EDITORIAL: Must put an end to the struggle – Barbados Advocate

This SaturdayBarbados will commemorate the August 1, 1834 abolition of slavery in the British colonies. Indeed it is a day to celebrate, as it brought an end to the horrific enslavement of the descendants of the millions of Africans who were uprooted from their homes and shipped to the Caribbean like nothing more than cargo.

Estimates suggest that close to 12 million Africans made the trip across the Atlantic Ocean in the Transatlantic Slave Trade and even though countless died along the way, still many survived and it was on their backs, at the expense of their lives and freedom that the planter class made their fortunes fortunes that many of their descendants continue to enjoy to this day. On the other hand, African slaves endured an injustice of the highest proportion - an injustice that must never be forgotten nor excused.

Sadly, however, there have been concerted efforts here in the region and further afield to encourage persons to disregard the atrocities of the past, but those of African descendants have a duty to ensure that such is never the case. As a country and a region we cannot afford to forget, and it is equally important that we do not allow the past to haunt us. Instead, we must see the past as stepping stones to help us in the construction of a better future for all our people. We must take the lessons of slavery and oppression and use them to make our countries better places to live, work and recreate.

It is equally important that we share the stories of the struggles endured by the African slaves with our young people, and instil in them how their ancestors used resistance and struggle to overcome challenges not of their making. The onus is on us to tap into their strength, and use that to become more innovative, so we can devise new services and products to offer to the world.

What is also important now is that the Caribbean in general seek to further advance its call for reparations. Indeed the call by the Chairman of the CARICOM Reparations Commission and Vice-Chancellor of The University of the West Indies, Professor Sir Hilary Beckles, for a reparations summit between Caribbean countries and the former colonisers of the region must be supported. Such a conversation is necessary, and is now definitely overdue.

The fact is that the Slave Compensation Act of 1837 in England for example, paved the way for approximately 20 million to be paid to slave owners for the loss of their free labour, but absolutely no compensation was paid to the slaves. The fact is that when the slaves were liberated, to their former owners they were still considered chattel and the idea of compensation for the centuries of inhumane treatment they endured was not even contemplated. A shame!

But as Sir Hilary has said, Britain and wider Europe owe a debt to this region a debt to development that must be repaid. He has insisted that in much the same way as the region met with European governments to discuss independence, the discussion on reparations is phase two of the independence process. And, if those who make up the government and private sector in European countries are honest, then they must take responsibility for the sins of their forefathers and seek to make things right.

Certainly they must seek to put financial and technical resources at the disposal of countries in the Caribbean. Our countries were put at a disadvantage following slavery and even more since independence, with international bodies and countries failing to see our inherent vulnerabilities as the reason why we should be given a helping hand to aid in our progress and long term sustainability. So it is hoped that the efforts being made by the Reparations Committee bear fruit in the not too distant future, and that it does not take another 186 years before we gain tangible traction in this area.

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EDITORIAL: Must put an end to the struggle - Barbados Advocate

Blockchain and cyber security: seeing past the hype – Information Age

Terry Greer-King, vice-president EMEA at SonicWall, discusses looking past the hype when it comes to blockchain and cyber security

A boundless model can lead the way towards blockchain-powered cyber security.

Within the cyber security industry, there is perhaps no technology that polarises opinion quite as strongly as blockchain. For some, its decentralised model is the future, protecting every node across a network. For others, the hype is outweighed by a limited functionality and, up until now, a limited uptake. But, when we look at the distributed IT model that businesses are now forced to operate in, it becomes clear that blockchain has an important role to play moving forwards.

With businesses scattered into remote workforces during the Covid-19 pandemic, vendor collaboration in the cyber security industry is essential. Read here

Traditionally, enterprises have been shielded by a security perimeter around the corporate network, which kept out malicious actors. But this model has drastically changed, and has instead been replaced by a boundless model: enterprises now need to operate in a always on IT landscape, where everyone is remote, mobile, and therefore less secure. The previous perimeter-based system is essentially no more, changing into a multitude of endpoints spread across geographies. Meanwhile, malicious actors have continued to diversify their attacks, becoming increasingly invasive and targeted.

Blockchain is far from perfect, and it is certainly not as embedded in enterprise security portfolios as other technologies but, looking forward, there is a strong chance that it will take centre stage, as security continues to emphasise PKI cryptography over flawed human-centric decision-making.

With the blockchain, every transaction is instantly identifiable and time-stamped. From a cyber security angle, this provides organisations with additional reassurance that the data is authentic and has not been tampered with, ensuring its integrity throughout the transaction, and the confidentiality of the blockchain makes sure that data is off limits for external parties.

A central theme of blockchain-based cyber security, particularly around the traceability issue, is: how does it fit in with todays complex regulatory landscape? The GDPR principle around the right to be forgotten is a particular challenge, because the blockchains immutability means that data is not deleted or altered. A solution to this would be to encrypt data stored in the blockchain before it is subsequently hashed into the system. This ensures that, if the encryption keys are destroyed, the data is rendered unprocessable and void.

Blockchain is by no means a perfected technology, and there is still obvious room for improvement. Crucially, changes must be made to design a blockchain that not only effectively secures data but also upholds regulatory compliance.

Blockchain technology, in its core design, is structured so that data is not stored within a central entity. Data is never stored in a single physical location, which could be vulnerable to malware intrusions. Because every single node across a single blockchain is democratically controlled, a single compromised node would render the entire system unexecutable.

Jrgen Resch, energy industry manager at COPA-DATA, discusses how blockchain optimises profits within the energy sector. Read here

For example, if your motorbike has a punctured tyre, you would stop, and ensure that it is fixed. If your vehicle does not alert you, and you carry on as normal, you remain at risk. The same goes for business security. If you do not know that your system is compromised, how do you know where to start making it right? How do you know that you need to improve security? Looking back to Marriotts first data breach, for instance: the system was first infiltrated during 2014, only for the breach to be revealed to the public four years later. In that time, up to 500 million customer records were leaked. If the perimeter had been protected by a decentralised system of nodes connected in a blockchain, this would not have happened, as the second a hacker attempted to tamper with the data, the system would have analysed each and every block, identifying the outliers and excluding them from the chain.

When external interfaces of the blockchain, especially for the inserting or reading of data, are secured, data is protected across the whole transactional route. Looking forward, companies like Marriott would be able to implement secure systems and avoid the 99 million fine handed out in 2019 by the Information Commissioners Office.

Blockchain as a technology is still in a period of development, and we are only just breaking the surface of what can be achieved with it. In a sense, it is designed for the very era that we are now entering: the era of boundless computing, where distributed IT has become the norm. A multitude of devices can be secured by blockchain PKI, distributed enterprise networks can be secured at the edge, organisations can tackle the challenge of remote working, and decentralisation ensures tampered systems are discovered and intruders stopped.

