Renewable Energy and Blockchain Technology – Glasgow All Energy Show

unless that is just really to our first methods energy now and help it in fairness not visiting reputation about blockchain technology but how is that a partnership into the offices of feed-in-tariffs and since that remember that already purchased a system from jobs does he have extra words in reality so much he also has to say hello to you talks perfect okay everyone thank you Sam for that introduction so as a he quite rightly said my name is Joshua and I own a company called easy crypto hunter so I have been impressed usually when I go to these things everyone thinks that I'm some super genius guys talking about blockchain but it's nice to feel pretty stupid in the room compared to a lot of you guys here so a lot of people might be thinking you know what are you doing here what cryptocurrency Bitcoin what is all this rubbish gotta do my hydro facility what I'm here to basically talk to you about is the financial mechanism that a lot of people and a lot of these sites have been looking for now exists entirely separate from government subsidy and feed-in tariffs the numbers that we've been able to receive thankfully through this technology genuinely could revolution as a sector and full-stop done and that's really what we're here to talk about so hopefully there'll be some good understanding here so this is kind of what I'm gonna take you through I'm sorry if I can click through here we're on that perfect okay so this is kind of a little introduction so we're gonna explain basically who we are kind of what we do you're going to get a whistle-stop tour of what the heck is blockchain so it's probably this daft word you've heard a hundred times and you're just thinking what on earth is this hopefully I can break it down for you in super simple terms then we're gonna move into what is crypto what is Krypton mining and more importantly then how does it then affect the energy sector and where does that go so this is pretty much what we're doing so we talk all sorts of places now and from the oil energy Expo Samus said we're at the solar and storage event and we do an awful lot of traditional investor and business stuff down in London in the crypt on blockchain space as well and this is what we're into so we were kind of founded fairly recently in 2017 a big passion for cryptocurrency and blockchain it's this amazing new technology that a lot of people just misunderstand and they think it's all about money and it's just a silly thing but it's so much bigger than people realize as you soon gonna realize we want to make it nice and easy for people which is why we've got real people real offices we've got a team my team was with me here today open offices where I people come and seals come and meet us because we get this all the time it's all too good to be true it all just doesn't is a thing but we like to disseminate some of those myths and make it really easy for people so that's what we're here to do today so this is pretty much an overview of what we do how do we actually help our clients so this is the products in question today we actually manufacture these in Manchester all custom-built them so effectively just for reference purposes it's a posh computer you don't need to know too much more than that at this point we also have a consultancy service working with other companies such as yourselves as how you can get involved in the sector I also own one of the UK's first cryptocurrency accountancy firms because there's lots of people making money from Bitcoin and crypto and how does that affect my taxes incredibly well is the answer so you help people with that and a training arm as well just to help people get get through that type of side of things so we have a full count of 360 stuff so we're going to kind of Whistlestop through this in only 15 minutes so what then is blockchain because that's a good place to start otherwise this isn't going to get to too far for you so it's dead dead straightforward blockchain is simply the underlying technology and all this cool cryptocurrency stuff sits on top of that so I've got some interesting examples coming up to kind of explain this in a bit more detail that will make some some good sense so in order to kind of make this thing where all this money comes from we need to kind of understand that current system so this would be a representation of say banks so if you can imagine all of these different banks or you have your bank account with some time they're your personal money and all your records are stored on some time their bank servers they own it they control it and all it takes is one genius 12 year old kid to hack that and all your money goes bye-bye and your online banking is down it's happened to most of us in the room I'm sure so that data is stored centrally and it's called a centralized storage system that's pretty much what happens at the moment usually takes the form of something physical like this huge data centers you know CEO Amazon for example has warehouses of warehouses of computers that you know you order your toothbrush and it terms up next day awesome but they control that they have the full system infrastructure to be able to do that everything's kept in one place now the blockchain basically changes the way that data is stored and data is transmitted between parties effectively what we have here is a mechanism where everyone is communicating with everyone at the same time so that they're in there's never any transparency errors there's never any mistakes no information is able to be corrupted or changed so we're using the example of banks because it's easy to think about it in terms of money but the