Grid+ overview using the Feynman Technique
This post is one of a series of posts I am writing where I try to apply the Feynman Technique to a number of different crypto token projects. You can find the rest here. None of this should be taken as investment advice. They are just meant to be simple introductions to the projects.
Grid+ is creating a new kind of utility company by using a combination of new renewable energy sources, a smart device, and software.
The core part of the system is the smart device. This device is connected to the internet and handles both buying and selling energy for the customer. If a customer has solar panels and/or a battery system, the device can automatically sell any excess energy the customer doesn’t use to any other Grid+ customer. Any Grid+ customer will be able to buy energy when they need it automatically through the smart device.
All users of Grid+ will have to do is buy credits to use on the system. The smart device will take care of the rest. What the smart device does once a customer loads credits onto it is figures out the best way to buy and sell energy for that particular customer. This means buying energy at lower prices and selling energy at higher prices depending on how much and when a customer needs energy.
By working with other smart home devices like thermostats, the Grid+ smart device can best figure out when the best time to buy energy is and when is best to conserve and buy less energy. For example, if a customer has a preferred temperature range, the smart device might communicate with the customer’s thermostat to reduce the temperature to the lowest in the preferred range while energy costs are high and turn it to the highest in the range when costs are low.
In order to get the smart device to do this work behind the scenes, it uses two different tokens. The first token, called a BOLT, is required to use the Grid+ platform. This token always equals $1 and is just used for purchasing energy from Grid+. The other token is called a GRID and this token is used to purchase energy at cheap, wholesale prices. One GRID token allows a customer the right to purchase 500 kWh worth of energy at the cheapest price available. Once each type of token is used on the Grid+ platform, they are discarded and can never be used again.