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my<00:00:13.210><c> name</c><00:00:13.330><c> is</c><00:00:13.389><c> greg</c><00:00:13.540><c> mcdonald</c><00:00:14.020><c> and</c><00:00:14.460><c> this</c><00:00:15.460><c> is</c>

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my name is greg mcdonald and this is
 

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my name is greg mcdonald and this is
brendan<00:00:16.029><c> Playford</c><00:00:16.390><c> hi</c><00:00:16.779><c> guys</c><00:00:17.020><c> and</c><00:00:17.529><c> we're</c><00:00:18.369><c> here</c>

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brendan Playford hi guys and we're here
 

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brendan Playford hi guys and we're here
to<00:00:18.550><c> tell</c><00:00:18.700><c> you</c><00:00:18.820><c> about</c><00:00:18.880><c> the</c><00:00:19.390><c> the</c><00:00:19.900><c> energy</c>

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to tell you about the the energy
 

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to tell you about the the energy
blockchain<00:00:20.500><c> give</c><00:00:20.680><c> you</c><00:00:20.800><c> an</c><00:00:20.890><c> overview</c><00:00:21.130><c> of</c><00:00:21.279><c> that</c>

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blockchain give you an overview of that
 

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blockchain give you an overview of that
so<00:00:23.320><c> today</c><00:00:23.920><c> we</c><00:00:24.039><c> just</c><00:00:24.190><c> would</c><00:00:24.580><c> love</c><00:00:24.699><c> to</c><00:00:24.760><c> take</c><00:00:25.029><c> the</c>

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so today we just would love to take the
 

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so today we just would love to take the
opportunity<00:00:25.570><c> to</c><00:00:25.660><c> talk</c><00:00:25.840><c> to</c><00:00:25.869><c> you</c><00:00:26.050><c> about</c><00:00:26.289><c> a</c>

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opportunity to talk to you about a
 

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opportunity to talk to you about a
couple<00:00:26.619><c> different</c><00:00:26.770><c> things</c><00:00:27.090><c> first</c><00:00:28.090><c> of</c><00:00:28.210><c> all</c><00:00:28.300><c> we</c>

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couple different things first of all we
 

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couple different things first of all we
kind<00:00:28.600><c> of</c><00:00:28.660><c> want</c><00:00:28.779><c> to</c><00:00:28.840><c> frame</c><00:00:29.050><c> the</c><00:00:29.170><c> situation</c><00:00:29.740><c> of</c>

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kind of want to frame the situation of
 

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kind of want to frame the situation of
the<00:00:30.010><c> state</c><00:00:30.070><c> of</c><00:00:30.310><c> energy</c><00:00:30.699><c> markets</c><00:00:31.000><c> today</c><00:00:31.439><c> and</c><00:00:32.439><c> to</c>

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the state of energy markets today and to
 

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the state of energy markets today and to
find<00:00:33.220><c> the</c><00:00:33.340><c> opportunity</c><00:00:33.850><c> for</c><00:00:34.000><c> a</c><00:00:34.059><c> new</c><00:00:34.180><c> energy</c>

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find the opportunity for a new energy
 

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find the opportunity for a new energy
paradigm<00:00:34.870><c> and</c><00:00:35.280><c> and</c><00:00:36.280><c> point</c><00:00:37.000><c> out</c><00:00:37.090><c> how</c><00:00:37.239><c> current</c>

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paradigm and and point out how current
 

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paradigm and and point out how current
public<00:00:37.870><c> blockchain</c><00:00:38.230><c> infrastructure</c><00:00:38.800><c> is</c>

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public blockchain infrastructure is
 

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public blockchain infrastructure is
generally<00:00:39.370><c> incompatible</c><00:00:40.590><c> with</c><00:00:41.940><c> with</c><00:00:42.940><c> the</c>

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generally incompatible with with the
 

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generally incompatible with with the
energy<00:00:43.329><c> infrastructure</c><00:00:43.809><c> today</c><00:00:44.309><c> and</c><00:00:45.309><c> how</c>

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energy infrastructure today and how
 

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energy infrastructure today and how
we're<00:00:46.239><c> building</c><00:00:46.360><c> a</c><00:00:46.570><c> new</c><00:00:46.690><c> infrastructure</c><00:00:47.079><c> that</c>

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we're building a new infrastructure that
 

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we're building a new infrastructure that
will<00:00:47.469><c> enable</c><00:00:47.770><c> that</c><00:00:48.399><c> transition</c><00:00:48.940><c> and</c><00:00:49.210><c> then</c>

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will enable that transition and then
 

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will enable that transition and then
give<00:00:49.510><c> an</c><00:00:49.600><c> example</c><00:00:49.899><c> of</c><00:00:50.079><c> an</c><00:00:50.200><c> application</c><00:00:50.320><c> that</c>

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give an example of an application that
 

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give an example of an application that
will<00:00:50.890><c> run</c><00:00:51.039><c> there</c><00:00:52.500><c> so</c><00:00:53.500><c> energy</c><00:00:53.980><c> infrastructure</c>

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will run there so energy infrastructure
 

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will run there so energy infrastructure
today<00:00:54.640><c> was</c><00:00:54.910><c> largely</c><00:00:55.239><c> designed</c><00:00:55.660><c> a</c><00:00:56.230><c> long</c><00:00:56.590><c> time</c>

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today was largely designed a long time
 

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today was largely designed a long time
ago<00:00:57.160><c> and</c><00:00:57.969><c> a</c><00:00:58.270><c> lot</c><00:00:58.300><c> of</c><00:00:58.510><c> regulation</c><00:00:58.960><c> that</c><00:00:59.110><c> applies</c>

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ago and a lot of regulation that applies
 

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ago and a lot of regulation that applies
to<00:00:59.379><c> it</c><00:00:59.739><c> today</c><00:01:00.010><c> which</c><00:01:00.579><c> disciples</c><00:01:01.059><c> the</c>

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to it today which disciples the
 

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to it today which disciples the
innovation<00:01:01.660><c> was</c><00:01:02.230><c> put</c><00:01:02.440><c> in</c><00:01:02.559><c> place</c><00:01:02.680><c> about</c><00:01:02.980><c> a</c>

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innovation was put in place about a
 

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innovation was put in place about a
hundred<00:01:03.370><c> years</c><00:01:03.520><c> ago</c><00:01:03.610><c> and</c><00:01:03.969><c> has</c><00:01:04.690><c> been</c><00:01:04.720><c> lobbied</c>

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hundred years ago and has been lobbied
 

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hundred years ago and has been lobbied
for<00:01:05.229><c> to</c><00:01:05.590><c> keep</c><00:01:05.710><c> in</c><00:01:05.890><c> place</c><00:01:06.100><c> since</c><00:01:06.340><c> then</c><00:01:06.690><c> so</c>

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for to keep in place since then so
 

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for to keep in place since then so
there's<00:01:07.869><c> massive</c><00:01:08.200><c> inefficiencies</c><00:01:08.320><c> in</c><00:01:09.190><c> the</c>

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there's massive inefficiencies in the
 

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there's massive inefficiencies in the
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entire ecosystem and infrastructure and
 

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entire ecosystem and infrastructure and
the<00:01:13.479><c> control</c><00:01:13.750><c> and</c><00:01:13.900><c> distribution</c><00:01:14.500><c> of</c><00:01:14.770><c> energy</c>

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the control and distribution of energy
 

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the control and distribution of energy
today<00:01:15.340><c> is</c><00:01:15.610><c> actually</c><00:01:16.000><c> quite</c><00:01:16.240><c> antiquated</c><00:01:16.750><c> and</c>

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today is actually quite antiquated and
 

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today is actually quite antiquated and
so<00:01:17.229><c> there's</c><00:01:18.100><c> a</c><00:01:18.189><c> lot</c><00:01:18.340><c> of</c><00:01:18.460><c> regulation</c><00:01:18.880><c> that's</c>

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so there's a lot of regulation that's
 

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so there's a lot of regulation that's
preventing<00:01:19.869><c> us</c><00:01:19.990><c> from</c><00:01:20.790><c> from</c><00:01:21.790><c> implementing</c><00:01:22.479><c> a</c>

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preventing us from from implementing a
 

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preventing us from from implementing a
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new system so it's super important that
 

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new system so it's super important that
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we work with the current incumbents to
 

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we work with the current incumbents to
integrate<00:01:27.189><c> this</c><00:01:27.520><c> system</c><00:01:27.939><c> and</c><00:01:34.439><c> aware</c><00:01:35.439><c> of</c><00:01:35.590><c> how</c>

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integrate this system and aware of how
 

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integrate this system and aware of how
your<00:01:35.950><c> energy</c><00:01:36.100><c> what</c><00:01:36.729><c> process</c><00:01:37.299><c> energy</c><00:01:37.540><c> goes</c>

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your energy what process energy goes
 

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your energy what process energy goes
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through to get to your home right now
 

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through to get to your home right now
do<00:01:40.000><c> you</c><00:01:40.090><c> even</c><00:01:40.180><c> know</c><00:01:40.420><c> whether</c><00:01:40.630><c> you're</c><00:01:40.750><c> a</c>

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do you even know whether you're a
 

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do you even know whether you're a
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deregulated space or a regulated space
 

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deregulated space or a regulated space
there<00:01:43.930><c> are</c><00:01:43.960><c> certain</c><00:01:44.259><c> states</c><00:01:44.470><c> in</c><00:01:44.650><c> America</c>

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there are certain states in America
 

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there are certain states in America
hands<00:01:45.610><c> up</c><00:01:45.759><c> really</c><00:01:46.180><c> if</c><00:01:46.299><c> anyone</c><00:01:46.720><c> fully</c>

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hands up really if anyone fully
 

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hands up really if anyone fully
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understands the process through which
 

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understands the process through which
their<00:01:49.210><c> energy</c><00:01:49.479><c> goes</c><00:01:49.600><c> to</c><00:01:49.630><c> get</c><00:01:49.840><c> to</c><00:01:49.960><c> them</c><00:01:50.250><c> so</c><00:01:51.250><c> one</c>

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their energy goes to get to them so one
 

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their energy goes to get to them so one
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go over here not many people here so the
 

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go over here not many people here so the
the<00:01:54.399><c> infrastructure</c><00:01:54.820><c> we</c><00:01:55.030><c> have</c><00:01:55.060><c> right</c><00:01:55.360><c> now</c><00:01:55.390><c> is</c>

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the infrastructure we have right now is
 

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the infrastructure we have right now is
pretty<00:01:55.960><c> antic</c><00:01:56.380><c> yeah</c><00:01:56.829><c> pretty</c><00:01:57.070><c> antiquated</c><00:01:57.490><c> and</c>

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pretty antic yeah pretty antiquated and
 

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pretty antic yeah pretty antiquated and
it's<00:01:58.780><c> set</c><00:01:59.049><c> up</c><00:01:59.079><c> for</c><00:01:59.229><c> a</c><00:01:59.590><c> sort</c><00:02:00.070><c> of</c><00:02:00.130><c> centralized</c>

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it's set up for a sort of centralized
 

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it's set up for a sort of centralized
highly<00:02:01.270><c> capitalized</c><00:02:01.869><c> market</c><00:02:02.350><c> system</c><00:02:02.710><c> whereby</c>

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highly capitalized market system whereby
 

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highly capitalized market system whereby
you<00:02:03.759><c> generally</c><00:02:04.180><c> have</c><00:02:04.360><c> monolithic</c><00:02:05.280><c> generators</c>

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you generally have monolithic generators
 

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you generally have monolithic generators
on<00:02:06.490><c> a</c><00:02:06.549><c> network</c><00:02:06.909><c> the</c><00:02:07.540><c> transmit</c><00:02:08.019><c> power</c><00:02:08.229><c> directly</c>

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on a network the transmit power directly
 

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on a network the transmit power directly
to<00:02:09.040><c> a</c><00:02:09.070><c> consumer</c><00:02:09.640><c> in</c><00:02:10.329><c> Europe</c><00:02:10.869><c> that's</c><00:02:11.019><c> changed</c><00:02:11.560><c> a</c>

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to a consumer in Europe that's changed a
 

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to a consumer in Europe that's changed a
little<00:02:11.739><c> bit</c><00:02:11.950><c> with</c><00:02:12.010><c> deregulation</c><00:02:12.880><c> as</c><00:02:13.000><c> in</c><00:02:13.390><c> the</c>

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little bit with deregulation as in the
 

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little bit with deregulation as in the
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u.s. markets where you've got California
 

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u.s. markets where you've got California
New<00:02:15.910><c> England</c><00:02:16.300><c> Texas</c><00:02:16.840><c> deregulated</c><00:02:17.650><c> which</c>

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New England Texas deregulated which
 

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New England Texas deregulated which
gives<00:02:18.069><c> the</c><00:02:18.640><c> opportunity</c><00:02:18.849><c> for</c><00:02:19.300><c> more</c><00:02:19.420><c> competent</c>

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gives the opportunity for more competent
 

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gives the opportunity for more competent
a<00:02:20.260><c> little</c><00:02:21.010><c> bit</c><00:02:21.129><c> more</c><00:02:21.280><c> exposure</c><00:02:21.670><c> for</c><00:02:21.970><c> other</c>

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a little bit more exposure for other
 

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a little bit more exposure for other
players<00:02:22.420><c> to</c><00:02:22.569><c> come</c><00:02:22.720><c> into</c><00:02:22.840><c> the</c><00:02:22.959><c> market</c><00:02:22.989><c> and</c>

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players to come into the market and
 

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players to come into the market and
offer<00:02:23.500><c> unique</c><00:02:23.890><c> products</c><00:02:24.310><c> and</c><00:02:25.200><c> really</c><00:02:26.200><c> you</c>

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offer unique products and really you
 

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offer unique products and really you
know<00:02:26.739><c> there's</c><00:02:27.069><c> there's</c><00:02:27.459><c> there's</c><00:02:27.730><c> limited</c>

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know there's there's there's limited
 

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know there's there's there's limited
opportunities<00:02:29.019><c> for</c><00:02:29.170><c> new</c><00:02:29.349><c> players</c><00:02:29.560><c> to</c><00:02:29.739><c> come</c><00:02:29.890><c> in</c>

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opportunities for new players to come in
 

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opportunities for new players to come in
there's<00:02:30.190><c> limited</c><00:02:30.549><c> opportunity</c><00:02:31.150><c> for</c><00:02:31.269><c> new</c>

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there's limited opportunity for new
 

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there's limited opportunity for new
technologies<00:02:32.170><c> to</c><00:02:32.200><c> be</c><00:02:32.379><c> embraced</c>

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technologies to be embraced
 

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technologies to be embraced
for<00:02:33.340><c> example</c><00:02:33.790><c> novel</c><00:02:34.120><c> gasification</c><00:02:35.019><c> we</c>

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for example novel gasification we
 

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for example novel gasification we
obviously<00:02:35.920><c> have</c><00:02:36.310><c> a</c><00:02:36.340><c> big</c><00:02:36.400><c> rush</c><00:02:36.849><c> for</c><00:02:37.090><c> solar</c><00:02:37.390><c> and</c>

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obviously have a big rush for solar and
 

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obviously have a big rush for solar and
wind<00:02:37.659><c> right</c><00:02:38.049><c> now</c><00:02:38.079><c> which</c><00:02:38.440><c> is</c><00:02:38.470><c> being</c><00:02:38.829><c> very</c><00:02:39.069><c> very</c>

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wind right now which is being very very
 

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wind right now which is being very very
well<00:02:39.489><c> financed</c><00:02:40.950><c> but</c><00:02:41.950><c> also</c><00:02:42.099><c> a</c><00:02:42.670><c> lot</c><00:02:43.150><c> of</c><00:02:43.299><c> light</c>

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well financed but also a lot of light
 

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well financed but also a lot of light
small-scale<00:02:43.989><c> projects</c><00:02:44.409><c> yeah</c><00:02:46.920><c> basically</c>

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small-scale projects yeah basically
 

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small-scale projects yeah basically
energy<00:02:50.230><c> units</c><00:02:50.530><c> that</c><00:02:50.709><c> are</c><00:02:50.860><c> generated</c><00:02:51.610><c> and</c>

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energy units that are generated and
 

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energy units that are generated and
intended<00:02:52.359><c> to</c><00:02:52.420><c> be</c><00:02:52.540><c> used</c><00:02:52.629><c> by</c><00:02:53.170><c> a</c><00:02:53.200><c> consumer</c><00:02:54.010><c> only</c>

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intended to be used by a consumer only
 

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intended to be used by a consumer only
10<00:02:54.940><c> of</c><00:02:54.970><c> those</c><00:02:55.180><c> actually</c><00:02:55.450><c> get</c><00:02:55.750><c> to</c><00:02:55.870><c> the</c><00:02:55.959><c> end</c>

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10 of those actually get to the end
 

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10 of those actually get to the end
point<00:02:56.260><c> and</c><00:02:56.459><c> when</c><00:02:57.459><c> you</c><00:02:57.579><c> do</c><00:02:58.769><c> something</c><00:02:59.769><c> like</c><00:02:59.980><c> a</c>

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point and when you do something like a
 

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point and when you do something like a
data<00:03:00.220><c> center</c><00:03:00.489><c> for</c><00:03:00.609><c> instance</c><00:03:00.940><c> it's</c><00:03:01.150><c> closer</c><00:03:01.359><c> to</c>

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data center for instance it's closer to
 

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data center for instance it's closer to
1%<00:03:01.799><c> so</c><00:03:02.799><c> this</c><00:03:02.920><c> is</c><00:03:03.040><c> actually</c><00:03:03.310><c> ridiculously</c><00:03:03.819><c> low</c>

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1% so this is actually ridiculously low
 

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1% so this is actually ridiculously low
and<00:03:04.180><c> most</c><00:03:04.359><c> of</c><00:03:04.510><c> that</c><00:03:04.540><c> happens</c><00:03:04.959><c> because</c><00:03:05.200><c> of</c>

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and most of that happens because of
 

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and most of that happens because of
inefficient<00:03:05.920><c> power</c><00:03:06.159><c> generation</c><00:03:06.519><c> so</c><00:03:07.510><c> if</c><00:03:07.599><c> we</c>

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inefficient power generation so if we
 

