Author: Jack Pearson

How blockchain technology could electrify the energy industry

Posted on by Jack Pearson

Blockchain technology has the potential to produce new innovations in the energy industry, such as peer-to-peer electricity trading. However, at this stage it is unclear if the technology will be implemented widely enough to disrupt the energy industry. Despite investors backing blockchain tech, the question remains: when will we see scalable, commercial blockchain solutions that can deliver real value in the energy industry?

In the energy sector we are seeing the development of blockchain picking up pace once again, with proof-of-concepts being deployed successfully in sandboxes around the world. Two years ago, there were only a handful of start-ups in the energy business utilising blockchain technology for peer-to-peer electricity trading.

Today, there are more than 100 active companies worldwide. In fact, in the last two years, companies using blockchain have mobilised investment capital of more than $1.5bn, particularly in Europe, Asia, Australia and the US.

So far, the main industries to find applications include energy, mobility and the Internet of Things. Some of the most promising use-cases are initiatives such as creating trustworthy certificates of origin, green mining and renewable project financing. Unfortunately, the success of these use-cases has meant investments have been diverted away from areas of industry that energy desperately needs to develop, such as further research into smart homes, improving energy efficiency and the idea of trading electricity wholesale.

Market maturity?
While we are seeing promising advances in blockchain usage, there is still discord between levels of funding and signs of commercial maturity. Most use-cases are struggling to advance from their proof-of-concept stage, to testing in the field outside a sandbox environment. Use-cases around wholesale trading and digitisation of energy data are currently the most commercial, but peer-to-peer use-cases are receiving the most funding and attention in the energy market.

Start-ups, corporations and investors are all facing different scaling challenges when developing their blockchain products. To accelerate development, there is scope for energy companies to actively encourage organisations to consider the commercial potential for blockchain and ask them to invest accordingly. Start-ups also need to be more focused on further technical challenges, like scaling public blockchain, as well as on issues surrounding governance, regulation and the energy market. Investors are less sceptical than they were two years ago, but they still see the midterm commercial scale as being one to two years away. Despite the flurry of activity, most blockchain applications are maturing at a slower pace than investors would like. The hype around blockchain has subsided, so there is now more pressure on start-ups and innovators to demonstrate the value of their project.

While we are seeing promising advances in blockchain usage, there is still discord between levels of funding and signs of commercial maturity

Development and growth
The blockchain space lacks significant industry research or regulation, more of which would help new start-ups to establish market strategies, assess the advantages of their chosen business model and facilitate more accurate forecasts for potential revenue. The Energy Web Foundation (EWF), the largest blockchain non-profit in the energy industry, provides technical support for energy companies looking to integrate blockchain into their business model. The EWF has been attracting affiliates (more than 100 start-ups, incumbents and multi-national players) from all over the globe, establishing a hotbed for cutting-edge business use-cases of blockchain in the energy sector.

In addition, the EU founded the International Association of Trusted Blockchain Applications (INATBA) in April 2019. Open source platforms and international associations like the INATBA could aid the advancement of blockchain and allay investors’ fears.

The EWF chain’s test network, Tobalaba, will update to version two this year and transition from its test phase. The updated EWF web chain is expected to provide a scalable, low-cost, enterprise-grade platform that energy companies and start-ups alike can use to develop decentralised applications for commercial blockchain-based apps.

Blockchain technology is still far from being commercially viable in the energy industry. Although companies are now looking to develop use-cases for blockchain, the applications are yet to reach maturity and produce a significant return on companies’ resources and time. Increased regulation and research will aid new start-ups to develop scalable solutions and build upon the experience of other companies. As it stands, it will be a few years before we see the technology’s real impact on the energy industry.

Top 5 ways to ensure your app maintains peak performance

Posted on by Jack Pearson

With the digital revolution well underway, customers have come to expect 24/7 access to services and businesses have learnt to deliver it. Apps are an excellent way to do so, however it is not enough to simply launch an app. They must actually work, too.

