Smart Contract Managed Power Generation Projects @ TWIND Power, IOTA Style
Above is a picture of our TWIND Power 2X5511 100–120kW NP off-grid container battery charger, perfect for those hard to reach remote sites
Today in Cyberspace, March 21st 2019 Equinox, I will take a look at the practicality of using Smart Contracts as vehicles to manage Power Project investment and annuity payouts in the context of our efforts at TWIND Power on Discord (https://discord.gg/JbKYaSw)
But first, aside from low cost energy storage, what makes it viable to use wind and/or solar to supply electricity in remote off-grid locations?
Let me count the ways :
Clean Air (no diesel dust, or natural gas sulphur-dioxides up your nose)
Quiet Operation (no drum of diesel generators in your ears)
No Subsidy Required (rate payers or tax payers are not footing part of the bill)
Energy Sovereignty (No chance you become a victim of higher oil prices)
Ability for Anyone Anywhere to Invest ( Crypto-Currency Ready)
Receive your dividend with no transaction fees (Cryptocurrency Ready)
Have complete project visibility (Distributed Public Ledger- Transparency)
So there is a pent up demand we think, for our TWIND Power Energy Stations.
Plus, for all of the above reasons, we definitely think Power Generation projects, especially small ones, are the perfect vehicle for cryptocurrency investors looking to boost their returns coming out of the current crypto winter of 2018 and 2019.
Remote Off-Grid Power Wild Card:
Price of Energy Storage under $100/kwhr?
$100/Kilowatt hour price of energy storage is the golden mantra in the energy storage world. Thank you NANT Energy https://nantenergy.com/markets/ for getting there first with Zinc Air. Say what!? That’s right Zinc Air is already at the right price point enabling renewable generation and energy storage pairings of wind and solar together with ZincAir from Nant Energy to be competitive with fuel (diesel, NG, petrol) powered generation. Nice. Take that Lithium Polymer. ;)
There has been a lot of talk about Tesla offering $200/kwhr power, really offered on the backs of Nevada tax payer concessions and deals worked out with Panasonic and LG for lithium batteries. This little factoid above I hope will filter to the masses. The goo goo gaga gushing over Tesla and Musk is finally over, so please spread the word. :)
Smart Contracts, Distributed Public Ledgers and Power Project Annuities
Managing the power project in general, means TWIND Power are offering up the project as an annuity investment to the un-accredited investor in the crypto space via a smart contract, smart enough we hope to do the last three points well, with the ability to attract investment through multiple liquidity pairs roots off Bitcoin, Ethereum, Litecoin, IOTA, Dash and other major crypto currencies, all with decent liquidity (convertibility into fiat so we can pay our local bills in fiat and run our own operation smoothly). Soon we hope we will be able to accept Bitcoin and major Alt-coins to finance our own energy station projects at TWIND Power, in addition to, and at the same price as accredited investors, as an annuity share really functions as a preferred, not voting share, very similar to ICO investments, this time with a minimum guaranteed return (barring acts of god like a hurricane, tornado, or a destructive civil revolution/war for example..,)in the form of an annuity.
Now the big question for TWIND Power? Which distributed public ledger to hang our Smart Contract on? There are a few which come to mind, all of which have transaction fees.
Ethereum is for many, the obvious choice. Search long and hard and you will find others,(NEM, TRON, Waves, etc.., ), however all with the same model of charging fees for every transaction. Bummer. :(
So where are the distributed public ledgers not charging transaction fees, one might ask (especially if the business model supports lots of little transaction like an annuity payout)? After all are they not public, and open source? TWIND Power envision thousands of small annuity payout transactions per month, and many small micro investments from unaccredited investors wishing to put their cryptocurrency investment to work, so what should they have to pay for every single transaction to some faceless distributed public ledger mechanism, so some miner of crypto gets rich. It seems less than fair.
Well open source does not necessarily mean free, and that is ok. Paying a tax on every transaction is an age old story, which most of dislike. Hey, I already pay for Internet hook up and use of bandwidth, why should I have to pay for transactions every time.
IOTA to the Rescue? Qubic and Q-Nodes look promising..
Thankfully IOTA has broken the mould and in the upcoming offer of #Qubic, will offer Smart Contracts connected to their already fee-less distributed public ledger the #IOTA #Tangle as nodes get upgraded to Q-Nodes. No mining = no transaction fees. All the IOTA have been minted and issued, making IOTA a very solid store of value, immune to money regime manipulation. Nice. Plus there are many nodes in operation worldwide. Double Nice.
This will mean by using QUBIC Smart Contracts on the IOTA Tangle distributed public ledger (it will be an upgrade to Q-Node) TWIND Power will gain the ability to make a transaction payout of each power project annuity in MIOTA to potentially thousands of annuity share holders to keep your transactions fees zero. Nice. Especially when you are paying a monthly annuity to thousands of unaccredited crypto investors expecting their full amount in return for investment in our TWIND Powered off-grid energy station projects.
So we will wait for Qubic, we have a bit of time before we have production ready systems ready to pay an annuity for project investments from crypto-currency holders. Each power project set of investments will be administered through a smart contract mounted on Tangle Q-Node, with built in logic able to support trade-able, sale-able smart contract share rights in different major cryptocurrency denominations. The Qubic Smart Contract will have a registry of investors and mutable data store to keep track of key items like who has invested what and when and is a current or past annuity shareholder, and also allow an investor of record to sell their annuity, or buy more available share of the annuity in new or existing projects, effectively creating a micro marketplace for power project annuities, all values in MIOTA, with zero transaction fees.
In the future, TWIND Power also plan to offer a low cost exchange service within the smart contract at current liquidity pair average price to facility buy/sell of the project annuity in different liquidity pair combinations. This will require the TWIND Power Project Smart Contract to access a gateway server (likely implemented with IXI interface from IOTA) to access multiple third party rate information in order to fetch the average current exchange rate, and time stamp the fetch time, and then apply it optionally to any annuity transaction between signed multiple parties,which might occur after the original rate exchange data fetch.
There is still much work ahead (for us and IOTA), however the medium term outlook for Smart contracts on #Qubic and the #IOTA #Tangle looks very promising. We will keep you posted as we make additional progress. :)
r2