applications are much much wider than that as we assume I'm going to realize so in really really simple terms imagine a spreadsheet that everyone can see the change is on which is really really useful for lots of businesses so there's a quick little slide here that says the kind of difference is between them so in their current system on the left here we've got a central point of weakness it can very time-consuming and because there are third parties involved in that you know if someone wants to pay me hopefully as you'll want to after the presentation and there are lots of things that need to happen I need to trust that my bank is going to give me the money and we need to trust that your bank's going to send that money we effectively have no mechanism to pay each other directly we need to trust the third party entity to make that happen so if you've ever sent money internationally you can sometimes realize how expensive that can be because people take the little slice along the way so on the opposite side of the system here we've got this distributed ledger which is just a way of saying that all the informations communicated and recorded separately in different it's decentralized so it's kept in physically different places which means there's no one central point of weakness it's really fast and traceable everything is public so no money can ever disappear or be created and there's a minimum cost because of that so the applications for business which is where it gets quite interesting every one of you in the rooms probably heard of Bitcoin may or may not understand what it is but the ecosystem is so so much bigger than that now so we have AXA insurance company a using the blockchain for to meet it insurance payouts so if you take your family on holiday and the flight is delayed currently and you've got flight insurance what's the process call them up email email email haggle on the phone six weeks later you might get a check in the post pain in the back side view annoying for them to and it's very expensive thankfully on the etherium network the second the plain wheels don't leave you instantaneously get paid your human interaction in the middle really cool use of the technology the NHS is currently looking at putting our medical records on the blockchain so that if we have accidents in different places that human interaction of where your data is is its secured and we don't need to go chasing back your area of NHS authority to see what type it will group is for example supply chain traceability as well where you meet came from what farm it came from imports exports packaging all that type of stuff basically will be also have a record of all this data that can never be amended or changed and is publicly shared and verifiable so then what the heck is cryptocurrency if that's a bit different so effectively cryptocurrency is a really confusing term and this is where people go wrong only some coins are forms of currency so there are over 2000 coins crypto currencies in the ecosystem today Bitcoin being the big one but only maybe 25 of those are actual currencies as we imagine them they're trying to be forms of payment the other eighteen hundred plus as I've just explained effectively shares in other businesses that are using the same technology to perform a whole myriad of different services and that's why the blockchain and cryptocurrency sectors growing so much because it's not just about money it's just one iteration of it's amazing technology so this is the best way to kind of clarify that so the same way now we have the Internet as the cool underlying baseline technology and we have things like Facebook Amazon eBay they all sit on top of those none of us would say the eBay is the internet none of us would say that Amazon is the internet we know that the Internet's the cool technology underneath and they're independent businesses on top nice and simple and that's pretty much the same way the blockchain works so what changed the cool underlying technology and then you've got things like Bitcoin aetherium and Tron and all these are the thousands of things that sit on top of it that are all performing totally different business services using that same technology so today that kind of leaves us in the position where we are now so people think it's this magical mythical tokens that are rubbish and it's just online for nerds and Geeks you can literally trade it into cash now hundreds of different places loads of companies now accept it Amazon Microsoft Lamborghini and people are purchasing cars with it we now have even Bitcoin debit cards which you have literally been able to buy my staff lunch with today so you can use it as cash as payment just as you can with anything else so this is the fastest growing sector in the world I think as today we're about two hundred and twenty billion dollar sector so this isn't any small fry so what's the future like we've got fidelity investments that have now moved in there it's becoming a regulated asset class in America we have things like the Samsung Galaxy S turn all the new songs from devices contain cryptocurrency wallets inbuilt to them so a mass adoption is coming very quickly and ultimately JP Morgan's now created its own banking coin so some of the big people have really got involved in this sector simply because of the technological advancements in the middle when people ask me to kind of break down well what is the blockchain in absolutely its nutshell formed we've digitized human trust so we soon not going to no longer need you know mortgages and lawyers and banks the same way that we do today because ultimately all of those entities exist to make sure party a and party B does what they say