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US SEC Awards Contract to CipherTrace because its the Only Known Blockchain Forensics Tool that can Track Binance Chain Transactions – Crowdfund…

The US Securities and Exchange Commission (SEC) revealed on July 29, 2020 that its planning to award a single-source contract to blockchain security firm CipherTrace, a Menlo Park, California based business that recently introduced real-time predictive risk scoring for cryptocurrencies.

The SEC said that CipherTrace had been awarded the contract because its the only known blockchain or distributed ledger tech (DLT) forensics and risk intelligence tool that can trace Binance Chain and Binance Coin (BNB) transactions. Both Binances native token, BNB, and Binance Chain are used extensively by the leading digital asset exchange.

Last year, CipherTrace teamed up with Binance in order to launch various anti-money laundering (AML) tools specifically for Binance Chain, which is used to host the trading platforms BNB token, one of the largest crypto-assets with a market cap of around $3 billion. There are reportedly 189 other crypto tokens that are associated with Binance Chain.

Dave Jevans, the CEO at CipherTrace, has previously emphasized that regulatory authorities are increasingly demanding greater transparency. Samuel Lim, the Chief Compliance Officer at Binance, had claimed in November 2019 that the exchanges operations were in line with global regulatory standards.

However, this does not appear to be the case because regulators in many different jurisdictions have issued warnings against Binance.

The Securities Commission (SC) of Malaysia, which recently warned residents about facing lengthy prison sentences and fines for operating unlicensed Cryptocurrency ATMs, has specifically mentioned that Binance is not authorized to offer services in the country.

The Malaysian SC warned that Binance is operating a recognized market without authorization. The exchange provides fiat-to-cryptocurrency and peer to peer virtual currency trading services. Binance also supports transactions with the Malaysian ringgit, all without having authorization.

The Securities and Exchange Commission in Brazil has also warned its consumers that Binance is not permitted or does not have authorization to offer services in the country. The nations regulators stated that Binance or any other digital asset exchange must not offer any type of cryptocurrency-based derivative products to locals.

In March 2020, Maltas regulators also issued a warning noting that Binance is not authorized to offer services in the island nation.

To quote the Malta Financial Services Authority:

Following a report in a section of the media referring to Binance as a Malta-based cryptocurrency company, the Malta Financial Services Authority (MFSA) reiterates that Binance is not authorised by the MFSA to operate in the crypto currency sphere and is therefore not subject to regulatory oversight by the MFSA.

Many lawsuits have also been filed against Binance and other exchanges. Earlier this year, the law firms of Roche Cyrulnik Freedman and Selendy & Gay filed a squadron of class action lawsuits targeting multiple crypto exchanges as well as token issuers.

Kyle Roche, a lead partner on the cases, had stated (earlier this year):

The cases allege that exchanges and issuers failed to comply with federal and state securities laws intended to protect investors from unscrupulous behavior in the rush to capitalize on this enthusiasm.

Binance had also been an aggressive promoter of the controversial initial coin offerings (ICOs) and now more recently, initial exchange offerings (IEOs). However, the vast majority of these offerings have been non-compliant token sales that have led to huge losses for unsuspecting investors. Many scams have been orchestrated over the years under the guise of ICOs or IEOs.

An extensive report on IEOs, published earlier this year, revealed:

All TOP-15 IEOs from the class of 19 are still struggling in keeping their token price higher than it was during the IEO, and 74% out of them are still in a red zone providing investors with the negative ROI (in avg. -53%).

It added:

IEOs and ICOs did show that almost anyone can launch a project and get millions of dollars in funding from retail investors simply by having a good idea, a solid team, a vibrant community and convincing arguments why the token price will grow after listing.

Earlier this year, Chainalysis reported that Binance, Huobi, other major exchanges were used to transfer $2.8 billion in Bitcoin to criminals in 2019.

A recent report from research firm PeckShield (released in July 2020) noted that Binance and other crypto exchanges including Huobi, OKEx, BitMEX, Bithumb, Coinbase, Gate.io, Luno, Huobtc, and Zb exchange had accepted funds from suspicious digital currency addresses

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US SEC Awards Contract to CipherTrace because its the Only Known Blockchain Forensics Tool that can Track Binance Chain Transactions - Crowdfund...

Spotting the Potential of NFTs in the Blockchain Gaming Industry – Cointelegraph

Non-Fungible Tokens (NFTs) are emerging as a very popular blockchain trend in gaming, as they're also now being used in the sports industry (ticketing), financial services, and as a way to sell and transfer property, highlighted Craig Russo, director of innovation of an investment firm and startup ecosystem, Polyient Games.

In an interview with Cointelegraph, Russo explains that NFTs first captured the attention of the mainstream crypto community in 2017 with the launch of Ethereum (ETH) collectibles game, CryptoKittie.

Since then, Russo believes that the NFT market has come to represent one of the most attractive opportunities across all digital assets, with immediate use cases already being found within the art, collectibles and even the gaming industries

Polyient Games director of innovation explained further about the role of NFTs within the gaming space and its steadily popularity:

One reason gamers are gravitating towards blockchain is that - unlike traditional games - blockchain environments permit players to gain true ownership of their in-game items. This means blockchain games, driven by non-fungible tokens (NFTs) and digital collectibles, are unlocking an entirely new economic system that enables gamers to earn real money while they play. Fueled by these applications, the collectibles market has reached $370 billion.

Russo states that we are also beginning to see NFTs emerge as a standalone asset within decentralized finance (DeFi), including lending and fractional trading, and companies within the industry such as Polyient Games are bullish on NFTs in DeFi.

However, Russo told Cointelegraph about the major hurdles that NFTs adoption is facing currently:

A lack of understanding about NFTs from both the publics perspective as well as mainstream media is probably the biggest hurdle, but - based on the feedback weve gotten so far - were seeing more and more mainstream interest daily.

COVID-19 has altered how people interact, travel, communicate, work and conduct business, says Russo, but its also reshaping the entire gaming industry. He quotes figures that reveal in April 2020 alone, U.S. consumers spent a record-breaking $10.5 billion on in-home gaming:

This renewed passion for gaming has also caused a spike in gaming stocks. As people continue to social distance, this trend will continue. And - as players discover blockchain games, powered by NFTs and digital collectibles, which offer an entirely new, fully-immersive gaming experience - they will continue to embrace blockchain games.

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Spotting the Potential of NFTs in the Blockchain Gaming Industry - Cointelegraph

Ethereum History in 5 Charts – CoinDesk – CoinDesk

Five years ago this week, the first general-purpose blockchain went live on a mainnet. Ethereum paved the way for a whole new use case for blockchain technology untethered from Bitcoins original vision as electronic cash.

CoinDesk marked the milestone with a special series of stories, live-streamed conversations and even a pop-up newsletter. These charts first appeared in the newsletter, one for each day.

Here are five charts for understanding Ethereums evolution.

Part 1: A Bloodless Secession

Not one year after the launch of Ethereum, a seminal event split the community in two.