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inefficient power generation so if we
can<00:03:07.810><c> localize</c><00:03:08.230><c> the</c><00:03:08.440><c> power</c><00:03:08.620><c> generation</c><00:03:09.010><c> and</c>

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can localize the power generation and
 

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can localize the power generation and
provide<00:03:09.549><c> an</c><00:03:09.640><c> infrastructure</c><00:03:10.060><c> that</c><00:03:10.180><c> enables</c>

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provide an infrastructure that enables
 

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provide an infrastructure that enables
that<00:03:10.810><c> and</c><00:03:11.230><c> enables</c><00:03:11.799><c> the</c><00:03:11.950><c> value</c><00:03:12.250><c> to</c><00:03:12.430><c> be</c>

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that and enables the value to be
 

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that and enables the value to be
transferred<00:03:13.150><c> in</c><00:03:13.299><c> that</c><00:03:13.420><c> new</c><00:03:13.690><c> ecosystem</c><00:03:14.319><c> then</c>

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transferred in that new ecosystem then
 

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transferred in that new ecosystem then
we<00:03:15.190><c> can</c><00:03:15.340><c> really</c><00:03:15.609><c> increase</c><00:03:16.060><c> the</c><00:03:18.870><c> yeah</c><00:03:19.870><c> and</c><00:03:19.989><c> I'm</c>

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we can really increase the yeah and I'm
 

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we can really increase the yeah and I'm
just<00:03:20.079><c> gonna</c><00:03:20.260><c> add</c><00:03:20.500><c> science</c><00:03:20.829><c> that</c><00:03:20.950><c> really</c>

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just gonna add science that really
 

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just gonna add science that really
quickly<00:03:21.489><c> as</c><00:03:21.579><c> well</c><00:03:21.750><c> the</c><00:03:22.750><c> International</c><00:03:23.470><c> Energy</c>

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quickly as well the International Energy
 

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quickly as well the International Energy
Association<00:03:24.400><c> by</c><00:03:24.519><c> 2050</c><00:03:25.389><c> is</c><00:03:25.900><c> planning</c><00:03:26.440><c> on</c>

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Association by 2050 is planning on
 

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Association by 2050 is planning on
getting<00:03:27.090><c> 57%</c><00:03:28.090><c> of</c><00:03:28.239><c> all</c><00:03:28.329><c> renewables</c><00:03:28.900><c> to</c><00:03:29.560><c> kind</c><00:03:30.250><c> of</c>

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getting 57% of all renewables to kind of
 

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getting 57% of all renewables to kind of
give<00:03:30.519><c> global</c><00:03:31.030><c> supply</c><00:03:31.389><c> of</c><00:03:31.510><c> energy</c><00:03:31.810><c> so</c><00:03:32.019><c> 57</c>

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give global supply of energy so 57
 

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give global supply of energy so 57
percent<00:03:33.160><c> of</c><00:03:33.220><c> the</c><00:03:33.280><c> total</c><00:03:33.430><c> energy</c><00:03:33.700><c> produced</c>

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percent of the total energy produced
 

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percent of the total energy produced
will<00:03:34.660><c> have</c><00:03:34.840><c> to</c><00:03:35.019><c> come</c><00:03:35.169><c> from</c><00:03:35.290><c> in</c><00:03:35.440><c> ervil's</c><00:03:35.739><c> now</c><00:03:35.919><c> an</c>

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will have to come from in ervil's now an
 

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will have to come from in ervil's now an
interesting<00:03:36.790><c> point</c><00:03:37.209><c> to</c><00:03:37.359><c> note</c><00:03:37.389><c> about</c><00:03:37.840><c> that</c><00:03:38.019><c> is</c>

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interesting point to note about that is
 

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interesting point to note about that is
when<00:03:38.260><c> you</c><00:03:38.349><c> look</c><00:03:38.440><c> at</c><00:03:38.560><c> renewables</c><00:03:39.069><c> technology</c><00:03:39.549><c> a</c>

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when you look at renewables technology a
 

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when you look at renewables technology a
lot<00:03:39.910><c> of</c><00:03:40.000><c> it</c><00:03:40.120><c> is</c><00:03:40.709><c> decentralized</c><00:03:41.709><c> distributed</c>

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lot of it is decentralized distributed
 

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lot of it is decentralized distributed
power<00:03:42.750><c> small-scale</c><00:03:43.750><c> stuff</c><00:03:44.079><c> which</c><00:03:44.400><c> doesn't</c>

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power small-scale stuff which doesn't
 

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power small-scale stuff which doesn't
really<00:03:45.549><c> have</c><00:03:45.760><c> any</c><00:03:45.940><c> links</c><00:03:46.239><c> to</c><00:03:46.299><c> a</c><00:03:46.389><c> network</c><00:03:46.810><c> right</c>

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really have any links to a network right
 

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really have any links to a network right
now<00:03:47.019><c> so</c><00:03:47.319><c> if</c><00:03:47.410><c> I've</c><00:03:47.560><c> got</c><00:03:47.590><c> solar</c><00:03:48.069><c> panels</c><00:03:48.459><c> on</c><00:03:48.579><c> my</c>

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now so if I've got solar panels on my
 

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now so if I've got solar panels on my
house<00:03:48.940><c> yes</c><00:03:49.780><c> that's</c><00:03:50.019><c> great</c><00:03:50.199><c> I</c><00:03:50.319><c> might</c><00:03:50.620><c> have</c><00:03:50.799><c> a</c>

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house yes that's great I might have a
 

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house yes that's great I might have a
grid<00:03:51.099><c> tie</c><00:03:51.310><c> I</c><00:03:51.340><c> might</c><00:03:51.790><c> benefit</c><00:03:52.150><c> from</c><00:03:52.209><c> a</c><00:03:52.389><c> feed-in</c>

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grid tie I might benefit from a feed-in
 

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grid tie I might benefit from a feed-in
tariff<00:03:52.780><c> but</c><00:03:53.590><c> there's</c><00:03:53.739><c> a</c><00:03:53.799><c> whole</c><00:03:54.010><c> host</c><00:03:54.250><c> of</c><00:03:54.459><c> other</c>

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tariff but there's a whole host of other
 

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tariff but there's a whole host of other
tokenize<00:03:55.180><c> sort</c><00:03:55.989><c> of</c><00:03:56.049><c> derivatives</c><00:03:56.620><c> you</c><00:03:56.829><c> can</c>

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tokenize sort of derivatives you can
 

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tokenize sort of derivatives you can
take<00:03:57.160><c> from</c><00:03:57.250><c> that</c><00:03:57.370><c> model</c><00:03:57.730><c> which</c><00:03:57.849><c> can</c><00:03:58.060><c> unlock</c><00:03:58.480><c> a</c>

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take from that model which can unlock a
 

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take from that model which can unlock a
huge<00:03:59.379><c> amount</c><00:03:59.650><c> of</c><00:03:59.739><c> economic</c><00:03:59.919><c> abundance</c><00:04:00.760><c> from</c>

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huge amount of economic abundance from
 

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huge amount of economic abundance from
already<00:04:01.510><c> distributed</c><00:04:02.349><c> systems</c><00:04:02.739><c> in</c><00:04:03.280><c> order</c><00:04:03.459><c> to</c>

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already distributed systems in order to
 

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already distributed systems in order to
coalesce<00:04:04.329><c> all</c><00:04:04.660><c> of</c><00:04:04.959><c> these</c><00:04:05.079><c> things</c><00:04:05.379><c> together</c><00:04:05.590><c> we</c>

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coalesce all of these things together we
 

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coalesce all of these things together we
can<00:04:06.549><c> do</c><00:04:06.639><c> that</c><00:04:06.760><c> really</c><00:04:06.940><c> well</c><00:04:07.030><c> on</c><00:04:07.180><c> blockchain</c><00:04:07.449><c> so</c>

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can do that really well on blockchain so
 

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can do that really well on blockchain so
I'm<00:04:08.079><c> gonna</c><00:04:08.199><c> leave</c><00:04:08.290><c> Garrett</c><00:04:08.560><c> to</c><00:04:08.650><c> talk</c><00:04:08.769><c> a</c><00:04:08.799><c> bit</c>

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I'm gonna leave Garrett to talk a bit
 

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I'm gonna leave Garrett to talk a bit
more<00:04:09.129><c> and</c><00:04:09.220><c> then</c><00:04:09.310><c> I'll</c><00:04:09.400><c> come</c><00:04:09.549><c> back</c><00:04:09.579><c> to</c><00:04:09.819><c> those</c>

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more and then I'll come back to those
 

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more and then I'll come back to those
points<00:04:12.449><c> what</c><00:04:13.449><c> we</c><00:04:13.540><c> need</c><00:04:13.690><c> to</c><00:04:13.810><c> do</c><00:04:13.930><c> is</c><00:04:14.109><c> create</c>

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points what we need to do is create
 

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points what we need to do is create
every<00:04:16.539><c> single</c><00:04:16.810><c> device</c><00:04:17.019><c> that's</c><00:04:17.380><c> able</c><00:04:17.440><c> to</c>

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every single device that's able to
 

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every single device that's able to
consumer<00:04:18.400><c> produce</c><00:04:18.669><c> energy</c><00:04:19.120><c> is</c><00:04:19.299><c> connected</c><00:04:19.750><c> as</c>

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consumer produce energy is connected as
 

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consumer produce energy is connected as
a<00:04:19.930><c> node</c><00:04:20.169><c> and</c><00:04:20.410><c> that</c><00:04:20.470><c> node</c><00:04:21.370><c> is</c><00:04:21.760><c> an</c><00:04:21.910><c> agent</c><00:04:22.270><c> that's</c>

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a node and that node is an agent that's
 

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a node and that node is an agent that's
aware<00:04:22.660><c> of</c><00:04:22.780><c> all</c><00:04:22.960><c> the</c><00:04:23.289><c> other</c><00:04:23.410><c> nodes</c><00:04:23.650><c> in</c><00:04:23.800><c> its</c>

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aware of all the other nodes in its
 

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aware of all the other nodes in its
locality<00:04:24.460><c> and</c><00:04:24.669><c> can</c><00:04:24.880><c> react</c><00:04:25.180><c> dynamically</c>

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locality and can react dynamically
 

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locality and can react dynamically
according<00:04:26.199><c> to</c><00:04:26.380><c> the</c><00:04:26.590><c> current</c><00:04:26.860><c> market</c>

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according to the current market
 

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according to the current market
conditions<00:04:27.220><c> how</c><00:04:28.210><c> much</c><00:04:28.390><c> energy</c><00:04:28.599><c> is</c><00:04:28.840><c> being</c><00:04:28.900><c> sold</c>

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conditions how much energy is being sold
 

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conditions how much energy is being sold
for<00:04:29.590><c> weather</c>

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for weather
 

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for weather
what<00:04:30.400><c> time</c><00:04:30.580><c> of</c><00:04:30.610><c> day</c><00:04:30.730><c> it</c><00:04:30.970><c> is</c><00:04:31.090><c> whether</c><00:04:31.390><c> there's</c>

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what time of day it is whether there's
 

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what time of day it is whether there's
an<00:04:31.720><c> abundance</c><00:04:31.900><c> of</c><00:04:32.170><c> solar</c><00:04:32.440><c> power</c><00:04:32.650><c> that</c><00:04:32.950><c> needs</c>

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an abundance of solar power that needs
 

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an abundance of solar power that needs
to<00:04:33.250><c> be</c><00:04:33.370><c> consumed</c><00:04:33.880><c> to</c><00:04:34.240><c> not</c><00:04:34.420><c> flood</c><00:04:34.690><c> the</c><00:04:34.810><c> market</c>

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to be consumed to not flood the market
 

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to be consumed to not flood the market
or<00:04:35.380><c> flood</c><00:04:35.650><c> the</c><00:04:35.770><c> power</c><00:04:35.920><c> lines</c><00:04:36.220><c> and</c><00:04:36.610><c> there's</c>

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or flood the power lines and there's
 

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or flood the power lines and there's
actually<00:04:37.630><c> quite</c><00:04:37.780><c> a</c><00:04:37.870><c> difference</c><00:04:38.230><c> between</c>

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actually quite a difference between
 

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actually quite a difference between
interacting<00:04:39.910><c> and</c><00:04:40.030><c> physical</c><00:04:40.420><c> infrastructure</c>

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interacting and physical infrastructure
 

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interacting and physical infrastructure
like<00:04:41.170><c> this</c><00:04:41.410><c> and</c><00:04:41.680><c> something</c><00:04:42.130><c> like</c><00:04:42.250><c> finance</c>

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like this and something like finance
 

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like this and something like finance
where<00:04:43.060><c> here</c><00:04:43.540><c> if</c><00:04:43.660><c> you</c><00:04:43.870><c> mess</c><00:04:44.290><c> up</c><00:04:44.440><c> some</c><00:04:44.710><c> numbers</c>

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where here if you mess up some numbers
 

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where here if you mess up some numbers
then<00:04:45.250><c> you</c><00:04:45.280><c> can</c><00:04:45.430><c> actually</c><00:04:45.550><c> cause</c><00:04:45.850><c> fires</c><00:04:46.180><c> and</c>

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then you can actually cause fires and
 

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then you can actually cause fires and
deaths<00:04:46.860><c> it's</c><00:04:47.860><c> not</c><00:04:48.040><c> just</c><00:04:48.220><c> a</c><00:04:48.310><c> simple</c><00:04:48.520><c> rewrite</c><00:04:48.910><c> so</c>

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deaths it's not just a simple rewrite so
 

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deaths it's not just a simple rewrite so
it's<00:04:50.110><c> it's</c><00:04:50.710><c> actually</c><00:04:50.860><c> very</c><00:04:51.220><c> very</c><00:04:51.340><c> critical</c>

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it's it's actually very very critical
 

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it's it's actually very very critical
that<00:04:51.970><c> the</c><00:04:52.120><c> infrastructure</c><00:04:52.570><c> is</c><00:04:52.690><c> completely</c>

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that the infrastructure is completely
 

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that the infrastructure is completely
secure<00:04:53.740><c> and</c><00:04:57.780><c> as</c><00:04:58.780><c> well</c><00:04:58.990><c> which</c><00:04:59.200><c> is</c><00:04:59.280><c> when</c><00:05:00.280><c> you're</c>

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secure and as well which is when you're
 

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secure and as well which is when you're
looking<00:05:00.700><c> at</c><00:05:00.850><c> how</c><00:05:01.030><c> these</c><00:05:01.530><c> bits</c><00:05:02.530><c> of</c><00:05:02.770><c> hardware</c>

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looking at how these bits of hardware
 

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looking at how these bits of hardware
infrastructure<00:05:04.030><c> get</c><00:05:04.270><c> financed</c><00:05:04.870><c> so</c><00:05:05.380><c> obviously</c>

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infrastructure get financed so obviously
 

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infrastructure get financed so obviously
in<00:05:05.770><c> the</c><00:05:05.890><c> interest</c><00:05:06.310><c> of</c><00:05:06.460><c> the</c><00:05:06.610><c> actual</c><00:05:06.880><c> utility</c>

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in the interest of the actual utility
 

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in the interest of the actual utility
operator<00:05:07.810><c> so</c><00:05:08.050><c> the</c><00:05:08.140><c> actual</c><00:05:08.380><c> generator</c><00:05:08.830><c> on</c><00:05:08.980><c> the</c>

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operator so the actual generator on the
 

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operator so the actual generator on the
network<00:05:09.370><c> to</c><00:05:11.010><c> finance</c><00:05:12.010><c> that</c><00:05:12.250><c> and</c><00:05:12.540><c> create</c><00:05:13.540><c> a</c>

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network to finance that and create a
 

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network to finance that and create a
sustainable<00:05:14.410><c> way</c><00:05:14.590><c> of</c><00:05:14.620><c> getting</c><00:05:15.280><c> return</c><00:05:15.610><c> for</c>

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sustainable way of getting return for
 

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sustainable way of getting return for
investors<00:05:16.240><c> on</c><00:05:16.390><c> those</c><00:05:16.540><c> big</c><00:05:16.750><c> capital</c><00:05:17.170><c> projects</c>

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investors on those big capital projects
 

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investors on those big capital projects
again<00:05:18.340><c> going</c><00:05:18.550><c> back</c><00:05:18.670><c> to</c><00:05:18.850><c> the</c><00:05:19.060><c> fact</c><00:05:19.300><c> that</c>

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again going back to the fact that
 

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again going back to the fact that
renewables<00:05:19.960><c> are</c><00:05:20.170><c> generally</c><00:05:20.620><c> distributed</c>

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renewables are generally distributed
 

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renewables are generally distributed
systems<00:05:21.610><c> in</c><00:05:22.390><c> order</c><00:05:22.600><c> to</c><00:05:22.750><c> bring</c><00:05:22.990><c> about</c><00:05:23.110><c> an</c>

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systems in order to bring about an
 

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systems in order to bring about an
unlock<00:05:23.680><c> value</c><00:05:24.130><c> and</c><00:05:24.340><c> create</c><00:05:24.580><c> more</c><00:05:24.790><c> incentive</c>

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unlock value and create more incentive
 

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unlock value and create more incentive
for<00:05:25.570><c> people</c><00:05:25.750><c> to</c><00:05:25.930><c> either</c><00:05:26.370><c> crowdsource</c><00:05:27.370><c> or</c><00:05:27.730><c> pull</c>

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for people to either crowdsource or pull
 

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for people to either crowdsource or pull
together<00:05:28.780><c> of</c><00:05:28.960><c> resources</c><00:05:29.650><c> or</c><00:05:29.740><c> small</c><00:05:30.010><c> groups</c><00:05:30.310><c> of</c>

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together of resources or small groups of
 

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together of resources or small groups of
community<00:05:30.910><c> investors</c><00:05:31.420><c> into</c><00:05:31.840><c> I</c><00:05:32.110><c> don't</c><00:05:32.440><c> know</c>

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community investors into I don't know
 

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community investors into I don't know
like<00:05:32.860><c> a</c><00:05:33.070><c> biogas</c><00:05:33.880><c> or</c><00:05:34.150><c> a</c><00:05:34.290><c> wind</c><00:05:35.290><c> project</c><00:05:36.130><c> in</c>

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like a biogas or a wind project in
 

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like a biogas or a wind project in
Africa<00:05:37.110><c> giving</c><00:05:38.110><c> a</c><00:05:38.200><c> platform</c><00:05:38.470><c> where</c><00:05:38.890><c> people</c>

