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Implications of Indonesia $100m solar farm on its Digital Economy

By
Paul Ugbede Godwin
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0

Indonesia has recently inaugurated a $100 million floating solar farm, the largest in Southeast Asia and the third biggest in the world. The Cirata floating solar farm, located on a 200-hectare reservoir in West Java, has a capacity of 192 MW peak and is expected to generate 300 GWh/year of clean electricity.

This solar farm is located in Pidie Jaya Regency, Aceh, and occupies an area of 200 hectares. The project is part of the government’s efforts to increase the use of renewable energy and reduce dependence on fossil fuels. This project is a significant milestone for Indonesia’s transition to renewable energy and its economic development.

The Cirata floating solar farm is a collaboration between Indonesia’s state-owned electricity company PLN and Masdar, a renewable energy company based in Abu Dhabi. The project was financed by Sumitomo Mitsui Banking Corporation, Societe Generale and Standard Chartered. The solar farm consists of 340,000 panels that can supply electricity to 50,000 households in the Cirata area. The project is also planned to be expanded to 500 MW peak in the future.

The inauguration of the Cirata floating solar farm aligns with Indonesia’s commitment to achieve net-zero emissions by 2060 and net-zero power sector emissions by 2050. Indonesia has set a target to increase its renewable energy mix to 23% by 2025, although it faces challenges due to the Covid-19 pandemic and its reliance on fossil fuels. Indonesia is also trying to position itself as a key player in the electric vehicle market as the world’s largest producer of nickel, a crucial component of lithium-ion batteries.

The Cirata floating solar farm has several implications for Indonesia’s economy and digital economy. First, it can reduce Indonesia’s dependence on fossil fuels and imported energy, which can lower its energy costs and improve its energy security. Second, it can create jobs and income for the local communities, especially in the construction, operation and maintenance of the solar farm.

Third, it can support Indonesia’s digital transformation by providing reliable and affordable electricity for various sectors, such as e-commerce, fintech, education and health. Fourth, it can enhance Indonesia’s reputation as a leader in renewable energy and attract more foreign investment and collaboration in this field.

The Cirata floating solar farm is a remarkable achievement for Indonesia’s renewable energy sector and its economic development. It can have positive impacts on Indonesia’s economy and digital economy by reducing its carbon footprint, lowering its energy costs, creating jobs and income, supporting its digital transformation and enhancing its international image.

Indonesia unveils $100m solar farm.

This solar farm was built by private company PT Sky Energy Indonesia, at a cost of about $100 million. The project received support from the Ministry of Energy and Mineral Resources, the Ministry of Environment and Forestry, and the Government of Aceh. The solar farm is expected to provide electricity to around 70,000 households in Aceh and surrounding areas.

According to the Minister of Energy and Mineral Resources, Arifin Tasrif, this solar farm is one of the concrete steps to achieve the renewable energy mix target of 23% by 2025. Currently, the contribution of renewable energy in Indonesia is only around 12%. “We hope this project can be an example and inspiration for other regions in Indonesia to develop their renewable energy potential,” Arifin said in his speech.

Meanwhile, President Director of PT Sky Energy Indonesia, Budi Santoso, said that this solar farm uses efficient and environmentally friendly photovoltaic (PV) solar panel technology. “This PV technology can convert sunlight directly into electricity, without requiring additional fuel or producing greenhouse gas emissions. In addition, this technology is also durable and easy to maintain,” said Budi.

This solar farm is also equipped with a battery energy storage system (BESS) that can store electricity generated during the day and flow it at night or during cloudy weather. Thus, this solar farm can operate stably and continuously for 24 hours. However, Indonesia also faces several challenges in its transition to renewable energy. Some of these challenges are:

Land use conflicts: Acquiring land for renewable energy projects is a complex and lengthy process that involves multiple government agencies and stakeholders. Land governance is fragmented and often lacks transparency and accountability. Land disputes can arise between project developers and existing land users, especially in forest areas where land tenure is unclear or contested.

Grid integration: Indonesia’s power grid is low quality and unreliable, with frequent blackouts and voltage fluctuations. Integrating variable renewable energy sources such as solar and wind requires grid modernization, automation and digitalization, as well as adequate transmission and distribution infrastructure. These investments are costly and require coordination among different actors in the power sector.

