TechNews digests: Jan - Mar 2010

TechNews is a technology, news and analysis service aimed at anyone in the education sector keen to stay informed about technology developments, trends and issues. TechNews focuses on emerging technologies and other technology news. TechNews service : digests september 2004 till May 2010 Analysis pieces and News combined publish every 2 to 3 month

Financial Accounting Classification of Cryptocurrency

Currently, a large range of opinions exists regarding the appropriate classification and regulation of cryptocurrency. From the legal perspective, some suggest that cryptocurrency investments are too speculative. As a result of this, it is suggested that cryptocurrency should be more heavily regulated. This would be done to prevent speculators from losing vast wealth. Other legal analysts suggest that an increasing cryptocurrency regulation would have a detrimental effect on the state of cryptocurrency, and its use would cause long-term problems. From the accounting perspective, opinions vary. Some suggest an accounting classification that would make cryptocurrency cash equivalents; others suggest an accounting classification that would render cryptocurrency an intangible asset with an indefinite useful life. The “big 4” accounting firms that include Deloitte, PricewaterhouseCoopers, Ernst and Young, and KPMG recommend that cryptocurrency should be classified as an intangible asset with an indefinite useful life. However, other companies currently using cryptocurrency through the general operations of the business have decided to classify it differently. The legal perspectives and the accounting perspectives will be analyzed to determine appropriate regulations for cryptocurrency and an appropriate classification for cryptocurrency. The results will show that cryptocurrency should be classified as an intangible asset with an indefinite useful life for accounting purposes and as property for tax purposes

An Innovative Take on Filtering Carbon Dioxide Through CryoCapture

Overview (Air Mover): Carbon dioxide plays an important role in the earth's ecosystem; the lives of many organisms are based on the balancing of this gas. Plants and animals need it for survival however, an excess of carbon dioxide can also end the organism’s life. The production of the gas mostly comes from the combustion of fossil fuel, power plants, big industries, vehicles, and processes involving natural gasses. One of the most known issues of carbon dioxide pollution is global warming. The greenhouse gas essentially traps heat in the atmosphere, increasing the global temperature. The methodology provided is an innovative solution towards the creation of an environmentally friendly carbon dioxide filter. Current air filtration systems are restricted to industrial environments limiting the ability to filter the air. Due to the large noise and low range of operation of axial fans the filtration systems need controlled environments for longevity. The paper presents a versatile air mover that can be mounted onto multiple surfaces due to its low profile and bracket mounts. Furthermore, the usage of a diagonal fan inside of a PVC pipe allows for a durable system that can operate at high efficiency and low noise. The main challenge in designing the air mover was figuring out how to quantify the scalability of the device and what parameters could be changed in order to make the device more viable. The designs most prominent feature are the inclusion of a modular enclosure that can be adapted to multiple areas and environments while withstanding harsh conditions due to the PVC piping that can be coated with a diagonal fan for high volumetric flow rates and pressure differential for versatility in environments the device is placed in as well as efficiency. Overview (Carbon Storer): The Civil and Environmental Engineering team is responsible for finding a cost effective and sustainable way to transport, store and recycle the carbon caught in the air from the Carbon Catcher designed by the other engineering teams. In the team’s design, the Carbon Catcher will reduce the harmful emissions in the air by capturing CO2, store it and then utilize it in another industry which will reduce the need to mine for more raw materials which would thus further reduce the pollution emitted into the environment. Our plan is to recycle the carbon emitted from a factory and utilize it in CO2 dry ice. It's the Civil and Environmental Engineers’ job to find a way to connect a sustainable solution with a solution that improves the public’s quality of life. There are many industries that pollute immense amounts from the mining of raw material or the emission of pollutants. The team wants to show industries that the economic solution can also be the sustainable solution. Overview (Membrane) The team’s solution focuses on the use of cryogenic carbon capture, a method in which the selective freezing points of the gaseous components of air are used to separate out carbon dioxide. For this process, the team will be utilizing a 4 step filtration process. First, the flue gas will be run through a particulate filter to catch all macroscopic particles that may be present within the air. Afterwards, the gas is then passed through a dehumidifier where a majority of water content will be extracted. Following this, The gas was then run through a long pipe and progressively cool it down to the freezing point of carbon dioxide. Finally, the filtered gas is extracted, and a bubbler is used to separate the solid carbon dioxide. The carbon dioxide is then compressed and recycled around the feed pipe to help in the cooling process. Along the process of this design, the team encountered problems finding the optimum materials for temperatures this low. As well, coming up with a way to eliminate heat transfer from the outside posed a huge problem. Through the experience, the team was able to gain a greater view of what benefits and drawbacks must be balanced, along with the economic interest that comes with designing an efficient process. Unlike how most designs are focused, It was understood that using a membrane only provided so much creativity when it came to filtration. As a result, the team researched other successful methods and arrived at utilizing cryogenics to filter. Goal Research to provide a single solution to remove levels of carbon dioxide in the immediate atmosphere, transport it to a storage mechanism, and find a way to recycle it. Powerful research is required to ensure effective methodologies, material usage, and flexible scalability of the overall device. This particular team seeks to find an alternative separation process to membrane filtration, the efficacy of which has not been demonstrated beyond the scale of a laboratory