Norway sees a future in giant subterranean data centers

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This marketplace podcast is brought to you by pinata for businesses. And universities Panatta was everything YouTube isn't with enterprise grade security Bilton recording and live streaming and a unique search engine that finds any words spoken in any video Panatta was how professionals share knowledge and by WordPress. Build the website that can turn your dreams into reality with WordPress dot com with powerful say building tools, thousands of themes and twenty four seven support from real experts. wordpresScom lets you launch site that's free to start and is built to grow. With you. Go to WordPress dot com slash APM. For fifteen percent off any new plan purchase. That's WordPress dot com slash APM. We come from the land of the ice and snow and giant subterranean data centers from American public media. This is marketplace tech demystifying the digital economy. I'm jed Kim in for. Molly would. As more and more devices, get connected to the internet's and as more people get devices the need for data storage is growing exponentially. Because the cloud doesn't actually exist in the air it lives on massive fleets of hard drives and servers where to situate. This hardware is a strategic question. You wanna place that secure has political stability? And if you're a tech company that wants to look good has lots of cheap renewable energy. That's why Norway is making a big push to get companies to build data centers. They're Microsoft announced plans for two Norwegian data centers last year. Katie Prescott is a BBC journalist who reported on this from Norway. She traveled far north to visit a data center in a former mine, I can describe it as I could Norwegian fairytale. It was like the entrance to a trolls cave inside a snowy mountain and we had to drive down into the data center a mile under the mountain into. This old mine, which they put serves in. It was totally bizarre to be in this tunnel of caves, and they described it as an underground town. So it had this enormous beautiful down the middle and then to left and right with the service, and because it was next to this fueled and under the ground, it meant that just kept very cool and very safe. I mean, you unlikely to get many spies creeping around the fault of Norway. And if you did you'd probably notice them, so the Norwegian government is incentivizing the construction of data centers with tax breaks. Why do they want these data centers so badly? Well, they come with a lot of money and the other very exciting thing about data centers. And I promise you can't get excited about sending we need them so much. I mean ninety percent of all the data in the woes created in the lost two years. So suddenly, we need a space to put all these things. And the Norwegian government is looking beyond the oil and gas that is currently the big driver of the economy that and. Thinking, right. What's going to be the next industry, and then looking at data, which is often cooled the new oil thinking, actually, you know, perhaps that is the feature does Norway's kind of out of the way location hinder pudding in the data centers there in many ways. No. But it depends what sort of data storing if you putting Facebook photos, it's if you're talking about data that we need to trade, for example in financial services. It's too far away. What's called the latency the distance the data's to travel is to fall, why did think it was really interesting while I was there those I met someone who said our next challenge is to dig fiber optic cables under the North Pole from Norway to Asia and the west coast merica, if you think how data travels from Europe at the moment, it goes from side to side, they will say if we can go under the North Pole. We can go direct, and that's going to increase the number of people who want to come to Norway to put. Data center here. Katie Prescott is a journalist for the BBC that catchy idea that data is the new oil. It's controvercial. Sure. It may get mind traded stockpiled become on data is clearly not something wherever going to run out of. Now for some related links. What's making undersea fiber optic cables? More of a possibility in the Arctic, our friend climate change and melting Arctic ice if Norway does go ahead with plans to route Beiber optic lines through the North Pole. It will join just a couple of projects in the works. It can read about the current state of subsidy telecom in my favorite, the maritime executive the Arctic is attractive because it isn't already crowded with cables, and there's less risk of damage from say a fishing net or boat anchor our own Peter Balan and Rosen explained on this program Finland's plans to connect with Asia. If you want a visual of what such a fiber optic line? Looks like Peter you had a picture of one. He describes it like thick black liquorice the width of a tug of war rope, which as a non lover of liquorice. I gotta say you as Katie mentioned Norway's interest in new data centers comes as it tries to get away. From an oil based economy Norway's also moving away from oil in its trillion dollar sovereign wealth fund is looking to offload about seven and a half billion dollars in shares in energy companies fossil fuels may have made the nation rich. But now they're seen as a future financial risk or to invest it. I don't know how about tack jed Kim. And that's marketplace tech. This is a PM. This marketplace podcast is brought to you by evident, providing a simple insecure platform that lets businesses confidently know who they're dealing with without the risk and expense of handling sensitive personal data from identity verifications to background checks and everything in between. Businesses of all sizes can get the answers they need securely in easily with evident. 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