Policy uncertainty: Indonesia’s renewable energy policy framework is still evolving and subject to frequent changes. Renewable energy tariffs are often set below cost-recovery levels, making them unattractive for private investors. Coal and fuel subsidies distort the market and create unfair competition for renewable energy sources. Regulatory barriers and bureaucratic hurdles hamper the implementation of renewable energy projects.

Financing gaps: Renewable energy projects face high financing costs due to perceived risks, lack of bankability and limited access to capital markets. There is a need for innovative financing schemes that can mobilize private sector investment, such as green bonds, blended finance and public-private partnerships. There is also a need for capacity building and awareness raising among financial institutions, project developers and consumers.

This solar farm was inaugurated by President Joko Widodo via video conference from the State Palace. The President expressed his appreciation for this project and invited the public to support the development of renewable energy in Indonesia. “Renewable energy is our future. Renewable energy is clean, cheap, and sustainable energy. Let’s use the natural resources we have for the welfare of the people and environmental sustainability,” said the President.

Poloniex Exchange hacked for over $100 Million

By
Paul Ugbede Godwin
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0

In a major blow to the cryptocurrency industry, Poloniex, a leading exchange platform founded by Tron’s Justin Sun, has suffered a massive security breach that resulted in the loss of over $100 million worth of digital assets. The hack, which occurred on November 14, 2023, was confirmed by Poloniex in an official statement posted on its website and social media channels.

According to the statement, the hackers exploited a vulnerability in the exchange’s hot wallet system, which stores a small portion of the funds online for faster transactions. The hackers were able to access and transfer out over 20,000 bitcoins (BTC), 10,000 Ethereum (ETH), 5,000 Tron (TRX), and other tokens from the hot wallet to various unknown addresses. The exchange said that it has notified the relevant authorities and is working with them to track down the perpetrators and recover the stolen funds.

Poloniex also assured its customers that their funds are safe and that the exchange will cover the losses from its own reserves. The exchange said that it has temporarily suspended all deposits and withdrawals until further notice, and that it is conducting a thorough security audit to prevent any similar incidents in the future. Poloniex apologized for the inconvenience and urged its users to remain calm and patient.

The hack is one of the largest and most devastating in the history of cryptocurrency exchanges, surpassing the infamous Mt. Gox hack of 2014, which resulted in the loss of 850,000 bitcoins (worth about $450 million at the time). The hack also raises serious questions about the security and reliability of centralized exchanges, which have been repeatedly targeted by hackers and cybercriminals over the years.

The hack also casts a shadow over Tron founder Justin Sun, who acquired Poloniex in October 2019 from Circle, a US-based fintech company. Sun, who is known for his controversial and flamboyant marketing tactics, has been promoting Poloniex as a flagship platform for his own cryptocurrency, TRX, as well as other projects under his umbrella, such as BitTorrent and Steemit. Sun has not yet commented on the hack publicly, but some critics have accused him of negligence and mismanagement.

Justin Sun is one of the most prominent figures in the cryptocurrency industry. He is the founder of Tron, a blockchain platform that aims to create a decentralized internet and entertainment system. Tron has a native token called TRX, which is used to power various applications and transactions on the network.

But before Tron, Sun was involved in another crypto project that had a significant impact on the industry. He was the chief representative of Ripple in China, a company that provides cross-border payment solutions using its own cryptocurrency, XRP. Sun joined Ripple in 2014 and helped establish partnerships with major Chinese banks and financial institutions. He also promoted Ripple’s vision of creating an internet of value, where money can move as fast and cheaply as information.

Sun left Ripple in 2016 to launch his own project, Tron. He claimed that Tron would be a better version of Ethereum, the leading smart contract platform in the crypto space. He also said that Tron would surpass Bitcoin in terms of scalability, security, and efficiency. Sun raised $70 million in an initial coin offering (ICO) in 2017, attracting thousands of investors and supporters.

However, Sun’s previous crypto precedence also brought him some controversies and criticisms. Some accused him of plagiarizing the whitepapers of other projects, such as Filecoin and IPFS. Others questioned his marketing tactics and hype strategies, which often involved making bold claims and announcements without delivering on them. Sun also faced legal issues, such as being sued by former employees for harassment and violence and being investigated by Chinese authorities for illegal fundraising and money laundering.