So acute was the disagreement between these two subcommunities that the row resulted in the creation of a new cryptocurrency called ethereum classic, cloned from the original Ethereum codebase.

Ethereum classic was created July 20, 2016, after $60 million worth of ether (ETH), Ethereums native cryptocurrency, was stolen from users of a dapp known asThe DAO. At the time, The DAO was the only dapp of its kind where users could pool funds and vote on which projects the money would be invested in. The DAOs vision (before it was hacked and drained of a significant chunk of its finances) was to be an investor-guided venture capital fund.

After weeks of deliberation, Ethereum developers reached a consensus that they should turn back the clock reverse The DAO hack transactions and restore users lost ETH. The changes could only be implemented through a network-wide upgrade, also calleda hard fork. Those who opposed the change argued in favor of retaining the integrity of the original blockchains history of transactions and balances hacked funds and all.

So, on July 20, 2016, when the upgrade to restore user funds was executed, the Ethereum blockchain split in two. The portion of the community that retained the original log of transactions and balances from The DAO hack and did not upgrade the software created a parallel network, Ethereum Classic.

Since the split, the Ethereum network has hard forked seven additional times, though none of these subsequent upgrades have reached the same level of controversy as The DAO Fork of 2016.

Part 2: Those Darned Cats

The first dapp on Ethereum to gain real user traction was a collectibles game known as CryptoKitties. Launched in November 2017, the digital cats became so popular they were covered by news outlets around the world includingThe Financial Post,BBCandThe New York Times.

At the height of their popularity, tokenized cats were trading on Ethereum for upwards of$200,000. However, the influx of users and a high volume of transactions from this one viral dapp clogged the Ethereum blockchain to unprecedented levels. A backlog of30,000 transactionshad piled up by December 2017, meaning that users would have to wait days for their transfers of ETH to be confirmed.

The developers behind CryptoKitties hastened to help stem the tide of new usersby increasing game fees. Shortly after CryptoKitties launch, Ethereum saw the highest total for daily transaction fees in its history, on Jan. 10, 2018. Over $4.5 million was collected in fees by Ethereum miners that day. The same month, CryptoKitties reached250,000 registered users.

In many respects, the CryptoKitties craze was the rude awakening that reminded Ethereum developers of the platforms technical limitations. How could Ethereum become the world computer when one viral dapp was enough to overwhelm it? If the developers wanted to be serious about onboarding not thousands but millions of dapp users, they would need to come up with a concrete plan to increase throughput.

Part 3: Testing the Limits

The need for Ethereum 2.0 and its expected benefits to network efficiency as well as scalability has only grown stronger since the CryptoKitties craze of 2017. The popularity of initial coin offerings (ICOs) a way to crowdfund early stages of a cryptocurrency project by dollar amount raised reached its peak in 2018. A total of$7.8 billionwas raised for over1,000 projectsthat year. According toICObench, over 80% of all ICOs rely on the Ethereum blockchain to create their tokens and issue them to investors.

Trends like the ICO boom of 2018 are indicative of the ways blockchain technology can be leveraged in more ways than simply peer-to-peer electronic cash. Ethereum, as the worlds first general-purpose blockchain platform, has become the central hub where dapp developers congregate to build any and all types of use cases for blockchain, be it gaming- or finance-related.

As a result, despite the technical limitations of the platform, dapp developer activity on Ethereum continues to thrive. The latest trend dominating user traffic and transaction volume on Ethereum isdecentralized finance (DeFi). The DeFi movement currently sweeping Ethereum is made up of dapps modeled after traditional financial players such as lending services, exchanges and derivatives markets. As of July 29, 2020,$3.68 billionworth of crypto assets are locked by users into various DeFi protocols.

Part 4: Dapp Dominance

Ethereums vision since its inception has always been to be the world computer on top of which decentralized applications (dapps) and assets of any kind can be freely created and deployed.

To this end, Ethereum developers pioneered new technology in the emerging space of blockchain called smart contracts. A new programming language called Solidity was invented to help code dapps on Ethereum. In order to ensure interoperability between different dapps on the network, common frameworks were developed like the ERC-20 and ERC-721 token standards.

These innovations have blazed the trail for other general-purpose blockchain platforms to emerge since Ethereums birth in 2015. EOS, Stellar, Tezos and Tron are four cryptocurrencies in the top 15 by market share that also feature dapp creation and deployment. Despite the growth in the number of alternative dapp platforms, Ethereum remains the most popular general-purpose blockchainboth in terms of number of users and dapps,as shown in the chart above.

Ethereum hasnt fulfilled its vision yet, however. Developers are convinced that the current blockchain infrastructure is wholly inadequate to handle an influx of millions, if not billions of users around the world. This was always the suspicion of the early founders of Ethereum, includingVitalik Buterin. Five years after releasing their creation into the wild, Buterin and others have worked out a roadmap called Eth 2.0 to bring Ethereums development to completion. Eth 2.0s first step is expected to launchsometime this yearor early next.

Part 5: The Long Road to 2.0

Ethereum hasnt fulfilled its vision yet.

Developers are convinced that the current blockchain infrastructure is wholly inadequate to handle an influx of millions, if not, billions of users around the world. This was always the suspicion of the early founders of Ethereum such as Vitalik Buterin. Five years after releasing their creation into the wild, Buterin and others have worked out a roadmap called Ethereum 2.0 to bring Ethereums development to completion and it is anticipated to launch sometime this year or early next.

The Ethereum 2.0 roadmap is almost as ambitious as the original one which brought the first dapps into existence. While the launch of this technology is forthcoming, an important part of understanding Ethereums five-year history lies in studying the many iterations that Ethereum 2.0 underwent in its years of planning.

Originally, Ethereum 2.0 in 2015 was thought of as the final development phase for the project and dubbed Serenity. Serenity was tentatively expected to be rolled out 16 months after initial mainnet launch (which would have been November 2016). The upgrade would transition Ethereum from its reliance on a computationally intensive process for block production inherited from Bitcoin, known as mining, to a more energy-efficient process of validating.

To this end, developers created what is called the difficulty bomb to slowly but surely encourage this transition away from mining. The bomb, which was activated on March 14, 2016, increases the difficulty levels for miners to find an Ethereum block over time. This schedule at which this bomb slows block production has been delayed three times over the course of the last five years as developers re-worked plans for launching Ethereum 2.0.

The most recent delay to the difficulty bomb occurred on Jan. 2, 2020. This may be the last time the difficulty bomb is pushed back as tentative estimations by some developers suggest the transition to Ethereum 2.0 could begin officially sometime this year and replace the existing network by late next year.

While there is no telling what new technologies and standards of blockchain practice will be innovated as a result of Ethereum 2.0, looking back at the first five years of the networks development does give some indication. In that time, Ethereum has undergone network-splitting upgrades, faced crippling technology bottlenecks, advanced new forms of fundraising for crypto projects and formalized a launch plan for migrating to Ethereum 2.0.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Sonoco Thermosafe to develop vendor-neutral blockchain platform – Packaging Gateway

]]]]]]>]]]]>]]> Sonoco is a diversified packaging company. Credit:fempreneurstyledstock.

