striking an optimistic tone on bitcoin. What seems certain, however, is that current supply and demand dynamics are very different from those of the past.

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The Next Bitcoin Halving: What it Means for Investors - Morningstar

Biotechnology CEO and inventor of SiriusXM Satellite Radio Martine Rothblatt to deliver graduation address to the … – EurekAlert

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Martine Rothblatt PhD, JD, MBA, Chairperson and CEO of United Therapeuticsand inventor of SiriusXM Satellite Radio.

Credit: United Therapeutics Corporation

University of Maryland School of Medicine (UMSOM) DeanMark T. Gladwin, MD, announced today thatMartine Rothblatt PhD, JD, MBA, Chairperson and CEO of United Therapeutics, and inventor of SiriusXM Satellite Radio, will deliver the keynote address for this years graduating medical student class. The UMSOM MD graduation ceremony will take place at the Hippodrome Theatre on Thursday, May 16, 2024.The ceremony will begin at 1:00 pm. Details for faculty members arehere. Details for students/guests arehere.

Dr. Rothblatt is a trailblazing pioneer of several innovations in biotechnology, pharmaceuticals, and satellite communications. After developing SiriusXM, she founded United Therapeutics, in an effort to find a cure for her daughters life-threatening illness, pulmonary arterial hypertension. Under Dr. Rothblatts leadership, United Therapeutics, headquartered in Silver Spring, Maryland, has become a large biotech company focused on engineering cell biology to develop new therapeutics and manufactured transplantable organs. Its monoclonal antibody has been approved to treat neuroblastoma, and its genetically modified pig hearts and kidneys were the first to be transplants into humans.

The biotech company funded and helped establish the Cardiac Xenotransplantation Program at the University of Maryland School of Medicine, which led to the worlds first two transplants of genetically-modified pig organs into living patients. Both patients were transplanted with pig hearts to treat their terminal heart failure and lived for more than a month.

The historic procedures were performed at the University of Maryland Medical Center byBartley Griffith, MD, Professor of Surgery and The Thomas E. and Alice Marie Hales Distinguished Professor in Transplantation at UMSOM andMuhammad M. Mohiuddin, MD, Professor of Surgery and Scientific/Program Director of the Cardiac Xenotransplantation Program at UMSOM.

We are thrilled to have Dr. Rothblatt address this distinguished class of up-and-coming physicians, said Dr. Gladwin who is the John Z. and Akiko K. Bowers Distinguished Professor and Dean of UMSOM, and Vice President for Medical Affairs at University of Maryland, Baltimore.Her contributions and groundbreaking developments in addressing lung disease, cancer, and the chronic organ shortage have had an immeasurable impact on the field of medicine. Shes a role model for our medical students, demonstrating that if you have the will to have a substantial impact, you can make it happen.

An attorney-entrepreneur, Dr. Rothblatt is a tireless advocate for human rights. In 1992, she led the International Bar Associations efforts in drafting the Universal Declaration on the Human Genome and Human Rights and has been a leading advocate for transgender acceptance. For her impacts in satellite communications, she was elected to the International Institute of Space Law and has represented the radio astronomy communitys scientific interests before the Federal Communications Commission.

Celebrated as a visionary, thought leader, and published author, Dr. Rothblatt is named One of 100 Greatest Living Business Minds byForbesand Most Powerful LGBTQ+ People in Tech byBusiness Insider.Her pioneering book,Your Life or Mine: How Geoethics Can Resolve the Conflict Between Private and Public Interests in Xenotransplantation, anticipated the need for global virus bio-surveillance and an expanded supply of transplantable organs. She is also the recipient of a Lifetime Achievement Award from the Maryland Tech Council.

Dr. Rothblatt is currently the inventor and co-inventor on nine U.S. patents, with additional applications pending.

She earned her PhD in Medical Ethics with a thesis in xenotransplantation from the Royal London College of Medicine and Dentistry and earned her JD and MBA from UCLA. She also studied astronomy at the University of Maryland College Park.

About the University of Maryland School of Medicine

Now in its third century, the University of Maryland School of Medicine was chartered in 1807 as the first public medical school in the United States. It continues today as one of the fastest growing, top-tier biomedical research enterprises in the world -- with 46 academic departments, centers, institutes, and programs, and a faculty of more than 3,000 physicians, scientists, and allied health professionals, including members of the National Academy of Medicine and the National Academy of Sciences, and a distinguished two-time winner of the Albert E. Lasker Award in Medical Research. With an operating budget of more than $1.2 billion, the School of Medicine works closely in partnership with the University of Maryland Medical Center and Medical System to provide research-intensive, academic, and clinically based care for nearly 2 million patients each year. The School of Medicine has more than $500 million in extramural funding, with most of its academic departments highly ranked among all medical schools in the nation in research funding. As one of the seven professional schools that make up the University of Maryland, Baltimore campus, the School of Medicine has a total population of nearly 9,000 faculty and staff, including 2,500 students, trainees, residents, and fellows. The School of Medicine, which ranks as the8th highestamong public medical schools in research productivity (according to the Association of American Medical Colleges profile) is an innovator in translational medicine, with 606 active patents and 52 start-up companies. In the latestU.S. News & World Reportranking of the Best Medical Schools, published in 2023, the UM School of Medicine isranked #10 among the 92 public medical schoolsin the U.S., and in the top 16 percent(#32) of all 192 public and privateU.S. medical schools. The School of Medicine works locally, nationally, and globally, with research and treatment facilities in 36 countries around the world. Visitmedschool.umaryland.edu

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Branched chemically modified poly(A) tails enhance the translation capacity of mRNA – Nature.com

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Ambition and urgency: Biotechnology and Biomanufacturing in the EU – EURACTIV

The Initiative Boosting Biotechnology and Biomanufacturing in the EU offers the promise, although not yet the commitment, for biotechnology in the EU at the scale and vision needed for global significance. EuropaBio looks inside and to the future.

Dr Claire Skentelbery is the Director General of EuropaBio.

Ambition, vision and urgency are the calls from EuropaBio for this promising initiative. The next Commission must combine long-term vision and bold ambitions with immediate and urgent attention to resolve existing barriers to growth. The world is accelerating industrial outputs from biotechnology, and we need to move with it. EuropaBio will be a partner and champion every step of the way to deliver Europes biotech future. Dr Claire Skentelbery, Director General of EuropaBio.

Europe welcomed the Biotechnology and Biomanufacturing Initiative on March 20. It brought recognition from the EU that biotechnology is one of the major global technologies shaping our health, food, and providing an industrial footprint with innovation, sustainability and resilience. The Initiative also recognizes the main bottlenecks, regulatory fragmentation, access to finance, value chain obstacles and informed public recognition.