By following these five tips, app developers can deliver a product that upholds peak performance long beyond launch.

Put functionality first
When creating an app, too often companies will focus on optimising their visual interface first. However, app functionality is of even greater importance.

Users expect apps to have a fast, smooth and responsive interface, so investing time and money into the operating system is more important than your design if you want your app to appear professional and competent.

Meet user expectations
Have you thought about the number of applications you’ve downloaded and only used once?

Users expect apps to have a fast, smooth and responsive interface, so investing time and money into the operating system is important

The likelihood is that the app didn’t work as expected, suffering from crashing, slow loading times, a poor user interface or a lack of developer activity to provide updates.

When you monitor your app with SIGOS, every time your app isn’t working as expected you receive an alert explaining the problem and how to find and fix it.

Test on both iOS and Android
Testing your app on different operating systems is essential. Your application may work perfectly on Android but your iPhone version could be mired with bugs.

SIGOS tests your app on all of the operating systems it can be found on, ensuring it maintains peak performance across all of its platforms and iterations. The company will guarantee that your app is tested on real devices and features easy scripting and rich reporting.

Carry out continuous testing
Your app could run smoothly when it is initially launched, but subsequent updates can produce unexpected bugs and errors that you will need to look out for. Therefore, it’s important to quality check your app’s performance with regression testing before updates are officially released and then to do so continuously afterwards.

A buggy app can damage the reputation of the wider business, potentially leading to lost revenue.

Watch out for updates
Operating system updates are fairly frequent and usually have an impact on app functionality, making them another thing to keep an eye on. Without a proper app monitoring procedure, maintaining a high-quality product becomes difficult.

Delays in identifying and fixing bugs can be expensive for your business. Bugs also lead to user complaints, which can have a negative impact on sales opportunities. SIGOS offers businesses peace of mind by monitoring their applications around the clock to detect bugs and issues before users identify them.

Argentina’s Kaszek Ventures raises $600m in boost to Latin American start-ups

Posted on by Jack Pearson

Venture capital group Kaszek Ventures announced on August 29 that it has raised $600m from two new funds, providing a boost to Latin America’s growing start-up ecosystem. Kaszek Ventures is widely credited with a recent surge in start-up investment in Latin America where, in 2018 alone, investment skyrocketed to nearly $2bn.

Kaszek stated it had closed a $375m fund for early-stage companies, while another $225m will go towards supporting companies that are more mature in their development. Raised in about two months, the latest commitments will increase Kaszek’s total capital under management to approximately $1bn. It is the first local early-stage investor to achieve this.

Having once been overshadowed by their peers in Silicon Valley, Latin American entrepreneurs are now finding it much easier to raise capital

The venture capital group was launched in 2011 by Hernan Kazah and Nicolas Szekasy. The two had previously founded the e-commerce marketplace MercadoLibre, Latin America’s most highly valued tech start-up, before delving into the world of venture capital funding. Since its creation, Kaszek Ventures has invested in over 70 companies, with its portfolio centred in Latin America. Some of its most prolific investments include the digital bank Nubank, fintech start-up Creditas and shipping logistics platform Loggi.

Brazil has long enjoyed higher levels of financing and business growth compared with the rest of the region, but other countries like Colombia and Argentina are also now experiencing start-up booms. This trend can be partly attributed to the adoption of 4G across Latin America, which has facilitated the development of more tech companies. In addition, countries like Colombia have slowly experienced greater political stability and enjoyed increased affluence, which has led to the growth of the middle classes.

This growth has also been fuelled by a huge surge in venture capital funding. Having once been overshadowed by their peers in Silicon Valley, Latin American entrepreneurs are now finding it much easier to raise capital. Between 2016 and 2018, venture capital funding nearly quadrupled. Earlier this year, the region received its largest ever venture capital deployment in the form of a $5bn fund from Japan’s SoftBank Group. With Kaszek Ventures’ latest commitments, it seems that the time is now for Latin America’s start-ups.

