Money needs to be a ‘Unit of Account’ that is recognized by all parties. It needs to be divisible without destroying value, and have the same value in different places.
New digital platforms like Bitcoin and blockchain-enabled smart contracts are demonstrating how networked peer-to-peer exchange can work at scale, bypassing centralized intermediaries.
Now the growth of distributed renewable energy resources like rooftop solar, home batteries, and electric vehicles is powering similar disruption in our electricity systems. Local nested microgrids enable solar panel owners to sell excess generation to their neighbors. Smart meters track two-way power flows, and an integrated distributed ledger records exchanges in tokenized kWh credits. Transactions happen seamlessly via digital wallets.
This shift to transactive energy builds reliability through localization and network connectivity. Excess renewable energy can be shared peer-to-peer, while still keeping critical facilities running if the larger grid goes down. The platform coordinates supply and demand at the community level.
Globally, similar networks are emerging to align local production, sharing, consumption, and funding around sustainability aims. They foster cooperation by internalizing environmental signals and outcomes for the community.
While kilowatt-hours can’t be stored directly, they have an indisputable standardized value. Blockchain-backed tokens allow kWh credits earned feeding energy to the microgrid during peak solar hours to be spent on movie tickets during other times.
2.1 Gold and silver specifications
Note: 1 ounce = 437.5 grains and one pound = 7000 grains