Gathering of Innovators
A motley crew of companies, nonprofits, and tech enthusiasts descended upon London for the ‘Chain-of-things IoT, Blockchain and Security Conference’ on June 1st. Their mission? To discuss a novel way to harness blockchain technology for tracking solar energy production worldwide, leveraging Ethereum’s smart contracts in the process.
The Data-Logger Revolution
At the heart of the conference was a presentation on a groundbreaking full stack data-logger. This clever gadget connects multiple blockchains to the digital output from solar energy plants, effectively turning solar energy into something that can be easily tracked and traded.
“We think we are onto something here; by connecting a data-logger that grabs solar energy output in near-real time and then pushing that securely to multiple blockchains for different purposes we can help democratise energy wherever it is generated.” – Luke Johnson, Co-founder of ElectriCChain
Sparking Discussion and Innovation
The conference wasn’t just about talks, but also included a hands-on two-hour hackathon where the attendees brainstormed innovative ideas. The cherry on top was a $100 prize awarded by the Intel Software – Code for Good initiative, igniting some competitive spirit and creativity.
What’s in the Works?
Representatives from Solcrypto, Bitseed, and the SolarCoin Foundation shared insights on their solar power initiatives. They emphasized how SolarCoin acts as an incentive for solar energy producers, creating a win-win scenario for the environment and users alike.
Understanding Blockchain 3.0
Among the attendees were the pioneers of IOTA, a new breed of blockchain tagged as ‘3.0’. It enables machine-to-machine token interactions over a shared ledger, which translates to zero-fee microtransactions and enhanced security. It’s like giving your devices a secret handshake!
Securing the IoT Landscape
Discussions pivoted to the security—or the often, lack thereof—in the Internet of Things (IoT) sector. Several speakers proposed solutions that blockchains could provide to mitigate various attack vectors that have historically plagued IoT advancements.
The Path Ahead for ElectriCChain
ElectriCChain appears as a beacon of hope in this vibrant landscape, promising a network of over 7 million solar power-data-logger installations globally. Their goal? To eventually exceed 200 million installations in the next 15-25 years, according to International Energy Agency (IEA) projections.
With ambitious aims, they recognize that a cooperative effort is essential as they build out their minimum viable product. The future promises a plethora of blockchains knitted together within these devices, each serving various purposes, from app interfaces to Ethereum smart contracts.
“With Solar Energy, IoT, and blockchains all on their own growth paths, we believe that this is a significant beginning to a new industry that could be phrased as ‘Blockchain-Energy.’” – Francois Sonnet, Co-founder of ElectriCChain