Apple set for new sales in India as foreign direct investment rules are relaxed

Posted on by Jack Pearson

India has liberalised its foreign direct investment rules, in a boost to single-brand retailers such as Apple. The tech giant has lobbied the Indian Government to relax its rules for years, which has prevented the company from opening online stores without first establishing a bricks-and-mortar retail presence. The rules also stipulated that companies must source 30 percent of their production locally.

Now, thanks to reforms announced on August 28, India’s sourcing laws will change so that products manufactured in accordance with the 30 percent sourcing rule can now be sold in other markets, not just in India. In addition, single-brand retail companies will be able to set up online stores before they open retail outlets.

Although smartphone sales are currently in decline around the world, India’s smartphone market remains highly attractive – it is the world’s fastest growing, and also its second largest

To boost sales, several iPhone models have been assembled locally. This allows the company to enjoy some of the tax benefits Narendra Modi’s government have provided as part of its Make in India initiative. However, because retail stores have not been set up in India, Apple has sold its products in the country through third-party offline retailers and e-commerce sites like Amazon. These companies have tended to offer heavy discounts on the iPhone and MacBook Air products. Although this has boosted sales, Apple executives have voiced their dissatisfaction with this arrangement on the grounds that it dilutes the brand’s image.

Apple is now poised to launch online sales of its devices in India within the coming months. It is also hopeful to set up its first retail store, although this is likely to happen further down the line. “It will take us some time to get our plans underway and we’ll have more to announce at a future date,” a spokesperson said.

Although smartphone sales are currently in decline around the world, India’s smartphone market remains highly attractive – it is the world’s fastest growing, and also its second largest. For Apple, these new reforms will make doing business in India easier and more lucrative than ever, helping it to catch up with Chinese smartphone manufacturers, such as Xiaomi, which have benefitted from aggressive uncontested marketing in India.

Sygnum takes steps to become one of the world’s first crypto banks

Posted on by Jack Pearson

Crypto firm Sygnum has become one of the first to receive conditional banking licences from Swiss regulators, in a landmark move that could see digital assets become more established within the financial sector. Sygnum’s co-founders, Mathias Imbach and Gerald Goh, told Bloomberg on August 27 that they now planned to obtain similar licences in Singapore.

Sygnum is a digital asset technology group based in Singapore and Switzerland. On August 26, the company was awarded a provisional banking and securities dealer licence from the Swiss Financial Market Supervisory Authority. As a result, Sygnum is set to become an official bank later in the year.

Cryptocurrency-related financial services are at a nascent stage, as blockchain infrastructure and regulation within the sector is still largely underdeveloped

Once it operates as a Swiss bank, the company will be able to issue, store, trade and manage bitcoin and Ethereum, as well as convert fiat currencies into the two cryptocurrencies. Securing a full Swiss banking licence will also enable it to apply for a traditional banking licence in Singapore. In anticipation of this, the company has already begun talks with Singaporean regulators and petitioned for a capital markets services licence.

Cryptocurrency-related financial services are at a nascent stage, as blockchain infrastructure and regulation within the sector is still largely underdeveloped. However, Switzerland has been leading the way in welcoming the technology into the banking industry. Facebook’s Libra project is headquartered in Geneva, and the nation is currently updating its financial legislation to allow the integration of crypto technologies.

Singapore’s banking sector has been comparatively slow to adapt to this disruption. As a result, Sygnum is focusing on raising capital and establishing itself as a key player in order to win regulator approval. It has raised about CHF 60m ($61m) and secured backing from a range of eminent individuals and institutions. For example, Chua Kim Leng, a former assistant managing director at the Monetary Authority of Singapore, is in charge of Sygnum’s anti-money-laundering committee. Assuming the company receives its Singaporean licences, this could signal the institutionalisation of the budding world of cryptocurrency.

