The $IOEN AMA Growing Article
In the lead-up to our IDO campaign, you may have caught one of our many Ask Me Anything (AMA) sessions. We’ve loved the opportunity to connect with the community and share the IOEN story. Below we’ve compiled a few of the highlight questions that were frequently asked.
This article will be a living document, so if you have any questions please leave them as a comment so that we can answer them and continue to share more about IOEN with all of you.
Questions
What is IOEN?
IOEN is the underlying fabric that unlocks virtual microgrid capabilities.
Using blockchain and Holochain technology, IOEN enables homes anywhere to function together as an intelligent, cooperative electricity system. By connecting homes in this way, they become a local, virtual energy microgrid.
Any energy device, whether generation devices like solar panel systems, storage devices like batteries, or consumption devices like household appliances can be connected within the microgrid network. Together, they coordinate energy effectively, creating a secure, reliable, and scalable microgrid that unlocks the opportunity for more renewable energy within the local network.
Clean energy microgrids are the future of energy everywhere. IOEN’s mission is to create and deliver digital infrastructure through blockchain and Holochain technologies that accelerate this transition for everyone.
What is your team’s mission and vision?
Our vision is to see a world where everyone has access to clean energy, and that our electricity grids never fail because every house is an active participant in supporting that grid and everybody is rewarded for doing this.
Our mission is to deliver this through open-source technology that anyone can build on. This is following the model of many similar organisations in the industry. IOEN will have its own foundation that acts as the support organisation for the currency. It will promote its use globally, and work with leading organisations to support its adoption, user growth and market education.
How will you generate income and sustain your project? What is the revenue model?
IOEN is an open-source organisation, and is following the model of many similar organisations in the industry. IOEN will have its own foundation that acts as the support organisation for the currency. It will promote its use globally, and work with leading organisations to support its adoption, user growth and market education.
This open-source approach will be supported by the implementation of the technology by ‘for-profit’ organisations around the world, such as RedGrid. RedGrid for example has already begun implementing IOEN technology in its applications, supporting the adoption of the currency within existing technologies and energy ecosystems.
Ultimately we aim IOEN to become autonomous as the IOEN token is used to stake, govern, vote, and deliver local mutual credit that forms the digital fuel to manage clean energy integration.
IOEN is said to be an IoT ecosystem that uses appliances running from multiple small smart distributed devices in every home. So why is it important to create a microgrid?
OK so it’s not just user appliances. Our first test cases were in the home, but also with Australia’s largest university whose campuses are large and diverse enough to represent a smart city.
The Holochain technology, like a fern in Nature, is fractal, which means the same design pattern can be reused at different levels. In energy, this means a home can become more intelligent and efficient; this can be combined into a neighbourhood, suburb, city, and beyond. Potential outages due to peak demand can be averted with all of these nodes working together.
Microgrids can be formed around key power sources, and one project in progress is a Neighbourhood Battery Initiative, where a Community can share and utilise the battery. We foresee whole new energy economies springing up, including software developers provide services to better optimise and visualise energy.
(Microgrids can work independently but also connect to the main grid, microgrids are not normally connected to the main grid — we can work with both 🙂)
The most important part here is that we enable virtual microgrids that, like bees in nature, can come together, or separate, and organically move through software to help solve grid problems in real-time.
So the IoT ecosystem becomes a living ecosystem — reacting and responding.
User friendly
So, our Powers App is running right now and is very user-friendly and beginner-friendly. In the back of this app we have our mutual credit system running, which gives people points for participating in the network and taking action that benefits grid stability.
We are in touch with partnerships in gaming and NFTs in the backend, but all will come through our human-centred design approach, so it all will be easy for people, anywhere in the world to interact with IOEN.
About IOEN
IOEN is the underlying fabric that unlocks virtual microgrid capabilities.
Using blockchain and Holochain technology, IOEN enables homes anywhere to function together as an intelligent, cooperative electricity system. By connecting homes in this way, they become a local, virtual energy microgrid.
Any energy device, whether generation devices like solar panel systems, storage devices like batteries, or consumption devices like household appliances can be connected within the microgrid network. Together, they coordinate energy effectively, creating a secure, reliable, and scalable microgrid that unlocks the opportunity for more renewable energy within the local network.
Clean energy microgrids are the future of energy everywhere. IOEN’s mission is to create and deliver digital infrastructure through blockchain and Holochain technologies that accelerate this transition for everyone.
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