Finally, it recognised the economic footprint of biotechnology and its vital role within a globally competitive region. Between 2008 2021, employment growth from biotech was seven times higher than Europes average, Gross Value Added grew 1.5 times as quickly, and productivity was 2.5 times higher. Europes research has thrived within biotechnology, creating thousands of start-ups, and enabling companies of all sizes to mature economic and societal value.

Let us not be modest about what biotech achieves. Healthcare biotechnology is becoming the primary source of new therapies, bringing previously untreatable diseases within reach, and transitioning from manage to cure with increasing frequency, freeing patients, families and healthcare systems.

Industrial Biotechnology holds the key to sustainable and innovative manufacturing, delivering novel products and more sustainable replacements, reducing reliance on fossil resources including energy, relieving pressure on ecosystems and strengthening supply chains, including food production, which are essential as the world aims to both ameliorate and adapt to climate change.

From Initiative to implementation

This is not the first policy roadshow for biotechnology in Europe. Way back in 2007, the Lead Market Initiative opened with the statement Developing an innovation-driven economy is crucial for competitiveness and in 2024, whilst biotech is showing its commercial speed, the EU lags other global regions for biotech performance.

This Initiative, released in the closing days of the current Commission has to take root, grow and flower quickly. It must rapidly transform rhetoric into policy and legislation action for competitiveness, enabling innovators to thrive, and creating long-term investment into infrastructures, employment, and skills in Europe. The ambition for a Biotech Act is laudable, but there is urgency for action now. Reports tomorrow are not a substitute for progress today.

A global game is Europe a player?

Europe is late to the game in recognizing and utilising biotechnology and biomanufacturing. EuropaBio has watched global regions publish comprehensive, funded, time and target-driven strategies, with the US, China, Japan, India and the UK building from their strong science foundations. The winners of this global race for biotechnology will hold primary market positions for novel medicines, resilient local manufacturing, and global supply chains, all underpinned by high value, high employment and high skills technology. It is essential that the EU is in this race to be a player rather than a customer.

The Initiative acknowledges the importance of global dialogue, shaping biotechnology above Europe. The WHO, WTO, Convention on Biological Diversity and its Cartagena Protocol on Biosafety, as well as the Kunming-Montreal Global Biodiversity Framework are all part of a harmonised global framework for biotechnology where the EC must have a clear voice.

Call it by its name

The Initiative directly references important applications and components of biotechnology; food and feed, environmental remediation, novel and alternative molecules for application across processes and sectors, advanced healthcare, with terminology including microorganisms, enzymes, mRNA, ATMPs, biorefineries, and bio-based products. This needs to continue and expand (fermentation is notable by its absence) as part of the visibility and recognition of biotechnology for all stakeholders, including policymakers at national and European level and the citizens whom benefits already reach.

Legislation for biotechnology innovation today

Recognising biotechnology innovation should be integral to our own legislative DNA, and yet at EU and Member State levels, we are already tying our own shoelaces together:

Built for biotechnology, built for Europe

The Initiative rightly identifies regulation as a critical component for economic and societal success of such a cross-cutting frontier technology. Complex, uncertain and opaque regulatory pathways create a market pathway too slow, costly and vague for investment.

Europe needs a future-looking and cross-cutting framework built for biotechnology, recognising its unique requirements and not retrofitting its systems built for chemistry, and streamlining and removing obstacles in existing regulations.

The introduction of regulatory sandboxes and simplified, accelerated pathways to market recognising the parameters of biotechnology are core to this. Regulation must mature alongside innovation and is part of successful industrial growth from Europes strong research base. An EU Biotech Hub will also provide welcome additional support for companies in navigating the complex and often overwhelming regulatory framework in all sectors.

The Initiative importantly identifies regulatory obstacles that arise at national or other governance levels which impede an effective single market which is urgent to address now. As the Enrico Letta report comes closer to publication, there is a risk of single market fragmentation for biotechnology products and processes through lack of coherence across the EC and MS. This represents an opportunity for Europe to lead global coherence for biotechnology.

Beyond regulations, the proposed Product Environmental Footprint (PEF) review brings a much needed focus on the sustainability benefits from products through the assessment of fossil-based and bio-based products to ensure equivalence. Biomass is another vital conversation for Europe as part of the initiative, with a fundamental need for sustainable, including primary, biomass. This creates a pathway for delivery for biotechnology throughout the value chain, from innovation to market and consumer.

A framework for finance

The Initiative addresses finance but must be more ambitious for investment growth, particularly for scale up and technology maturation to market, and it must also be explicit and vocal on technologies that it seeks to champion if the EU is to lead informed and engaged public narrative. Europes investment landscape is more fragmented and conservative than other regions.

Improving the investment landscape to enable the creation, financing, and maturation of European biotech companies will contribute to the restoration of the innovation ecosystem but also other industries. The easier emerging and small biotech will find it to secure investment and partners in Europe, the more likely they will be to stay and grow in Europe.

EuropaBio will be a travelling partner for the Initiative, from its promising early days to its delivery through legislation and implementation, with success measure in ambitions achieved and benefits measured for people and planet.

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Ambition and urgency: Biotechnology and Biomanufacturing in the EU - EURACTIV

Veterinary scene down under: Australian animal biotechnology company wins 2024 Pet Care Inno-vation Prize, and … – DVM 360

Shining a light on the illegal wildlife trade

Cameron Murray, BSc, BVMS, working with wildlife in Africa (Image Courtesy of Cameron Murray)

Away from the 4 small animal veterinary practices he co-owns, Cameron Murray, BSc, BVMS, has a strong interest in wildlife conservation. Starting with his involvement with SAVE African Rhino Foundation he is now also a director of the charity organization Nature Needs More, which is focused on demand reduction projects to diminish the illegal global wildlife trade.

Murrays passion for wildlife conservation has led him to playing a vital role in raising awareness of wildlife trafficking and educating veterinarians about how they can help make a difference. Nature Needs More works on tackling the key systemic enablers of the illegal wildlife trade, including consumer demand for wildlife products and the deficiencies in the legal trade system under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).