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Africa giving a platform where people
 

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Africa giving a platform where people
can<00:05:39.340><c> come</c><00:05:39.490><c> together</c><00:05:39.700><c> to</c><00:05:39.970><c> actually</c><00:05:40.330><c> finance</c>

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can come together to actually finance
 

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can come together to actually finance
that<00:05:41.010><c> giving</c><00:05:42.010><c> these</c><00:05:42.100><c> distributed</c><00:05:42.700><c> systems</c>

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that giving these distributed systems
 

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that giving these distributed systems
where<00:05:43.300><c> at</c><00:05:43.450><c> the</c><00:05:43.510><c> moment</c><00:05:43.570><c> you</c><00:05:44.050><c> can</c><00:05:44.260><c> take</c><00:05:44.530><c> a</c>

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where at the moment you can take a
 

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where at the moment you can take a
renewable<00:05:45.790><c> energy</c><00:05:46.540><c> credit</c><00:05:46.840><c> for</c><00:05:46.990><c> example</c><00:05:47.440><c> for</c>

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renewable energy credit for example for
 

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renewable energy credit for example for
a<00:05:47.680><c> small</c><00:05:48.010><c> solar</c><00:05:48.810><c> installation</c><00:05:49.810><c> on</c><00:05:49.930><c> your</c><00:05:49.960><c> house</c>

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a small solar installation on your house
 

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a small solar installation on your house
and<00:05:50.710><c> participate</c><00:05:51.460><c> in</c><00:05:51.490><c> the</c><00:05:51.730><c> rock</c><00:05:51.970><c> or</c><00:05:52.270><c> the</c><00:05:52.330><c> rec</c>

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and participate in the rock or the rec
 

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and participate in the rock or the rec
market<00:05:53.320><c> which</c><00:05:53.950><c> for</c><00:05:54.400><c> small</c><00:05:54.580><c> independent</c>

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market which for small independent
 

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market which for small independent
people<00:05:56.200><c> with</c><00:05:56.350><c> solar</c><00:05:56.620><c> panels</c><00:05:57.010><c> on</c><00:05:57.100><c> their</c><00:05:57.220><c> house</c>

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people with solar panels on their house
 

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people with solar panels on their house
is<00:05:57.580><c> not</c><00:05:57.730><c> something</c><00:05:58.060><c> can</c><00:05:58.180><c> do</c><00:05:58.360><c> you</c><00:05:58.870><c> generally</c><00:05:59.140><c> go</c>

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is not something can do you generally go
 

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is not something can do you generally go
through<00:05:59.470><c> an</c><00:05:59.560><c> agent</c><00:05:59.860><c> you</c><00:06:00.070><c> generally</c><00:06:00.460><c> bundle</c>

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through an agent you generally bundle
 

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through an agent you generally bundle
these<00:06:00.970><c> wrecks</c><00:06:01.240><c> or</c><00:06:01.450><c> rocks</c><00:06:01.660><c> up</c><00:06:01.870><c> into</c><00:06:02.080><c> one</c>

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these wrecks or rocks up into one
 

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these wrecks or rocks up into one
package<00:06:02.410><c> and</c><00:06:02.620><c> send</c><00:06:02.950><c> them</c><00:06:03.040><c> out</c><00:06:03.100><c> to</c><00:06:03.160><c> auction</c><00:06:03.640><c> so</c>

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package and send them out to auction so
 

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package and send them out to auction so
we're<00:06:04.660><c> looking</c><00:06:04.900><c> at</c><00:06:04.990><c> creating</c><00:06:05.320><c> like</c><00:06:05.470><c> a</c>

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we're looking at creating like a
 

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we're looking at creating like a
frictionless<00:06:06.010><c> way</c><00:06:06.370><c> of</c><00:06:06.580><c> moving</c><00:06:06.850><c> value</c><00:06:07.450><c> around</c>

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frictionless way of moving value around
 

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frictionless way of moving value around
this<00:06:07.780><c> system</c><00:06:08.200><c> and</c><00:06:08.290><c> that's</c><00:06:08.410><c> moving</c><00:06:08.620><c> value</c><00:06:09.130><c> not</c>

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this system and that's moving value not
 

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this system and that's moving value not
just<00:06:09.370><c> of</c><00:06:09.730><c> energy</c><00:06:10.090><c> it's</c><00:06:10.630><c> also</c><00:06:10.870><c> ways</c><00:06:11.200><c> in</c><00:06:11.230><c> which</c>

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just of energy it's also ways in which
 

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just of energy it's also ways in which
smaller<00:06:12.700><c> producers</c><00:06:13.570><c> and</c><00:06:13.810><c> smaller</c>

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smaller producers and smaller
 

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smaller producers and smaller
participants<00:06:14.770><c> in</c><00:06:14.950><c> the</c><00:06:15.040><c> network</c><00:06:15.370><c> can</c><00:06:15.640><c> benefit</c>

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participants in the network can benefit
 

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participants in the network can benefit
from<00:06:16.630><c> getting</c><00:06:17.050><c> value</c><00:06:17.380><c> from</c><00:06:17.500><c> what</c><00:06:17.680><c> they</c>

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from getting value from what they
 

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from getting value from what they
already<00:06:17.860><c> have</c><00:06:18.160><c> and</c><00:06:18.910><c> I</c><00:06:18.970><c> think</c><00:06:19.000><c> that's</c><00:06:19.210><c> like</c>

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already have and I think that's like
 

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already have and I think that's like
that<00:06:19.630><c> unlocking</c><00:06:20.080><c> of</c><00:06:20.169><c> value</c><00:06:20.470><c> is</c><00:06:20.590><c> really</c>

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that unlocking of value is really
 

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that unlocking of value is really
powerful<00:06:20.980><c> here</c><00:06:21.370><c> with</c><00:06:21.460><c> what</c><00:06:21.610><c> we're</c><00:06:21.700><c> looking</c><00:06:21.940><c> at</c>

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powerful here with what we're looking at
 

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powerful here with what we're looking at
it's<00:06:22.270><c> gonna</c><00:06:22.330><c> get</c><00:06:22.540><c> people</c><00:06:22.900><c> a</c><00:06:23.080><c> much</c><00:06:23.410><c> more</c>

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it's gonna get people a much more
 

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it's gonna get people a much more
frictionless<00:06:24.100><c> experience</c><00:06:24.250><c> and</c><00:06:25.090><c> able</c><00:06:25.360><c> to</c><00:06:25.390><c> do</c>

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frictionless experience and able to do
 

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frictionless experience and able to do
more<00:06:25.720><c> with</c><00:06:25.780><c> what</c><00:06:25.840><c> they've</c><00:06:26.050><c> got</c><00:06:26.230><c> absolutely</c><00:06:27.450><c> so</c>

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more with what they've got absolutely so
 

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more with what they've got absolutely so
here's<00:06:28.480><c> a</c><00:06:28.840><c> little</c><00:06:29.140><c> demo</c><00:06:29.530><c> that</c><00:06:29.710><c> one</c><00:06:29.919><c> of</c><00:06:30.010><c> our</c>

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here's a little demo that one of our
 

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here's a little demo that one of our
partner<00:06:30.400><c> companies</c><00:06:30.730><c> made</c><00:06:30.970><c> a</c><00:06:31.240><c> good</c>

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partner companies made a good
 

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partner companies made a good
singularity<00:06:32.110><c> that</c><00:06:32.790><c> just</c><00:06:33.790><c> shows</c><00:06:34.150><c> a</c><00:06:34.180><c> simulation</c>

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singularity that just shows a simulation
 

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singularity that just shows a simulation
of<00:06:35.050><c> a</c><00:06:35.710><c> local</c><00:06:36.010><c> energy</c><00:06:36.400><c> grid</c><00:06:36.580><c> where</c><00:06:37.210><c> all</c><00:06:37.840><c> where</c>

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of a local energy grid where all where
 

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of a local energy grid where all where
each<00:06:38.560><c> section</c><00:06:39.370><c> of</c><00:06:39.460><c> the</c><00:06:39.520><c> network</c><00:06:39.640><c> is</c>

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each section of the network is
 

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each section of the network is
today<00:06:41.000><c> I</c><00:06:41.030><c> mcli</c><00:06:41.390><c> react</c><00:06:41.720><c> to</c><00:06:42.050><c> the</c><00:06:42.200><c> others</c><00:06:42.440><c> and</c><00:06:42.800><c> it</c>

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today I mcli react to the others and it
 

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today I mcli react to the others and it
just<00:06:43.430><c> shows</c><00:06:43.700><c> an</c><00:06:43.850><c> example</c><00:06:44.000><c> of</c><00:06:44.480><c> pricing</c><00:06:44.990><c> and</c><00:06:45.260><c> if</c>

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just shows an example of pricing and if
 

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just shows an example of pricing and if
you<00:06:45.470><c> turn</c><00:06:45.650><c> off</c><00:06:45.680><c> the</c><00:06:45.890><c> powerplant</c><00:06:46.250><c> how</c><00:06:46.490><c> the</c>

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you turn off the powerplant how the
 

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you turn off the powerplant how the
house<00:06:46.760><c> is</c><00:06:47.000><c> in</c><00:06:47.180><c> that</c><00:06:47.270><c> Network</c><00:06:47.570><c> react</c><00:06:47.980><c> so</c><00:06:48.980><c> you</c>

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house is in that Network react so you
 

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house is in that Network react so you
can<00:06:49.160><c> see</c><00:06:49.280><c> that</c><00:06:49.400><c> when</c><00:06:49.520><c> the</c><00:06:49.550><c> power</c><00:06:49.790><c> plant</c><00:06:50.030><c> is</c>

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can see that when the power plant is
 

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can see that when the power plant is
turned<00:06:50.450><c> off</c><00:06:50.630><c> that</c><00:06:51.290><c> the</c><00:06:51.980><c> houses</c><00:06:52.370><c> will</c>

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turned off that the houses will
 

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turned off that the houses will
dynamically<00:06:53.410><c> adjust</c><00:06:54.410><c> their</c><00:06:54.770><c> consumption</c><00:06:55.460><c> and</c>

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dynamically adjust their consumption and
 

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dynamically adjust their consumption and
production<00:06:55.910><c> loads</c><00:06:56.420><c> and</c><00:06:56.840><c> and</c><00:06:57.770><c> basically</c><00:06:58.220><c> just</c>

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production loads and and basically just
 

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production loads and and basically just
react<00:06:58.820><c> to</c><00:06:58.910><c> that</c><00:06:59.060><c> so</c><00:06:59.240><c> that</c><00:06:59.360><c> way</c><00:06:59.450><c> in</c><00:06:59.660><c> the</c><00:06:59.780><c> event</c>

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react to that so that way in the event
 

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react to that so that way in the event
of<00:07:00.140><c> an</c><00:07:00.260><c> actual</c><00:07:00.410><c> outage</c><00:07:00.890><c> in</c><00:07:01.100><c> a</c><00:07:01.160><c> real</c><00:07:01.310><c> power</c>

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of an actual outage in a real power
 

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of an actual outage in a real power
plant<00:07:02.140><c> the</c><00:07:03.140><c> houses</c><00:07:03.560><c> will</c><00:07:03.740><c> be</c><00:07:03.830><c> able</c><00:07:03.950><c> to</c><00:07:04.190><c> still</c>

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plant the houses will be able to still
 

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plant the houses will be able to still
consume<00:07:05.060><c> power</c><00:07:05.390><c> locally</c><00:07:05.750><c> and</c><00:07:06.080><c> produce</c><00:07:06.350><c> it</c><00:07:06.560><c> and</c>

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consume power locally and produce it and
 

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consume power locally and produce it and
interact<00:07:07.040><c> with</c><00:07:07.220><c> each</c><00:07:07.460><c> other</c><00:07:07.640><c> and</c><00:07:08.390><c> this</c><00:07:08.630><c> is</c>

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interact with each other and this is
 

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interact with each other and this is
gonna<00:07:09.050><c> be</c><00:07:09.200><c> a</c><00:07:09.230><c> huge</c><00:07:09.530><c> resiliency</c><00:07:10.490><c> improvement</c>

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gonna be a huge resiliency improvement
 

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gonna be a huge resiliency improvement
for<00:07:11.690><c> energy</c><00:07:11.960><c> grids</c><00:07:12.140><c> all</c><00:07:12.290><c> over</c><00:07:12.500><c> the</c><00:07:12.590><c> world</c><00:07:12.770><c> once</c>

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for energy grids all over the world once
 

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for energy grids all over the world once
this<00:07:13.340><c> is</c><00:07:13.490><c> implemented</c><00:07:14.230><c> so</c><00:07:15.230><c> of</c><00:07:15.530><c> course</c><00:07:15.740><c> the</c>

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this is implemented so of course the
 

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this is implemented so of course the
infrastructure<00:07:16.700><c> today</c><00:07:16.940><c> doesn't</c><00:07:17.300><c> work</c><00:07:17.390><c> very</c>

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infrastructure today doesn't work very
 

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infrastructure today doesn't work very
well<00:07:17.690><c> for</c><00:07:17.810><c> that</c><00:07:18.050><c> so</c><00:07:18.380><c> we're</c><00:07:18.560><c> building</c><00:07:18.650><c> a</c><00:07:18.830><c> new</c>

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well for that so we're building a new
 

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well for that so we're building a new
one<00:07:19.070><c> and</c><00:07:19.310><c> it's</c><00:07:19.520><c> called</c><00:07:19.700><c> the</c><00:07:19.820><c> energy</c><00:07:20.090><c> web</c>

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one and it's called the energy web
 

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one and it's called the energy web
blockchain<00:07:20.690><c> and</c><00:07:21.590><c> we</c><00:07:22.100><c> have</c><00:07:22.220><c> our</c><00:07:22.310><c> test</c><00:07:22.490><c> net</c><00:07:22.640><c> live</c>

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blockchain and we have our test net live
 

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blockchain and we have our test net live
right<00:07:23.120><c> now</c><00:07:23.290><c> and</c><00:07:24.290><c> that</c><00:07:24.440><c> sets</c><00:07:24.680><c> page</c><00:07:25.070><c> is</c><00:07:25.370><c> live</c><00:07:25.790><c> and</c>

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right now and that sets page is live and
 

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right now and that sets page is live and
we<00:07:26.240><c> just</c><00:07:26.420><c> open</c><00:07:26.690><c> sourced</c><00:07:26.960><c> it</c><00:07:27.140><c> on</c><00:07:27.350><c> the</c><00:07:27.770><c> 1st</c><00:07:28.010><c> of</c>

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we just open sourced it on the 1st of
 

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we just open sourced it on the 1st of
this<00:07:28.220><c> month</c><00:07:28.630><c> and</c><00:07:29.630><c> it's</c><00:07:29.810><c> everything's</c>

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this month and it's everything's
 

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this month and it's everything's
accessible<00:07:30.500><c> there</c><00:07:30.970><c> we</c><00:07:31.970><c> can</c><00:07:32.120><c> do</c><00:07:32.180><c> 2500</c>

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accessible there we can do 2500
 

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accessible there we can do 2500
transactions<00:07:33.200><c> a</c><00:07:33.230><c> second</c><00:07:33.470><c> right</c><00:07:33.590><c> now</c><00:07:33.740><c> because</c>

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transactions a second right now because
 

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transactions a second right now because
it's<00:07:34.220><c> proof</c><00:07:34.370><c> of</c><00:07:34.430><c> authority</c><00:07:34.910><c> the</c><00:07:35.390><c> authorities</c>

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it's proof of authority the authorities
 

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it's proof of authority the authorities
are<00:07:36.160><c> energy</c><00:07:37.160><c> companies</c><00:07:37.550><c> that</c><00:07:37.790><c> we</c><00:07:37.910><c> currently</c>

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are energy companies that we currently
 

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are energy companies that we currently
trust<00:07:38.510><c> to</c><00:07:38.930><c> keep</c><00:07:39.530><c> the</c><00:07:39.620><c> lights</c><00:07:39.800><c> on</c><00:07:39.950><c> so</c><00:07:40.280><c> we</c><00:07:40.370><c> figure</c>

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trust to keep the lights on so we figure
 

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trust to keep the lights on so we figure
that<00:07:40.730><c> it's</c><00:07:40.940><c> reasonable</c><00:07:41.420><c> to</c><00:07:41.450><c> trust</c><00:07:41.750><c> them</c><00:07:41.960><c> also</c>

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that it's reasonable to trust them also
 

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that it's reasonable to trust them also
to<00:07:42.290><c> validate</c><00:07:42.710><c> blocks</c><00:07:42.980><c> correctly</c><00:07:43.570><c> and</c><00:07:44.570><c> right</c>

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to validate blocks correctly and right
 

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to validate blocks correctly and right
now<00:07:45.140><c> it's</c><00:07:45.320><c> open</c><00:07:45.830><c> network</c><00:07:46.370><c> and</c><00:07:46.460><c> it</c><00:07:46.610><c> will</c><00:07:46.670><c> always</c>

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now it's open network and it will always
 

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now it's open network and it will always
be<00:07:47.030><c> an</c><00:07:47.120><c> open</c><00:07:47.360><c> network</c><00:07:47.510><c> that</c><00:07:47.990><c> anybody</c><00:07:48.320><c> can</c><00:07:48.440><c> use</c>

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be an open network that anybody can use
 

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be an open network that anybody can use
freely<00:07:48.860><c> and</c><00:07:49.130><c> run</c><00:07:49.250><c> applications</c><00:07:49.820><c> and</c><00:07:50.060><c> transact</c>

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freely and run applications and transact
 

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freely and run applications and transact
value<00:07:51.580><c> any</c><00:07:52.580><c> aetherium</c><00:07:52.910><c> smart</c><00:07:53.150><c> contract</c><00:07:53.480><c> of</c>

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value any aetherium smart contract of
 

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value any aetherium smart contract of
course<00:07:53.780><c> is</c><00:07:53.930><c> completely</c><00:07:54.290><c> compatible</c><00:07:54.500><c> and</c><00:07:54.890><c> can</c>

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course is completely compatible and can
 

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course is completely compatible and can
run<00:07:55.250><c> on</c><00:07:55.370><c> the</c><00:07:55.460><c> energy</c><00:07:55.700><c> of</c><00:07:55.820><c> foundation</c>

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run on the energy of foundation
 

