Financial Technology

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Tag: charging

FinTech 101: What is a Green Bank?

What Is a Green Bank?
You may have heard the term “Green Bank” and wondered what it meant. This short article will explain the term and concept behind it.

Green Banks in a Nutshell
A green bank is a bank that exists for the sole purpose of battling earth climate change by funding projects that may be able to decrease the global carbon emissions and increase the use of alternative and renewable fuels and energy. They tend to support infrastructure spending in wind, solar, and other renewable energy space.

Green Banks: Functional Model
Green banks are not climate charities. Their funding is expected to be paid back with a profit for the bank. Currently, they are supported by some states in the U.S. and also by private funding. Green Banks utilize philanthropic and public funds. They generally fund energy projects that beyond the research stage and “good to go”. The Coalition for Green Capital (CGC) is a nonprofit agency that is deeply involved in advocating for green banks’ continued development.

Where Did the Idea for Green Banks Originate?
The idea for green banks started in 2008 when two entrepreneurial-minded, Ken Berlin and Reed Hundt, came up with the concept as part of the Obama transition team’s plans for promoting cleaner energy changes in US society. A proposal to enact federally supported green banks was attached to the American Clean Energy and Security Act. The concept never made it as legislation at the federal level. Green bank supporters were not daunted. Consequently, green bank advocates persuaded some states to take up the cause.

Green Banks: Some Statics
Currently, there are at least ten states that have at least one green bank. In addition, they are in the early stages of catching on globally as well. They also exist in Australia, the United Kingdom, and Malaysia. Within the U.S., green banks have already been involved in the funneling of some $3 billion in funds for clean-energy projects.

Green Banks: Their Future Development
With the advent of the Biden presidency, green banks may again find a firmer footing at the federal level. Indeed, in December 2020, Mr. Biden proposed the idea of a national green bank. They appear sure to gain more traction internationally as the desire to dampen climate change takes hold.

Pros And Cons

Pros and Cons of Wearable Technology

Wearable technology: Snapchat Spectacles, Fitbit fitness tracker, Apple Watch, Google glasses.

The concept of wearable technology has been a sought-after market since creative minds put it in mainstream media (yes, I am referencing movies).

One out of six consumers in the U.S. currently owns and uses wearable technology, according to multiple sources. Whether its a watch that allows them to make a phone call or a bracelet that tracks your calories burned, Americans are all in when it comes to technology of the future.

Although the successes of wearable tech are far more discussed than the failures and its impact is further reaching than ever, it remains essential to consider the pros and cons of wearable technology for citizens.



Convenient. As a society, one of the top things we look for is convenience, which is one of the most significant selling points of wearable technology. You can easily monitor your progress of exercise or steps are taken without giving it one bit of attention. Other wearable technologies take the convenience even further. For example, the Apple Watch allows users to learn essential news stories, check messages and keep themselves informed with a glance at their watch.

Useful. In 2014, Rackspace and Goldsmiths released a survey that found wearable tech increased the productivity of employees by 8.5% and increased with overall level of job satisfaction by 3.5%. It is suggested that combining wearable tech with particular applications could improve a variety of businesses processes.

Hands-Free User Experience. This aspect is one that is often mentioned when selling products. As we get busier and busier as a society, improvements to wearable tech allow us to do more than ever before. In specific enterprise settings, such as manufacturing and oil and gas companies, hands-on products are very profitable.



Expensive. The prices for an individual piece of wearable technology are jaw-dropping. For instance, the cheapest version of the Apple Watch costs around $350 and the current Fitbits go from $100 to $250 depending on the features included. The expense of the tech is immediately called to question by the longevity of the products.

Data Accuracy. One of the biggest critical critiques of wearable tech, such as the Fitbit, is the accuracy of its data. There needs more development in the accuracy of each’s physiological measurements, as well as better positioning for sensors to analyze data.

Charging. This is the #1 top issue with wearable technology. Currently, device manufacturers are researching ways to extend battery life, while also looking for a natural charging solution. It seems that the answer to these issues will be wireless charging, which can hopefully lead to actual waterproof tech.

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