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Sonoco ThermoSafe, a subsidiary of Sonoco, is developing a vendor-neutral blockchain platform to deliver improved transparency and traceability across the pharmaceutical supply chain.

PharmaPortal, the platform, is being built on IBM Blockchain Transparent Supply.

The platform is built in response to the growing needs to trace assets across different supply chain participants and record truth on all events generated through the journey.

It will integrate these data with other businesses across an industry-scale network.

Sonoco president and CEO Howard Coker said: Only through the collaborative efforts of all members of the temperature controlled pharmaceutical distribution process can we achieve the safety and efficiency that the world needs from us in this critical time.

An effort of this magnitude requires a high level of industry engagement to make a meaningful difference in the lives of people around the world. IBM has had success working across a number of sectors where implementing blockchain networks transformed the efficiency and effectiveness of the supply chain, and we see the same opportunities in the pharmaceutical space.

PharmaPortal will initially focus on end-to-end traceability of temperature-controlled drugs, including vaccines and provide an audit trail of environmental condition monitoring.

Under this initiative, Sonoco will collaborate with industry leaders to enhance the safety and efficiency of global temperature controlled pharmaceutical distribution.

A PharmaPortal Advisory Council will be appointed in the coming months with the increasing network growth. It will comprise willing representatives from the pharmaceutical industry.

Recently, Sonoco announced plans to upgrade its corrugated medium machine in Hartsville, South Carolina, US, with an investment of $83m.

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Sonoco Thermosafe to develop vendor-neutral blockchain platform - Packaging Gateway

How blockchain will disrupt games software development – ComputerWeekly.com

This is a guest post for the Computer Weekly Developer Network written by Brad Robertson of Polyient Games.

Roberton launched Polyient Games, a spinoff of Polyient Labs, his early-stage blockchain-startup incubator with offices in Phoenix and San Diego.

A specialist in emerging technologies, Robertson asserts that blockchain is about to completely disrupt games programming as it will allow gamers to earn money from gaming (that can be spent elsewhere) for the first time. The impact of this change could have implications for the way programmers build games software in the future.

Robertson writes as follows

In 2017, the gaming industry generated about US$116 billion (91 billion); by 2025, industry analysts predict it will be worth $300 billion.

This growth trajectory confirms the power of video games to capture and hold the publics attention.

Dont take my word for it. In 2019, in a letter to shareholders Netflix told investors it wasnt concerned about competing against other streaming services. Instead, Netflix said, it was concerned about competing against Fortnite, a game valued at $15 billion and boasting 80 million users.

This was undoubtedly welcome news in the boardroom of Epic Games, the company behind Fortnite. But Epic didnt rest on that success. Instead, Epic announced it was getting into blockchain gaming.

Not to be outdone, earlier this year Ubisoft the company behind Assassins Creed, a video game franchise valued at $300 million announced it too was investing blockchain technology.

Why are these gaming giants climbing aboard the blockchain bandwagon? Because they recognise blockchain technology is about to upend the entire multi-billion-dollar gaming software industry.

I come at this conclusion from two perspectives: one, I have been an entrepreneur in the tech industry for more than 25 years.

Two and maybe this is more relevant I am a father of five gamers.

Being a gaming parent means my understanding of the industry has been shaped by 15+ years of real-life gaming experience. This includes my own days of dabbling in rudimentary diversions such as Pong and PacMan. But, beeyond that, Ive watched as my kids got swept up in a wide variety of nearly-addictive games over the years.

I watched as they were captivated by Sims (which may be the most popular game of all time based on unit sales).

Later on, when first-person shooter games such as Call of Duty became the rage, they took over the imaginations of my sons. As I watched one child outgrow a game and put his or her controller down, I saw the next kid become infatuated with Minecraft and Halo and others. And, of course, this meant that our family saw all of the major gaming consoles Sony Playstations, Microsoft Xboxes and Nintendo Wiis rise and fall in popularity.

So, when it comes to gaming, Ive paid my dues. Ive seen first-hand how certain games won over new players and transformed the gaming landscape. Thats why I know blockchain-based games are about to disrupt the gaming industry.

The reason is simple. In every hit game Ive mentioned, gamers were confined to a single gaming environment and a single gaming experience. If a gamer won something in Call of Duty, those winnings only had value in Call of Duty.

Blockchain gaming changes all of that. Blockchain games, powered by non-fungible tokens, digital collectibles and even VR can deliver an entirely new, fully immersive gaming experience. Hard-earned rewards won in one game can now transfer to another game. This transferability means gaming rewards for the first time can accumulate genuine value. They can be bought and sold in blockchain-supported marketplaces for other tokens of even cryptocurrencies. This also means for the first time gamers (and their parents) can even earn real money by playing games.

This isnt some far away idea. CryptoKitties a blockchain game launched in 2017 that allows users to create, trade and sell digital felines already has more than 1 million users who have completed $40 million worth of transactions. And thats just the beginning.

The success of CryptoKitties only explains half of my enthusiasm for blockchain games the tech entrepreneur half. The other half comes from watching my 16-year old daughter become enthralled with another new blockchain game Axie Infinity. She was captivated and I knew I was watching the future of gaming.

Approved image use source: Polyient Games.

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EY announces that it has been named as a top enterprise blockchain service provider in annual HFS Research report – PRNewswire

LONDON, July 28, 2020 /PRNewswire/ --EY today announces it has been ranked third in HFS Research's annual Top 10 Enterprise Blockchain Services Report, based on the organization's bold public blockchain market vision and software development-led go-to-market strategy. HFS, a technology analyst firm focused on defining the future of business operations, assessed 13 leading blockchain service providers on core criteria, including ability to execute on blockchain engagements, scale and growth, innovation, and voice of the customer, recognizing the top 10 providers that best met these standards.

EY was also ranked a top-three performer in innovation as it relates to developing blockchain solutions. In the ranking, HFS recognizedEY for its strength in deep integration of business process designs with audit, tax and compliance requirements, noting that the global organization's blockchain solutions include the capabilities that help enterprises transact securely, safely and in full regulatory compliance on both private and public blockchains. HFS also noted that the singular global team structure of the EY blockchain practice differentiated the organization from other consulting-led organizations within the report.

Paul Brody, EY Global Blockchain Leader, says:

"It is great to be recognized for our ground-breaking work in core blockchain technology and how we have industrialized the security and privacy tools needed by enterprises for processes like product traceability and procurement. We are advancing our vision of how public blockchains will give integrate business ecosystems with the same efficiency and power that ERP did inside the enterprise."

The report highlighted the EY OpsChainand EY Blockchain Analyzerplatforms, as well as EY investments in tools for emerging technologies and privacy protocols for public blockchains, tokenization, the testing of smart contracts, tokens and identity verifications.