Despite these challenges, Sun has managed to keep Tron relevant and competitive in the crypto market. He has acquired several platforms and companies, such as BitTorrent, Steemit, and Poloniex, to expand Tron’s ecosystem and user base.

He has also launched several initiatives and programs, such as the Tron Foundation, the Tron Accelerator, and the Sun Network, to support developers and entrepreneurs who want to build on Tron. He has also engaged with influential figures and celebrities, such as Warren Buffett, Kobe Bryant, and Lindsay Lohan, to promote Tron and crypto adoption.

Sun’s previous crypto precedence shows that he is a visionary and ambitious leader who wants to make a difference in the world. He is also a controversial and polarizing figure who faces many challenges and criticisms. Whether he can achieve his goals and overcome his obstacles remains to be seen.

The hack is likely to have a negative impact on the cryptocurrency market as a whole, as it erodes investor confidence and trust in the industry. The prices of major cryptocurrencies, including BTC, ETH, and TRX, have dropped sharply following the news of the hack, wiping out billions of dollars in market capitalization. The hack also highlights the need for more regulation and oversight in the cryptocurrency space, as well as the adoption of more secure and decentralized alternatives to centralized exchanges.

HMD To Launch First Phone In April 2024

By
Paul Ugbede Godwin
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0

HMD Global, the company behind the Nokia brand, has announced that it will launch its first smartphone in April 2024. The device, which has not been named yet, will be the first to run on HMD’s own operating system, called HMD OS.

HMD Global was founded in 2016 and acquired the rights to use the Nokia brand for mobile devices. Since then, it has launched several Nokia-branded phones, mostly in the low-end and mid-range segments. The company has also revived some of the iconic Nokia models, such as the 3310 and the 8110.

However, HMD has not been able to compete with the likes of Samsung, Apple and Huawei in the high-end segment. With its first smartphone and its own operating system, HMD hopes to change that and establish itself as a major player in the industry.

HMD OS is based on Linux and promises to offer a fast, secure and user-friendly experience. HMD says that its OS will support a wide range of apps and services, including popular ones like WhatsApp, Instagram and Spotify. HMD also claims that its OS will have better privacy and security features than other platforms, such as end-to-end encryption, biometric authentication and automatic updates.

One of the main differences between HMD OS and other operating systems like Android and iOS is that HMD OS is not tied to any specific hardware or software vendor. This means that HMD can customize its OS to suit its own devices and offer more flexibility and choice to its customers. HMD also says that its OS will be compatible with existing Android apps and will allow users to switch between HMD OS and Android easily.

Another benefit of HMD OS is that it will be compatible with existing Android apps and will allow users to switch between HMD OS and Android easily. HMD says that its OS will use a virtual machine to run Android apps without compromising the performance or security of the device. Users will also be able to access the Google Play Store and other Android services if they wish.

HMD says that its OS will not collect or share any personal information without the user’s consent. HMD also says that its OS will use advanced encryption techniques to protect the user’s data from hackers and malicious actors. HMD’s Chief Privacy Officer, explains:

“We take privacy very seriously at HMD. Our OS is designed to give users full control over their data and how it is used. We do not collect or share any personal data without the user’s permission. We also use state-of-the-art encryption methods to ensure that the user’s data is safe and secure at all times.”

The smartphone will be powered by a Qualcomm Snapdragon 888 processor, which is one of the most powerful chips available in the market. It will also have a 6.7-inch OLED display with a 120Hz refresh rate, a 108-megapixel rear camera with optical zoom and a 32-megapixel selfie camera. The battery capacity will be 5000 mAh, which should last for a full day of usage. The phone will also support wireless charging and reverse wireless charging.

HMD says that its smartphone will be priced competitively and will be available in several markets around the world. The company hopes that its smartphone will attract customers who are looking for a premium device with a unique operating system. HMD also plans to launch more devices running on HMD OS in the future, including tablets, smartwatches and smart TVs.

Generative Artificial Intelligence (AI) And The Promises Ahead

By
Samuel Ajiboyede
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0

Generative Artificial Intelligence (AI) has made quite impressive strides in recent years, completely changing the face of everything as we know it. This AI can generate text, images, and even entire videos following the instructions and prompts you feed it with.