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run on the energy of foundation
blockchain<00:07:57.500><c> and</c><00:07:58.240><c> interchange</c><00:07:59.240><c> communication</c>

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blockchain and interchange communication
 

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blockchain and interchange communication
is<00:08:00.290><c> something</c><00:08:00.830><c> that</c><00:08:00.980><c> we're</c><00:08:01.310><c> very</c><00:08:01.340><c> much</c>

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is something that we're very much
 

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is something that we're very much
prioritizing<00:08:02.840><c> and</c><00:08:02.990><c> we</c><00:08:03.080><c> want</c><00:08:03.230><c> to</c><00:08:03.320><c> have</c><00:08:03.500><c> that</c>

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prioritizing and we want to have that
 

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prioritizing and we want to have that
coming<00:08:04.640><c> really</c><00:08:04.820><c> soon</c>

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coming really soon
 

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coming really soon
so<00:08:05.420><c> for</c><00:08:05.600><c> instance</c><00:08:05.720><c> projects</c><00:08:06.710><c> like</c><00:08:06.800><c> polka-dot</c>

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so for instance projects like polka-dot
 

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so for instance projects like polka-dot
will<00:08:07.730><c> be</c><00:08:07.910><c> very</c><00:08:08.270><c> high</c><00:08:08.390><c> on</c><00:08:08.420><c> our</c><00:08:08.600><c> list</c><00:08:08.780><c> to</c>

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will be very high on our list to
 

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will be very high on our list to
implements<00:08:09.290><c> that</c><00:08:09.350><c> way</c><00:08:09.530><c> we</c><00:08:09.680><c> can</c><00:08:10.030><c> interact</c><00:08:11.030><c> with</c>

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implements that way we can interact with
 

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implements that way we can interact with
the<00:08:11.690><c> etherion</c><00:08:12.050><c> public</c><00:08:12.350><c> blockchain</c><00:08:12.740><c> as</c><00:08:12.830><c> well</c><00:08:13.010><c> i</c>

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the etherion public blockchain as well i
 

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the etherion public blockchain as well i
think<00:08:14.600><c> i</c><00:08:14.900><c> just</c><00:08:15.050><c> want</c><00:08:15.200><c> to</c><00:08:15.230><c> reflect</c><00:08:15.410><c> on</c><00:08:15.710><c> a</c><00:08:15.740><c> way</c>

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think i just want to reflect on a way
 

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think i just want to reflect on a way
that<00:08:16.570><c> i'm</c><00:08:17.570><c> involved</c><00:08:17.960><c> in</c><00:08:18.170><c> this</c><00:08:18.260><c> mix</c><00:08:18.560><c> where</c><00:08:18.880><c> the</c>

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that i'm involved in this mix where the
 

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that i'm involved in this mix where the
project<00:08:20.210><c> that</c><00:08:20.270><c> we're</c><00:08:20.390><c> working</c><00:08:20.480><c> on</c><00:08:20.690><c> right</c><00:08:20.750><c> now</c>

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project that we're working on right now
 

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project that we're working on right now
is<00:08:21.260><c> called</c><00:08:21.590><c> the</c><00:08:21.680><c> aurora</c><00:08:21.950><c> network</c><00:08:22.340><c> and</c><00:08:22.580><c> what</c><00:08:22.670><c> it</c>

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is called the aurora network and what it
 

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is called the aurora network and what it
is<00:08:22.880><c> it's</c><00:08:23.060><c> an</c><00:08:23.180><c> open-source</c><00:08:23.540><c> hardware</c><00:08:24.290><c> project</c>

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is it's an open-source hardware project
 

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is it's an open-source hardware project
where<00:08:24.880><c> through</c><00:08:25.880><c> these</c><00:08:26.060><c> mechanisms</c><00:08:26.570><c> we're</c>

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where through these mechanisms we're
 

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where through these mechanisms we're
building<00:08:27.200><c> we</c><00:08:27.290><c> can</c><00:08:27.380><c> actually</c><00:08:27.680><c> deploy</c><00:08:28.150><c> hardware</c>

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building we can actually deploy hardware
 

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building we can actually deploy hardware
that's<00:08:29.300><c> innovative</c><00:08:29.750><c> and</c><00:08:30.050><c> otherwise</c><00:08:30.260><c> wouldn't</c>

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that's innovative and otherwise wouldn't
 

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that's innovative and otherwise wouldn't
find<00:08:30.740><c> funding</c><00:08:31.130><c> so</c><00:08:31.400><c> i've</c><00:08:31.700><c> got</c><00:08:31.850><c> a</c><00:08:31.910><c> really</c><00:08:32.090><c> good</c>

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find funding so i've got a really good
 

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find funding so i've got a really good
example<00:08:32.410><c> biomass</c><00:08:33.410><c> gasification</c>

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example biomass gasification
 

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example biomass gasification
particularly<00:08:34.700><c> small</c><00:08:35.090><c> scale</c><00:08:35.330><c> biomass</c>

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particularly small scale biomass
 

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particularly small scale biomass
gasification<00:08:36.280><c> classically</c><00:08:37.280><c> is</c><00:08:37.550><c> pretty</c><00:08:38.360><c> much</c>

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gasification classically is pretty much
 

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gasification classically is pretty much
unheard<00:08:38.870><c> of</c><00:08:39.050><c> unless</c><00:08:39.380><c> you're</c><00:08:39.500><c> on</c><00:08:39.560><c> a</c><00:08:39.620><c> commercial</c>

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unheard of unless you're on a commercial
 

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unheard of unless you're on a commercial
scale<00:08:40.070><c> and</c><00:08:40.750><c> when</c><00:08:41.750><c> you</c><00:08:41.990><c> look</c><00:08:42.229><c> at</c><00:08:42.440><c> the</c><00:08:42.860><c> way</c><00:08:43.010><c> in</c>

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scale and when you look at the way in
 

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scale and when you look at the way in
which<00:08:43.630><c> going</c><00:08:44.630><c> back</c><00:08:45.550><c> one</c><00:08:46.550><c> more</c><00:08:47.140><c> one</c><00:08:48.140><c> more</c><00:08:48.170><c> yeah</c>

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which going back one more one more yeah
 

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which going back one more one more yeah
-<00:08:49.100><c> this</c><00:08:49.250><c> -</c><00:08:49.580><c> this</c><00:08:49.730><c> whole</c><00:08:49.940><c> household</c><00:08:50.330><c> model</c><00:08:50.660><c> here</c>

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- this - this whole household model here
 

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- this - this whole household model here
when<00:08:51.530><c> you're</c><00:08:51.650><c> looking</c><00:08:52.040><c> at</c><00:08:52.310><c> for</c><00:08:52.700><c> example</c><00:08:52.730><c> soul</c>

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when you're looking at for example soul
 

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when you're looking at for example soul
there's<00:08:53.880><c> a</c><00:08:53.940><c> supply</c><00:08:54.240><c> demand</c><00:08:54.839><c> curve</c><00:08:55.200><c> of</c><00:08:55.500><c> which</c>

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there's a supply demand curve of which
 

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there's a supply demand curve of which
you've<00:08:55.890><c> got</c><00:08:56.040><c> say</c><00:08:56.279><c> this</c><00:08:56.610><c> massive</c><00:08:57.269><c> abundance</c><00:08:57.839><c> of</c>

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you've got say this massive abundance of
 

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you've got say this massive abundance of
solar<00:08:58.440><c> energy</c><00:08:58.470><c> during</c><00:08:58.980><c> the</c><00:08:59.130><c> day</c><00:08:59.450><c> currently</c>

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solar energy during the day currently
 

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solar energy during the day currently
not<00:09:00.720><c> sufficiently</c><00:09:01.380><c> deployed</c><00:09:02.149><c> storage</c>

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not sufficiently deployed storage
 

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not sufficiently deployed storage
batteries<00:09:03.600><c> to</c><00:09:03.779><c> take</c><00:09:03.959><c> that</c><00:09:04.140><c> power</c><00:09:04.410><c> offline</c><00:09:04.860><c> and</c>

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batteries to take that power offline and
 

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batteries to take that power offline and
our<00:09:06.959><c> usage</c><00:09:07.470><c> is</c><00:09:07.649><c> generally</c><00:09:08.160><c> out</c><00:09:08.279><c> of</c><00:09:08.399><c> whack</c><00:09:08.610><c> with</c>

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our usage is generally out of whack with
 

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our usage is generally out of whack with
that<00:09:08.970><c> like</c><00:09:09.180><c> we're</c><00:09:09.390><c> all</c><00:09:09.510><c> at</c><00:09:09.540><c> work</c><00:09:09.779><c> during</c><00:09:10.079><c> the</c>

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that like we're all at work during the
 

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that like we're all at work during the
day<00:09:10.230><c> the</c><00:09:10.649><c> majority</c><00:09:10.800><c> of</c><00:09:11.190><c> the</c><00:09:11.370><c> actual</c><00:09:11.700><c> power</c>

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day the majority of the actual power
 

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day the majority of the actual power
consumption<00:09:12.510><c> isn't</c><00:09:12.660><c> until</c><00:09:13.019><c> the</c><00:09:13.050><c> morning</c><00:09:13.440><c> or</c>

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consumption isn't until the morning or
 

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consumption isn't until the morning or
the<00:09:13.680><c> evening</c><00:09:13.709><c> you</c><00:09:14.490><c> get</c><00:09:14.670><c> this</c><00:09:14.790><c> dull</c><00:09:15.089><c> period</c><00:09:15.510><c> and</c>

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the evening you get this dull period and
 

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the evening you get this dull period and
we're<00:09:16.200><c> all</c><00:09:16.260><c> used</c><00:09:16.500><c> to</c><00:09:16.589><c> getting</c><00:09:16.829><c> cheap</c>

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we're all used to getting cheap
 

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we're all used to getting cheap
electricity<00:09:17.519><c> in</c><00:09:17.760><c> some</c><00:09:17.970><c> regions</c><00:09:18.360><c> through</c><00:09:18.570><c> the</c>

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electricity in some regions through the
 

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electricity in some regions through the
night<00:09:18.839><c> you</c><00:09:19.110><c> get</c><00:09:19.230><c> the</c><00:09:19.320><c> economy</c><00:09:19.800><c> saving</c><00:09:20.250><c> between</c>

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night you get the economy saving between
 

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night you get the economy saving between
like<00:09:20.640><c> 1</c><00:09:20.850><c> a.m.</c><00:09:21.029><c> 7:00</c><00:09:21.480><c> in</c><00:09:21.540><c> the</c><00:09:21.600><c> morning</c>

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like 1 a.m. 7:00 in the morning
 

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like 1 a.m. 7:00 in the morning
that's<00:09:22.350><c> because</c><00:09:22.529><c> big</c><00:09:22.920><c> power</c><00:09:23.190><c> stations</c><00:09:23.610><c> have</c>

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that's because big power stations have
 

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that's because big power stations have
to<00:09:24.060><c> keep</c><00:09:24.240><c> running</c><00:09:24.779><c> they</c><00:09:25.260><c> don't</c><00:09:25.470><c> just</c><00:09:25.680><c> shut</c>

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to keep running they don't just shut
 

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to keep running they don't just shut
down<00:09:25.950><c> because</c><00:09:26.519><c> shutting</c><00:09:26.940><c> down</c><00:09:27.180><c> costs</c><00:09:27.570><c> a</c><00:09:27.660><c> ton</c>

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down because shutting down costs a ton
 

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down because shutting down costs a ton
of<00:09:27.870><c> money</c><00:09:28.079><c> so</c><00:09:28.829><c> by</c><00:09:28.950><c> implementing</c><00:09:29.399><c> this</c><00:09:29.640><c> system</c>

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of money so by implementing this system
 

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of money so by implementing this system
whereby<00:09:30.240><c> you</c><00:09:31.110><c> can</c><00:09:31.260><c> take</c><00:09:31.500><c> energy</c><00:09:32.010><c> as</c><00:09:32.190><c> and</c><00:09:32.490><c> when</c>

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whereby you can take energy as and when
 

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whereby you can take energy as and when
it's<00:09:32.730><c> needed</c><00:09:33.180><c> from</c><00:09:33.390><c> core</c><00:09:33.660><c> parts</c><00:09:34.140><c> and</c>

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it's needed from core parts and
 

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it's needed from core parts and
understand<00:09:35.339><c> what</c><00:09:35.640><c> equipment</c><00:09:35.940><c> you</c><00:09:36.209><c> can</c><00:09:36.360><c> bring</c>

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understand what equipment you can bring
 

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understand what equipment you can bring
online<00:09:36.720><c> and</c><00:09:37.140><c> when</c><00:09:37.320><c> so</c><00:09:37.649><c> for</c><00:09:38.100><c> example</c><00:09:38.820><c> in</c><00:09:39.000><c> the</c>

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online and when so for example in the
 

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online and when so for example in the
time<00:09:39.360><c> of</c><00:09:39.570><c> high</c><00:09:39.720><c> demand</c><00:09:40.100><c> you</c><00:09:41.100><c> have</c><00:09:41.310><c> a</c><00:09:41.339><c> bit</c><00:09:41.550><c> of</c>

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time of high demand you have a bit of
 

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time of high demand you have a bit of
equipment<00:09:41.880><c> that</c><00:09:42.240><c> would</c><00:09:42.300><c> otherwise</c><00:09:42.510><c> cost</c><00:09:43.110><c> more</c>

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equipment that would otherwise cost more
 

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equipment that would otherwise cost more
to<00:09:43.500><c> run</c><00:09:43.769><c> or</c><00:09:44.370><c> more</c><00:09:45.060><c> to</c><00:09:45.240><c> cut</c><00:09:45.510><c> like</c><00:09:45.720><c> produce</c><00:09:46.200><c> a</c>

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to run or more to cut like produce a
 

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to run or more to cut like produce a
unit<00:09:46.649><c> of</c><00:09:46.769><c> energy</c><00:09:46.920><c> that</c><00:09:47.640><c> may</c><00:09:47.850><c> come</c><00:09:48.180><c> on</c><00:09:48.360><c> in</c><00:09:48.630><c> these</c>

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unit of energy that may come on in these
 

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unit of energy that may come on in these
times<00:09:49.110><c> of</c><00:09:49.350><c> high</c><00:09:49.529><c> demand</c><00:09:49.800><c> and</c><00:09:50.279><c> you</c><00:09:50.459><c> may</c><00:09:50.610><c> have</c><00:09:50.790><c> a</c>

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times of high demand and you may have a
 

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times of high demand and you may have a
variable<00:09:51.240><c> pricing</c><00:09:51.750><c> model</c><00:09:52.019><c> for</c><00:09:52.170><c> that</c><00:09:52.320><c> so</c><00:09:52.890><c> that</c>

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variable pricing model for that so that
 

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variable pricing model for that so that
energy<00:09:53.430><c> can</c><00:09:53.760><c> be</c><00:09:53.940><c> used</c><00:09:54.180><c> and</c><00:09:54.300><c> acquired</c><00:09:54.690><c> and</c><00:09:54.990><c> sort</c>

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energy can be used and acquired and sort
 

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energy can be used and acquired and sort
of<00:09:55.380><c> leveled</c><00:09:56.310><c> across</c><00:09:56.640><c> the</c><00:09:56.820><c> network</c><00:09:57.180><c> but</c><00:09:57.870><c> you're</c>

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of leveled across the network but you're
 

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of leveled across the network but you're
effectively<00:09:58.440><c> smooth</c><00:09:58.920><c> and</c><00:09:59.250><c> this</c><00:09:59.339><c> is</c><00:09:59.459><c> like</c><00:09:59.610><c> a</c>

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effectively smooth and this is like a
 

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effectively smooth and this is like a
smart<00:10:00.120><c> grid</c><00:10:00.300><c> effect</c><00:10:00.630><c> so</c><00:10:00.750><c> all</c><00:10:00.930><c> of</c><00:10:01.019><c> these</c>

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smart grid effect so all of these
 

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smart grid effect so all of these
companies<00:10:01.529><c> are</c><00:10:01.680><c> kind</c><00:10:01.949><c> of</c><00:10:02.040><c> moving</c><00:10:02.279><c> towards</c>

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companies are kind of moving towards
 

00:10:02.430 --> 00:10:04.519 align:start position:0%
companies are kind of moving towards
this<00:10:02.790><c> more</c><00:10:03.029><c> smart</c><00:10:03.420><c> grid</c><00:10:03.630><c> and</c><00:10:03.899><c> again</c><00:10:04.380><c> this</c>

00:10:04.519 --> 00:10:04.529 align:start position:0%
this more smart grid and again this
 

00:10:04.529 --> 00:10:06.410 align:start position:0%
this more smart grid and again this
vision<00:10:05.010><c> of</c><00:10:05.100><c> a</c><00:10:05.220><c> more</c><00:10:05.370><c> distributed</c><00:10:06.209><c> power</c>

00:10:06.410 --> 00:10:06.420 align:start position:0%
vision of a more distributed power
 

00:10:06.420 --> 00:10:09.590 align:start position:0%
vision of a more distributed power
network<00:10:07.100><c> this</c><00:10:08.100><c> beautifully</c><00:10:08.940><c> supports</c><00:10:09.390><c> that</c>

00:10:09.590 --> 00:10:09.600 align:start position:0%
network this beautifully supports that
 

00:10:09.600 --> 00:10:11.360 align:start position:0%
network this beautifully supports that
when<00:10:10.589><c> you're</c><00:10:10.709><c> actually</c><00:10:10.800><c> looking</c><00:10:11.279><c> at</c>

00:10:11.360 --> 00:10:11.370 align:start position:0%
when you're actually looking at
 

00:10:11.370 --> 00:10:14.000 align:start position:0%
when you're actually looking at
tokenizing<00:10:11.970><c> for</c><00:10:12.300><c> example</c><00:10:12.720><c> the</c><00:10:13.500><c> energy</c><00:10:13.860><c> on</c><00:10:13.980><c> the</c>

00:10:14.000 --> 00:10:14.010 align:start position:0%
tokenizing for example the energy on the
 

00:10:14.010 --> 00:10:16.040 align:start position:0%
tokenizing for example the energy on the
network<00:10:14.430><c> you</c><00:10:14.970><c> need</c><00:10:15.149><c> a</c><00:10:15.180><c> high</c><00:10:15.480><c> transaction</c>

