Various Forms of Pollution
Pollution is the release of harmful substances into the natural environment and in its entity, one of the major challenges facing our modern day environment today; ranging from land, air to water pollution. Each of these various forms of pollution has its own distinct causes as well as effects on our environment. But amongst these manifold pollutants, the most detrimental of them all are those related to the atmosphere (air pollution) since it constitutes 21% of the oxygen we breathe in. Global warming and climate change also rise as a result of this and as technology improves it opens up a new stream of waste disposal frontiers at its wake such as the emission of fumes from automobiles, greenhouse gaseous emissions from buildings as well as industrial wastes among many others. In an advanced economy such as the United States and China, we could narrow down the numerous causes of greenhouse gas emissions into six primary factors; Transportation, Industry, Land Use, Forestry, Agriculture and Electricity.
Transportation and Industry
The transportation sector generates one of the most significant amounts of greenhouse gas emissions. Greenhouse gas emissions emanate from burning fossil fuels used to power our cars, trucks, ships, trains, and planes. Over 90 percent of the fuel used for transportation is petroleum based, which includes gasoline and diesel that tends to release such toxic substances as carbon monoxide, carbon dioxide, sulfur, nitrogen dioxide, nitric oxide, volatile organic substances, and hydrocarbons. Greenhouse gas emissions from the industrial sector are largely as a result of burning fossil fuels used for energy as well as emissions from certain chemical reactions necessary to produce goods from raw materials which subsequently results to gas flaring.
Land Use, Forestry, and Agriculture
Although land areas often serve as a preemptive measure towards greenhouse gas emissions as it absorbs CO2 from the atmosphere, it is also a source of greenhouse gas emissions in its own might. Such emissions that are being recorded in the agricultural sphere emanates from livestock such as cows, agricultural soils, and rice production as well as bush burning and deforestation of large hectares of land.
The electricity generated in Commercial and Residential Buildings stands to be the largest source of greenhouse gas emissions as it generates more than one-third of the entire world’s greenhouse gas emissions. Evidently, the two most common sources of energy for buildings nowadays are purchased electricity and direct consumption of natural gas and petroleum for heating and cooking. It is believed in countries like the United States and China that buildings account for over 39% of primary energy consumption and 72% of all electricity consumed domestically. Buildings accounted for more energy use than the entire U.S. transportation sector in 2006 and produced more greenhouse gases in the United States than any other country in the world after China. For example commercial real estate accounts for 67% of all CO2 emissions in New York City according to the New York Green Bank.
Why is Energy important to Building Valuation?
According to the 2016 Experience Exchange Report, a survey conducted on 5,200 commercial buildings in the United States and Canada by the Building Owners and Managers Association, Utility expenses account for an average of 26.7% of total operating expenses. By means of an income capitalization method, building managers who are able to reduce operating expenses associated with utility or energy expenses can also increase the value of the asset in whole.
Electric energy accounts for an estimated amount of 78% of total building energy consumption and largely contributes to greenhouse gas emissions. According to The United States Environmental Protection Agency, EPA, these greenhouse gas emissions from electricity have appreciated by about 18% since 1990 as the demand for electricity has grown and fossil fuel being the major source of its generation. The energy consumption rate has quadrupled since 1940, while the population roughly doubled. Whilst many believe that a rapid increase in housing units is the major initiator of this trend there are those of the thought that greenhouse gas emissions can never be stopped hence it can only be managed.
In this modern society where gas flaring and global warming is on a steady increase, the primary concern is to ensure a pollution-free environment as we constantly sought for better ways to recycle these greenhouse gas emissions or better still the most appropriate way to manage energy generation and disposal. However, as new sources of greenhouse energy emission rise each day as a result of diverse technological advancement, this feat becomes more and more of a challenge.
PROBLEMS ASSOCIATED WITH REAL-ESTATE ENERGY CONSERVATION
There exist a bulk of invaluable building database being buried deep within an individual building vendor’s cloud, which is inaccessible to the general public. Such data as a building’s energy, operations, and finances, if exists are often trapped in a menagerie of silos. With these limitations, even the most renowned real-estate intelligent platforms are only crippled to their own models, proprietary datasets and mere assumptions.
Since the recent Facebook/Cambridge analytical scandals, corporations and organizations are becoming more and more wary of uploading sensitive data to a centralized vendor’s cloud service for fear of data theft and misappropriation. There exist no trustworthy verification efficiency that could stimulate new transactions, one that is capable of exposing an all-new market for the electric grid such as new demand response, peak reduction or grid balancing markets. And as a result of this database owners are more concerned about exposing confidential data.
Governments or utilities that invest in emission reduction initiatives do not wield the decision-making tools they need to establish such regulatory laws. These regulatory bodies cannot establish a channel through which the general public can see, track, and analyze for themselves the efficacy of different civic strategies. On the other hand building operators who require certain analytics to aid them to ascertain the most optimal building strategies do not have those data readily available to them and as such makes decisions concerning building plans based on their own perception rather than on tested and trusted standard.