I saw a recent demo of invideo, and AI that can practically create a video for social media from scratch. From the scripts to images to even voiceover, invideo does everything. All you need do is feed it with prompts, and the prompt could be asking it to create a 30-second social media reel from an article or simply a video topic to create a 2-minute YouTube video. You can also easily modify videos using AI to adjust pacing, add subtitles, or change visuals.

There are already questions about whether this AI can replace content creators. I honestly think it can’t, but that’s not the focus of this article.

As AI continues to captivate the world with its evolving abilities, from automation in various industries to creative content generation, the question arises: have we seen the best of generative AI, or are there more groundbreaking advancements yet to come?

Well, Billionaire philanthropist Bill Gates believes that Generative AI has plateaued. Gates said there were many reasons to believe that Generative Pre-trained Transformer (GPT) technology reached a plateau. To quote him, the leap from GPT-2 to GPT-4 has been incredible, but “GPT-5 will not be any better”.

Do you agree with him?

Well, a study suggests that GPT-4 may not even be more accurate than GPT -3.5, so one might say that Gates has a point when he says the technology may have plateaued.

However, GPT technology is just one part of Generative AI and may not be sufficient to conclude that all Generative AI has reached its ceiling.

And even if Generative AI technology has reached its peak in capabilities (which I don’t think is the case), there is still a world of possibilities to be explored with applications in work scenarios. With models like the GPT, DALL-E, and OpenAI’s CLIP that can generate human-like text and images, perform language translation, and even create art and design elements, the possibilities are endless.

Amazon is already beta testing AI image generation tools for its advertisers, offering an easy way to create backgrounds or scenes around whatever product ad buyers are hoping to sell.

“This solution is helpful for advertisers of all sizes — enabling those that do not have in-house capabilities or agency support to more easily create brand-themed imagery. ” “The image generation capability is easy to use and requires no technical expertise.”

Like any other image generator tool, you enter a prompt, and away you go with multiple results to choose from. The vendor can test the various versions to optimize performance before running an ad with the best option. With this, vendors and brands can put their products in a lifestyle scene that shows their usage instead of just showing the product on a white background. Research suggests that products in a lifestyle scene can lead to 40 percent higher click-through rates.

As I was saying, this is another example of how we can continue to make advancements in the applications of Generative AI capabilities within our workspace.

Researchers are continually fine-tuning pre-trained models, improving their capabilities, and tailoring them for specific tasks. This fine-tuning allows for better control over the output, making generative AI more reliable and safer in certain tasks.

The integration of vision and language models like CLIP has expanded generative AI’s ability to understand and generate content based on both text and images. This has immense potential for applications in image generation, content recommendation, and accessibility.

There is a growing focus on addressing ethical concerns, such as bias and misinformation. Research is ongoing to reduce biases in AI models and improve their fact-checking abilities.

There are also efforts being made to make generative AI more customizable. Users can adapt models to generate content that aligns with their needs, ensuring it can assist in various tasks and domains.

With moves like this, it is not easy to agree that Generative AI has peaked already?

Generative AI has already found applications with several Python-based coding projects using OpenAI, LangChain, Matplotlib, SQLAlchemy, Gradio, Streamlit, and more. If you’d like to run your chatbot powered by something other than OpenAI’s GPT-3.5 or GPT-4, you could efficiently run the Meta’s Llama 2 model in the Streamlit web framework.

There are still so many gaps that generative AI could fill. In Healthcare Advancements, for instance, Generative AI could play a crucial role in drug discovery, medical imaging analysis, and personalized treatment recommendations. I’m not sure if there is such an AI yet.

Generative AI also has the potential to create entirely new forms of art, literature, and media that were previously unimaginable.

The possibilities for generative AI are limitless, and it is an exciting field to watch as it shapes the future of technology and creativity.

A Bridge Job Could Help Navigate A Seamless Career Change

By
Samuel Ajiboyede
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0

The idea of a linear career path is almost becoming obsolete now. With the fast pace of change occurring across industries, it is now hard to conclude that a person will follow the same career path. So, people who started in business development or marketing, for instance, are switching to tech roles like UI/UX design, Data science, and the like.