00:10:16.040 --> 00:10:16.050 align:start position:0%
network you need a high transaction
 

00:10:16.050 --> 00:10:18.259 align:start position:0%
network you need a high transaction
throughput<00:10:16.709><c> to</c><00:10:16.829><c> do</c><00:10:16.980><c> that</c><00:10:17.190><c> the</c><00:10:17.699><c> rate</c><00:10:18.060><c> and</c>

00:10:18.259 --> 00:10:18.269 align:start position:0%
throughput to do that the rate and
 

00:10:18.269 --> 00:10:19.610 align:start position:0%
throughput to do that the rate and
volume<00:10:18.540><c> of</c><00:10:18.899><c> which</c><00:10:19.079><c> you're</c><00:10:19.260><c> planning</c><00:10:19.560><c> on</c>

00:10:19.610 --> 00:10:19.620 align:start position:0%
volume of which you're planning on
 

00:10:19.620 --> 00:10:21.439 align:start position:0%
volume of which you're planning on
scaling<00:10:20.160><c> to</c><00:10:20.310><c> to</c><00:10:20.490><c> make</c><00:10:20.640><c> this</c><00:10:20.820><c> be</c><00:10:21.089><c> a</c><00:10:21.120><c> very</c>

00:10:21.439 --> 00:10:21.449 align:start position:0%
scaling to to make this be a very
 

00:10:21.449 --> 00:10:24.380 align:start position:0%
scaling to to make this be a very
impactful<00:10:22.370><c> global</c><00:10:23.370><c> sort</c><00:10:23.699><c> of</c><00:10:23.790><c> infrastructure</c>

00:10:24.380 --> 00:10:24.390 align:start position:0%
impactful global sort of infrastructure
 

00:10:24.390 --> 00:10:26.930 align:start position:0%
impactful global sort of infrastructure
that<00:10:24.480><c> allows</c><00:10:24.779><c> this</c><00:10:25.560><c> transfer</c><00:10:26.220><c> of</c><00:10:26.339><c> value</c><00:10:26.370><c> and</c>

00:10:26.930 --> 00:10:26.940 align:start position:0%
that allows this transfer of value and
 

00:10:26.940 --> 00:10:29.689 align:start position:0%
that allows this transfer of value and
flow<00:10:27.570><c> of</c><00:10:27.930><c> markets</c><00:10:28.589><c> globally</c><00:10:29.100><c> so</c><00:10:29.310><c> you</c><00:10:29.370><c> can</c><00:10:29.550><c> take</c>

00:10:29.689 --> 00:10:29.699 align:start position:0%
flow of markets globally so you can take
 

00:10:29.699 --> 00:10:32.449 align:start position:0%
flow of markets globally so you can take
abundance<00:10:30.329><c> in</c><00:10:30.510><c> one</c><00:10:30.690><c> area</c><00:10:30.930><c> and</c><00:10:31.230><c> maybe</c><00:10:31.949><c> deploy</c>

00:10:32.449 --> 00:10:32.459 align:start position:0%
abundance in one area and maybe deploy
 

00:10:32.459 --> 00:10:34.370 align:start position:0%
abundance in one area and maybe deploy
that<00:10:32.730><c> in</c><00:10:32.820><c> an</c><00:10:32.910><c> area</c><00:10:33.209><c> where</c><00:10:33.390><c> there</c><00:10:33.839><c> may</c><00:10:34.050><c> not</c><00:10:34.199><c> be</c>

00:10:34.370 --> 00:10:34.380 align:start position:0%
that in an area where there may not be
 

00:10:34.380 --> 00:10:36.259 align:start position:0%
that in an area where there may not be
the<00:10:34.589><c> infrastructure</c><00:10:35.279><c> or</c><00:10:35.399><c> the</c><00:10:35.430><c> actual</c><00:10:35.699><c> drive</c>

00:10:36.259 --> 00:10:36.269 align:start position:0%
the infrastructure or the actual drive
 

00:10:36.269 --> 00:10:38.780 align:start position:0%
the infrastructure or the actual drive
to<00:10:36.570><c> develop</c><00:10:36.990><c> in</c><00:10:37.140><c> an</c><00:10:37.260><c> african</c><00:10:37.709><c> community</c><00:10:38.610><c> for</c>

00:10:38.780 --> 00:10:38.790 align:start position:0%
to develop in an african community for
 

00:10:38.790 --> 00:10:41.420 align:start position:0%
to develop in an african community for
example<00:10:38.880><c> so</c><00:10:39.420><c> California</c><00:10:40.260><c> is</c><00:10:40.589><c> a</c><00:10:40.649><c> great</c><00:10:40.890><c> example</c>

00:10:41.420 --> 00:10:41.430 align:start position:0%
example so California is a great example
 

00:10:41.430 --> 00:10:43.850 align:start position:0%
example so California is a great example
California<00:10:42.269><c> there</c><00:10:42.930><c> is</c><00:10:43.019><c> an</c><00:10:43.110><c> abundance</c><00:10:43.529><c> of</c><00:10:43.649><c> wall</c>

00:10:43.850 --> 00:10:43.860 align:start position:0%
California there is an abundance of wall
 

00:10:43.860 --> 00:10:47.060 align:start position:0%
California there is an abundance of wall
nutshells<00:10:44.310><c> that</c><00:10:45.300><c> are</c><00:10:45.390><c> supplied</c><00:10:45.750><c> by</c><00:10:46.070><c> walnut</c>

00:10:47.060 --> 00:10:47.070 align:start position:0%
nutshells that are supplied by walnut
 

00:10:47.070 --> 00:10:49.430 align:start position:0%
nutshells that are supplied by walnut
manufacturing<00:10:47.640><c> companies</c><00:10:48.000><c> so</c><00:10:48.779><c> where</c><00:10:49.260><c> do</c><00:10:49.320><c> they</c>

00:10:49.430 --> 00:10:49.440 align:start position:0%
manufacturing companies so where do they
 

00:10:49.440 --> 00:10:51.050 align:start position:0%
manufacturing companies so where do they
go<00:10:49.589><c> right</c><00:10:49.829><c> now</c><00:10:49.949><c> those</c><00:10:50.279><c> walnut</c><00:10:50.670><c> shells</c><00:10:50.880><c> are</c>

00:10:51.050 --> 00:10:51.060 align:start position:0%
go right now those walnut shells are
 

00:10:51.060 --> 00:10:53.030 align:start position:0%
go right now those walnut shells are
dumped<00:10:51.390><c> or</c><00:10:51.540><c> burned</c><00:10:51.779><c> there</c><00:10:52.050><c> is</c><00:10:52.140><c> no</c><00:10:52.320><c> value</c><00:10:52.649><c> being</c>

00:10:53.030 --> 00:10:53.040 align:start position:0%
dumped or burned there is no value being
 

00:10:53.040 --> 00:10:55.670 align:start position:0%
dumped or burned there is no value being
created<00:10:53.519><c> by</c><00:10:53.699><c> that</c><00:10:53.850><c> by-product</c><00:10:54.449><c> so</c><00:10:55.290><c> take</c><00:10:55.529><c> those</c>

00:10:55.670 --> 00:10:55.680 align:start position:0%
created by that by-product so take those
 

00:10:55.680 --> 00:10:57.050 align:start position:0%
created by that by-product so take those
walnuts<00:10:56.070><c> shells</c><00:10:56.339><c> put</c><00:10:56.880><c> them</c><00:10:57.029><c> through</c>

00:10:57.050 --> 00:10:57.060 align:start position:0%
walnuts shells put them through
 

00:10:57.060 --> 00:10:59.689 align:start position:0%
walnuts shells put them through
something<00:10:57.570><c> like</c><00:10:57.600><c> a</c><00:10:57.750><c> gasifier</c><00:10:58.199><c> on</c><00:10:58.649><c> site</c><00:10:58.980><c> have</c><00:10:59.670><c> a</c>

00:10:59.689 --> 00:10:59.699 align:start position:0%
something like a gasifier on site have a
 

00:10:59.699 --> 00:11:01.790 align:start position:0%
something like a gasifier on site have a
grid<00:11:00.029><c> tie</c><00:11:00.240><c> tie</c><00:11:01.050><c> that</c><00:11:01.170><c> back</c><00:11:01.350><c> to</c><00:11:01.500><c> the</c><00:11:01.589><c> network</c>

00:11:01.790 --> 00:11:01.800 align:start position:0%
grid tie tie that back to the network
 

00:11:01.800 --> 00:11:03.889 align:start position:0%
grid tie tie that back to the network
and<00:11:02.220><c> actually</c><00:11:02.910><c> use</c><00:11:03.209><c> that</c><00:11:03.390><c> energy</c><00:11:03.540><c> in</c><00:11:03.810><c> a</c><00:11:03.870><c> way</c>

00:11:03.889 --> 00:11:03.899 align:start position:0%
and actually use that energy in a way
 

00:11:03.899 --> 00:11:05.480 align:start position:0%
and actually use that energy in a way
where<00:11:04.230><c> you</c><00:11:04.319><c> can</c><00:11:04.350><c> either</c><00:11:04.560><c> sell</c><00:11:04.890><c> that</c><00:11:05.010><c> directly</c>

00:11:05.480 --> 00:11:05.490 align:start position:0%
where you can either sell that directly
 

00:11:05.490 --> 00:11:07.550 align:start position:0%
where you can either sell that directly
to<00:11:05.610><c> a</c><00:11:05.640><c> consumer</c><00:11:06.240><c> using</c><00:11:06.510><c> your</c><00:11:06.630><c> tokenized</c>

00:11:07.550 --> 00:11:07.560 align:start position:0%
to a consumer using your tokenized
 

00:11:07.560 --> 00:11:09.080 align:start position:0%
to a consumer using your tokenized
and<00:11:07.650><c> link</c><00:11:07.920><c> that</c><00:11:07.980><c> with</c><00:11:08.250><c> more</c><00:11:08.460><c> of</c><00:11:08.580><c> the</c><00:11:08.700><c> smart</c>

00:11:09.080 --> 00:11:09.090 align:start position:0%
and link that with more of the smart
 

00:11:09.090 --> 00:11:11.510 align:start position:0%
and link that with more of the smart
meters<00:11:09.180><c> were</c><00:11:09.600><c> seeing</c><00:11:09.980><c> like</c><00:11:10.980><c> there</c><00:11:11.340><c> are</c><00:11:11.430><c> these</c>

00:11:11.510 --> 00:11:11.520 align:start position:0%
meters were seeing like there are these
 

00:11:11.520 --> 00:11:13.430 align:start position:0%
meters were seeing like there are these
inductive<00:11:12.210><c> smart</c><00:11:12.510><c> meters</c><00:11:12.840><c> where</c><00:11:13.020><c> you</c><00:11:13.110><c> clamp</c>

00:11:13.430 --> 00:11:13.440 align:start position:0%
inductive smart meters where you clamp
 

00:11:13.440 --> 00:11:15.740 align:start position:0%
inductive smart meters where you clamp
them<00:11:13.650><c> onto</c><00:11:13.800><c> your</c><00:11:14.370><c> incoming</c><00:11:15.270><c> feed</c><00:11:15.480><c> of</c><00:11:15.600><c> your</c>

00:11:15.740 --> 00:11:15.750 align:start position:0%
them onto your incoming feed of your
 

00:11:15.750 --> 00:11:17.450 align:start position:0%
them onto your incoming feed of your
house<00:11:15.930><c> and</c><00:11:16.170><c> it</c><00:11:16.290><c> will</c><00:11:16.410><c> do</c><00:11:16.830><c> a</c><00:11:16.860><c> Fourier</c><00:11:17.190><c> transform</c>

00:11:17.450 --> 00:11:17.460 align:start position:0%
house and it will do a Fourier transform
 

00:11:17.460 --> 00:11:19.520 align:start position:0%
house and it will do a Fourier transform
on<00:11:17.880><c> your</c><00:11:18.000><c> frequencies</c><00:11:18.810><c> of</c><00:11:19.050><c> your</c><00:11:19.140><c> energy</c><00:11:19.440><c> and</c>

00:11:19.520 --> 00:11:19.530 align:start position:0%
on your frequencies of your energy and
 

00:11:19.530 --> 00:11:21.350 align:start position:0%
on your frequencies of your energy and
it<00:11:19.590><c> will</c><00:11:19.680><c> tell</c><00:11:19.830><c> you</c><00:11:19.950><c> after</c><00:11:20.370><c> about</c><00:11:20.730><c> a</c><00:11:20.850><c> month</c><00:11:21.090><c> of</c>

00:11:21.350 --> 00:11:21.360 align:start position:0%
it will tell you after about a month of
 

00:11:21.360 --> 00:11:23.900 align:start position:0%
it will tell you after about a month of
learning<00:11:21.780><c> your</c><00:11:22.020><c> fridges</c><00:11:22.560><c> using</c><00:11:22.950><c> 60%</c><00:11:23.460><c> of</c><00:11:23.850><c> the</c>

00:11:23.900 --> 00:11:23.910 align:start position:0%
learning your fridges using 60% of the
 

00:11:23.910 --> 00:11:27.260 align:start position:0%
learning your fridges using 60% of the
power<00:11:24.120><c> your</c><00:11:25.220><c> toaster</c><00:11:26.220><c> is</c><00:11:26.340><c> using</c><00:11:26.730><c> 0.1%</c>

00:11:27.260 --> 00:11:27.270 align:start position:0%
power your toaster is using 0.1%
 

00:11:27.270 --> 00:11:29.600 align:start position:0%
power your toaster is using 0.1%
whatever<00:11:27.990><c> that</c><00:11:28.170><c> mix</c><00:11:28.410><c> looks</c><00:11:28.710><c> like</c><00:11:28.980><c> and</c><00:11:29.400><c> if</c><00:11:29.520><c> you</c>

00:11:29.600 --> 00:11:29.610 align:start position:0%
whatever that mix looks like and if you
 

00:11:29.610 --> 00:11:31.450 align:start position:0%
whatever that mix looks like and if you
analyze<00:11:29.820><c> that</c><00:11:30.060><c> data</c><00:11:30.270><c> you</c><00:11:30.660><c> can</c><00:11:30.780><c> actually</c><00:11:30.900><c> start</c>

00:11:31.450 --> 00:11:31.460 align:start position:0%
analyze that data you can actually start
 

00:11:31.460 --> 00:11:34.070 align:start position:0%
analyze that data you can actually start
incentivizing<00:11:32.490><c> good</c><00:11:33.060><c> actors</c><00:11:33.480><c> in</c><00:11:33.600><c> the</c><00:11:33.720><c> system</c>

00:11:34.070 --> 00:11:34.080 align:start position:0%
incentivizing good actors in the system
 

00:11:34.080 --> 00:11:36.500 align:start position:0%
incentivizing good actors in the system
so<00:11:34.530><c> I</c><00:11:34.800><c> can</c><00:11:35.130><c> make</c><00:11:35.490><c> an</c><00:11:35.610><c> assessment</c><00:11:36.150><c> of</c><00:11:36.210><c> what</c><00:11:36.360><c> the</c>

00:11:36.500 --> 00:11:36.510 align:start position:0%
so I can make an assessment of what the
 

00:11:36.510 --> 00:11:38.810 align:start position:0%
so I can make an assessment of what the
usage<00:11:36.900><c> in</c><00:11:37.020><c> this</c><00:11:37.170><c> house</c><00:11:37.350><c> should</c><00:11:37.590><c> be</c><00:11:37.740><c> if</c><00:11:38.400><c> an</c>

00:11:38.810 --> 00:11:38.820 align:start position:0%
usage in this house should be if an
 

00:11:38.820 --> 00:11:41.240 align:start position:0%
usage in this house should be if an
actor<00:11:39.540><c> is</c><00:11:39.660><c> overusing</c><00:11:40.350><c> that</c><00:11:40.470><c> they</c><00:11:40.680><c> pay</c><00:11:40.920><c> a</c><00:11:40.950><c> fee</c>

00:11:41.240 --> 00:11:41.250 align:start position:0%
actor is overusing that they pay a fee
 

00:11:41.250 --> 00:11:43.550 align:start position:0%
actor is overusing that they pay a fee
if<00:11:41.970><c> an</c><00:11:42.090><c> actor</c><00:11:42.300><c> is</c><00:11:42.390><c> under</c><00:11:42.780><c> using</c><00:11:43.170><c> and</c><00:11:43.320><c> coming</c>

00:11:43.550 --> 00:11:43.560 align:start position:0%
if an actor is under using and coming
 

00:11:43.560 --> 00:11:45.230 align:start position:0%
if an actor is under using and coming
below<00:11:43.710><c> a</c><00:11:43.890><c> threshold</c><00:11:44.130><c> they</c><00:11:44.700><c> get</c><00:11:44.850><c> paid</c><00:11:45.060><c> that</c>

00:11:45.230 --> 00:11:45.240 align:start position:0%
below a threshold they get paid that
 

00:11:45.240 --> 00:11:46.670 align:start position:0%
below a threshold they get paid that
back<00:11:45.450><c> so</c><00:11:46.140><c> you're</c><00:11:46.260><c> not</c><00:11:46.290><c> just</c><00:11:46.530><c> the</c>

00:11:46.670 --> 00:11:46.680 align:start position:0%
back so you're not just the
 

00:11:46.680 --> 00:11:48.110 align:start position:0%
back so you're not just the
incentivizing<00:11:47.400><c> smarter</c><00:11:47.940><c> energy</c>

00:11:48.110 --> 00:11:48.120 align:start position:0%
incentivizing smarter energy
 

00:11:48.120 --> 00:11:50.630 align:start position:0%
incentivizing smarter energy
distribution<00:11:48.660><c> you're</c><00:11:49.530><c> incentivizing</c><00:11:49.890><c> good</c>

00:11:50.630 --> 00:11:50.640 align:start position:0%
distribution you're incentivizing good
 

00:11:50.640 --> 00:11:52.910 align:start position:0%
distribution you're incentivizing good
behavior<00:11:51.270><c> your</c><00:11:51.990><c> assent</c><00:11:52.260><c> advising</c><00:11:52.710><c> better</c>

00:11:52.910 --> 00:11:52.920 align:start position:0%
behavior your assent advising better
 

