Holochain Forum

Energy coin

I have read about the RedGrid project and some of the literature on “currentsees” and have been thinking for some time independently about the idea of an asset backed energy coin.

I think what is needed is a token that is generated by electric utilities when electricity is generated in an amount equal to the power generated per unit of time (eg KWh coin). Such coins could be distributed to the general economy by the utilities who could use the tokens to pay for employees, investments, infrastructure upgrades, and efficiency improvements. The utilities would then accept the tokens as payment for electricity use from customers. Upon receipt of payment by the power producers, the token would be destroyed - closing the loop and preventing inflation. Much like Holofuel, the currency would be asset-backed and value stable, and customers would be protected from inflationary fiat currency dynamics. Any differences between power generation and consumption would accumulate as excess coins, but the excess coins could be used for additional investments to make use of the excess generating capacity.

Linking a currency (such as HoloFuel) directly to a unit of power usage would also help users to focus more on the quantity of power consumed rather than the bill itself.

Tell me I’m wrong, or (better yet) tell me someone in the Holo community is working on creating this and pitching the idea to utilities! It seems simple and measurable and could even be piloted in small communities that manage their own electric utilities.

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You’ll want to check out the Internet of Energy Network www.ioen.tech . Amazing Project by the same folks who created RedGrid. They will have an energy token. Check out their white paper and ambassador program. I’m SO impressed!