GEO Protocol team won two 1st prizes during BlockchainUA events
Last week the GEO Protocol team took part in a series of events organized by BlockchainUA in Kyiv, Ukraine.
On March 22d, we were a part of BlockchainUA Conference — the sixth annual international conference that brought together the strongest Blockchain community in Eastern Europe. It attracted the most experienced tech experts, IT entrepreneurs, investors, blockchain community members, and opinion leaders.
GEO Protocol presented its technology at the conference, including GEO network visualization on a big screen that spawned great interest among the conference visitors and participants. By the way, recently we launched a dedicated website for that: http://geoexplorer.io
This year the conference was attended by more than 500 visitors. Over 50 speakers from more than 20 countries held their talks and presentations. Max Demyan, CEO of GEO Protocol was one of the conference speakers. His speech about the role of Layer 3 on the Internet of Value created a big discussion at the lobby, that Max had to spend almost an hour answering the questions, and so he did that with enthusiasm and pleasure.
Another event was BlockchainUA-Hackathon that was held on March 23–24th. Almost 20 different teams were competing in the hackathon. It was dedicated to prototyping products using blockchain technology, financial API, etc.
GEO Protocol team took part as well, and we are proud to announce, that we won two 1st places out of six granted by the sponsors of the event! Kuna Exchange and 482.solutions company were impressed by the GEO Protocol team’s solution that guys have developed.
The topic of our winning work was “Free energy market or how to arbitrate electricity for any purpose”. We used the GEO Protocol technology to connect a “power station” with two electricity consumers — a lamp and a mining hardware. All three had their own GEO nodes connected into a local GEO network. The “power station” was sending the price for electricity that changed every second to the consumers, and each consumer was deciding (based on its own settings) if the current price was acceptable for it. If it was, a consumer paid for the electricity using the GEO node and received the power. If the price was higher than a consumer was willing to pay, it didn’t pay and the power was cut off by the “power station” automatically until the price was okay again, and the consumer resumed its payments.
This was a demonstration of the GEO Protocol’s technology capabilities to enable future IoT solutions for fast and secure payments processing, accounting, and price transfer in the distributed energy market. Such solutions will allow to optimize the use of electricity and to implement automatic mutual settlements between different energy producers and consumers.
Overall, it was a great and inspiring event as always. Brilliantly organized, a lot of great speakers and projects. The community expressed great interest in the GEO technology, and so we were happy to make a couple of useful new contacts.
The GEO Protocol team is looking forward for the next BlockchainUA events and will be glad to be a part of them!
