The Exponential Effect of Blockchain and AI in Energy Markets
The 21st century is marked by exponential technologies transforming society. Blockchain, Uber, and big data are examples of how some ideas arrive to disrupt the market completely. They do so because they fill a gap and understand how to act within an ecosystem.
The price of solar cells was 100 lower in 2013 than in 1977, from $76.67/watt in 1977 to just $0.74/watt in 2013, and the total market cap of cryptocurrencies has gone from 1.5 billion in April of 2013 to 170 billion in August of 2017. Some trends are just so timely that the world has to adapt to them.
In the world of energy, Greeneum is one of the few companies combining blockchain and AI to disrupt energy markets. Co-founded by the creators of SolarCoin and SolarChange, a team of 30+ people has been researching and working in this field since 2014. Three years of connecting with energy producers and consumers worldwide, partnering with groups like IBM and Wings, recruiting AI and Blockchain developers, data scientists, and engineers to finally arrive to a token presale in October of 2017.
And how will Greeneum actually disrupt the market? By deploying the GREEN token, Greeneum seeks to monetize energy transactions and reward different stakeholders, producers, consumers, utilities, for contributing to the network. By placing the right incentives in the right places Greeneum doesn’t just enhance trust between stakeholders but creates a more efficient management of energy.
By enabling the stakeholders of a network to share energy, energy data, green certificates, and other assets, the network can act as one and new opportunities and dynamics arise. Data is shared, resources are shared, new patterns emerge, and AI can analyse all these data to optimize processes (supply and demand in the grid, industrial efficiency, solar panels performance, closing gaps in the energy supply chain). By registering data on a distributed ledger, transparency and accountability between actors in the network increases and more transactions ensue. All this facilitated by a GREEN token which facilitates interoperability with ease.
Neither blockchain nor AI will be the solution in themselves, but a good combination of technologies and a sustainable business model seems to be the path of exponential companies and organizations. One needs to find the intersection and then work hard towards that goal, readapting our technology with the appropriate user experience research and always working towards the clean energy transition.
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