Johnson & Johnson to pay $572m in historic opioid trial

Posted on by Jack Pearson

An Oklahoma judge has ruled that pharmaceutical giant Johnson & Johnson must pay $572m for its contribution to the state’s opioid addiction crisis. The case was the first to reach a verdict in light of the thousands of lawsuits filed against opioid creators and distributors. According to the US Centres for Disease Control and Prevention, there have been over 400,000 opioid-related overdose deaths in the US between 1999 and 2017.

The ruling states that the company deceptively marketed opioids by downplaying the risks of addiction, which led to doctors prescribing the drugs heavily. Since 2000, approximately 6,000 people have died in Oklahoma from opioid overdoses.

Addiction to opioids – including prescription painkillers like fentanyl – has led to hundreds of thousands of deaths and destroyed communities across the US

The company announced that it would appeal the judgement after the verdict was delivered. It claimed its painkillers accounted for less than one percent of total opioid prescriptions in Oklahoma and the US, including generic medications. It also argued that the state’s public nuisance accusation was founded on “radical theories unmoored from more than a century of Oklahoma case law”.

Ahead of the case, Oklahoma had already reached a $270m settlement with Purdue Pharma, the maker of OxyContin, as well as an $85m settlement with Teva Pharmaceuticals. The fine for Johnson & Johnson was significantly lower than some investors and analysts had expected, causing the company’s shares to rise by two percent in extended trading after the verdict.

The US’ opioid epidemic is widely considered to be one of the worst public health crises in the nation’s history. Addiction to opioids – including prescription painkillers like fentanyl – has led to hundreds of thousands of deaths and destroyed communities across the US.

Plaintiffs in other opioid lawsuits are sure to have been following the Oklahoma case closely. Two Ohio counties are currently preparing for a trial in October, which will consolidate 2,000 opioid lawsuits. It’s highly likely that the Oklahoma case will shape the nature of this upcoming trial, as its verdict represents a significant step forward for holding pharmaceutical companies accountable for their role in the crisis and its consequences.

YouTube shuts down accounts for spreading Hong Kong disinformation

Posted on by Jack Pearson

Google has announced that YouTube, its video-streaming service, has taken down more than 200 channels that are allegedly part of a coordinated influence campaign by the Chinese Government to spread disinformation about the protests in Hong Kong. The decision follows similar actions taken earlier this week by Twitter and Facebook, which both accused the Chinese Government of carrying out similar campaigns on their platforms.

Unrest in Hong Kong began in response to a bill that would have granted powers to Chinese courts to allow the extradition of defendants from the city-state to mainland China in order to stand trial in the state-controlled courts. Hong Kong’s courts are popular in the city-state because of their independence and the separation of powers. Hong Kong’s governance model is a by-product of the city’s status as a former British colony until its return to China in 1997. The bill was eventually suspended, but protests have continued nonetheless, with many calling for an end to Chinese interference in their semi-autonomous affairs.

On August 19, Twitter announced that it had removed hundreds of accounts referring to protestors as “cockroaches” and dangerous extremists. Some of these channels posed as news organisations or independent bodies, but the company found that they were in fact linked to the Chinese Government. China’s Ministry of Foreign affairs denied these claims, however.

Google said the discovery of the 210 YouTube accounts was “consistent” with those made by Twitter and Facebook. However, unlike Twitter and Facebook, Google did not openly accuse the Chinese Government of being behind the campaign. The company did not disclose the content of the videos the accounts had posted or how popular they were.

On August 19, Twitter announced that it had removed hundreds of accounts referring to protestors as “cockroaches” and dangerous extremists

Tech giants have taken an inconsistent stance on authoritarian regimes in recent years. In 2014, Google refused to take down videos of Putin’s opposition, Alexei Navalny, when ordered to by the Russian Government. However, in 2018, it complied with Russian orders to remove YouTube videos promoting a rally led by Navalny’s Anti-Corruption Foundation.