To give an understanding of the scale of the wildlife trade on a global basis, legal trade is currently estimated to be worth as much as USD$260-320 billion annually and if you include illegal trade this may be as high as USD$500 billion. The legal trade is monitored, regulated and managed, however that the legal and illegal trade are currently functionally inseparable, and until steps are taken to modernize the management of legal trade, the issue of illegal trade will remain an unwinnable battle, Murray explained to dvm360. Through Nature Needs More, were advocating for a program of modernization of CITES. This is because the landmark Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) Global Assessment Report on Biodiversity and Ecosystem Services report of 2019, suggested that 1 million species in the world face extinction, and that direct exploitation through trade was the biggest single threat to marine species and the second largest behind habitat loss for terrestrial and fresh water species.1

Analysis of CITES wildlife trade records and published literature has revealed massive numbers of animals are traded live every year, with many presumably destined for the exotic pet market. These records highlight the staggering numbers of species caught up in the global wildlife trade, with over 500 species of birdapproximately half of which are parrots, almost 500 species of reptilemostly turtles, lizards and snakes, and over 100 species of mammalmostly carnivores and primates, said Murray. For Australia this has particular relevance for our reptiles, which can be relatively easily smuggled. Sadly, smuggling Australian native species is considered a low-risk crime and there is significant financial motivation for criminals to illegally export Australian wildlife for the overseas exotic pet trade.

fieldofvision/stock.adobe.com

A 2021 report compiled Australian seizure data and international online trade data pertaining to shingleback lizards, found that all 4 subspecies were involved in illegal trade.2 This is important as 2 of these shingleback subspecies come from very limited ranges and populations. As such, a trade of this nature poses a real threat to species survival and biodiversity loss. All of us should be concerned with regard to the issues of biodiversity loss but in addition, the trade in wildlife also raises issues around animal welfare, zoonotic disease spread, biosecurity issues and more, Murray said.

Veterinarians can play an important role by having a stronger voice for change in the trade of wildlife, and as veterinarians we are well placed to play a stronger lead in the area. We should also be aware of the fact that there is active poaching of native species and be vigilant to this possibility. We also have an opportunity to see that penalties associated with wildlife crime are more of a deterrent and finally, I would encourage everyone to look behind the management systems of wildlife trade and consider joining me in advocating for a modernization of CITES, Murray added.

After working as a veterinarian for almost a decade, Peter Lau, BSc (Hons), BVMS, MBBS, FRACP, PhD, changed his focus and graduated in human medicine in 2007 before becoming a specialist medical oncologist. Currently based at Sir Charles Gairdner Hospital and Harry Perkins Institute of Medical Research in Perth, Lau and his colleagues Jonas Nilsson PhD, and Zlatibor Velickovic, PhD, are now at the forefront of cancer research in Australia with cellular immunotherapy for human melanoma patients.

Cell therapy using Tumor Infiltrating Lymphocytes (TILs) involves surgically removing a patients melanoma deposit, extracting out the T cells or lymphocytes which act against the cancer. We then grow those cells in a specialized laboratory expanding them to extremely high numbers in the order of billions. Patients are admitted into hospital, receive chemotherapy and then are injected with the TIL treatment which destroys the tumor. The technology for cellular immunotherapy was developed in Europe and the US but is not currently available in Australia. Our recent grant funding will go towards manufacturing this treatment for the first time in Australia, Lau explained exclusively to dvm360.

For decades metastatic melanoma has been a terrible cancer to treat but with immunotherapy such as pembrolizumab we can now literally save lives. These conventional immunotherapies dont work in all patients hence the need for new treatments like cell therapy. We do have a way to go in terms of curing everyone from the disease but cell therapy research like this can help close that gap. Its very satisfying to be at the forefront of treatment and cancer research.

Although Lau no longer works as a clinical veterinarian, he credits his early career in the veterinary profession with setting him up for success in the adjacent field of human medicine. My interest in immunology started a number of years ago listening to a talk from professor [Peter Doherty, PhD] at an Australian Veterinary Association Conference many years ago. Professor Doherty originally trained as a veterinarian and made key discoveries in how the immune system recognizes cells infected with viruses which led to a Nobel Prize. It was quiet an inspirational talk and I ended up in medicine as a result. Vet training did teach me a lot about persistence which is really needed with research, Lau said. Canine melanoma is also treated with similar drugs as we use in humans so its quite nice to see the benefit of these immunotherapies for our 4-legged friends.

VetChip, an Australian animal biotechnology company, won the 2024 Pet Care Innovation Prize, earning a cash prize and support from Purina. VetChip was 1 of 5 pet care startups from across the world that pitched their businesses to pet industry influencers and investors at the recent Global Pet Expo in Orlando, Florida.

The biotechnology company is dedicated to improving animal health and welfare through pioneering technology that monitors, analyses, and detects pet health issues. VetChip cofounder and veterinarian Garnett Hall, BVSc (Hons), travelled to the US for the event.

Garnett Hall, BVSc (Hons),VetChip co-founder (Image courtesy of VetChip)

"The VetChip team and I are extremely grateful for the support we have received from Purina through the Pet Care Innovation Prize. Developing technology like ours is incredibly difficult, and partnerships with leading animal health and technology companies are essential for us, said Hall exclusively to dvm360.

2024 is off to a great start, and the remainder of this year will see us commence pre-commercial trials in several of our key markets. I am looking forward to using our technology to improve the health, welfare and performance of military dogs and and performance horses before the end of the yearmore to announce soon.

VetChip has developed an innovative implantable smart microchip for animals that can monitor the animals temperature, heart rate, respiratory rate and tissue oxygenation. VetChip has many applications, including in companion animal practice, for primary producers enabling better herd health management, and for in equestrian sports and horse-racing.

References

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Veterinary scene down under: Australian animal biotechnology company wins 2024 Pet Care Inno-vation Prize, and ... - DVM 360

EU sets out plan to simplify biotech regulation and speed up approvals – Science Business

The European Commission is to look into how to speed up approvals for biotechnology, with a view to launching an EU Biotech Act in the next mandate, executive vice president Margrethe Vestager has announced.

Europe will not be attractive to businesses worldwide if permitting and other administrative procedures take much longer than in other parts of the world, she said, presenting the Commissions biotechnology and biomanufacturing initiative on 20 March.

In the meantime, it will establish an EU biotech hub by the end of this year, to enable biotech firms to better understand existing regulation, she said. The sector is already set to benefit from streamlined permitting procedures under the Net-Zero industry Act.

Applications of biotechnology and biomanufacturing range from replacing fossil fuels, to the discovery and development of new drugs for rare diseases, and bio-based alternatives to plastic and other materials. The EU funds research in the sector predominantly through the Circular Bio-based Europe Joint Undertaking (CBE JU), and more support is needed to help innovators scale up their technologies in Europe.

Regulatory complexity is one of three key obstacles to European competitiveness the new plan aims to address, alongside access to finance, and difficulties moving from research to the market.

The Commission is promising to review its Bioeconomy Strategy by the end of 2025, which could include a stronger industrial dimension.

To help companies scale up, the Commission will advocate for the inclusion of specific challenges on biotech and biomanufacturing in the European Innovation Council (EIC) accelerator work programme for 2025.

Europe cannot remain only a fantastic cradle of ideas for the rest of the world. What is born here should also have the opportunity to grow here, Vestager said.

