The Pain Points IOEN is Addressing

Published in

Internet of Energy Network

2 min readOct 27, 2021

Why IOEN?

Just as Bitcoin lifted the lid on the financial industry and made us consider the true meaning behind money, IOEN brings an understanding of energy home.. Literally. And there are other aspects about IOEN that remove obstacles to a cleaner future:

Pain Point 1: Central Control, Central Coordination

The flow of energy is very top down. There are currently 2.2 million households with power plants sitting on their rooftops in Australia, and now these are being switched off because the grid lacks a transactive energy system through which they can coordinate and integrate safely. To solve the grid problem will cost $14tr over the next 10 years if a digital integration solution isn’t implemented. The problem is not a lack of technology or ability for devices to transact. The problem is that there is no common service for their coordination.

Pain Point 2: Energy is Out of Our Hands

Energy, currently, is hard. It is in the hands of a large entrenched infrastructure at the national level, with a heavy investment to maintain. Microgrids democratise energy, and give energy to the local level. We see IOEN as a marketplace, the Grand Central Station clearing house. We are changing the game similar to how bitcoin gave control of finance to individuals.

Pain Point 3: The Speed of Funding Microgrids

The world needs to pivot, quickly, to renewable energy and requires a frictionless path to capital to raise projects. IOEN is targeting microgrids; geographically proximate sets of energy producers, storage, and consumers. IOEN will also support “virtual microgrids”, where disparate participants can trade services to support this new economy worldwide. We uniquely connect DeFi blockchain to small, fast mutual credit economies in microgrids.

Pain Point 4: Not Finding Innovation From Everywhere

This emerging new view of energy needs to be turbocharged for connecting new solutions and to grow these organically and empirically. IOEN is a marketplace and Grand Central Station of ideas from an open source, *grass roots* perspective. We encourage developers everywhere to contribute.

Think Global, Act Local

We hope this article gave you an insight to the new world energy economy that’s coming, where you and I have the power in our hands. Come join us! Please subscribe to our accounts on social media, and visit our website often at https://ioen.tech.

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