Financially, it is in the interest of social media companies to forge close relationships with governments around the globe, allowing them to expand their services worldwide. However, social media giants are coming under increased scrutiny as the human cost of their compliance becomes more apparent.

Blockchain platform for credit history launched in Sierra Leone

Posted on by Jack Pearson

Kiva, a San-Francisco-based non-profit, is introducing an online ID database in Sierra Leone that uses blockchain technology to track credit history. The platform was launched by Kiva and Sierra Leonean President Julius Maada Bio on August 21 in Freetown, the country’s capital.

It’s hoped the initiative will enable Sierra Leone’s citizens to secure loans, establish credit histories and gain access to financial services.

The platform works by giving each prospective borrower a digital wallet. Their transactions are recorded on a blockchain ledger, which ensures user information is secure and can’t be tampered with

More than three quarters of Sierra Leone’s seven million citizens are excluded from the formal banking sector, due to the West African country’s standing as one of the poorest in the world. The use of informal financial institutions like community banks is therefore common in the country. However, these projects have no way of establishing the identity or credit history of borrowers, and therefore tend to offer loans with very high interest rates to minimise lender risk.

Kiva is a non-profit that aims to increase financial inclusion around the world. It has deployed a total of $1.3bn in loans across almost 80 countries. This will be the first time the company has implemented an online credit system.

The platform works by giving each prospective borrower a digital wallet. Their transactions are recorded on a blockchain ledger, which ensures user information is secure and can’t be tampered with. Lenders will then be able to access citizens’ credit histories by using fingerprints and other biometric data previously collected by the Sierra Leonean Government.

A potential flaw in the platform is that the wallet can only be accessed through an online app, even though the majority of Sierra Leoneans have limited access to the internet. However, Kiva plans for users to get around this by using MiFi devices that can connect to the internet via phone networks.

Sierra Leone’s government aims to have all banks and microfinance institutions set up with the system by the end of the year. As one of the poorest countries in the world, Sierra Leone has a pressing need for improved financial inclusion within the global economy. With greater access to financial services, its population will be able to improve its ability to claim a stake in the digital economy.

Facebook grants users more control over how their data is shared

Posted on by Jack Pearson

On August 20, Facebook announced the release of a new tool that will allow users to prohibit third-parties from storing their personal data. Users will be able to view their ‘off-Facebook’ activity and choose to clear it – a significant concession from the social media giant following the Cambridge Analytica scandal. Users will also have the option to prevent Facebook from using their browsing history for personalised advertising.

It’s worth noting that Facebook will not be deleting data that third-parties have already collected. Instead, it’s disconnecting data from users’ personal information on Facebook. This means companies will be able to see that someone has visited their website, but not identify the person or sell their data on – a system akin to the browsing privacy afforded to VPN users.

Facebook will not be deleting data that third-parties have already collected. Instead, it’s disconnecting data from users’ personal information on Facebook

However, if a significant number of Facebook users disconnect their browsing data, this could put a dent in Facebook’s revenue. Targeted advertising is highly profitable for the company; in the second quarter of this year, Facebook made nearly $17bn from ad sales. Erin Egan, Chief Privacy Officer at Facebook, and David Baser, Director of Product Management, acknowledged in the announcement that the new feature could have “some impact” on the business.

This will, of course, depend on how many people make use of the tool. Few Facebook users actually know about the social network’s pre-existing privacy settings. Considering this, it seems unlikely that the majority will now take the initiative to disconnect their browsing data.

The feature will be rolled out in Ireland, South Korea and Spain before it is made available to users around the world. It’s a much-anticipated move from the social network, which has come under heavy criticism for its privacy practices.

While the new tool marks a step in the right direction, it is unlikely to satisfy the company’s critics. Many privacy advocates are calling for Facebook to not simply increase transparency around the data it gathers, but to stop data collection altogether.