Saurabh Gupta, HFS Research Chief Research Officer, says:

"The fourth-generation EY OpsChain solution provides an enterprise-grade secure and collaborative environment that will help drive procurement and significantly increase the number of transactions, allowing procurement professionals to focus on becoming a strategic collaborator."

For more information about EY blockchain services and solutions, please click here.

Note to editors

About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. For more information about our organization, please visitey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About HFSHFS' mission is to provide visionary insight into major innovations impacting business operations, including automation, artificial intelligence, blockchain, digital business models, and smart analytics. To learn more about HFS Research, please email [emailprotected].

Kailyn SmigelskiEY Global Media Relations+1 973 715 3624[emailprotected]

SOURCE EY

http://www.ey.com

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EY announces that it has been named as a top enterprise blockchain service provider in annual HFS Research report - PRNewswire

Uganda Communications Commission to Pilot Blockchain – A Q&A Chat with CryptoSavannah – bitcoinke.io

The Uganda Communications Commision (UCC) recently announcement that it will be piloting SIM card registration and verification via the blockchain.

UCC was also recently ranked 4th in Africa on the regulation of ICT, according to the ITU global ICT regulatory Outlook 2020 Report.

SEE ALSO:The Uganda Communications Commission to Pilot Blockchain for SIM Card Registration and Verification

BitcoinKE had a chat with CryptoSavannah, one of the companies partnering with UCC in the pilot project.

Here is the exclusive Q&A chat with CryptoSavannah:

Question: What informed the decision by UCC to consider blockchain?

Answer: Through a series of discussions and understanding their pain points particularly with SIM card registration, we agreed with UCC that this would best be solved by a blockchain because of the security the technology would bring, transparency giving them industrywide visibility into the SIM registration and validation process, something they didnt have.

Blockchain would also alow them to leverage the massive KYC the industry has to offer to other industries being able to share this KYC data without compromising privacy something blockchain does well.

With these benefits UCC was convinced that blockchain was the way to go.

Question: When can we expect the deployment to roll off?

Answer:We launched the pilot phase which will run for about 7-8 months after which UCC will plan for a mass rollout of the platform.

Question: What is CryptoSavannahs comment in regards to this partnership?

Answer:CryptoSavannah is excited to showcase the power of technologies like blockchain in solving real world challenges.

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House votes to increase offshore wind power purchasing – WWLP.com

by: Colin A. Young and Chris Van Buskirk, SHNS

FILE In this July 27, 2006 file photo, wind turbines stand clustered offshore in Dronten, the Netherlands. Officials with the U.S Bureau of Ocean Energy Management say that the first leases for turbines to be built offshore North and South Carolina could be issued next year. During a series of public hearings on the []

BOSTON (SHNS) The House registered its unanimous support Friday for requiring the executive branch and utility companies to procure even more offshore wind power, backing an amendment that would boost the states total authorization to 3,600 megawatts.

Weve heard from the developers from day one that they needed to hear that we were going to continue to authorize more and more offshore wind. And so thats what we do today, we authorize and we send the signal that Massachusetts is not standing down and that we will continue, House Speaker Pro Tempore Patricia Haddad said.

In an amendment package to its climate change bill, the House agreed to up the mandated amount of offshore wind power the state and utilities must contract for to 3,600 MW and also to shorten the maximum amount of time between procurements from 24 months to 18 months, Haddad said.

The amendment also requires that the secretary of housing and economic development review offshore wind proposals in addition to the Department of Energy Resources.

Massachusetts really isnt getting the jobs that other states are getting because we dont have an incentive in there we dont have any incentives other than the federal tax credit, Haddad said. So the secretary of economic development will be able to look at the procurements and make comments about which ones are a good deal, both by price and by what we get out of it for economic development.

Earlier this week, the Senate unanimously adopted an amendment to its economic development bill to direct DOER to procure another 2,800 MW of offshore wind power by 2035, which would bring the states total authorization to 6 gigawatts.

Neither newly-proposed level is final, and the House and Senate will likely settle on one figure after negotiating compromise versions of the economic development and climate bills.

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House votes to increase offshore wind power purchasing - WWLP.com

Offshore Drilling Contractor Files Chapter 11 – Rigzone

(Bloomberg) -- Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.

The Chapter 11 filing in Texas would eliminate all of the companys bond borrowings by swapping debt for equity, the company said in a statement. Noteholders agreed to invest $200 million of new capital through second-lien notes, and Noble has lined up a $675 million secured revolving credit facility backed by current lenders including JPMorgan Chase & Co.

London-based Noble, one of the biggest owners of offshore rigs, failed to cope with a glut of floating drilling capacity that was a decade in the making, as exploration companies shifted focus to cheaper inland shale. The plunge in crude prices made any near-term recovery in offshore drilling even less probable.

Noble reported both assets and liabilities of $1 billion to $10 billion, according to the bankruptcy petition. It expects to emerge from Chapter 11 before the end of the year, and will continue operating while in bankruptcy, according to the statement.

Its filing adds to the more than 200bankruptciesby oilfield service companies dating from 2015, according to the law firm, Haynes and Boone LLP. Noble follows competitor Valaris Plc announcing Thursday that it may file for Chapter 11, while Diamond Offshore Drilling Inc. filed for bankruptcy in April.

The offshore-drilling business enjoyed the highest of highs when oil topped $100 a barrel earlier in the decade. Companies including BP Plc and Anadarko Petroleum Corp. could lease out an advanced ship for more than $600,000 a day. An army of boats and helicopters took workers and supplies out to these rigs, where meals often included steak and shrimp, and carved ice sculptures adorned lunch rooms.

Facing Uncertainty

Jeremy Thigpen, who runs the industrys biggest provider of deepwater rigs, Transocean Ltd., said this week hes not so sure that rivals who emerge from bankruptcy with less debt will have an advantage over his own company.

At least in the interim period, I think we have a decided advantage because were not facing that uncertainty and those distractions, Thigpen said. I doubt that they are going to come out with a lot of cash and as you well know, it takes a lot of cash to operate and maintain these assets and certainly a lot of cash to reactivate them.

Noble had spent years in litigation after it spun off a chunk of more than 40 of its rigs in 2014 into a new company called Paragon Offshore that later filed for bankruptcy. The legal fight was seen as an overhang on Nobles shares as it dragged on.

As far back as 2017, its dispute was expected to be settled in the range of $150 million to $250 million, according to Susquehanna. But due to Nobles more recent financial condition, Susquehanna said this month it should be a much lower range.

The case is Noble Drilling Holding LLC, 20-33825, U.S. Bankruptcy Court, Southern District of Texas (Houston).

--With assistance fromDawn McCartyandJoe Carroll.