00:11:52.920 --> 00:11:54.800 align:start position:0%
behavior your assent advising better
practice<00:11:53.370><c> on</c><00:11:53.490><c> the</c><00:11:53.580><c> network</c><00:11:53.910><c> whereby</c><00:11:54.330><c> the</c>

00:11:54.800 --> 00:11:54.810 align:start position:0%
practice on the network whereby the
 

00:11:54.810 --> 00:11:56.840 align:start position:0%
practice on the network whereby the
participants<00:11:55.470><c> contribute</c><00:11:56.160><c> overall</c><00:11:56.670><c> to</c><00:11:56.820><c> a</c>

00:11:56.840 --> 00:11:56.850 align:start position:0%
participants contribute overall to a
 

00:11:56.850 --> 00:11:58.970 align:start position:0%
participants contribute overall to a
lower<00:11:57.150><c> demand</c><00:11:57.570><c> and</c><00:11:57.870><c> that's</c><00:11:58.410><c> done</c><00:11:58.650><c> in</c><00:11:58.680><c> like</c><00:11:58.950><c> a</c>

00:11:58.970 --> 00:11:58.980 align:start position:0%
lower demand and that's done in like a
 

00:11:58.980 --> 00:12:02.030 align:start position:0%
lower demand and that's done in like a
fluid<00:11:59.490><c> and</c><00:11:59.820><c> organic</c><00:12:00.270><c> way</c><00:12:00.680><c> because</c><00:12:01.680><c> everything</c>

00:12:02.030 --> 00:12:02.040 align:start position:0%
fluid and organic way because everything
 

00:12:02.040 --> 00:12:03.920 align:start position:0%
fluid and organic way because everything
is<00:12:02.160><c> so</c><00:12:02.280><c> static</c><00:12:02.550><c> right</c><00:12:02.850><c> now</c><00:12:03.060><c> for</c><00:12:03.330><c> instance</c><00:12:03.450><c> in</c>

00:12:03.920 --> 00:12:03.930 align:start position:0%
is so static right now for instance in
 

00:12:03.930 --> 00:12:05.780 align:start position:0%
is so static right now for instance in
California<00:12:04.170><c> sometimes</c><00:12:05.040><c> their</c><00:12:05.250><c> events</c><00:12:05.610><c> where</c>

00:12:05.780 --> 00:12:05.790 align:start position:0%
California sometimes their events where
 

00:12:05.790 --> 00:12:07.520 align:start position:0%
California sometimes their events where
in<00:12:05.880><c> the</c><00:12:05.970><c> middle</c><00:12:06.150><c> of</c><00:12:06.240><c> the</c><00:12:06.360><c> day</c><00:12:06.480><c> on</c><00:12:06.630><c> a</c><00:12:06.660><c> hot</c><00:12:07.290><c> summer</c>

00:12:07.520 --> 00:12:07.530 align:start position:0%
in the middle of the day on a hot summer
 

00:12:07.530 --> 00:12:08.930 align:start position:0%
in the middle of the day on a hot summer
day<00:12:07.620><c> there's</c><00:12:07.920><c> a</c><00:12:07.980><c> bunch</c><00:12:08.280><c> of</c><00:12:08.400><c> abundance</c><00:12:08.820><c> of</c>

00:12:08.930 --> 00:12:08.940 align:start position:0%
day there's a bunch of abundance of
 

00:12:08.940 --> 00:12:10.580 align:start position:0%
day there's a bunch of abundance of
solar<00:12:09.150><c> power</c><00:12:09.390><c> that</c><00:12:09.720><c> the</c><00:12:09.810><c> market</c><00:12:10.110><c> just</c><00:12:10.290><c> doesn't</c>

00:12:10.580 --> 00:12:10.590 align:start position:0%
solar power that the market just doesn't
 

00:12:10.590 --> 00:12:12.860 align:start position:0%
solar power that the market just doesn't
need<00:12:10.790><c> the</c><00:12:11.790><c> rest</c><00:12:11.940><c> of</c><00:12:12.060><c> the</c><00:12:12.150><c> resources</c><00:12:12.690><c> are</c><00:12:12.840><c> not</c>

00:12:12.860 --> 00:12:12.870 align:start position:0%
need the rest of the resources are not
 

00:12:12.870 --> 00:12:14.570 align:start position:0%
need the rest of the resources are not
flexible<00:12:13.380><c> so</c><00:12:13.710><c> they're</c><00:12:13.830><c> not</c><00:12:13.950><c> able</c><00:12:14.070><c> to</c><00:12:14.220><c> ramp</c>

00:12:14.570 --> 00:12:14.580 align:start position:0%
flexible so they're not able to ramp
 

00:12:14.580 --> 00:12:16.220 align:start position:0%
flexible so they're not able to ramp
down<00:12:14.730><c> production</c><00:12:14.970><c> fast</c><00:12:15.450><c> enough</c><00:12:15.720><c> to</c><00:12:15.870><c> actually</c>

00:12:16.220 --> 00:12:16.230 align:start position:0%
down production fast enough to actually
 

00:12:16.230 --> 00:12:18.440 align:start position:0%
down production fast enough to actually
utilize<00:12:16.470><c> the</c><00:12:16.860><c> solar</c><00:12:17.070><c> energy</c><00:12:17.460><c> so</c><00:12:18.060><c> the</c><00:12:18.240><c> utility</c>

00:12:18.440 --> 00:12:18.450 align:start position:0%
utilize the solar energy so the utility
 

00:12:18.450 --> 00:12:20.210 align:start position:0%
utilize the solar energy so the utility
companies<00:12:18.990><c> sometimes</c><00:12:19.260><c> ask</c><00:12:19.710><c> the</c><00:12:20.010><c> solar</c>

00:12:20.210 --> 00:12:20.220 align:start position:0%
companies sometimes ask the solar
 

00:12:20.220 --> 00:12:22.430 align:start position:0%
companies sometimes ask the solar
producers<00:12:20.550><c> to</c><00:12:20.970><c> turn</c><00:12:21.180><c> off</c><00:12:21.360><c> their</c><00:12:21.600><c> panels</c><00:12:21.930><c> so</c>

00:12:22.430 --> 00:12:22.440 align:start position:0%
producers to turn off their panels so
 

00:12:22.440 --> 00:12:24.560 align:start position:0%
producers to turn off their panels so
that<00:12:22.560><c> way</c><00:12:22.680><c> the</c><00:12:22.830><c> abundance</c><00:12:23.400><c> of</c><00:12:23.520><c> of</c><00:12:23.820><c> electrons</c>

00:12:24.560 --> 00:12:24.570 align:start position:0%
that way the abundance of of electrons
 

00:12:24.570 --> 00:12:27.260 align:start position:0%
that way the abundance of of electrons
don't<00:12:24.720><c> flood</c><00:12:25.020><c> the</c><00:12:25.170><c> network</c><00:12:25.580><c> and</c><00:12:26.580><c> so</c><00:12:27.030><c> this</c><00:12:27.150><c> is</c>

00:12:27.260 --> 00:12:27.270 align:start position:0%
don't flood the network and so this is
 

00:12:27.270 --> 00:12:29.810 align:start position:0%
don't flood the network and so this is
obviously<00:12:27.480><c> a</c><00:12:27.810><c> huge</c><00:12:27.900><c> waste</c><00:12:28.290><c> and</c><00:12:28.560><c> not</c><00:12:29.370><c> effective</c>

00:12:29.810 --> 00:12:29.820 align:start position:0%
obviously a huge waste and not effective
 

00:12:29.820 --> 00:12:31.900 align:start position:0%
obviously a huge waste and not effective
utilization<00:12:30.390><c> of</c><00:12:30.510><c> our</c><00:12:30.630><c> solar</c><00:12:31.050><c> industry</c><00:12:31.530><c> so</c>

00:12:31.900 --> 00:12:31.910 align:start position:0%
utilization of our solar industry so
 

00:12:31.910 --> 00:12:35.150 align:start position:0%
utilization of our solar industry so
yeah<00:12:32.910><c> basically</c><00:12:33.360><c> enabling</c><00:12:34.110><c> the</c><00:12:34.350><c> all</c><00:12:34.800><c> the</c>

00:12:35.150 --> 00:12:35.160 align:start position:0%
yeah basically enabling the all the
 

00:12:35.160 --> 00:12:36.470 align:start position:0%
yeah basically enabling the all the
resources<00:12:35.640><c> on</c><00:12:35.760><c> the</c><00:12:35.850><c> network</c><00:12:35.880><c> to</c><00:12:36.210><c> be</c><00:12:36.300><c> a</c><00:12:36.330><c> lot</c>

00:12:36.470 --> 00:12:36.480 align:start position:0%
resources on the network to be a lot
 

00:12:36.480 --> 00:12:38.300 align:start position:0%
resources on the network to be a lot
more<00:12:36.510><c> flexible</c><00:12:36.750><c> will</c><00:12:37.260><c> enable</c><00:12:37.470><c> a</c><00:12:37.620><c> much</c><00:12:38.010><c> higher</c>

00:12:38.300 --> 00:12:38.310 align:start position:0%
more flexible will enable a much higher
 

00:12:38.310 --> 00:12:41.180 align:start position:0%
more flexible will enable a much higher
utilization<00:12:38.700><c> of</c><00:12:39.390><c> all</c><00:12:40.110><c> the</c><00:12:40.320><c> electricity</c><00:12:40.890><c> we're</c>

00:12:41.180 --> 00:12:41.190 align:start position:0%
utilization of all the electricity we're
 

00:12:41.190 --> 00:12:42.560 align:start position:0%
utilization of all the electricity we're
generating<00:12:41.460><c> from</c><00:12:41.670><c> renewables</c><00:12:42.090><c> especially</c>

00:12:42.560 --> 00:12:42.570 align:start position:0%
generating from renewables especially
 

00:12:42.570 --> 00:12:45.080 align:start position:0%
generating from renewables especially
especially<00:12:43.020><c> the</c><00:12:43.110><c> ones</c><00:12:43.260><c> that</c><00:12:43.440><c> vary</c><00:12:43.910><c> yeah</c><00:12:44.910><c> and</c><00:12:45.030><c> I</c>

00:12:45.080 --> 00:12:45.090 align:start position:0%
especially the ones that vary yeah and I
 

00:12:45.090 --> 00:12:47.240 align:start position:0%
especially the ones that vary yeah and I
think<00:12:45.270><c> this</c><00:12:45.360><c> vision</c><00:12:45.750><c> as</c><00:12:45.900><c> well</c><00:12:46.110><c> for</c><00:12:46.530><c> the</c><00:12:47.040><c> more</c>

00:12:47.240 --> 00:12:47.250 align:start position:0%
think this vision as well for the more
 

00:12:47.250 --> 00:12:50.300 align:start position:0%
think this vision as well for the more
IOT<00:12:47.820><c> connected</c><00:12:48.570><c> sort</c><00:12:48.870><c> of</c><00:12:48.960><c> states</c><00:12:49.260><c> so</c><00:12:49.470><c> where</c>

00:12:50.300 --> 00:12:50.310 align:start position:0%
IOT connected sort of states so where
 

00:12:50.310 --> 00:12:52.400 align:start position:0%
IOT connected sort of states so where
you<00:12:50.430><c> have</c><00:12:50.670><c> these</c><00:12:50.880><c> feedback</c><00:12:51.390><c> mechanisms</c><00:12:52.020><c> into</c>

00:12:52.400 --> 00:12:52.410 align:start position:0%
you have these feedback mechanisms into
 

00:12:52.410 --> 00:12:54.260 align:start position:0%
you have these feedback mechanisms into
a<00:12:52.440><c> smart</c><00:12:52.830><c> grid</c><00:12:53.070><c> where</c><00:12:53.730><c> it</c><00:12:53.790><c> understands</c>

00:12:54.260 --> 00:12:54.270 align:start position:0%
a smart grid where it understands
 

00:12:54.270 --> 00:12:56.410 align:start position:0%
a smart grid where it understands
exactly<00:12:54.840><c> what</c><00:12:55.080><c> to</c><00:12:55.290><c> switch</c><00:12:55.560><c> on</c><00:12:55.770><c> and</c><00:12:55.800><c> off</c><00:12:56.010><c> when</c>

00:12:56.410 --> 00:12:56.420 align:start position:0%
exactly what to switch on and off when
 

00:12:56.420 --> 00:12:59.870 align:start position:0%
exactly what to switch on and off when
it's<00:12:57.420><c> really</c><00:12:57.840><c> kind</c><00:12:58.110><c> of</c><00:12:58.170><c> that</c><00:12:58.490><c> utopian</c><00:12:59.490><c> vision</c>

00:12:59.870 --> 00:12:59.880 align:start position:0%
it's really kind of that utopian vision
 

00:12:59.880 --> 00:13:02.570 align:start position:0%
it's really kind of that utopian vision
of<00:13:00.090><c> a</c><00:13:00.360><c> really</c><00:13:01.170><c> efficient</c><00:13:01.710><c> marketplace</c><00:13:02.310><c> where</c>

00:13:02.570 --> 00:13:02.580 align:start position:0%
of a really efficient marketplace where
 

00:13:02.580 --> 00:13:05.270 align:start position:0%
of a really efficient marketplace where
you're<00:13:03.300><c> again</c><00:13:03.870><c> going</c><00:13:03.900><c> back</c><00:13:04.350><c> to</c><00:13:04.500><c> allowing</c><00:13:05.190><c> a</c>

00:13:05.270 --> 00:13:05.280 align:start position:0%
you're again going back to allowing a
 

00:13:05.280 --> 00:13:08.090 align:start position:0%
you're again going back to allowing a
nice<00:13:05.460><c> flow</c><00:13:05.790><c> of</c><00:13:05.910><c> value</c><00:13:06.270><c> so</c><00:13:06.590><c> when</c><00:13:07.590><c> you</c><00:13:07.740><c> unlock</c>

00:13:08.090 --> 00:13:08.100 align:start position:0%
nice flow of value so when you unlock
 

00:13:08.100 --> 00:13:09.620 align:start position:0%
nice flow of value so when you unlock
value<00:13:08.370><c> in</c><00:13:08.640><c> systems</c><00:13:09.030><c> that</c><00:13:09.180><c> isn't</c><00:13:09.420><c> currently</c>

00:13:09.620 --> 00:13:09.630 align:start position:0%
value in systems that isn't currently
 

00:13:09.630 --> 00:13:10.580 align:start position:0%
value in systems that isn't currently
used

00:13:10.580 --> 00:13:10.590 align:start position:0%
used
 

00:13:10.590 --> 00:13:12.320 align:start position:0%
used
you<00:13:10.830><c> know</c><00:13:10.950><c> our</c><00:13:11.130><c> vision</c><00:13:11.400><c> is</c><00:13:11.640><c> to</c><00:13:11.670><c> then</c><00:13:11.910><c> use</c><00:13:12.120><c> some</c>

00:13:12.320 --> 00:13:12.330 align:start position:0%
you know our vision is to then use some
 

00:13:12.330 --> 00:13:14.600 align:start position:0%
you know our vision is to then use some
of<00:13:12.420><c> that</c><00:13:12.480><c> elsewhere</c><00:13:13.080><c> in</c><00:13:13.230><c> the</c><00:13:13.560><c> world</c><00:13:13.710><c> to</c><00:13:14.190><c> make</c>

00:13:14.600 --> 00:13:14.610 align:start position:0%
of that elsewhere in the world to make
 

00:13:14.610 --> 00:13:18.530 align:start position:0%
of that elsewhere in the world to make
an<00:13:14.790><c> actual</c><00:13:15.060><c> impact</c><00:13:15.450><c> so</c><00:13:16.280><c> take</c><00:13:17.280><c> that</c><00:13:17.550><c> station</c>

00:13:18.530 --> 00:13:18.540 align:start position:0%
an actual impact so take that station
 

00:13:18.540 --> 00:13:20.390 align:start position:0%
an actual impact so take that station
that's<00:13:18.750><c> really</c><00:13:19.230><c> abundant</c><00:13:19.770><c> and</c><00:13:19.890><c> producing</c>

00:13:20.390 --> 00:13:20.400 align:start position:0%
that's really abundant and producing
 

00:13:20.400 --> 00:13:20.980 align:start position:0%
that's really abundant and producing
revenue<00:13:20.550><c> and</c>

00:13:20.980 --> 00:13:20.990 align:start position:0%
revenue and
 

00:13:20.990 --> 00:13:22.600 align:start position:0%
revenue and
using<00:13:21.260><c> a</c><00:13:21.350><c> portion</c><00:13:21.620><c> of</c><00:13:21.770><c> that</c><00:13:21.860><c> to</c><00:13:21.950><c> develop</c><00:13:22.220><c> other</c>

00:13:22.600 --> 00:13:22.610 align:start position:0%
using a portion of that to develop other
 

00:13:22.610 --> 00:13:24.519 align:start position:0%
using a portion of that to develop other
you<00:13:22.970><c> know</c><00:13:23.089><c> other</c><00:13:23.450><c> infrastructure</c><00:13:24.110><c> elsewhere</c>

00:13:24.519 --> 00:13:24.529 align:start position:0%
you know other infrastructure elsewhere
 

00:13:24.529 --> 00:13:26.769 align:start position:0%
you know other infrastructure elsewhere
invest<00:13:25.399><c> that</c><00:13:25.550><c> in</c><00:13:25.610><c> more</c><00:13:25.880><c> kind</c><00:13:26.120><c> of</c><00:13:26.209><c> skunkworks</c>

00:13:26.769 --> 00:13:26.779 align:start position:0%
invest that in more kind of skunkworks
 

00:13:26.779 --> 00:13:29.170 align:start position:0%
invest that in more kind of skunkworks
new<00:13:27.230><c> development</c><00:13:27.800><c> open-source</c><00:13:28.339><c> hardware</c>

00:13:29.170 --> 00:13:29.180 align:start position:0%
new development open-source hardware
 

00:13:29.180 --> 00:13:31.570 align:start position:0%
new development open-source hardware
which<00:13:29.420><c> does</c><00:13:30.110><c> exist</c><00:13:30.500><c> out</c><00:13:30.800><c> there</c><00:13:30.830><c> that</c>

00:13:31.570 --> 00:13:31.580 align:start position:0%
which does exist out there that
 

00:13:31.580 --> 00:13:33.070 align:start position:0%
which does exist out there that
currently<00:13:32.000><c> isn't</c><00:13:32.180><c> getting</c><00:13:32.480><c> the</c><00:13:32.510><c> attention</c>

