SolarCoin isn't intended for energy trading, it's a pure incentive. This is quite smart as it skirts all the different regulation heavy national energy policies, and allows it to expand unimpeded. The use case for SolarCoin is a global currency that is 10 times faster than Bitcoin, uses hardly any energy to operate and is initially distributed to producers of solar energy (itself a highly distributed energy source).
A real problem for energy trading coins is a lack of block-chain compatible and secure metering equipment, manually loading meter readings is not scalable and the potential for fraud is huge. This issue will need to be solved for every energy supplier in each nation before those projects can gain traction, effectively needing a second or third global smart meter rollout.
My view is that the SolarCoin model is far more realistic in the short/medium term as it's barriers to entry are far lower.
Fair enough. But a currency is only valuable if it has supply (i.e. the incentive) AND demand. OK, it's faster than BTC but so is Bitcoin Cash. Agree that the initial distribution is an advantage (i.e. lots of people have it).
And true about meters - we have a hell of a job just tying readings from the the 50 inverters/ 20 arrays/ 8000 odd panels that we own. It's bloody stone age!
Yeah I see your point. My hope is because SLR can make a footprint in a specific community first, that the economy will come into being. We dont worry about who wants to buy Pounds, Euros, Dollars, becasue inside our bubble we all transact value with the same tokens. If we can create that similar industry bubble for Solarcoin, it might just work.
P.S. Its also important to note Bitcoin and therefore by extension SolarCoin, is cheaper, faster and more secure to use as a currency than Pounds, Euro, Dollars etc., this is why if a solar economy begins to emerge, participants would rather use SLR than their native fiat; SLR grants alone would not be enough to feed all participants in such an economy (unless users install more solar capacity) and will probably lead to currency demand.
Agree. Some serious weight lifting is required to develop a solution for this. Any leads @scalextrix? e.g. people making good progress on this front
I think PowerLedger listed Landis+Gyr as a partner so perhaps they have a concept (please confirm DYOR).
In the ElectriCChain community we have some people with ideas about how secure block-chain compatible metering can be achieved. I think its not so much that part thats the issue, its about how you get meter manufacturers to understand block-chain, and how you get utility companies to retrofit meter devices, when in many developed nations they are still rolling out phase 1 smart meters.
Thanks @scalextrix. I have had an 8-year career in renewable energy here in Malaysia; and would love to be part of this conversation. Is it an open community? Can u introduce me in please?
Yes its all open, if you look on https://solarcoin.org/en/solarcoin-forum to join the SolarCoin slack, TBH most liveley conversation happens there. You can also find the link to join the ElectriCChain specific slack http://www.electricchain.org/electricchain/community/