To contact the reporters on this story:David WetheinHoustonatdwethe@bloomberg.net;Allison McNeelyinNew Yorkatamcneely@bloomberg.net

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Offshore Drilling Contractor Files Chapter 11 - Rigzone

Weatherford remotely installs liner hanger on Russian offshore platform – Offshore Oil and Gas Magazine

Remote training and monitoring procedures enabled the successful installation of the liner hanger system, cementing products and tubular running services.

Courtesy Weatherford

Offshore staff

HOUSTON Weatherford International announced that it has successfully and remotely used a restricted crew to install a 16-in. liner hanger on an offshore platform in Sakhalin Island, Russia.

The company says that remote training and monitoring procedures enabled the successful installation of the liner hanger system, cementing products and tubular running services.

The operator objectives were to install and cement a 16-in. liner and hanger at an offshore platform that was locked down as a precaution to protect against COVID-19 viral exposure. The operator also requested remote guidance and technical support to ensure a trouble-free liner installation.

The COVID-19 lockdown restricted the number of personnel aboard the platform to reduce potential contamination risks.

The Weatherford liner team developed remote training and monitoring procedures to enable successful installation and testing of a 16-inch liner using a restricted crew that reported zero equipment malfunctions, said Fayaz Kamalov, Vice President, Russia, Weatherford.

Kamalov added that the Weatherford team provided remote guidance to ensure a trouble-free outcome for each step, including equipment rig-up, liner running, hanger installation, cementing, packer setting, pressure testing, and rig-down.

07/31/2020

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Weatherford remotely installs liner hanger on Russian offshore platform - Offshore Oil and Gas Magazine

Drops incidents rise in offshore wind industry – Energy Global

Dropsafe, which specialises in dropped object (drops) prevention, has called for a more systematic approach to tackling drops throughout the offshore wind supply chain. This follows the publication of 2019 data by the G+ Global Offshore Wind Safety Organisation showing an overall rise in reported drops incidents in the sector.

Dropsafe maintains that, rather than focusing drops prevention exclusively on retroactive on-site mitigation strategies such as secondary securing, drops risks must be considered throughout the full lifecycle of a wind turbine fleet from design and manufacture of equipment to installation, operations and maintenance, and decommissioning.

The G+ 2019 incident data report, released in July, shows that in 2019 there were 92 drops incidents, representing an increase of 44% from 2018. This upward trend has been attributed to improved reporting but underlines the severity of the threat to offshore wind personnel, alongside the reputation and financial standing of businesses in the sector.

High potential (HiPo) incidents decreased compared to the previous year, with 38% of drops incidents classified as high potential in 2019 compared to 61% in 2018.

Dropsafe has drawn parallels to the experience of businesses in offshore oil and gas, which saw a comparable trend in drops incidents 20 years ago. The offshore drilling sector subsequently took decisive action to self-regulate on drops risks. Industry working group DROPS was formed to facilitate systematic action on drops prevention, leading to an advanced, supply chain wide culture of drops prevention.

In particular, while drops prevention technologies such as secondary securing, barriers, netting and tool tethering are vital, DROPS advocates a hierarchy of controls that starts with designing equipment and processes in such a way that risks are minimised before these systems need to be installed.

Allen Smith, DROPS Global Representative, added: Its encouraging to see these statistics being reported and analysed as they show that the wind industry is building a solid foundation in dropped object prevention. As we would expect, the highest proportion of incidents occurred during lifting operations followed by manual handling and routine maintenance.

One of the key things we advise is that dropped object prevention must be considered holistically, using a robust hierarchy of controls. For example, planning work schedules more effectively to minimise the number of lifts would have a big impact and would be a key line of defence.

Offshore wind sees a similar range of drops risks to offshore oil and gas. Vibrations from operation, corrosion from sea water and strong winds can cause components to come loose from their fittings and fall, potentially striking assets, vessels or personnel below. Technicians routinely work at height, carrying tools to raised areas.

With the height of turbines and the size of components continuing to grow, Dropsafe warns that the consequences of drops are scaling up proportionately. According to the G+ data, nearly half of drops occurred on wind turbines, raising the risk of asset damage which can lead to costly repairs. 8% of incidents did in fact cause asset damage.

Mike Rice, Commercial Director, Dropsafe, said: Effective Drops prevention needs to encompass the entire supply chain, and has both a mental and physical component. Using robustly engineered prevention systems on site is vital, but what we try to foster is a deeper understanding of the hazards from the bottom of an organisation to the top. The offshore wind sector has a major opportunity to take the initiative on drops by following the open and collaborative approach which has been so successful in oil and gas.

Read the article online at: https://www.energyglobal.com/wind/31072020/drops-incidents-rise-in-offshore-wind-industry/

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Drops incidents rise in offshore wind industry - Energy Global

COVID-19 Impacts: Offshore Oil and Gas Seismic Equipment and Acquisitions Market Will Accelerate at a CAGR of over 7% Through 2020-2024 | Rise in…

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the offshore oil and gas seismic equipment and acquisitions market and it is poised to grow by USD 1.39 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

The market is concentrated, and the degree of concentration will accelerate during the forecast period. Arabian Geophysical and Surveying Co., Fugro NV, ION Geophysical Corp., Mitcham Industries Inc., PGS ASA, Polarcus Ltd., SAExploration Holdings Inc., SeaBird Exploration Plc, Shearwater GeoServices Holdings AS, and TGS-NOPEC Geophysical Co. ASA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The rise in deepwater and ultra-deepwater E&P projects has been instrumental in driving the growth of the market.

Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2020-2024: Segmentation

Offshore Oil and Gas Seismic Equipment and Acquisitions Market is segmented as below:

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41138

Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our offshore oil and gas seismic equipment and acquisitions market report covers the following areas:

This study identifies the increasing adoption of 4D seismic survey technology as one of the prime reasons driving the offshore oil and gas seismic equipment and acquisitions market growth during the next few years.

Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the offshore oil and gas seismic equipment and acquisitions market, including some of the vendors such as Arabian Geophysical and Surveying Co., Fugro NV, ION Geophysical Corp., Mitcham Industries Inc., PGS ASA, Polarcus Ltd., SAExploration Holdings Inc., SeaBird Exploration Plc, Shearwater GeoServices Holdings AS, and TGS-NOPEC Geophysical Co. ASA. Backed with competitive intelligence and benchmarking, our research reports on the offshore oil and gas seismic equipment and acquisitions market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Offshore Oil and Gas Seismic Equipment and Acquisitions Market 2020-2024: Key Highlights

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY TECHNOLOGY

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

PART 12: VENDOR LANDSCAPE

PART 13: VENDOR ANALYSIS

PART 14: APPENDIX

PART 15: EXPLORE TECHNAVIO

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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COVID-19 Impacts: Offshore Oil and Gas Seismic Equipment and Acquisitions Market Will Accelerate at a CAGR of over 7% Through 2020-2024 | Rise in...

Alfa Lift to debut at Dogger Bank A offshore the UK – Offshore Oil and Gas Magazine

The heavy lift vessel Alfa Lift is currently under construction at CMHIS shipyard in China.