00:13:33.070 --> 00:13:33.080 align:start position:0%
currently isn't getting the attention
 

00:13:33.080 --> 00:13:35.650 align:start position:0%
currently isn't getting the attention
because<00:13:33.350><c> it's</c><00:13:33.830><c> hard</c><00:13:34.070><c> to</c><00:13:34.190><c> monetize</c><00:13:34.580><c> hard</c><00:13:35.510><c> to</c>

00:13:35.650 --> 00:13:35.660 align:start position:0%
because it's hard to monetize hard to
 

00:13:35.660 --> 00:13:37.900 align:start position:0%
because it's hard to monetize hard to
justify<00:13:35.990><c> costs</c><00:13:36.560><c> and</c><00:13:36.709><c> encumbers</c><00:13:37.459><c> just</c><00:13:37.760><c> would</c>

00:13:37.900 --> 00:13:37.910 align:start position:0%
justify costs and encumbers just would
 

00:13:37.910 --> 00:13:39.990 align:start position:0%
justify costs and encumbers just would
like<00:13:38.089><c> to</c><00:13:38.360><c> continue</c><00:13:38.959><c> in</c><00:13:39.050><c> the</c><00:13:39.140><c> current</c><00:13:39.380><c> paradigm</c>

00:13:39.990 --> 00:13:40.000 align:start position:0%
like to continue in the current paradigm
 

00:13:40.000 --> 00:13:43.960 align:start position:0%
like to continue in the current paradigm
yeah<00:13:41.000><c> exactly</c><00:13:41.149><c> and</c><00:13:42.040><c> so</c><00:13:43.040><c> the</c><00:13:43.160><c> ecosystem</c><00:13:43.339><c> within</c>

00:13:43.960 --> 00:13:43.970 align:start position:0%
yeah exactly and so the ecosystem within
 

00:13:43.970 --> 00:13:45.970 align:start position:0%
yeah exactly and so the ecosystem within
energy<00:13:44.600><c> applications</c><00:13:44.690><c> that</c><00:13:45.380><c> are</c><00:13:45.529><c> seeking</c><00:13:45.860><c> to</c>

00:13:45.970 --> 00:13:45.980 align:start position:0%
energy applications that are seeking to
 

00:13:45.980 --> 00:13:47.380 align:start position:0%
energy applications that are seeking to
use<00:13:46.100><c> blockchain</c><00:13:46.550><c> infrastructure</c><00:13:47.089><c> and</c><00:13:47.209><c> some</c>

00:13:47.380 --> 00:13:47.390 align:start position:0%
use blockchain infrastructure and some
 

00:13:47.390 --> 00:13:49.480 align:start position:0%
use blockchain infrastructure and some
magnitude<00:13:47.810><c> is</c><00:13:48.020><c> expanding</c><00:13:48.709><c> super</c><00:13:49.070><c> rapidly</c>

00:13:49.480 --> 00:13:49.490 align:start position:0%
magnitude is expanding super rapidly
 

00:13:49.490 --> 00:13:52.690 align:start position:0%
magnitude is expanding super rapidly
this<00:13:50.180><c> is</c><00:13:50.390><c> a</c><00:13:50.420><c> smattering</c><00:13:51.080><c> of</c><00:13:51.440><c> of</c><00:13:52.220><c> companies</c>

00:13:52.690 --> 00:13:52.700 align:start position:0%
this is a smattering of of companies
 

00:13:52.700 --> 00:13:54.400 align:start position:0%
this is a smattering of of companies
that<00:13:52.730><c> are</c><00:13:53.000><c> that</c><00:13:53.600><c> are</c><00:13:53.690><c> trying</c><00:13:53.870><c> to</c><00:13:54.020><c> accomplish</c>

00:13:54.400 --> 00:13:54.410 align:start position:0%
that are that are trying to accomplish
 

00:13:54.410 --> 00:13:57.639 align:start position:0%
that are that are trying to accomplish
this<00:13:54.670><c> some</c><00:13:55.670><c> of</c><00:13:55.700><c> them</c><00:13:55.940><c> we</c><00:13:56.270><c> have</c><00:13:56.649><c> agreements</c>

00:13:57.639 --> 00:13:57.649 align:start position:0%
this some of them we have agreements
 

00:13:57.649 --> 00:13:58.600 align:start position:0%
this some of them we have agreements
with<00:13:57.680><c> already</c><00:13:57.950><c> and</c><00:13:58.130><c> we're</c><00:13:58.220><c> working</c><00:13:58.490><c> actively</c>

00:13:58.600 --> 00:13:58.610 align:start position:0%
with already and we're working actively
 

00:13:58.610 --> 00:14:00.880 align:start position:0%
with already and we're working actively
lyft<00:13:59.089><c> we've</c><00:13:59.360><c> spoken</c><00:13:59.630><c> with</c><00:13:59.839><c> all</c><00:13:59.990><c> of</c><00:14:00.110><c> them</c><00:14:00.290><c> all</c>

00:14:00.880 --> 00:14:00.890 align:start position:0%
lyft we've spoken with all of them all
 

00:14:00.890 --> 00:14:02.139 align:start position:0%
lyft we've spoken with all of them all
of<00:14:00.950><c> them</c><00:14:01.130><c> have</c><00:14:01.250><c> shown</c><00:14:01.339><c> interest</c><00:14:01.730><c> in</c><00:14:01.970><c> using</c>

00:14:02.139 --> 00:14:02.149 align:start position:0%
of them have shown interest in using
 

00:14:02.149 --> 00:14:03.850 align:start position:0%
of them have shown interest in using
they<00:14:02.330><c> do</c><00:14:02.480><c> have</c><00:14:02.690><c> blockchain</c><00:14:03.110><c> for</c><00:14:03.350><c> the</c><00:14:03.410><c> purposes</c>

00:14:03.850 --> 00:14:03.860 align:start position:0%
they do have blockchain for the purposes
 

00:14:03.860 --> 00:14:05.500 align:start position:0%
they do have blockchain for the purposes
simply<00:14:04.459><c> because</c><00:14:04.850><c> you</c><00:14:05.029><c> can</c><00:14:05.149><c> have</c><00:14:05.270><c> a</c><00:14:05.300><c> lot</c><00:14:05.480><c> more</c>

00:14:05.500 --> 00:14:05.510 align:start position:0%
simply because you can have a lot more
 

00:14:05.510 --> 00:14:09.160 align:start position:0%
simply because you can have a lot more
transaction<00:14:06.110><c> throughput</c><00:14:06.529><c> and</c><00:14:06.740><c> so</c><00:14:07.490><c> on</c><00:14:07.870><c> so</c><00:14:08.870><c> and</c>

00:14:09.160 --> 00:14:09.170 align:start position:0%
transaction throughput and so on so and
 

00:14:09.170 --> 00:14:10.780 align:start position:0%
transaction throughput and so on so and
some<00:14:09.560><c> of</c><00:14:09.680><c> them</c><00:14:09.800><c> have</c><00:14:09.980><c> gone</c><00:14:10.190><c> to</c><00:14:10.370><c> the</c><00:14:10.490><c> point</c><00:14:10.700><c> of</c>

00:14:10.780 --> 00:14:10.790 align:start position:0%
some of them have gone to the point of
 

00:14:10.790 --> 00:14:12.940 align:start position:0%
some of them have gone to the point of
purchasing<00:14:11.600><c> tokens</c><00:14:11.990><c> in</c><00:14:12.350><c> the</c><00:14:12.560><c> energy</c><00:14:12.830><c> web</c>

00:14:12.940 --> 00:14:12.950 align:start position:0%
purchasing tokens in the energy web
 

00:14:12.950 --> 00:14:15.610 align:start position:0%
purchasing tokens in the energy web
blockchain<00:14:13.610><c> which</c><00:14:14.089><c> are</c><00:14:14.540><c> used</c><00:14:14.690><c> as</c><00:14:14.870><c> gas</c><00:14:15.080><c> similar</c>

00:14:15.610 --> 00:14:15.620 align:start position:0%
blockchain which are used as gas similar
 

00:14:15.620 --> 00:14:19.600 align:start position:0%
blockchain which are used as gas similar
to<00:14:15.800><c> ethan</c><00:14:16.130><c> ether</c><00:14:16.399><c> and</c><00:14:17.180><c> aetherium</c><00:14:18.100><c> so</c><00:14:19.100><c> yeah</c><00:14:19.580><c> i</c>

00:14:19.600 --> 00:14:19.610 align:start position:0%
to ethan ether and aetherium so yeah i
 

00:14:19.610 --> 00:14:20.829 align:start position:0%
to ethan ether and aetherium so yeah i
just<00:14:19.730><c> wanted</c><00:14:20.029><c> to</c><00:14:20.120><c> say</c><00:14:20.240><c> thank</c><00:14:20.450><c> you</c><00:14:20.480><c> very</c><00:14:20.570><c> much</c>

00:14:20.829 --> 00:14:20.839 align:start position:0%
just wanted to say thank you very much
 

00:14:20.839 --> 00:14:22.480 align:start position:0%
just wanted to say thank you very much
it's<00:14:21.080><c> a</c><00:14:21.110><c> huge</c><00:14:21.320><c> honor</c><00:14:21.470><c> to</c><00:14:21.560><c> be</c><00:14:21.680><c> here</c><00:14:21.950><c> thanks</c><00:14:22.459><c> for</c>

00:14:22.480 --> 00:14:22.490 align:start position:0%
it's a huge honor to be here thanks for
 

00:14:22.490 --> 00:14:25.240 align:start position:0%
it's a huge honor to be here thanks for
thanks<00:14:23.330><c> for</c><00:14:23.450><c> having</c><00:14:23.690><c> us</c><00:14:23.779><c> and</c><00:14:24.110><c> yeah</c><00:14:24.860><c> we</c><00:14:24.980><c> do</c><00:14:25.100><c> have</c>

00:14:25.240 --> 00:14:25.250 align:start position:0%
thanks for having us and yeah we do have
 

00:14:25.250 --> 00:14:26.350 align:start position:0%
thanks for having us and yeah we do have
a<00:14:25.279><c> couple</c><00:14:25.430><c> more</c><00:14:25.579><c> minutes</c><00:14:25.640><c> left</c><00:14:26.029><c> so</c><00:14:26.180><c> if</c><00:14:26.240><c> there</c>

00:14:26.350 --> 00:14:26.360 align:start position:0%
a couple more minutes left so if there
 

00:14:26.360 --> 00:14:28.560 align:start position:0%
a couple more minutes left so if there
any<00:14:26.480><c> questions</c><00:14:26.510><c> we're</c><00:14:27.050><c> happy</c><00:14:27.260><c> to</c><00:14:27.350><c> take</c><00:14:27.620><c> those</c>

00:14:28.560 --> 00:14:28.570 align:start position:0%
any questions we're happy to take those
 

00:14:28.570 --> 00:14:29.829 align:start position:0%
any questions we're happy to take those
thanks<00:14:29.570><c> guys</c>

00:14:29.829 --> 00:14:29.839 align:start position:0%
thanks guys
 

00:14:29.839 --> 00:14:31.090 align:start position:0%
thanks guys
thanks

00:14:31.090 --> 00:14:31.100 align:start position:0%
thanks
 

00:14:31.100 --> 00:14:37.830 align:start position:0%
thanks
[Applause]

00:14:37.830 --> 00:14:37.840 align:start position:0%
[Applause]
 

00:14:37.840 --> 00:14:40.660 align:start position:0%
[Applause]
did<00:14:38.840><c> anyone</c><00:14:39.140><c> have</c><00:14:39.350><c> any</c><00:14:39.470><c> questions</c><00:14:39.770><c> if</c><00:14:40.520><c> you</c>

00:14:40.660 --> 00:14:40.670 align:start position:0%
did anyone have any questions if you
 

00:14:40.670 --> 00:14:42.700 align:start position:0%
did anyone have any questions if you
don't<00:14:40.850><c> that's</c><00:14:41.030><c> fine</c><00:14:41.270><c> if</c><00:14:41.660><c> you</c><00:14:41.720><c> do</c><00:14:42.020><c> it's</c><00:14:42.470><c> under</c>

00:14:42.700 --> 00:14:42.710 align:start position:0%
don't that's fine if you do it's under
 

00:14:42.710 --> 00:14:46.570 align:start position:0%
don't that's fine if you do it's under
there<00:14:42.830><c> yeah</c><00:14:43.220><c> right</c><00:14:44.200><c> so</c><00:14:45.200><c> in</c><00:14:45.830><c> your</c><00:14:45.950><c> presentation</c>

00:14:46.570 --> 00:14:46.580 align:start position:0%
there yeah right so in your presentation
 

00:14:46.580 --> 00:14:47.890 align:start position:0%
there yeah right so in your presentation
there<00:14:46.700><c> is</c><00:14:46.730><c> a</c><00:14:46.820><c> slide</c><00:14:47.150><c> where</c><00:14:47.330><c> you</c><00:14:47.420><c> mentioned</c>

00:14:47.890 --> 00:14:47.900 align:start position:0%
there is a slide where you mentioned
 

00:14:47.900 --> 00:14:50.620 align:start position:0%
there is a slide where you mentioned
that<00:14:48.350><c> energy</c><00:14:48.740><c> demand</c><00:14:49.120><c> fluctuates</c><00:14:50.120><c> throughout</c>

00:14:50.620 --> 00:14:50.630 align:start position:0%
that energy demand fluctuates throughout
 

00:14:50.630 --> 00:14:54.180 align:start position:0%
that energy demand fluctuates throughout
the<00:14:51.020><c> day</c><00:14:51.170><c> and</c><00:14:51.440><c> that</c><00:14:51.950><c> doesn't</c><00:14:52.280><c> coincide</c><00:14:52.460><c> with</c>

00:14:54.180 --> 00:14:54.190 align:start position:0%
the day and that doesn't coincide with
 

00:14:54.190 --> 00:14:57.700 align:start position:0%
the day and that doesn't coincide with
energy<00:14:55.190><c> that's</c><00:14:55.370><c> produced</c><00:14:56.500><c> through</c><00:14:57.500><c> means</c>

00:14:57.700 --> 00:14:57.710 align:start position:0%
energy that's produced through means
 

00:14:57.710 --> 00:15:01.620 align:start position:0%
energy that's produced through means
like<00:14:57.950><c> solar</c><00:14:58.930><c> my</c><00:14:59.930><c> question</c><00:15:00.350><c> is</c><00:15:00.470><c> what</c><00:15:00.860><c> role</c><00:15:01.070><c> do</c>

00:15:01.620 --> 00:15:01.630 align:start position:0%
like solar my question is what role do
 

00:15:01.630 --> 00:15:04.950 align:start position:0%
like solar my question is what role do
technologies<00:15:02.630><c> like</c><00:15:03.190><c> in</c><00:15:04.190><c> house</c><00:15:04.490><c> batteries</c>

00:15:04.950 --> 00:15:04.960 align:start position:0%
technologies like in house batteries
 

00:15:04.960 --> 00:15:08.920 align:start position:0%
technologies like in house batteries
think<00:15:05.960><c> tesla</c><00:15:06.650><c> powerwall</c><00:15:07.060><c> have</c><00:15:08.060><c> in</c><00:15:08.360><c> addressing</c>

00:15:08.920 --> 00:15:08.930 align:start position:0%
think tesla powerwall have in addressing
 

00:15:08.930 --> 00:15:13.180 align:start position:0%
think tesla powerwall have in addressing
that<00:15:08.960><c> specific</c><00:15:09.680><c> problem</c><00:15:11.350><c> yeah</c><00:15:12.350><c> absolutely</c><00:15:12.560><c> so</c>

00:15:13.180 --> 00:15:13.190 align:start position:0%
that specific problem yeah absolutely so
 

00:15:13.190 --> 00:15:15.280 align:start position:0%
that specific problem yeah absolutely so
basically<00:15:14.120><c> the</c><00:15:14.360><c> idea</c><00:15:14.660><c> is</c><00:15:14.720><c> with</c><00:15:14.930><c> the</c><00:15:15.020><c> tesla</c>

00:15:15.280 --> 00:15:15.290 align:start position:0%
basically the idea is with the tesla
 

00:15:15.290 --> 00:15:18.220 align:start position:0%
basically the idea is with the tesla
powerwall<00:15:15.410><c> is</c><00:15:15.830><c> if</c><00:15:16.130><c> you</c><00:15:16.550><c> and</c><00:15:17.270><c> if</c><00:15:17.690><c> you</c><00:15:18.020><c> have</c><00:15:18.050><c> an</c>

00:15:18.220 --> 00:15:18.230 align:start position:0%
powerwall is if you and if you have an
 

00:15:18.230 --> 00:15:20.290 align:start position:0%
powerwall is if you and if you have an
infrastructure<00:15:18.650><c> that</c><00:15:18.800><c> supports</c><00:15:19.460><c> the</c><00:15:19.880><c> leasing</c>

00:15:20.290 --> 00:15:20.300 align:start position:0%
infrastructure that supports the leasing
 

00:15:20.300 --> 00:15:22.090 align:start position:0%
infrastructure that supports the leasing
of<00:15:20.390><c> batteries</c><00:15:20.810><c> on</c><00:15:21.110><c> a</c><00:15:21.140><c> short</c><00:15:21.410><c> timescale</c><00:15:21.890><c> like</c>

00:15:22.090 --> 00:15:22.100 align:start position:0%
of batteries on a short timescale like
 

00:15:22.100 --> 00:15:23.440 align:start position:0%
of batteries on a short timescale like
for<00:15:22.280><c> instance</c><00:15:22.550><c> over</c><00:15:22.670><c> the</c><00:15:22.910><c> course</c><00:15:23.090><c> of</c><00:15:23.180><c> a</c><00:15:23.270><c> day</c>

00:15:23.440 --> 00:15:23.450 align:start position:0%
for instance over the course of a day
 

00:15:23.450 --> 00:15:25.210 align:start position:0%
for instance over the course of a day
then<00:15:23.960><c> if</c><00:15:24.080><c> there's</c><00:15:24.230><c> abundance</c><00:15:24.440><c> of</c><00:15:24.770><c> solar</c><00:15:24.980><c> on</c>

00:15:25.210 --> 00:15:25.220 align:start position:0%
then if there's abundance of solar on
 

