Alex Miller and Karl Kreder, Co-Founders of Grid Plus–More Efficient Energy Markets Through the Ethereum Blockchain

Finding Genius Podcast

Richard Jacobs

Medicine, Health & Fitness

4.4 • 1K Ratings

🗓️ 3 October 2017

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Current energy markets are highly inefficient. Particularly in Texas, where Grid Plus was founded, the biggest inefficiencies are through the retailers, or utility companies. These retailers are not responsible for creating energy nor for maintaining the grid, and yet have nearly a 100% markup on the energy purchased through them.
Grid Plus plans to change that, by using the Ethereum blockchain to allow consumers to pay for electricity in real-time. This means that paying consumers wont have to subsidize the bills of individuals who don't pay, much of the administrative costs of traditional retailers can be eliminated, and energy sold to consumers for a lower cost–saving the average consumer an estimated 35-40%. Pre-paying with fiat or credit cards allows digital tokens to be sent to the consumer agent, who will facilitate the paying of energy in real-time.
This system also will allow people to purchase solar panels and put energy back into the grid. Ultimately, they hope to incentivize peer-to-peer transactions, and the creation of local grids.
For more information, visit www.gridplus.io.

Transcript

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0:00.0	The Bitcoin, Ethereum, and Blockchain Super Conference is coming to Dallas, Texas, February 16, 17, and 18 in 2018.
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0:45.5	Welcome to Almost Here, Round the Corner of Future Technology Podcasts with Richard Jacobs.
0:51.8	Future Technologies are always to transform our lives for better or worse, are the focus of this podcast.
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1:01.6	We're just around the corner, from Bitcoin to artificial intelligence, 3D printing, blockchain, virtual reality, and more.
1:10.3	Hello, this is Richard Jacobs with Future Tech Podcast. I have two guests, Alex Miller and
1:16.0	Carl Cretter, co-founders of Grid Plus. How are you guys doing? Doing pretty well. Thanks for
1:21.2	having us. Yeah, thanks for having us. Yeah, no problem, no problem. I know Carl's traveling
1:26.3	in Europe and you guys are out and about, you know, promoting and working on things. So, so listeners, the basics. What's
1:32.3	Grid Plus about? I guess I'll take that one. So Grid Plus is basically bringing blockchain
1:40.8	to electricity markets to try to make them more efficient to lower costs
1:46.7	and to help create sort of the transactional infrastructure needed to efficiently bring on more
1:56.9	renewable energy and distributed energy resources to the grid in the future.
2:01.6	Yeah, I remember, well, now it's probably like 12 years ago with Enron in the, you know,
2:06.5	the U.S., they were messing around with the cost of energy and they drove up prices like crazy.
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