The Energy Servicing Industry has conditioned building developers to adopt proprietary analytics hardware and software, often than not placing the software benefits as an auxiliary service to sell off excess hardware to a building limiting their customers to their own data. As a result of this siloed approach, even the “smartest” buildings today are limited to a pool of data of which their vendor offers and as such can’t compare and contrast energy savings investments procedures because they can’t track the performance of similar efforts in similar buildings. Not having the time or skills to conduct advanced modeling on their own, more often than not they become stuck at the mercy of their vendor, a relationship that has become fraught with distrust in recent times. To say the least, buildings cannot track the financial benefits of their improvement simply because they can’t track their performance in real-time.
Lack of financial incentive:
The real-estate world is driven by traditional financial models that may or may not be the best practice when it comes to energy conservation and asset performance on a long term basis. Building operational data such as static, historical, or real-time data are not rewarded for the value they provide.
What is Bluenote Smart Protocol?
Bluenote is a Fintech startup actively involved in energy conservation in modern-day real-estate with the help of IoT technology and an underlying blockchain technology, a team of real-estate administrators along with a band of I.T proponents decides to launch the world’s first blockchain-based energy efficiency protocol. Bluenote focuses on developing a decentralized ecosystem that allows building operators around the world to learn from one another on the most optimal way to manage their energy consumption and increase the value of their asset on overtime through distributed data intelligence. The Platform provides transparency, trusted data and data analysis features that support investment decisions in energy efficiency measures. Bluenote aims to accelerate the adoption of building energy technology upgrades
Advantages of The Bluenote Smart Protocol
As a unique, distributed data intelligence technology having a real-world use-case, the Bluenote Energy efficient protocol is specifically designed implicitly to suit the world of energy conservation & recycling as well as the real-estate economy. Below are a few benefits associated with the Bluenote Smart Protocol.
– Decentralized Nodes.
Building data that are trapped in a single vendor’s own database are instead extracted and shipped to a data stream connected to the network via nodes as part of inter-network nodes on the Bluenote Platform. This decentralized feature allows for a building to handily select from a pool of building schematics and choose whatever data that meets it’s fancy as well as enlisting its own data to the pool for other subscribers to pick from. Even upon permitting such unlimited access to its building data or upon purchase of analytics based on any data, the building can thus keep this data on their own node. For instance, if Building “A” employs the analytics service of a third party module provider (Building “B”), it simply shares its data stream reference ID with the service provider. The data to be traded stays on the node of Building “B” who afterward authorizes access to its data streams to the module provider. The service provider would then initiate a smart contract consensus agreement that must be met by both parties. In the same light if a building opts to utilize a module to calculate a particular attribute such as verified energy savings, in order to participate in a utility energy efficiency program or a certificate trading program, on the Bluenote protocol such verification from the attribute module provider are easily handled while maintaining its data on its own node.
– Secure Access.
Bluenote platform guarantees that buildings owners do no too have to worry about exposing their sensitive data. By use of an anonymous protocol, the platform can allow for secure access to data analytics without exposing the raw data. There exist four streams of data that can be extracted from a buildings’ database schematics includes static data, electric meter data, automation system data as well as sensor data. Each of these data streams are extricated separately and mapped with a unique identifier. The complete information about a building can only be derived upon combining the various data streams that emanate from a single building. Hence the decision on whether or not to further expose such personally identifiable information and grant third-party agents unrestricted access can only be possible when the building administrators lease s out the unique keys to each data stream and further establishing the connection that exists between them. On the platform, buildings are given the opportunity to choose, on its own or in coordination with an energy services company, what data is uploaded, what quality of data is shared, and how to map the data streams to its three-dimensional structure.
– Global Market for Analytics.
The Bluenote ecosystem introduces a community with the potential for a market hub of data analytics and software services that can easily connect to existing and nascent data nodes. As building operators strife to protect certain confidential data, the Bluenote Protocol will in-turn struggles to initiate herd effect. By incentivizing buildings to share their data streams with the community. To further buttress the incentivizing scheme, the building would be rewarded with Bluenote BNOW Tokens as they seed a market segment. These rewards are determined basically by the amount of value they bring to the table in terms of data quality, frequency, rarity, and demand. With the creation of a global market, Bluenote aims to provide its community with an extensive database, opening a stream of voluminous dataset for recommendations module providers on the platform to utilize.
– Verified Performance.
In today’s real-estate market, there exists a high demand for energy conservation measures as it is believed to be relative to the performance of the asset in question. For instance, a commercial building with a heightened energy consumption rate is sure to have detrimentally after effects which tends to reduce the performances of that asset over time. Bluenote platform Takes note of this relationship between carbon reductions and financial performance of assets as unimportant as this might seem to a layman, it is an important factor to institutional investors that provide the funding for such projects as well as building developers and administrators since it sheds more light on potentially underlying investments risks.
Although the success of the self-sustaining Bluenote Energy Conservation Protocol is dependent on the quantity and quality of data it can extract from buildings into streams of distributed nodes to be part of the network. A few opportunities exist to get data out of vendor silos today and into a distributed platform, and new opportunities are beginning to emerge with the growth of IoT technology in buildings. The number of buildings and the volume of data that is connected to the Protocol will depend on the ease through which the everyday building operator, or their designee, can connect.
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Bluenote: The Blockchain Energy Efficiency And Pollution Eradication Platform. was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.