US leads AI race but China is hot on its heels

Posted on by Jack Pearson

The US is currently the global leader in AI, but could soon lose top spot to China, according to a report released by the Centre for Data Innovation on August 18. It also concluded that the EU is falling behind in the race to develop AI. The nations that achieve AI dominance stand to make significant economic gains in the future.

According to the report, the US’ top position is largely thanks to its thriving AI start-up ecosystem, which enjoys significant private equity and venture capital funding. The country also leads in the development of semiconductors and the computer chips needed for AI systems.

Although China is now second to the US, it is rapidly gaining ground in terms of AI capabilities

Each region was compared across six key metrics: talent, research, development, adoption, data and hardware. The US leads in four of these categories (talent, research, development and hardware) while China leads in adoption and data. Overall, the US scored 44.2 out of 100, while China totalled 32.3 and the EU 23.5.

Although China is now second to the US, the report concluded that it is rapidly gaining ground in terms of AI capabilities. In 2017, the country announced its initiative to become dominant in AI by 2030. The ability of China’s central government to gather huge amounts of data on its citizens gives it a distinct advantage in the AI race since the technology requires large datasets in order to learn faster and more effectively.

The report also found that the EU is struggling to realise its AI ambitions. The bloc hopes to make itself “the world-leading region for developing and deploying cutting-edge, ethical and secure AI”. However, while it is a strong performer in the talent and research categories, the EU is falling behind in commercial AI adoption.

The report concludes that, unless the EU can significantly accelerate its AI initiatives, it is currently unlikely to catch up with the US or China. This is fast becoming a race with only two main competitors.

SoftBank Vision Fund invests $110m in renewable energy storage technology

Posted on by Jack Pearson

SoftBank Vision Fund announced on August 15 that it has invested $110m in Energy Vault, a Swiss start-up that is developing energy storage technology. As nations come under pressure to reduce their carbon emissions, many have pledged to switch to renewable energy sources. However, one of the biggest challenges they face is how to store energy at scale.

Energy Vault hopes to solve this problem. Using towers of huge cement bricks, each weighing 35 tonnes, it can store the energy generated by solar or wind power plants. Software controls the movements of these bricks so that power is charged and discharged in response to changes in power availability across an electric grid.

This is the first time SoftBank has invested in an energy company – an unusual move considering the early stages of the company’s development

Energy stored in the towers can be delivered for less than the cost of fossil fuels at any hour of the day. Energy Vault states that, while it’s unlikely the storage technology will ever be commonly found in cities, the towers are well suited to remote locations.

Energy Vault’s journey began at Idealab, a Californian start-up incubator. Having officially launched in late 2018, the start-up has since partnered with CEMEX, a Mexican building materials company, and India’s Tata Power. Once Energy Vault has completed its test phase, it will build its first commercially functioning site.

This is the first time SoftBank has invested in an energy company – an unusual move considering the early stages of the company’s development. However, according to Akshay Naheta, Managing Partner at SoftBank Investment Advisors, the company believes Energy Vault could scale quickly.

The $110m investment in Energy Vault testifies to a growing demand for renewable energy storage technologies that will no doubt continue to accelerate in the coming years. According to a report by GlobalData, the global energy storage market is expected to reach 22.2GW in 2023, up from almost 5GW at the end of 2018. Vision Fund’s move is a green light for the market and is likely to trigger other large investments in the technology.

Top 5 food tech innovations

Posted on by Jack Pearson

The food industry is undergoing a new wave of technological disruption. This is largely due to a recent spike in global investment activity. In 2018, SoftBank’s Vision Fund led a $200m investment round in agricultural technology. The year before, total investment was over $1.5bn – a record-breaking amount for the sector.

There is a unique sense of urgency behind this disruption. While population forecasts show demand for food will skyrocket in the next few decades, predictions for the rate of climate change show crop yields are expected to drop by a quarter in that time. Innovation is desperately needed in order to overcome this colossal challenge.