To support the uptake of bio-manufactured products, the Commission will conduct an impact assessment for bio-based requirements in public procurement. It will further develop methodologies to ensure a fair comparison between fossil-based and bio-based products, as the latter are usually more expensive and their environmental benefits are not always apparent to consumers.

The EU is also betting on the potential of artificial intelligence to help companies scale up their operations. The 500 million GenAI4EU initiative aims to stimulate the uptake of generative AI in industries including biotech and biomanufacturing, and the Commission wants to give biotech firms access to EuroHPC supercomputers.

We want to make Europe a global biotech leader, said Vestager. With the potential to solve some of our most pressing problems, biotechnology also largely supports Europes economy, and it provides high-quality jobs.

Biotechnology can also pose a risk due to its dual-use potential, and the Commission is working with member states to assess the risk of technology leakage.

Biomanufacturing can be used to synthetically manufacture new molecules, said Vestager. These new molecules can have basic civilian uses, to produce sustainable pest repellents for instance. They can also be used in the military to produce new fuels for missiles.

Great first step

The biotech industry welcomed the announcements, which, coming so close to the European elections, mostly amount to identifying the major challenges and promising to address them at some point in the future.

To be competitive, the bio-based industries will require further action, including a sustainable supply of biomass and more stimulating measures for market uptake, such as bio-based content requirements under the new Ecodesign for Sustainable Products regulation, said Rob Beekers, chair of the Bio-based Industries Consortium, which represents the private sector in the CBE JU.

The new EU Parliament and EU Commission should make the bioeconomy and bio-based industries a political priority. Implementing the actions proposed in this communication would be a good start, he said.

Pauline Grimmer, policy manager at international nonprofit and think tank the Good Food Institute Europe, was also pleased to see the Commission recognise the measures that are needed.

While this is a great first step, for alternative protein startups to deliver on their potential to provide future-proof jobs and green growth, we now need to see this ambition translated into firm actions such as R&D funding, support to scale-up production and provide a clear and transparent regulatory framework, she said.

Claire Skentelbery, director general of industry association EuropaBio, said the initiative shows the Commission has listened to the industrys priorities. I think it's as promising as it can be for something that is a theoretical exercise. It shows intent to pick this up in the next Commission, she told Science|Business.

Clearer and faster regulatory pathways in the US are currently a major obstacle to European competitiveness. If you've got investors within the EU, they are going to push you to launch in the US first, Skentelbery said.

While a future EU Biotech Act is a positive long-term goal, theres a lot we can do in the short term thats going to be more beneficial, she added.

For example, the Commission and member states should work together on more standardised guidance for manufacturing using industrial biotechnology, while regulatory agencies are also in need of more resources to speed up approvals.

As the focus turns to implementation in the months and years ahead, EuropaBio wants to ensure any changes benefit startups and SMEs. Because its frontier technology, it really lies with the small innovators that spin out and start up companies around scientific advances, Skentelbery said.

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EU sets out plan to simplify biotech regulation and speed up approvals - Science Business

Exploring Ag Biotech Careers with University of Connecticut 4-H – National Institute of Food and Agriculture

USDAs National Institute of Food and Agriculture supports a variety of programs that prioritize educating the nations future professionals for these vital sectors of the economy. A University of Connecticut Extension program, supported by a program within NIFAs Agriculture and Food Research Initiative program, is opening doors for young people in the state to pursue those types of careers.

It is great to see 4-Hers learning about agricultural biotechnology, as well as future career opportunities in the field, said Dr. Manoharan Muthusamy, acting division director for NIFAs Division of Youth and 4-H. Efforts to provide real-world learning experiences and mentorship are essential to achieve our goal of building a highly skilled and diverse workforce in the food and agricultural sciences.

Read on to learn more about one participants journey.

The following was first published by the University of Connecticut and is reprinted with permission.

A decision to join an agriculture and biotechnology program offered by UConn 4-H became a catalyst for Zuzanna Rogowski, opening the door to new opportunities and potential careers. It all started when the Middletown High School junior learned about the 4-H program through her high schools agriscience program.

I was convinced that I wanted to go into biotech and medical school, Rogowski says. When I found out about the 4-H agricultural biotech program, I thought it was a good way to determine if it would be a good career for me.

Now, she says she feels she has more options and is also considering teaching the biotech class for a high school agriscience program. I didnt know that I could teach biotech in an agriscience program, the UConn 4-H biotechnology program opened up more careers and opportunities for me.

Advancing 4-H Youth Careers in Food and Agriculture via Biotechnology and STEM is a program that UConn Extension started offering in fall 2022. Jen Cushman, associate extension educator and state 4-H program leader, created the new initiative with team members from UConn and New Mexico State University.

The program helps youth build knowledge and career awareness as they learn about how biotechnology supports crops through climate resilience, CRISPR technology, and basic lab techniques, says Cushman. Youth members discuss and learn about the evolving field of agricultural biotechnology and what scientists worldwide are studying.

The program is built on the 4-H fundamentals of belonging, mastery, independenceand generosity.

Ive learned about the opportunities I have and what I can do in the future, Rogowski says. We spoke to UConn professors and met students. The connections the club has to the different workforce areas are my favorite part. The presentations from professionals showed how many options there are.

Rogowski completed CRISPR and gene mutation research, which aligned with her interest of bringing extinct animals back. She presented her ideas to the teams from New Mexico State University and UConn in March 2023 and continues her program involvement.

Opening Doors with 4-H

Amanda Thomson is a UConn 4-H volunteer in Middlesex County and an agriscience teacher at Middletown High School. She encouraged Rogowski to join the local 4-H club during her sophomore year in addition to the 4-H agriculture and biotechnology program.

The UConn 4-H program has provided many wonderful leadership and experiential learning opportunities for our members; it helps connect our members to real-world experiences, to one another, and to adult role models. Several of our members have discovered their career pathways by participating in the 4-H program, Thomson says.

Rogowski first joined the club and became the assistant coordinator for the Home Arts department at the Middlesex-New Haven 4-H Fair.

I was covering for someone at my first Fairboard meeting and didnt know what to do. Kate Yale, a UConn 4-H volunteer, told me it would all be fine, 4-H isnt a place that judges you, she made me really comfortable. 4-H is more fun than fear, I was scared to present the committee report at first, but quickly became comfortable doing it and the fear fell away and it became fun.

Rogowski also received a scholarship from the 4-H biotechnology and agriculture program to attend Ignite by 4-H, a national conference in Washington D.C. in March of 2023. Youth apply for the trip, are interviewed, and selections are made. The inclusive teen event offers workshops and programs, and gives youth the opportunity to learn, connect and share their ideas.