they're going to do the blockchain replaces that mechanism which is really exciting and that's why we're moving so quickly so JP Morgan uses that for that exact reason now stacks doing some same stuff with them to use in to ship to do fractional share reserves on the blockchain so instead of maybe putting things on the Nasdaq traditionally for stocks and shares you could make your own tokens and then give away company assets in that respect so it's all quite interesting stuff so then what on earth is crypt or mining and how does that work where does that fit into the equation so again it's dead simple and people kind of over over at this so crypto mining is effectively being paid for providing computer power to the blockchain so the same way the internet needs internet servers and it's all very easy for us to conceptually understand that some there's a big warehouse of computers that keep all our websites going many of us on this website on our own businesses and have websites every single month we pay a monthly web hosting fee to keep our websites online why you're paying a computer to perform a service for you the service of keeping your website online similarly in the blockchain and crypto world if anyone wants to move around these digital tokens it requires computer power to do so and that's the equipment that we make so if you own that equipment you can get paid for the service of moving around the transactions you plug in a computer you leave it running every day and it pays you for Internet services nothing more complicated than that and that is exactly how this diagram illustrates it so you'd have a machine that sits there doing its thing it effectively processes the transactions between parties a and B and you get paid a little thank-you for that voluntary service so nothing too complex so why on earth then would you want to diversify in the into Krypton mining and why particularly for the energy sector is this a thing so this is kind of where we've got now so we've got sites as Simon said we've got some high drill anaerobic digestion solar wind and effectively this these are the problems that we solve in some sites have wasted energy that can't always be harnessed the grid can't always take it in adequate storage batteries and all these different things can very expensive and have a small runtime and Technology scale that moves very quickly slow returns some of these sites can have 10 15 20 ROI periods for the infrastructure costs and Domitian tariffs as I'm sure we're all aware is kind of virtually non-existent in the sector we're standing in today so this is pretty much how it works we can monetize or underutilized energy we've got vastly different ROI numbers the devices that we produce the only waste product is heat because it's a pot computer so now we have secondary uses where people are putting these on site and now getting paid to heat an air volume which is a very interesting commercial play for us and you can have multiple times a feed-in tariffs so these are the kind of crooks of what we're here to do today getting into the numbers so again this is kind of what we've got down to so what we've done just to kind of give you some background as to where the numbers from this is based upon one machine and we left it mining which is the technical process of providing the transactions we left it running for the whole year we sold all the generation that came from that for cash and then we worked the numbers backwards because obviously one unit has a fixed power usage of 1.1 kilowatts you can scale that up and have as many machines as you need to fit your site so it's perfect for the small hydro stuff and the large things too and in the last 18 months that we've been demonstrating this and running on site the average of what we've seen is over 40 pence per kilowatt so as you can appreciate it dramatically changes the figures from any existing model that's out there through nothing more crazier than selling computer power so this is kind of how it works in practice so your current approach might be renewable energy in into the National Grid and maybe get in a small tariff of what's left around four to eight pence unless you're on there the older contracts from years gone by and our simple proposition is you take the renewable energy instead of selling that energy directly you self consume that energy on our equipment that equipment then does all its process in all its transactions you know the very small little computers only fifty five centimeters you can plug them in stack them in recommend we do containerized solutions for larger facilities as well you then get paid a nice service fee for processing all those transactions on the world's fastest-growing technology sector and then you get paid cash you can just sell those in an open market with literally billions of daily volume so effectively that's how it works and then again as we discussed the only kind of waste product in all this is heat which for a lot of the clients that we've got this in is very advantageous we've got some people that are using the waste heat to power spare tenants or houses or hotels or businesses it's just a another very commercial product that you get from from having this which is really really simple so I've got lots more kind of numbers and figures to show you but just in a time limitation that I've got I wanted to get through things quite quickly I know we've got some questions coming up shortly which I've been more than happy to answer so thank you very much for that quick little overview and I hope that's been quite interesting to you if nothing else thank you very much you [Applause]

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