Lab-grown meat
Previously the stuff of science fiction, lab-grown or ‘cultured’ meat is soon to arrive on our dinner tables. When the first lab-grown burger was unveiled in 2013, it cost $280,000 to produce. Now start-ups believe these burgers could soon hit supermarket shelves for $10 each.

Around the world, demand for meat is expected to increase by 70 percent by the year 2025. The mass production of lab-grown meat could fill this critical gap in the food supply chain. AT Kearney predicts that by 2040, 60 percent of all meat consumed globally will come from lab-grown substitutes or plant-based alternatives.

The meat industry has increasingly come under fire for its contribution to global warming. The Adam Smith Institute has found that moving away from traditional animal farming and slaughter could reduce greenhouse emissions by up to 96 percent and free up to 99 percent of the land used in animal farming worldwide.

While forecasts show demand for food will skyrocket in the next few decades, predictions for the rate of climate change show crop yields will drop by a quarter in that time

Biodegradable packaging
We know that our addiction to plastic is unsustainable. Its prevalence is nowhere more apparent than in the food industry — but this is a difficult problem to solve. In the rush to adopt eco-friendly materials, many retailers and restaurants have started using packaging that, on closer inspection, still poses a threat to the environment. In one recent controversy, restaurant chain Chipotle was found to be serving food in their flagship compostable bowls, when in actual fact they contained high levels of the toxic compound fluorine, which made them non-degradable and possibly carcinogenic.

Many companies are now developing innovative biodegradable alternatives that harness waste products in the food industry, such as the six to eight million metric tons of shellfish waste produced every year. Scientists have found a use for this waste by turning the chitin from the shells of shellfish into chitosan, which serves as a biodegradable plastic wrap that could be used in food packaging.

Ghost kitchens
In the US, the restaurant delivery service industry makes up $19bn of the economy. However, the rising popularity of services like Deliveroo and Uber Eats can be bad news for local restaurants. Delivery charges can take around 25 to 35 percent in commissions, which can eat into restaurants’ already slim profit margins. Coupled with the costs of operating a restaurant, many are choosing to cut out the middleman and embrace a fully virtual restaurant model.

So-called ‘ghost kitchens’, or cloud kitchens, are focused purely on making fast-food deliveries. They have no dining area, meaning they can cut back on labour and rent costs. One of the major players in this sector right now is Rebel Foods, which operates 235 kitchens across 20 cities in India and is poised for global expansion.

Vertical farming
There are high hopes vertical farming could reinvent agriculture and meet rising demands for food. Vertical farming is the umbrella term for crops that are grown indoors in urban areas, usually inside huge warehouses. Urban farms present an attractive solution in countries where there’s very little arable land, or in countries that are very dependent on imported food. Vertical farms use much less land and water, and even produce 200 to 400 percent higher yields thanks to close monitoring of the plants’ nutrition intake. This also negates the need for pesticides.

However, in its current form, vertical farming uses a significant amount of energy, most of which is used to power hydroponic systems and artificial light. Until vertical farms can harness renewable energy on a large scale, a more sustainable option might be to harness the rooftop space in cities.

Super crops
In an increasingly challenging climate, people will require crops that are more resilient to extreme weather while also being richer in nutrition. This can be achieved through selective breeding and biofortification, where micronutrients are added to foods at the agricultural stage by crossbreeding standard plant varieties with their wild relatives. Genetic engineering is another option; scientists have found they could genetically modify crops to make them more drought-resistant.

Examples of such super crops include ‘scuba’ rice, which can survive even if submerged underwater for two weeks, and iron-rich beans that can withstand a temperature change of as much as four degrees. Scientists in Dubai are modifying crops like quinoa so they can thrive in the country’s salty and arid deserts. Crops like this could be transformative in areas like sub-Saharan Africa, where malnutrition and deficiency in vital nutrients – crucial for staving off disease and improving cognitive function – is prevalent.