Sunday 16 May 2021

Italy's underwater archaeological sites

There are many traces of human existence underwater, which are not protected by the UNESCO Convention on the Protection of the Underwater Cultural Heritage. This Convention aims at preventing the distruction or loss of historic and cultural information and looting.
The pictures show some underwater archaeological sites dated back to over 20 centuries ago. They are located 70 Km North from Rome. Unfortunately, in the early 1970s some residential houses were built close to those underwater archaeological sites. The problem is that people, who build those houses, weren't prosecuted. If they had been adequately prosecuted in the 1970s, Italy's underwater cultural heritage would be protected. 


Thursday 13 May 2021

Cryptocurrencies' value continues to drop


With regards to my previous post about cryptocurrencies' regulation, I have just learnt that the American clean energy company based in Palo Alto, Tesla Inc., will no longer accept bitcoin for car purchase.
Many environmentalists and some Tesla's shareholders have been increasingly critical about the way cryptocurrencies are "mined" using vast amount of electricity generated with fossil fuels.
On 27 February, 2021, the British newpaper "The Guardian" wrote: "It's not just the value of bitcoin that has soared in the last year - so has the huge amount of energy it consumes".  In this perspective, a professor of economics at the University of New Mexico recently said that the amount of electricity used to mine bitcoin has been more than the electricity used by entire countries, like Ireland.
On the one hand, Tesla Inc. is accelerating the world transition to sustainable energy with electric cars and integrated renewable energy solutions for home and business. On the other hand, in the first two months of this year bircoin rose in value thanks to an endorsement by Tesla's Elon Musk, who planned to accept the cryptocurrency as payment. This inconsistency is often a major events that affect the markets! The perception of cryptocurrencies' value changes as the market seeks a new equilibrium making price reflect new information and major news. 

The pictures above show how electricity generated with fossil fuels may affect the environment (The power plants in the pictures are located in Italy).