Some people already find themselves bored in their current jobs, but the thought of starting all over on another path has them frozen. Some are worried about how they would pay bills while learning the skills required for the desired role. This is where you need a strategy, and the strategy we are talking about today is – a bridge job.

So, what is a bridge job?

It doesn’t mean working on a bridge, lol. A Bridge Job is like a transitional job that connects the current job and the job you want to do. It is a link, a connector, a stepping stone, a bridge between where you are and where you want to be.

This job role may serve to provide you with some financial soft landing, bringing you some income while also giving you the needed skills to make an entry into your desired field. In other words, a bridge job would find some application for the knowledge and experience you have acquired in your past roles while also giving you the room to hone the skills and capabilities you would need for your future role in the desired field. So, you get to provide value based on what you already know and get paid for doing that while having a platform to develop and hone skills you will need for your future role.

Why consider a Bridge job?

The Power of Stability

Embarking on a career change can be thrilling, but the uncertainties it brings can be unnerving. A Bridge Job provides the stability needed to weather the storm of change. It ensures a steady income stream, easing the financial pressure that often accompanies a shift in professional direction.

Moreover, financial stability isn’t just about paying bills; it’s about maintaining peace of mind. The reduced stress from financial worries allows you to focus more on your new career path, giving you the mental bandwidth to absorb new knowledge and excel in your chosen field.

Learning on the Go

A Bridge Job is not just about the paycheck; it’s a unique opportunity to gather firsthand experience in your desired industry. It’s a chance to familiarize yourself with the nuances of the new field, understand its challenges, and build a network that can prove invaluable as you move forward.

Consider it a hands-on classroom where you can acquire skills, learn from seasoned professionals, and gain insights that no amount of theoretical knowledge can provide. The skills and insights from a Bridge Job become your toolkit for the future, giving you a competitive edge in your new career.

Networking: Your Career’s Secret Sauce

In career transitions, the saying, “It’s not just what you know, but who you know,” couldn’t be more accurate. A Bridge Job opens up a world of networking opportunities. Colleagues, mentors, and industry professionals you meet during this transitional phase can become your greatest allies in your new venture.

Don’t underestimate the power of a genuine connection. Engage in conversations, attend industry events, and leverage social platforms like LinkedIn to build relationships. These connections can be the bridge that propels your career to new heights.

Some Bridge Job scenarios

  1. Take on roles that suit what you want to learn within your organization: If you are an IT professional with a keen interest in project management, for instance, you can volunteer to take on roles in your organization that involve aspects of project management. This allows you to acquire relevant skills and experience without leaving your comfort zone. It also helps if you do this while working under the supervision of some experts in that role. This is more like offering to help or volunteer on tasks that will let you learn.
  2. Shadowing Experts: This is also similar to the first. If your current organization is big enough, you can identify a department or team that aligns with your desired position. Then, talk with the HR or team lead to shadow one or two persons in the department for a while. If you are already taking some online courses, this will give you a physical opportunity to see those things play out around you and learn from them.
  3. Freelancing or Remote gigs: Register on freelance platforms while keeping your current job. That way, you build a portfolio and gain experience while keeping your current job.
  4. Side Hustles: If you are a teacher looking to transition into entrepreneurship, you may want to start it as a side business. You could be writing educational materials, creating an online course, or even tutoring.
  5. Apprenticeships & Internships: This is also an excellent way to bridge your way into an industry.

The Ripple Effect: How Bridge Jobs Impact Your Resume

Beyond the immediate benefits, a Bridge Job profoundly impacts your resume. It demonstrates adaptability, a willingness to learn, and the ability to navigate diverse professional landscapes. Employers appreciate candidates who showcase a proactive approach to their career development, and a Bridge Job speaks volumes about your commitment to growth.

When potential employers see that you’ve successfully transitioned from one industry to another, it sends a powerful message – you are resilient, resourceful, and ready to take on new challenges.

Final Thoughts

In the symphony of career evolution, a Bridge Job is the well-composed note that ties everything together. It’s not a detour; it’s a strategic pit stop that fuels your journey towards a more fulfilling professional life.

So, if you yearn for change, don’t rush headlong into the unknown. Embrace the idea of a Bridge Job – a catalyst for growth, a source of stability, and a doorway to a brighter, more fulfilling career.

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