Blockchain and the Utility Industry aka Beauty and The Beast.
Seyi Fabode

First, blockchain is the technology that should, in the mid to long term facilitate a peer to peer exchange of value and services in a new much more decentralized smart energy distribution system. My hunch is, that it is by definition anathema to a top down monopolistic utility business model currently (no pun intended) in vogue.

In any case there seems to be a perfect storm of disruptive technologies converging which will threaten the business as usual model. Perhaps a few visionary utility CFOs might see the writing on the wall and actively attempt to work on changing the present paradigm. Lessons from history however, do not bode well for the chances of truly creative and innovative transformation coming out these rather top heavy organizations. So I’m not holding my breath and I suspect that there are more than a few furry little mammals scurrying about still unnoticed by the dinosaur behemoths that are going to blindside more than a few supporters of the status quo.

Second, It’s the OS, stupid! I strongly recommend Douglas Rushkof‘’s book: ‘Throwing Rocks at the Google Bus’ in which he argues quite eloquently that trying to run a 21st century digital economy doesn’t work so well on a 13th century medieval economic operating system specifically devised, by the powers that be of the time, to crush the nouveau bourgeoisie’s attempt at peer to peer exchanges and wealth creation by creating an independent class of small business owners, entrepreneurs and thereby making it glaringly obvious that they had no need for a parasitic and wealth sucking monopolistic nobility. Of course the nobility clamped down quite hard on those uppity whipper snappers and made it illegal not to work for Monarchy Inc. and gave everyone a paid hourly job, thereby making everyone indentured servants of the local city state monopolies.

Yet that is precisely the kind of economic operating system that every economy on the planet is still laboring under. Everyone still talks about economic growth and job creation. Hellooo!

If there is going to be any meaningful change it will have to happen from the bottom up. I mean, if you decided to install a Linux OS on your laptop would you expect to get help from Microsoft’s tech support and customer service?

Probably not!


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