It was the opportunity of a lifetime and showed me that my career path is one I will enjoy, Rogowski reflects. It also showed me that no matter where you are from, a job isnt about money or credit, its about helping people in the future while helping myself. Ignite was cool because I met so many people and was introduced to perspectives other than my own. There were youth there from Alaska, Puerto Rico, and other places. It was a reality check that not everyone lives the way you do.

Last April, she attended UConn 4-H Citizenship Day at the Capitol in Hartford and experienced different government processes and met other 4-H youth from around the state. Two encouraged her to apply for the UConn 4-H Teen Council, and in November 2023, she began her service with the group.

Through 4-H I have seen Zuzanna grow as a leader and advocate. She has developed her knowledge of STEM-related activities and careers, demonstrated confidence as a public speaker, and discover how to work effectively as a team member, Thomson continues. Being selected as a state delegate to attend the Ignite conference in Washington, D.C. was a literal game changer; as its name implies, that experience truly lit a fire in Zuzanna that has spilled over to all other aspects of her life as a student, athlete, and leader. I am excited to see where 4-H leads her next.

Rogowski wants to become a state FFA officer, apply to UConn where she plants to major in agriscience education, and become a UConn 4-H mentor and volunteer in the future. She also has plans to volunteer internationally after completing her degree.

My best memory of 4-H is becoming part of the family and having people in 4-H around me, Rogowski concludes. Theres something for everyone in UConn 4-H and its warm and welcoming. We have mechanics, crafts, archery your project can be anything you choose it to be. 4-H has a place in your life no matter your age, ethnicity and what you like to do.

Advancing 4-H Youth Careers in Food and Agriculture via Biotechnology and STEM is supported by the Food and Agriculture Nonformal Education program, grant 2022-68018-36094 from the USDA National Institute of Food and Agriculture.

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Exploring Ag Biotech Careers with University of Connecticut 4-H - National Institute of Food and Agriculture

Investor Optimism Abounds Shandong Boan Biotechnology Co., Ltd. (HKG:6955) But Growth Is Lacking – Simply Wall St

With a median price-to-sales (or "P/S") ratio of close to 9x in the Biotechs industry in Hong Kong, you could be forgiven for feeling indifferent about Shandong Boan Biotechnology Co., Ltd.'s (HKG:6955) P/S ratio of 7.7x. However, investors might be overlooking a clear opportunity or potential setback if there is no rational basis for the P/S.

View our latest analysis for Shandong Boan Biotechnology

Shandong Boan Biotechnology could be doing better as it's been growing revenue less than most other companies lately. One possibility is that the P/S ratio is moderate because investors think this lacklustre revenue performance will turn around. However, if this isn't the case, investors might get caught out paying too much for the stock.

There's an inherent assumption that a company should be matching the industry for P/S ratios like Shandong Boan Biotechnology's to be considered reasonable.

Taking a look back first, we see that the company grew revenue by an impressive 20% last year. Still, revenue has barely risen at all from three years ago in total, which is not ideal. Accordingly, shareholders probably wouldn't have been overly satisfied with the unstable medium-term growth rates.

Turning to the outlook, the next three years should generate growth of 40% per annum as estimated by the only analyst watching the company. With the industry predicted to deliver 69% growth per annum, the company is positioned for a weaker revenue result.

With this in mind, we find it intriguing that Shandong Boan Biotechnology's P/S is closely matching its industry peers. It seems most investors are ignoring the fairly limited growth expectations and are willing to pay up for exposure to the stock. These shareholders may be setting themselves up for future disappointment if the P/S falls to levels more in line with the growth outlook.

Using the price-to-sales ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.

Given that Shandong Boan Biotechnology's revenue growth projections are relatively subdued in comparison to the wider industry, it comes as a surprise to see it trading at its current P/S ratio. When we see companies with a relatively weaker revenue outlook compared to the industry, we suspect the share price is at risk of declining, sending the moderate P/S lower. This places shareholders' investments at risk and potential investors in danger of paying an unnecessary premium.

You always need to take note of risks, for example - Shandong Boan Biotechnology has 1 warning sign we think you should be aware of.

If strong companies turning a profit tickle your fancy, then you'll want to check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).

Find out whether Shandong Boan Biotechnology is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Investor Optimism Abounds Shandong Boan Biotechnology Co., Ltd. (HKG:6955) But Growth Is Lacking - Simply Wall St

6 biotechnology universities in the UK leading the way for future talent – Labiotech.eu

The U.K. has a selection of world-class universities offering biotechnology courses, whether students are looking for undergraduate or graduate programs. The country is also home to the golden triangle, encompassing the biotech hubs of Oxford, Cambridge, and London, all of which boast some of the worlds best universities for biotechnology.

In this article, we have listed six of the top biotechnology universities in the U.K.

Known for its academic excellence, the University of Cambridge has given rise to numerous famous science graduates, including Sir Isaac Newton, Charles Darwin, and Stephen Hawking.

The universitys Department of Chemical Engineering and Biotechnology offers an undergraduate course in Chemical Engineering and Biotechnology, which integrates the two topics together and teaches students the scientific principles that underpin them both, as well as how they can be applied to solve real-world problems.

Graduates of the course can expect to find careers such as: creating chemical and biological processes to transform molecules into valuable products; designing chemical and biological products for the benefit of society; using new technologies to facilitate the energy transition away from fossil fuels and to mitigate the effects of climate change; provision of improved healthcare and therapeutics; and using systems thinking to improve the sustainability of processes and products.

As well as the combined topic undergraduate course, the university also offers a Master of Philosophy (MPhil) specifically in Biotechnology. The program is designed to provide students with core and advanced knowledge skills, practical and research skills, and business skills in biotechnology.

To help matters further, the historic city of Cambridge itself happens to be a major biotech hub within the U.K. and is home to numerous startups and well-established companies, offering prospective graduates plenty of opportunities to get a job in the biotech industry once they leave university.

Just like the University of Cambridge, the University of Oxford is world-renowned for its academic prestige and is situated in another major biotech hub in the U.K., in the historic city of Oxford.

Even more impressive is the fact that the University of Oxford helped to develop one of the first COVID-19 vaccines with AstraZeneca, which just goes to show how much of a powerhouse it is in terms of scientific research.

This U.K. university offers two undergraduate courses related to biotechnology, which are Biomedical Sciences and Biochemistry. The Biomedical Sciences program focuses on how cells, organs, and systems function in the human body, while the Biochemistry program involves learning about the use of molecular methods to investigate, explain, and manipulate biological processes.

There are also a number of graduate programs to choose from at the University of Oxford, including a Doctor of Philosophy (PhD) in Biochemistry and a Master of Science (MSc) in Biochemistry, both of which aim to train students in cutting-edge laboratory research applying techniques in bionanotechnology, biophysics, computational biology, microscopy, molecular biology, structural biology, and systems biology to a broad range of fields including cell biology, chromosome biology, drug discovery, epigenetics, host-pathogen interactions, membrane proteins, ion channels and transporters, and RNA biology.

