Blockchain can underpin a transition to decentralized utility systems at scale. Platforms could collate distributed data on resources (e.g. household-level water and energy data from smart sensors) to end the current asymmetry of information that exists between stakeholders, enabling more informed — and even decentralized — decision-making regarding system design and management of resources. This could include peer-to-peer transactions, dynamic pricing and optimal demand- supply balancing.
The electricity sector, for example, is for the most part still based on huge, centralized power plants that generate electricity to be sent through long distances over distribution lines. In recent years, though, an increasing number of smaller “distributed” power generators and storage systems, such as rooftop solar panels and electric-vehicle batteries, have been getting in to the grid.
This trend pose huge challenges on how the energy is transacted among peers and how it is tracked on the network. Blockchain comes at hand to help manage all the processes and make them fast, safe and trustworthy, and it could even support the radical adoption of personal renewable energy devices.
Utilizing blockchain technology for tracking renewables has indeed already begun to be implemented on a very small scale: a project is allowing New York City residents with their own solar panels to participate in a peer-to-peer energy exchange built on the blockchain, thus bypassing electric companies. As blockchain grows in popularity, it is likely to spread into many areas of society, including the energy sector. Utilizing proof-of-stakes systems to avoid the excessive energy consumption, the blockchain could provide a powerful tool for tracking renewables and thus enable more effective energy markets across the globe.
Industries such as healthcare and insurance can greatly capitalize on blockchain and evolve thanks to it, radically changing the way we relate with them in the next fifteen, twenty years.
Furthermore, it can enable a cost reduction for millions of households that give away a large swath of their annual income to pay fees often undue, only because of a very inefficient tracking system that leaves too much to guess and is highly vulnerable to mistakes and errors.
A more precise, data oriented market enhanced by blockchain technology may create new offers, products and pricing methods that would be appreciated bilaterally, both from a supplier and consumer perspective.
By promoting the easy exchange of data and developing a sophisticated and efficient blockchain infrastructure, Bottos will provide all its expertise to support any initiative that would benefit the households around the world, helping them to push down the living costs and live a better, healthy life.
To the equation, Bottos also adds Artificial Intelligence, intelligent distributed storage and, ultimately, decentralized computing, in order to create one of the most efficient AI Ecosystems existing.
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