(Courtesy OHT)

Offshore staff

OSLO, Norway OHT Alfa Lift AS has signed the contract for the transport and installation of foundations for the first phase of Dogger Bank offshore wind farm, Dogger Bank A.

The contract for the second phase, Dogger Bank B, is expected to follow in due course, the company said.

The project will be the monopile installation debut for OHTs newbuild vessel Alfa Lift which is currently under construction at CMHIS shipyard in China.

The Alfa Lift will transport the monopile foundations and transition pieces to the offshore site, more than 130 km (81 mi) off the northeast coast of England, and install them in water depths up to 35 m (115 ft), using the vessels 3,000-metric ton crane, mission equipment and smart deck handling system.

According to the company, the foundations will be amongst the largest ever used for offshore wind and are expected to be installed between 2022 and 2023.

Dogger Bank is being developed by SSE Renewables and Equinor, with first power expected in 2023. The contract is subject to the projects final investment decision.

07/31/2020

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Alfa Lift to debut at Dogger Bank A offshore the UK - Offshore Oil and Gas Magazine

IRS gears up to target people, companies with taxes due on offshore earnings – Fox Business

The IRS stopped processing paper returns at the end of March to comply with coronavirus-related social distancing and stay-at-home guidelines; Rich Edson reports.

The IRS is launching a campaign this fall to audit U.S. companies that have overseas earnings and have not paid the taxes owed on that money.

A new compliance initiative announced by the IRSs Large Business and International Division earlier this month pertains to section 965 of the Revenue Code added by the 2017 tax reform law which requires U.S. shareholders to pay a transition tax on untaxed foreign earnings of certain specified foreign corporations as if those earnings had been repatriated to the United States.

The IRS stated on its website that it is working to alert potentially impacted taxpayers about the obligations and an official from the agency said on Wednesday that it expects to send thousands of letters starting in October.

IRS SPENT MILLIONS ON AUDITS THAT RETURNED NO REVENUE, REPORT FINDS

Shareholders can include individuals, S corporations, partnerships, estate, trusts, cooperatives and tax-exempt organizations. Accumulated post-1986 deferred foreign income may be subject to the tax.

CORONAVIRUS COULD CAUSE NEW YORK TO RAMP UP AUDITS OF WEALTHY TAXPAYERS

Prior to the law, individuals could defer taxes on income through investment in a foreign company.

According to the tax agency, there is a related deduction that lowers the effective tax rate to between 8 percent and 15.5 percent.

Taxpayers can choose to pay the one-time transition tax in a lump sum or over an eight-year period. For many, 2020 marks the third installment of payments.

Failure to comply with the law could result in interest and penalties.

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As tax compliance among large businesses, in particular, has proven to be challenging for the IRS.

Of the 10,755 returns that were analyzed and closed by the LBI division during fiscal years 2015 through 2018, a report by theTreasury Inspector General for Tax Administrationfound that 47.2 percent were closed with no change to the return. The agency estimated that accounting for the costs of examining the returns about $22.7 million was spent on these returns, which generated no additional revenue for thegovernment.

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IRS gears up to target people, companies with taxes due on offshore earnings - Fox Business

Offshore Wind Helps Clean Energy Weather The Covid-19 Storm – Forbes

An offshore wind farm off the coast of Copenhagen, Denmark

While the Covid-19 pandemic has devastated huge swathes of the global economy over the past six

New figures from research company BloombergNEF show that worldwide investment in new renewables capacity rose by 5% in the first half of 2020, despite the global economic shock caused by the pandemic.

The sectors strong performance was spearheaded by the best ever six months for offshore wind, which more than made up for declining investment in solar, onshore wind and biomass.

Investors put $35 billion into offshore wind in the first six months of the year, which was more than for the entirety of 2019, and more than triple the same period last year. Some 28 ocean-based wind farms saw investment decisions, including the biggest ever deal, the $3.9 billion, 1.5GW Vattenfall Hollandse Zuid array off the coast of the Netherlands.

Other major offshore deals included the 1.1GW SSE Seagreen project off the UK, at an estimated $3.8 billion; the 600MW $3.6 billion CIP Changfang Xidao array off Taiwan; and the Fecamp and Saint-Brieuc projects in French waters, together totalling 993MW at a cost of $5.4 billion. In addition, the Chinese market really took off there were no fewer than 17 Chinese installations financed, led by the 600MW Guangdong Yudean Yangjiang Yangxi Shapaat scheme, which will cost $1.8 billion.

Albert Cheung, head of analysis at BNEF, commented: We expected to see Covid-19 affecting renewable energy investment in the first half, via delays in the financing process and to some auction programs. There are signs of that in both solar and onshore wind, but the overall global figure has proved amazingly resilient thanks to offshore wind.

Offshore wind is benefitting from the 67% reduction in levelized costs achieved since 2012, and to the performance of the latest, giant turbines, Tom Harries, head of wind analysis, said. But the first half of this year also owed a lot to a rush in China to finance and build, in order to take advantage of a feed-in tariff before it expires at the end of 2021. I expect a slowdown in offshore wind investment globally in the second half, with potentially a new spike early next year.

Overall investment in new renewable energy capacity (excluding large hydro-electric dams of more than 50MW) was $132.4 billion in the first half of 2020, up 5% from a revised $125.8 billion in the same period of 2019. But onshore wind investment was 21% lower to $37.5 billion, while solar funding was 12% down at $54.7 billion.

New biomass and waste-to-energy Investment fell by more than a third to $3.7 billion, but there was an almost six-fold jump in geothermal investment to $676 million. Small hydro projects of less than 50MW saw investment fall by 14% to $576 million, while biofuel refineries saw an 82% drop in funding to $250 million

Chinas offshore wind boom ensured that its renewable energy investment figures grew by 42% on the same period in 2019, while European investment grew 50% and Japans market grew 14%. There were some spectacular increases in individual European markets funding in France more than tripled while the UK and the Netherlands both saw investment about 2.5 times the figure a year earlier. By contrast, investment was down in India (-49%), Brazil (-26%) and Spain (-11%).

A clearer picture of the impact of the pandemic on clean energy investment will emerge when the full year figures for 2020 are published, said Angus McCrone, chief editor at BNEF. Renewables have been helped by vastly improved competitiveness and by investor appetite for assets offering secure cash flows. However, project developers face the challenge that key people, whether at the permitting, financing or construction stages, cant meet face-to-face. And buyers of small-scale solar systems are sensitive to changes in consumer confidence.

In the less mature market for energy smart technologies such as battery storage, funding fell by 43%, while the biggest public markets were the relatively small IPOs of Chinese solar companies, Jinko Power Technology and Trina Solar, which raised $366 million and $359 million respectively.