Additionally, a PhD course is available in Interdisciplinary Bioscience, which is a four-year course supported by the Biotechnology and Biological Sciences Research Council (BBSRC) that provides innovative training for graduates from a life science, physical science or computational and mathematical science background who wish to conduct leading-edge bioscience research.

Another one of the most prestigious universities in the U.K., based in the nations capital, Imperial College London (ICL) runs multiple undergraduate and graduate courses related to biotechnology, and is perhaps one of the most exciting universities in the U.K. to study biotech due to the array of options available.

The university has an undergraduate course in Biotechnology, which explores the vital links between biology and technology and teaches how bioprocesses can be applied to real-world situations. During the course, students will gain hands-on lab skills, while also learning about applications, industry, and entrepreneurship. There is even an optional year abroad or a year in industry/research. As well as simply studying biotechnology on its own, students can choose to take Biotechnology with Language for Science to advance language skills, or Biotechnology with Management to develop management potential.

Other undergraduate degrees offered at ICL that could offer you a career in biotechnology include Biomaterials and Tissue Engineering, Molecular Bioengineering, and Biochemistry.

ICLs graduate programs include three MSc courses. One is in Applied Biosciences and Biotechnology, which will provide students with an in-depth understanding of modern bioscience research and allow them to acquire the skills necessary to pursue a career in the field. Meanwhile, the second MSc course is Engineering for Biomedicine, in which students will learn how to tackle modern healthcare challenges with bioengineering technology, and the third course is Advanced Chemical Engineering with Biotechnology, which will provide students with a firm foundation in the science and engineering of biological processes.

And, for those more interested in active research, there are four Master of Research (MRes) programs available: Biological and Physical Chemistry, in which you can tackle the multidisciplinary problems that lie between life sciences and physical sciences; Cancer Technology, in which you can develop a unique understanding of cancer from a bioengineering perspective; Chemical Biology and Bio-Entrepreneurship, whereby you can learn the skills needed to address future scientific challenges in chemical biology; and Drug Discovery and Development, in which you can build your expertise in multidisciplinary drug discovery research and explore emerging technologies.

Another one of Londons prestigious universities is University College London (UCL). It is considered one of the top universities in the U.K. for courses that combine biotechnology skills with pharmaceutical management skills.

This is because it offers an MSc in Biotech and Pharmaceutical Management that focuses on the business and management of biotechnology and pharmaceutical ventures, as well as a Drug Discovery and Pharma Management MSc, which was introduced by UCL as a spin-off from the MSc Drug Discovery in response to the increasing opportunities which now exist for research scientists who can evaluate the business potential of their science as well as generate the science itself.

There are also undergraduate courses at UCL that students can take to help them launch a career in biotechnology. The UCL Department of Biochemical Engineering offers two main undergraduate programs. These are a Bachelor of Engineering (BEng) in Biochemical Engineering and a Bachelor of Science (BSc) in Bioprocessing of New Medicines (Business and Management). The BEng in Biochemical Engineering fully integrates engineering and biotechnology and is ideal for those who would like to explore careers in the biotechnology, pharmaceutical, or bioenergy sectors, while the BSc in Bioprocessing of New Medicines is designed to give students a firm grounding in both the science of bioprocessing and the management of new emerging technologies in healthcare.

Additionally, the university offers a Master of Engineering (MEng) in Biochemical Engineering, which is a four-year program that builds upon the BEng, enabling students to gain research skills. An MSc in Biochemical Engineering is also available to take, plus postgraduates can build on this even further, and have the opportunity to complete a PhD in Biochemical Engineering, too.

The University of Edinburgh is a top biotechnology university in the U.K. and is home to the Institute of Quantitive Biology, Biochemistry and Biotechnology, which brings together researchers from a range of backgrounds to tackle fundamental questions in biology and to develop biology-based solutions to real-world problems.

As well as offering a BSc in Biological Sciences, which gives a broad overview of the subject area, the university offers students the opportunity to specialize within Biological Sciences, including a BSc in Biological Sciences with a focus on biotechnology. In this program, students will explore areas including microbial biotechnology, genetic and cloning technologies, drug design, plant cell technology, synthetic biology, stem cells, and biological production methods.

There are also 12 other Biological Sciences degrees, with focus areas such as biochemistry, cell biology, genetics, and immunology.

The university also offers an MSc specifically in Biotechnology. Here, students will learn research and development skills to enable the creation of new products and services, investigate the economic basis for current biotechnology structures and areas of future demand, including the global pharmaceutical industry and carbon sequestration, learn how technology can be applied to solve pressing real-world biological problems, and gain the skills and expertise needed for future developments in biotechnology.

Furthermore, there is the option of an MSc in Synthetic Biology and Biotechnology, in which students will have the opportunity to develop the skills and knowledge necessary for developing innovative solutions and tackling the pressing global challenges we are facing, such as rapidly changing human demographics and resulting health pressures, growing demand for more and healthier food, resource shortages, and sustainable fuel transition and a cleaner environment.

The University of Manchester only offers a few biotechnology-related courses, but considering it is home to the Manchester Institute of Biotechnology, it is considered one of the best universities to study biotech in the U.K.

The institute was founded in 2006 to facilitate cross-disciplinary research to develop new biotechnologies that have applications in human health, the energy economy, food security, and the environment, and currently has more than 40 research groups that lead a portfolio of pioneering research projects that continue to advance our knowledge and uses of biotechnology.

The University of Manchester offers a 3-year BSc Biotechnology undergraduate program, in which students can develop a comprehensive understanding of science, technology and business management, and collaborate with entrepreneurs on a project to develop a business plan for real life sciences products. There is also the option to do a four-year BSc program in Biotechnology with Industrial/Professional Experience, in which students can spend the third year of their degree gaining valuable work experience to enhance their CV, with a choice of placements from placements all over the world.

In terms of graduate degrees, the university provides students with the opportunity to complete an MSc in Biotechnology and Enterprise. Here, students will learn how to turn scientific discoveries into inventions and commercial products and develop research skills in biotechnology and scientific knowledge applicable to a range of careers, including working as a consultant, in business development, as a research and development manager, patent engineer and technical specialist, or continuing research in a PhD program.

