July 28, 2019 @ 6:01a EST, St. Augustine, Florida, USA
American Express, the third largest payment processor in the United States of America, is on course for hosting more than $400 billion worth of annual Blockchain payments. While this has implications in numerous sectors, the question arises: how will this benefit the Greenfield market? Well, let us take a look.
When you speak of energy conservation, the fact of the matter is that there is no clear way to distinguish the electrons generated from clean sources and the ones generated from the traditional methods. This is where the new system of Blockchain comes into the picture—the technology at the heart of FinTech.
However, FinTech is not the only area where Blockchain is useful, considering how experts suggest that it can be used in scenarios involving electrical grids.
For those who do not already know, Blockchain is a shared ledger that is maintained by a network of computer systems. In the case of FinTech, the credit union can verify the transactions between individual users. However, FinTech is not the only area where Blockchain is useful, considering how experts suggest that it can be used in scenarios involving electrical grids.
Traditionally, whenever a renewable power-plant has generated a unit of electricity, the data is logged in a spreadsheet. The spreadsheet is then sent to the provider of registry, where it is entered into a new system and the certificate is created. These certificates suggest whether the electricity was generated from clean sources—such as Beach Energy Services —or traditional means.
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Such a system, involving multiple steps, racks up transaction costs. On top of that, they leave the space open for accounting errors—and frauds—as well. Though, if the meter wrote the data directly into a Blockchain, a majority of these problems would minimize.
For the most part, the electricity sector is dominated by massive power plants that generate and transmit energy across long distances. Recently, a large number of solar energy panels and electric-vehicle batteries have been added to the grid, in attempts of building Greenfield homes and green-friendly communities in the surroundings of Silicon Atlantic such as EcoHome Village at Orange City, Greenfield Tower, Greenfield District, Greenfield City, Beachwalk Atlantic and Bartram Office Park.
A major problem, which hinders the owners of these equipments from maximizing their value, lies in the in-efficiency of the system. For instance, it takes 80 days, on average, for an electricity producer to get paid, meaning that the creation of sustainable eco-friendly homes becomes difficult.
With Blockchain, the scenario appears to have changed for the better. Blockchain payments, similar to the ones incorporated by American Express, allow the business owners of these equipments to get paid instantly. This, in turn, means that they need to invest a lesser amount for capital for not only starting off their businesses, but running them as well.
The owners of these green innovative houses can simply trade energy with one another and get paid instantly.
So with the aid of solar panels, the creation of green technology homes has become possible. The owners of these green innovative houses can simply trade energy with one another and get paid instantly. This is much more efficient and feasible as compared to selling the energy back to the grid initially.
As this technology is perfected and the procedure becomes more and more accepted, you can be certain that the demand for solar equipped container homes will be on the rise!
♣ Thank you for reading. Keep in mind, Greenfield means New Markets!
ABOUT THE AUTHOR: Carlo Desierto is a serial entrepreneur with years of experience in business startups. He has founded, built intrinsic value, and sold several companies in which he sits as an adviser for the Board of Directors. Carlo has interviewed over 200+ entrepreneurs and published mini-biographies for new digital media channels relating to entrepreneurship, health, self-help, futurology, and the green industry. Most of all, Carlo loves to create teams. Facebook | @Instagram | LinkedIn