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Offshore Wind Helps Clean Energy Weather The Covid-19 Storm - Forbes

Canadian Navy to welcome first Arctic and offshore patrol ship on Friday – Global News

The Royal Canadian Navy is set to officially welcome the first Arctic and offshore patrol ship to its fleet on Friday.

HMCS Harry DeWolf is the first armed warship to have been finished through the federal governments multibillion-dollar shipbuilding plan.

Harry DeWolf was a career navy officer who retired as chief of the naval staff in 1960. He rose to prominence as commander of HMCS Haida during the Second World War, known for daring tactical manoeuvres and sinking numerous enemy vessels, especially in the English Channel.

Top navy officers marked the arrival of the DeWolf along with representatives from Irving Shipbuilding

These ships will be at the core of an enhanced Canadian Arctic presence, effectively complementing the capabilities of our other current and future warships through critical reconnaissance and surveillance operations, said Vice-Admiral Art McDonald, the commander of the navy, in a statement.

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The DeWolf is the first of six new Arctic and offshore patrol vessels to be built in decades for the Royal Canadian Navy to conduct military operations in the Arctics.

But it arrives two years behind schedule and after a lengthy process.

Then-prime minister Stephen Harper first announced plans to build up to eight armed Arctic patrol vessels in July 2007 and Irving was selected in October 2011 to produce them before building replacements for the navys frigates and destroyers.

But the following years saw several cost overruns and delays in the program.

After work started on the DeWolf in 2015, Irving said it would only be able to build five ships with the $3.1 billion budgeted for the project. The government ended up increasing the budget to $4.1 billion for six.

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That money does not include the two ships for the coast guard, which are expected to cost about $400 million each.

Technical problems were also blamed for pushing the delivery date back several times. Then Irving closed its Halifax shipyard in March for several months because of COVID-19.

Rob Huebert, an expert on the Arctic at the University of Calgary, told the Canadian Press that the DeWolfs arrival heralds a significant shift for the navy, which has tended to focus on the rest of the world and leave Canadas Far North to the Canadian Coast Guard.

Its the first vessel specially built for military operations in the Arctic since the 1950s.

And it couldnt come at a better time, as more and more countries are starting to increase their interest and military footprints in the Far North, which is becoming easier to access due to climate change, said Huebert, who is an expert on Arctic policy.

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Even the most profound Arctic exceptionalist who says the Arctic is just peace, love and Kumbaya will recognize there is a growing need to have at least a presence in the Arctic as it opens up and becomes a greater part of the geopolitical environment, he said.

But once again, this is going to now give us a capability to operate that we havent had since a short little period between 1956 to 57 with (HMCS) Labrador.

The Labrador was an icebreaker built for the navy but was in the fleet just a few years before being transferred to non-military use.

The navy was actually disdainful when Harper announced the new Arctic ships in 2007. Part of it was their slow speed and light armament, as the ships have only one small cannon. But mostly it was because the navy saw the Arctic as coast guard territory.

Because they had not done this since 57, there was a little bit of: OK, what the hell do we do with these ships? We know what we need to do with NATO and in the Pacific. But this is going to sort of require us to scratch our head, Huebert said.

The Royal Canadian Navy is only the latest naval force to join the fray in the Far North. Russia, the U.S., China and some European countries have been increasing their maritime capabilities in the region in recent years as part of a seemingly slow military buildup.

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With files from The Canadian Press

2020 Global News, a division of Corus Entertainment Inc.

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Canadian Navy to welcome first Arctic and offshore patrol ship on Friday - Global News

PetroVietnam reports offshore hydrocarbon discovery – Reuters

FILE PHOTO: PetroVietnam oil tanks are pictured in Vung Tau, Vietnam April 27, 2018. REUTERS/Maxim Shemetov

HANOI (Reuters) - Vietnamese state oil firm PetroVietnam made a significant offshore hydrocarbon find during recent exploration drilling, it said on Wednesday.

The new discovery at block 114, 65km (40.39 miles) off the coast of Quang Tri province, comes as the Southeast Asian countrys oil and gas industry struggles to maintain its output as reserves run low, with regional tensions over the South China Sea having affected its offshore activities.

The operator of the block is assessing reserves and aims to start production there in 2028, PetroVietnam said in a statement on its website.

The block is operated by Eni Vietnam B.V. and ESSAR E&P Limited.

The discovery has helped PetroVietnam to meet its target of raising its reserves for this year, the government said in a separate statement without elaborating.

This is important in paving the way for further exploration and production activities in the block and its adjacent area, the government said.

Vietnams crude oil output in the first seven months of this year fell 14.1% year on year to 5.72 million tonnes, government data showed on Wednesday. Its natural gas output fell 8.8% to 5.65 billion cubic metres.

Reporting by Khanh Vu; Editing by David Goodman

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PetroVietnam reports offshore hydrocarbon discovery - Reuters

Xodus Group and E&E Solutions form Japanese offshore wind partnership – WorldOil

7/28/2020

Global energy consultancy Xodus Group has agreed a partnership with Japanese consultancy E&E Solutions to deliver in-depth advice and analysis for the fast-developing offshore wind market in Japan.

The collaboration will bring together Xodus Groups international track record in helping clients address industry challenges to enable offshore wind, alongside E&E Solutions extensive experience of providing environmental and renewable energy consulting services across Japan. The partnership will provide integrated advisory and technical services to deliver value to offshore wind developers, owners, operators and lenders.

As the leading consultants for wind projects in Japan, E&E Solutions has significant local market knowledge, including an extensive understanding of Japanese environmental laws and the countrys leasing and consenting system.

Xodus brings multidisciplinary expertise in offshore wind. The companys integrated skills base covers techno-commercial advisory capabilities along with subsea infrastructure, pipelines and cables engineering, offshore engineering, risk management, environmental, supply chain analysis and project development planning. Xodus also brings a proven track record in the European and Asian offshore wind, cables and interconnectors market.

Adrian de Andres, head of offshore renewables development at Xodus Group said: Japan is becoming one of the worlds leading countries in offshore wind development, driven by the need to accelerate the energy transition in this country and the rapid cost reduction of offshore wind technology worldwide. There are considerable opportunities within the Japanese market, especially around the ongoing and future offshore wind licencing rounds. As pioneers in the floating wind sector, delivering work for the Hywind Scotland project, we are confident that by bringing our practical expertise and combining it with the local experience of E&E solutions, we can share lessons learned from global developments, maximise technical solutions and efficiencies and ultimately support Japans carbon reduction goals.

Tomohiko Ike, Director of E&E Solutions added: With a background of providing support to renewable energy projects around the world, the cooperative arrangement with Xodus Group will allow us to provide a holistic service covering engineering, environmental and commercial advice. By engaging with Xodus, which has expertise in floating offshore wind power generation, we will be able to support the further growth of offshore wind especially within Japanese waters, where few shallow waters are present, providing independent advice for consentable, constructible and commercially viable offshore wind projects.

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Xodus Group and E&E Solutions form Japanese offshore wind partnership - WorldOil