So Why “Blockchained” Energy ?
In this article I’m going to talk about why we, Electrify Network are implementing the blockchain technology in the energy sector.
ENERGY; that magical intangible element, whose access is fundamental to fulfilling basic social needs, driving economic growth and fueling human development, should primarily be considered as a human right: Every living person on EARTH is a “stockholder” of its natural fortunes, air, water and most definitely, energy!
However, what we refer to now as “modern energy”; electricity, natural gas, modern cooking fuel and mechanical power, is being industrialized, then merchandised in forms of services adhered to a standardized and centralized model of distribution.
Under the current centralized model, electricity is mainly produced at a large-scale through centralized generation facilities, These facilities are usually located away from end-users and connected to a network of high-voltage transmission lines. The electricity generated by centralized generation facilities is distributed through the electric power grid to multiple end-users.
In other words, this model of energy simply depicts vertically-integrated utilities sat in the middle of the system run by energy providers, or rather say “centralizers”: they decide where and when to build generating capacity; they decide how to bridge the distance between generators and loads; they kept the system in balance through the deft application of the levers available to a centralized controlling entity: like we said, “energy centralizers”.
While other “progressive utilities” and regulators try to position themselves as “consumer-focused”or “consumer-centric”, but the truth is, even the most consumer-friendly ones are only reformulating the same narrative, aligned with their objectives: amass as much refined databases of “loyal customers”.
Meanwhile, consumers are fed a steady diet of price and product/service, plus the cost of energy security that can be counted in terms of control, certainty and economic independence.
And yet, as vital as these services are, over 1 billion people do not have access to reliable, affordable electricity; they are often forced to turn to polluting, hazardous, and expensive solutions like kerosene, charcoal and diesel in order to fuel their lives.
Nevertheless, even for those who can access it via grid extension, it’s really slow: studies have shown that energy access via traditional power plants alone is too time-intensive: the average time it takes for a World Bank power plant project is 9 years,and even when the centralized grid is available, many families cannot afford to connect.
For that we believe in the potency of blockchain technology in moving the power balance from centralized power authorities and suppliers to consumers.
How? by simply appending the blockchain technology into the magical recipe; The Distributed Energy Resources (DER), a promising market that operates in solar photovoltaic systems (PV),batteries, microgrids and embedded networks. By combining these two potentials, we get our SUPER NOVA: “blockchained energy” for everyone!
And it is not only about controlling the cost of energy consumption, it’s the divine incarnation of a great social impact: people having access to energy supplies that are more sustainable, more socially-responsible, more local, more resilient and more democratic.
The time has now come for a basic industry like the energy to get revolutionized, or more properly “blockchained”, we hope for a new model of energy trading that strips control from the hands of central players and puts it in the hands of everyday consumers, for a co-created energy future.