Over the years, there have been numerous biotech companies that have spun out of U.K. universities, which just goes to show the quality of research being conducted at the top universities in the country. In fact, the University of Oxford, the University of Cambridge, and ICL were all recently listed as the U.K.s most prolific universities when it comes to filing patent applications and producing startup spinouts with a focus on biotech, as well as artificial intelligence (AI) and greentech. Many of the top biotechnology universities in the U.K. also have partnerships with U.K.-based biotech companies. Perhaps one of the best examples of this is biotech company Apollo Therapeutics, which has core innovation sourcing and drug discovery collaborations with the University of Cambridge, UCL, ICL, and Kings College London, allowing it to translate some of the world-leading basic biomedical research conducted in the U.K. into innovative new therapies.

Partnering 2030: The Biotech Perspective 2023

Download Inparts latest report revealing the priorities of out-licensers worldwide.

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6 biotechnology universities in the UK leading the way for future talent - Labiotech.eu

Bioengineering to achieve carbon neutrality – EurekAlert

It is difficult to go even one day without hearing terms that are intended to promote efforts to protect the global environment such as carbon neutrality, SDGs (Sustainable Development Goals), and ESG (Environmental, Social, and Governance) management. To achieve the Japanese and other state governments goal of balancing greenhouse gas (GHG) emissions by 2050, major technological breakthroughs are needed. Professor HASUNUMA Tomohisa (applied biochemistry, metabolic engineering), Director of the Engineering Biology Research Center, is a leading researcher in biotechnology. He uses genetically engineered smart cells of yeast,E. coli, and other bacteria to efficiently produce useful substitutes for petroleum and high valueadded functional materials. We interviewed Professor HASUNUMA, who is working to construct a next-generation, cross-disciplinary biorefinery that integrates biotechnology and digital technology, about his progress in his cutting-edge research.

Professor Hasunuma, you began as a researcher when you studied fermentation engineering at university. What was your motivation to major in fermentation engineering?

Hasunuma:I first became interested in biotechnology when my high school chemistry teacher stated that the age of biotechnology would come. Those words sparked my curiosity in biotechnology and I thought, I want to study living organisms at the molecular level based on chemistry, and then apply the research results to practical applications. I entered the Department of Biotechnology, Graduate School of Engineering, Osaka University, which was the center of fermentation science in Japan, and then continued to the doctoral course. The origin of microbial biotechnology is the study of brewing and fermentation of sake, miso, soy sauce, and other fermentable products.

As a student of Osaka University and a researcher of the Research Institute of Innovative Technology for the Earth (RITE), I studied plant biotechnology for carbon dioxide (CO2) reduction and worked on topics related to CO2reduction through vegetation expansion and material production. However, advances in research take a long time because higher plants have complex structures, which include roots, trunks, leaves, and other organs. Consistent with the change in RITEs research policy, I shifted my research focus to the cellular level with an emphasis on microorganisms, which are very simple.

Then you moved to Kobe University. Tell us more about that.

Hasunuma:When I started working at Kobe University in 2008, Professor FUKUDA Hideki, the former President of Kobe University and Professor KONDO Akihiko, the first Dean of the Graduate School of Science, Technology and Innovation, started an advanced fusion project called iBioK (Innovative BioProduction Kobe). With a grant of several billion yen over 11 years from the Japan Science and Technology Agency (JST), iBioK brought the best researchers in Japan to Kobe University to work on research and development of biorefinery. More than a dozen companies also participated. The project involved the construction of a value chain spanning the pretreatment of biomass, breeding of microorganisms, fermentation (material production), and separation and recovery of useful substances.

Will you please explain biorefinery?

Hasunuma:Biorefinery is an environmentally friendly technology that uses plants, which are sustainable resources, as raw materials to produce alternatives to fossil fuels and petrochemical products. The core of this technology is fermentation. Consequently, practical applications are difficult to achieve without improving the function of living organisms. In fact, in the 1990s, the realization of genome analysis technology to decipher entire genetic sequences of model organisms led to the so-called biotechnology boom. This boom attracted the attention of chemical and energy companies. Although bioproduction was attempted, this boom faded around 2000 because the organisms could not be controlled as expected and costs were high. Since then, advances in genome modification technology have made it possible to precisely control microorganisms. Additionally, the Paris Agreement signed in 2015 and the SDGs adopted by the United Nations have increased the global awareness of environmental issues. Under this context, expectations for the use of biotechnology in the bioeconomy and biomanufacturing have risen.

Can you tell us about the role of your research?

Hasunuma:Practical biorefineries will not be realized unless the production efficiency of useful substances by microorganisms is increased. Therefore, the Smart Cell Project, which aimed to develop microorganisms with a maximized substance production capacity, was implemented for 5 years starting in 2016. I participated as the R&D director. With funds totaling several billion yen from the New Energy and Industrial Technology Development Organization, a Japanese governmental R&D funding agency, the project united talented researchers across Japan, 16 universities, and 4 research institutes. Today, related research is ongoing and the technology is being developed.

Nowadays, it is not possible to survive the global R&D competition using only human power to manipulate, culture, and evaluate the production efficiency of genes of yeast,E. coli, etc. Advances in apparatuses that automate experiments have made it possible to develop smart cells more than ten times faster than manual work. At the end of 2021, we launched an autonomous experiment system called Autonomous Lab with Shimadzu Corporation. The Autonomous Lab integrates technologies and research results from different fields, including biotechnology, artificial intelligence (AI), and robotics. We call it biofoundry in an analogy to the foundries, which are semiconductor manufacturing plants. In Japan, Kobe University is the only university involved in such autonomous experimental efforts.

The biofoundry project has been selected for Kobe Universitys own Fostering Joint International Research.* You will be working on joint research with universities in the United States, Germany, France, the United Kingdom, China, Singapore, Taiwan, South Africa, and other countries. Can you tell us more about this project?

Hasunuma:The lab covers broad research themes as many things have yet to be understood. For example, how do smart cells grow and respond to environmental stresses? It is important to collaborate with researchers around the world to absorb missing knowledge and bolster our research. Due to the global presence of Kobe University, leading researchers from around the world are motivated to work with us. We will pursue research outcomes that cannot be achieved by Japanese researchers alone through international joint research.

You have founded a university-originating startup company with the aim of practical applications of research results, namely social implementation. Tell us more about this company.

Hasunuma:Yes, I am a technical advisor to Bacchus Bio Innovation, which I started with the encouragement of management experts at the Graduate School of Science, Technology and Innovation, Kobe University. Early-stage research is carried out at the university, but when the path to commercialization becomes clear, the research is handed over to Bacchus. For example, once highly efficient smart cells have been developed at the laboratory level, Bacchus will cultivate these smart cells in large quantities and deploy them in companies engaged in industrial production. We hope to achieve bio-first production, in which microorganisms are used to create not only petrochemical products such as fuels and plastics, but also cosmetics, supplements, and various other substances.

With the biofoundry in a full-scale operation, research is expected to accelerate. What are some of your mid- to long-term goals?

