Data Is The New Oil - Major Energy Shift Ahead!

After being out sick for a few days, it is nice to be back on track and write some articles! While my “time-off” I was reading some books, some news articles and watching some videos, but most of the time I was sleeping. Anyways, what I recognized during this time is that we are currently in a very big transition period that will change and shape our world in the future going forward. I am talking about the step towards the new age of data-technology. In this article we will explore the current change that is happening, what new industries might evolve from that and whether it will affect us all.

New Age Has Began

As we all know, we lived in the industrial age for a very long time. Manufacturing and production were the main drivers of the economy, oil was very important and the backbone of many industries. It was all about selling the most stuff as cheap as possible as fast as possible. Well, I don’t think this mindset is changing too much but the way stuff is sold is now completely different!

Due to the Internet, we could say that we are currently in a information age of industry. Thanks to the pandemic, this transition was even accelerated. While before the pandemic, many older people were not able to use a smartphone, many of them had to adapt, otherwise they now would have been in very big trouble. Honestly, I can see it with my grandparents. Before the pandemic, it was impossible to have a Video-Call with them. Right now, they seem like little children that discover new features all by themselves!

This pandemic was a catalysator for the information age and it looks like we finally managed to get this transition. While many companies such as Nike or Adidas were heavily dependent on retail sales in the past, they are now able to sell their products more easily online. This brings them two major advantages along the way. First, they do not need to pay retailers a margin for selling their products, hence they get to keep more of the profit. Secondly, they can keep the data that their can gather from their sales and use it to develop new and innovative products more efficiently to increase their sales and keep their costumers.

I think the major keyword here is data! Companies will see what kind of products their costumers loves to buy, where they are located and what kind of purchase they are making. This data can then be used in various ways in the future and the best thing about it, is that this data is completely theirs. They will not have to disclose it to competitors and they also do not need to buy it from other companies like google for example. This means that data will be the single most important resource in order to generate sales and could even be considered the oil of the new Information Era!

Storage Of Data?

With this comes a big question: Where do we store this data? There are a few things to consider before going on with this question. Firstly, data storage costs energy and secondly the place you store this valuable data is important as well. For instance, nobody wants to store their data in China where the government probably wants to have power over all of this information and make a social score out of it. You want to have it somewhere where the rules are clear and safe for customer protection.

Now with the second question out of the way, let’s quickly return to the first question again. What about the costs of storing data? The most common way is to store it in a datacenter which needs energy to operate it. This means that smart companies will look into a way to run their data centers on very cheap energy. So better use something that is free right? This can be most easily done with renewable energies! Wind, Solar and Water should be almost free all around the world, you just need the right technology to transform it correctly.

Major Shift Will Come!

Because of this demand for Clean and Cheap Energy, paired with the ESG concerns that are being spread all over the corporate industry, there is only one way going forward. Renewable Energies will take soon take over the energy sector completely. The global shift has already began. Governments are trying to get greener by the end over 2035, Black Rock is setting rules for companies that they are investing in and the climate change will not stop until carbon Emissions will get reduced severely. All of these changes paired with the increased need for energy will lead us into the next future.

This will also affect the crypto industry. Bitcoin miners that were “green” before, thanks to Carbon Emission Offset Certificates will no longer have this loophole. This means that they will be screwed. On the other hand, all of the miners that are already using green and clean energy will get reimbursed. I really think that, thanks to data we will see a major shift in the energy sector. And isn’t this ironic that the “new oil” is basically replacing the “old oil”. It will not create energy but is certainly one of the major drivers why we will be forced to use the renewable way of producing energy.

The Future has begun, and it is most certainly very bright and green!

Published by ga38jem on LeoFinance On 2nd July 2022