Fastcompany.com just reported on how Ikea is experimenting with the marriage of solar energy and blockchain technology through SolarVille project. This SolarVille project is constructed in a way in which each homeowner’s excess solar energy in the whole solar grid (each home is connected to the whole grid) can be accounted and released into the market for gains through blockchain technology. I think this is a very interesting project since it could help counter the argument that cryptocurrencies are wasting energy by having people using a lot of energy to mine the crypto coins.
If you have read my blog posts a lot, you know I’m not a big fan of Bitcoin and other crypto coins/currency since I know that the governments of the world won’t allow unsanctioned crypto coins to thrive. Furthermore, anyone could just create unsanctioned crypto coins to further dilute and confuse the whole crypto coin market. Nonetheless, I’m very interested in the blockchain technology itself.
In my opinion, even though I don’t like Bitcoin and other cryptocurrencies for the various reasons I stated earlier and other reasons I haven’t stated in this blog post — I do think SolarVille project could shine some light on how people could create a similar project to gain excess energy from the sun so this energy could be used to mine for more cryptocurrencies. This way people cannot say that you waste energy to mine crypto currencies because the energy from the sun, theoretically, is endless. Technically though, you are still wasting energy to mine crypto coins, but at least you’re wasting energy in a very green manner.
What do I think about SolarVille project itself? I think it’s very cool! I mean if the whole city is being constructed into a solar farm grid like this, then families in this specific city will definitely spend less or actually gain monetary values through selling excess unused solar energy. This scenario could actually inject extra money into the whole economy out of nowhere and also create a new vein in the whole economy of a city.