Hasunuma:As a researcher, I would like to clarify the reaction mechanisms occurring in living cells and to accurately understand metabolic mechanisms and other processes at the molecular level. As an engineer, I would like to develop technologies that can be linked to actual manufacturing and share the results of my research with the world.

Most importantly, we need to train more researchers in this field. There are not enough researchers who are familiar with both biotechnology and digital technology. In addition, there are not enough biotech researchers interested in robotics. Not only would I like to foster young researchers in these cross-disciplinary fields, but also like for them to gain international experience and expand their personal networks with overseas researchers. Executive Vice President KONDO guided me personally and cultivated my skills. Now, I have built a network of contacts with a variety of people, including those overseas. I believe that it is important to share such experiences with the next generation. Since it is crucial to integrate a wide range of research, I would like Kobe University to become an international center where talented individuals can gather to create a unique network of individuals whom we have fostered.

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Bioengineering to achieve carbon neutrality - EurekAlert

White House Unveils National Bioeconomy Board – Executive Gov

The White House has launched the National Bioeconomy Board to work with public and private sectors to advance national security, competitiveness, economic productivity and sustainability through biotechnology and biomanufacturing.

The Office of Science and Technology Policy, the Department of Defense and the Department of Commerce co-chair the board, which includes representatives from nine additional federal agencies and departments, including the Department of Health and Human Services, NASA and the National Science Foundation, the White House said Friday.

The creation of the board is part of President Joe Bidens Investing in America agenda.

The boards efforts will complement the administrations implementation of the bioeconomy executive order signed in September 2022.

Some of the actions are the release of a lexicon by the National Institute of Standards and Technology to support risk assessments of the bioeconomy, the launch of an action plan to broaden biotechnology and biomanufacturing education and job training programs in the U.S. and the publication of a report on the establishment of a resilient biomass supply by the Department of Agriculture.

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White House Unveils National Bioeconomy Board - Executive Gov

Americans’ use of ChatGPT is ticking up, but few trust its election information – Pew Research Center

Its been more than a year since ChatGPTs public debut set the tech world abuzz. And Americans use of the chatbot is ticking up: 23% of U.S. adults say they have ever used it, according to a Pew Research Center survey conducted in February, up from 18% in July 2023.

The February survey also asked Americans about several ways they might use ChatGPT, including for workplace tasks, for learning and for fun. While growing shares of Americans are using the chatbot for these purposes, the public is more wary than not of what the chatbot might tell them about the 2024 U.S. presidential election. About four-in-ten adults have not too much or no trust in the election information that comes from ChatGPT. By comparison, just 2% have a great deal or quite a bit of trust.

Pew Research Center conducted this study to understand Americans use of ChatGPT and their attitudes about the chatbot. For this analysis, we surveyed 10,133 U.S. adults from Feb. 7 to Feb. 11, 2024.

Everyone who took part in the survey is a member of the Centers American Trends Panel (ATP), an online survey panel that is recruited through national, random sampling of residential addresses. This way, nearly all U.S. adults have a chance of selection. The survey is weighted to be representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, education and other categories. Read more about the ATPs methodology.

Here are the questions used for this analysis, along with responses, and the survey methodology.

Below well look more closely at:

Most Americans still havent used the chatbot, despite the uptick since our July 2023 survey on this topic. But some groups remain far more likely to have used it than others.

Differences by age

Adults under 30 stand out: 43% of these young adults have used ChatGPT, up 10 percentage points since last summer. Use of the chatbot is also up slightly among those ages 30 to 49 and 50 to 64. Still, these groups remain less likely than their younger peers to have used the technology. Just 6% of Americans 65 and up have used ChatGPT.

Differences by education

Highly educated adults are most likely to have used ChatGPT: 37% of those with a postgraduate or other advanced degree have done so, up 8 points since July 2023. This group is more likely to have used ChatGPT than those with a bachelors degree only (29%), some college experience (23%) or a high school diploma or less (12%).

Since March 2023, weve also tracked three potential reasons Americans might use ChatGPT: for work, to learn something new or for entertainment.

The share of employed Americans who have used ChatGPT on the job increased from 8% in March 2023 to 20% in February 2024, including an 8-point increase since July.

Turning to U.S. adults overall, about one-in-five have used ChatGPT to learn something new (17%) or for entertainment (17%). These shares have increased from about one-in-ten in March 2023.

Differences by age

Use of ChatGPT for work, learning or entertainment has largely risen across age groups over the past year. Still, there are striking differences between these groups (those 18 to 29, 30 to 49, and 50 and older).

For example, about three-in-ten employed adults under 30 (31%) say they have used it for tasks at work up 19 points from a year ago, with much of that increase happening since July. These younger workers are more likely than their older peers to have used ChatGPT in this way.

Adults under 30 also stand out in using the chatbot for learning. And when it comes to entertainment, those under 50 are more likely than older adults to use ChatGPT for this purpose.

Differences by education

A third of employed Americans with a postgraduate degree have used ChatGPT for work, compared with smaller shares of workers who have a bachelors degree only (25%), some college (19%) or a high school diploma or less (8%).

Those shares have each roughly tripled since March 2023 for workers with a postgraduate degree, bachelors degree or some college. Among workers with a high school diploma or less, use is statistically unchanged from a year ago.

Using ChatGPT for other purposes also varies by education level, though the patterns are slightly different. For example, a quarter each of postgraduate and bachelors degree-holders have used ChatGPT for learning, compared with 16% of those with some college experience and 11% of those with a high school diploma or less education. Each of these shares is up from a year ago.

With more people using ChatGPT, we also wanted to understand whether Americans trust the information they get from it, particularly in the context of U.S. politics.

About four-in-ten Americans (38%) dont trust the information that comes from ChatGPT about the 2024 U.S. presidential election that is, they say they have not too much trust (18%) or no trust at all (20%).

A mere 2% have a great deal or quite a bit of trust, while 10% have some trust.

Another 15% arent sure, while 34% have not heard of ChatGPT.

Distrust far outweighs trust regardless of political party. About four-in-ten Republicans and Democrats alike (including those who lean toward each party) have not too much or no trust at all in ChatGPTs election information.

Notably, however, very few Americans have actually used the chatbot to find information about the presidential election: Just 2% of adults say they have done so, including 2% of Democrats and Democratic-leaning independents and 1% of Republicans and GOP leaners.

These survey findings come amid growing national attention on chatbots and misinformation. Several tech companies have recently pledged to prevent the misuse of artificial intelligence including chatbots in this years election. But recent reports suggest chatbots themselves may provide misleading answers to election-related questions.

Note: Here are the questions used for this analysis, along with responses, and the survey its methodology.

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Americans' use of ChatGPT is ticking up, but few trust its election information - Pew Research Center