00:15:25.220 --> 00:15:27.190 align:start position:0%
then if there's abundance of solar on
one<00:15:25.430><c> home</c><00:15:25.640><c> for</c><00:15:26.390><c> instance</c><00:15:26.510><c> if</c><00:15:26.780><c> we</c><00:15:26.840><c> just</c><00:15:26.960><c> go</c><00:15:27.080><c> back</c>

00:15:27.190 --> 00:15:27.200 align:start position:0%
one home for instance if we just go back
 

00:15:27.200 --> 00:15:29.110 align:start position:0%
one home for instance if we just go back
to<00:15:27.260><c> the</c><00:15:27.470><c> simulation</c><00:15:27.860><c> there's</c><00:15:28.580><c> abundance</c><00:15:28.790><c> of</c>

00:15:29.110 --> 00:15:29.120 align:start position:0%
to the simulation there's abundance of
 

00:15:29.120 --> 00:15:31.420 align:start position:0%
to the simulation there's abundance of
power<00:15:29.750><c> on</c><00:15:30.200><c> on</c><00:15:30.680><c> this</c><00:15:30.920><c> home</c><00:15:31.100><c> because</c><00:15:31.190><c> they</c><00:15:31.340><c> have</c>

00:15:31.420 --> 00:15:31.430 align:start position:0%
power on on this home because they have
 

00:15:31.430 --> 00:15:33.160 align:start position:0%
power on on this home because they have
a<00:15:31.460><c> lot</c><00:15:31.610><c> of</c><00:15:31.640><c> solar</c><00:15:31.910><c> panels</c><00:15:32.330><c> and</c><00:15:32.600><c> only</c><00:15:32.990><c> two</c>

00:15:33.160 --> 00:15:33.170 align:start position:0%
a lot of solar panels and only two
 

00:15:33.170 --> 00:15:34.960 align:start position:0%
a lot of solar panels and only two
batteries<00:15:33.500><c> and</c><00:15:33.530><c> this</c><00:15:33.830><c> one</c><00:15:34.010><c> doesn't</c><00:15:34.520><c> have</c><00:15:34.670><c> that</c>

00:15:34.960 --> 00:15:34.970 align:start position:0%
batteries and this one doesn't have that
 

00:15:34.970 --> 00:15:38.010 align:start position:0%
batteries and this one doesn't have that
but<00:15:35.150><c> maybe</c><00:15:35.750><c> he</c><00:15:35.960><c> has</c><00:15:36.050><c> more</c><00:15:36.170><c> storage</c><00:15:36.410><c> capacity</c>

00:15:38.010 --> 00:15:38.020 align:start position:0%
but maybe he has more storage capacity
 

00:15:38.020 --> 00:15:39.940 align:start position:0%
but maybe he has more storage capacity
then<00:15:39.020><c> basically</c><00:15:39.350><c> you</c><00:15:39.470><c> can</c><00:15:39.620><c> lease</c><00:15:39.770><c> out</c><00:15:39.920><c> the</c>

00:15:39.940 --> 00:15:39.950 align:start position:0%
then basically you can lease out the
 

00:15:39.950 --> 00:15:42.160 align:start position:0%
then basically you can lease out the
battery<00:15:40.340><c> and</c><00:15:40.610><c> use</c><00:15:41.450><c> that</c><00:15:41.630><c> solar</c><00:15:41.960><c> power</c>

00:15:42.160 --> 00:15:42.170 align:start position:0%
battery and use that solar power
 

00:15:42.170 --> 00:15:43.480 align:start position:0%
battery and use that solar power
throughout<00:15:42.530><c> the</c><00:15:42.620><c> day</c><00:15:42.830><c> to</c><00:15:42.890><c> power</c><00:15:43.190><c> everything</c>

00:15:43.480 --> 00:15:43.490 align:start position:0%
throughout the day to power everything
 

00:15:43.490 --> 00:15:45.370 align:start position:0%
throughout the day to power everything
during<00:15:43.850><c> the</c><00:15:43.940><c> night</c><00:15:44.090><c> when</c><00:15:44.270><c> it's</c><00:15:44.420><c> not</c><00:15:44.900><c> there</c><00:15:45.080><c> so</c>

00:15:45.370 --> 00:15:45.380 align:start position:0%
during the night when it's not there so
 

00:15:45.380 --> 00:15:46.570 align:start position:0%
during the night when it's not there so
that<00:15:45.410><c> way</c><00:15:45.620><c> you're</c><00:15:45.800><c> shaving</c><00:15:45.980><c> the</c><00:15:46.190><c> peak</c><00:15:46.340><c> a</c><00:15:46.430><c> lot</c>

00:15:46.570 --> 00:15:46.580 align:start position:0%
that way you're shaving the peak a lot
 

00:15:46.580 --> 00:15:48.550 align:start position:0%
that way you're shaving the peak a lot
so<00:15:46.730><c> batteries</c><00:15:47.090><c> like</c><00:15:47.210><c> that</c><00:15:47.420><c> play</c><00:15:48.380><c> a</c><00:15:48.410><c> tremendous</c>

00:15:48.550 --> 00:15:48.560 align:start position:0%
so batteries like that play a tremendous
 

00:15:48.560 --> 00:15:50.380 align:start position:0%
so batteries like that play a tremendous
role<00:15:48.920><c> and</c><00:15:49.220><c> actually</c><00:15:49.340><c> utilizing</c><00:15:50.060><c> the</c><00:15:50.150><c> solar</c>

00:15:50.380 --> 00:15:50.390 align:start position:0%
role and actually utilizing the solar
 

00:15:50.390 --> 00:15:51.910 align:start position:0%
role and actually utilizing the solar
power<00:15:50.570><c> more</c><00:15:50.840><c> effectively</c><00:15:51.320><c> even</c><00:15:51.620><c> though</c><00:15:51.860><c> you</c>

00:15:51.910 --> 00:15:51.920 align:start position:0%
power more effectively even though you
 

00:15:51.920 --> 00:15:54.910 align:start position:0%
power more effectively even though you
have<00:15:52.430><c> a</c><00:15:52.690><c> obvious</c><00:15:53.710><c> decrease</c><00:15:54.710><c> in</c><00:15:54.830><c> efficiency</c>

00:15:54.910 --> 00:15:54.920 align:start position:0%
have a obvious decrease in efficiency
 

00:15:54.920 --> 00:15:56.800 align:start position:0%
have a obvious decrease in efficiency
when<00:15:55.370><c> you</c><00:15:55.460><c> store</c><00:15:55.700><c> electrons</c><00:15:56.360><c> in</c><00:15:56.480><c> a</c><00:15:56.510><c> battery</c>

00:15:56.800 --> 00:15:56.810 align:start position:0%
when you store electrons in a battery
 

00:15:56.810 --> 00:16:00.220 align:start position:0%
when you store electrons in a battery
you<00:15:57.050><c> lose</c><00:15:57.230><c> some</c><00:15:57.470><c> but</c><00:15:57.770><c> the</c><00:15:58.430><c> gains</c><00:15:58.640><c> over</c><00:15:59.230><c> just</c>

00:16:00.220 --> 00:16:00.230 align:start position:0%
you lose some but the gains over just
 

00:16:00.230 --> 00:16:01.720 align:start position:0%
you lose some but the gains over just
use<00:16:00.410><c> lighting</c><00:16:00.740><c> and</c><00:16:00.890><c> utilizing</c><00:16:01.400><c> the</c><00:16:01.460><c> normal</c>

00:16:01.720 --> 00:16:01.730 align:start position:0%
use lighting and utilizing the normal
 

00:16:01.730 --> 00:16:03.820 align:start position:0%
use lighting and utilizing the normal
grid<00:16:01.910><c> is</c><00:16:02.060><c> tremendous</c><00:16:02.720><c> yeah</c><00:16:03.290><c> and</c><00:16:03.530><c> I</c><00:16:03.740><c> think</c>

00:16:03.820 --> 00:16:03.830 align:start position:0%
grid is tremendous yeah and I think
 

00:16:03.830 --> 00:16:05.520 align:start position:0%
grid is tremendous yeah and I think
something<00:16:04.250><c> I'll</c><00:16:04.340><c> add</c><00:16:04.550><c> to</c><00:16:04.700><c> that</c><00:16:04.820><c> as</c><00:16:04.940><c> well</c><00:16:05.090><c> is</c>

00:16:05.520 --> 00:16:05.530 align:start position:0%
something I'll add to that as well is
 

00:16:05.530 --> 00:16:08.200 align:start position:0%
something I'll add to that as well is
not<00:16:06.530><c> just</c><00:16:06.770><c> to</c><00:16:06.860><c> be</c><00:16:06.950><c> too</c><00:16:07.130><c> narrow</c><00:16:07.310><c> in</c><00:16:07.430><c> solar</c><00:16:07.790><c> is</c><00:16:08.030><c> to</c>

00:16:08.200 --> 00:16:08.210 align:start position:0%
not just to be too narrow in solar is to
 

00:16:08.210 --> 00:16:09.430 align:start position:0%
not just to be too narrow in solar is to
also<00:16:08.330><c> look</c><00:16:08.630><c> at</c><00:16:08.780><c> a</c><00:16:08.840><c> lot</c><00:16:08.900><c> of</c><00:16:09.080><c> the</c><00:16:09.260><c> other</c>

00:16:09.430 --> 00:16:09.440 align:start position:0%
also look at a lot of the other
 

00:16:09.440 --> 00:16:11.410 align:start position:0%
also look at a lot of the other
technologies<00:16:10.220><c> that</c><00:16:10.370><c> are</c><00:16:10.460><c> out</c><00:16:10.520><c> there</c><00:16:10.580><c> so</c><00:16:11.000><c> in</c>

00:16:11.410 --> 00:16:11.420 align:start position:0%
technologies that are out there so in
 

00:16:11.420 --> 00:16:13.060 align:start position:0%
technologies that are out there so in
the<00:16:11.630><c> UK</c><00:16:11.990><c> there</c><00:16:12.260><c> is</c><00:16:12.290><c> a</c><00:16:12.410><c> system</c><00:16:12.830><c> called</c><00:16:13.040><c> the</c>

00:16:13.060 --> 00:16:13.070 align:start position:0%
the UK there is a system called the
 

00:16:13.070 --> 00:16:14.830 align:start position:0%
the UK there is a system called the
Triad<00:16:13.400><c> Network</c><00:16:13.850><c> and</c><00:16:14.060><c> what</c><00:16:14.150><c> the</c><00:16:14.210><c> Triad</c><00:16:14.480><c> network</c>

00:16:14.830 --> 00:16:14.840 align:start position:0%
Triad Network and what the Triad network
 

00:16:14.840 --> 00:16:17.290 align:start position:0%
Triad Network and what the Triad network
does<00:16:15.110><c> it</c><00:16:15.710><c> is</c><00:16:15.950><c> a</c><00:16:15.980><c> bunch</c><00:16:16.280><c> of</c><00:16:16.400><c> distributed</c><00:16:16.970><c> diesel</c>

00:16:17.290 --> 00:16:17.300 align:start position:0%
does it is a bunch of distributed diesel
 

00:16:17.300 --> 00:16:19.930 align:start position:0%
does it is a bunch of distributed diesel
gensets<00:16:17.810><c> very</c><00:16:18.470><c> very</c><00:16:18.800><c> big</c><00:16:19.040><c> substantial</c><00:16:19.400><c> ones</c>

00:16:19.930 --> 00:16:19.940 align:start position:0%
gensets very very big substantial ones
 

00:16:19.940 --> 00:16:22.060 align:start position:0%
gensets very very big substantial ones
tied<00:16:20.210><c> to</c><00:16:20.390><c> the</c><00:16:20.480><c> grid</c><00:16:20.660><c> in</c><00:16:20.900><c> strategic</c><00:16:21.290><c> locations</c>

00:16:22.060 --> 00:16:22.070 align:start position:0%
tied to the grid in strategic locations
 

00:16:22.070 --> 00:16:24.430 align:start position:0%
tied to the grid in strategic locations
around<00:16:22.190><c> the</c><00:16:22.430><c> UK</c><00:16:22.580><c> between</c><00:16:23.480><c> the</c><00:16:23.540><c> hours</c><00:16:23.780><c> of</c><00:16:23.900><c> 6</c><00:16:24.140><c> &amp;</c><00:16:24.320><c> 7</c>

00:16:24.430 --> 00:16:24.440 align:start position:0%
around the UK between the hours of 6 &amp; 7
 

00:16:24.440 --> 00:16:26.470 align:start position:0%
around the UK between the hours of 6 &amp; 7
p.m.<00:16:24.770><c> they</c><00:16:24.950><c> will</c><00:16:25.070><c> switch</c><00:16:25.280><c> on</c><00:16:25.460><c> they</c><00:16:26.030><c> switch</c><00:16:26.300><c> on</c>

00:16:26.470 --> 00:16:26.480 align:start position:0%
p.m. they will switch on they switch on
 

00:16:26.480 --> 00:16:29.380 align:start position:0%
p.m. they will switch on they switch on
they<00:16:26.630><c> provide</c><00:16:26.960><c> a</c><00:16:27.170><c> very</c><00:16:27.500><c> expensive</c><00:16:28.300><c> kind</c><00:16:29.300><c> of</c>

00:16:29.380 --> 00:16:29.390 align:start position:0%
they provide a very expensive kind of
 

00:16:29.390 --> 00:16:31.690 align:start position:0%
they provide a very expensive kind of
surcharged<00:16:30.170><c> power</c><00:16:30.500><c> which</c><00:16:30.800><c> balances</c><00:16:31.520><c> this</c>

00:16:31.690 --> 00:16:31.700 align:start position:0%
surcharged power which balances this
 

00:16:31.700 --> 00:16:34.000 align:start position:0%
surcharged power which balances this
load<00:16:32.000><c> so</c><00:16:32.720><c> I</c><00:16:32.750><c> think</c><00:16:32.870><c> it's</c><00:16:33.080><c> about</c><00:16:33.230><c> thinking</c>

00:16:34.000 --> 00:16:34.010 align:start position:0%
load so I think it's about thinking
 

00:16:34.010 --> 00:16:35.560 align:start position:0%
load so I think it's about thinking
about<00:16:34.190><c> how</c><00:16:34.430><c> you</c><00:16:34.490><c> can</c><00:16:34.790><c> also</c><00:16:34.940><c> bring</c><00:16:35.270><c> on</c><00:16:35.390><c> more</c>

00:16:35.560 --> 00:16:35.570 align:start position:0%
about how you can also bring on more
 

00:16:35.570 --> 00:16:38.460 align:start position:0%
about how you can also bring on more
novel<00:16:35.870><c> technologies</c><00:16:36.410><c> like</c><00:16:36.680><c> you</c><00:16:37.370><c> can</c><00:16:37.550><c> use</c>

00:16:38.460 --> 00:16:38.470 align:start position:0%
novel technologies like you can use
 

00:16:38.470 --> 00:16:41.230 align:start position:0%
novel technologies like you can use
recycled<00:16:39.470><c> cooking</c><00:16:40.040><c> oil</c><00:16:40.220><c> that's</c><00:16:41.120><c> been</c>

00:16:41.230 --> 00:16:41.240 align:start position:0%
recycled cooking oil that's been
 

00:16:41.240 --> 00:16:44.020 align:start position:0%
recycled cooking oil that's been
reprocessed<00:16:41.860><c> in</c><00:16:42.860><c> a</c><00:16:43.040><c> diesel</c><00:16:43.220><c> genset</c><00:16:43.880><c> as</c><00:16:44.000><c> a</c>

00:16:44.020 --> 00:16:44.030 align:start position:0%
reprocessed in a diesel genset as a
 

00:16:44.030 --> 00:16:46.660 align:start position:0%
reprocessed in a diesel genset as a
biomass<00:16:44.510><c> fuel</c><00:16:44.839><c> in</c><00:16:45.230><c> a</c><00:16:45.470><c> strategic</c><00:16:45.980><c> location</c><00:16:46.010><c> the</c>

00:16:46.660 --> 00:16:46.670 align:start position:0%
biomass fuel in a strategic location the
 

00:16:46.670 --> 00:16:47.920 align:start position:0%
biomass fuel in a strategic location the
infrastructure<00:16:47.150><c> that</c><00:16:47.270><c> costs</c><00:16:47.660><c> a</c><00:16:47.720><c> little</c><00:16:47.810><c> bit</c>

00:16:47.920 --> 00:16:47.930 align:start position:0%
infrastructure that costs a little bit
 

00:16:47.930 --> 00:16:48.860 align:start position:0%
infrastructure that costs a little bit
more

00:16:48.860 --> 00:16:48.870 align:start position:0%
more
 

00:16:48.870 --> 00:16:51.440 align:start position:0%
more
but<00:16:49.260><c> if</c><00:16:49.470><c> you</c><00:16:49.920><c> are</c><00:16:50.100><c> able</c><00:16:50.370><c> to</c><00:16:50.580><c> switch</c><00:16:50.970><c> it</c><00:16:51.180><c> on</c><00:16:51.330><c> at</c>

00:16:51.440 --> 00:16:51.450 align:start position:0%
but if you are able to switch it on at
 

00:16:51.450 --> 00:16:53.690 align:start position:0%
but if you are able to switch it on at
the<00:16:51.540><c> right</c><00:16:51.779><c> time</c><00:16:52.080><c> of</c><00:16:52.260><c> demand</c><00:16:52.740><c> and</c><00:16:53.100><c> only</c><00:16:53.460><c> use</c><00:16:53.670><c> it</c>

00:16:53.690 --> 00:16:53.700 align:start position:0%
the right time of demand and only use it
 

00:16:53.700 --> 00:16:55.850 align:start position:0%
the right time of demand and only use it
when<00:16:53.940><c> demand</c><00:16:54.210><c> is</c><00:16:54.450><c> high</c><00:16:54.480><c> then</c><00:16:55.350><c> that</c><00:16:55.380><c> can</c><00:16:55.710><c> help</c>

00:16:55.850 --> 00:16:55.860 align:start position:0%
when demand is high then that can help
 

00:16:55.860 --> 00:16:56.960 align:start position:0%
when demand is high then that can help
balance<00:16:56.220><c> that</c><00:16:56.310><c> though</c><00:16:56.580><c> so</c><00:16:56.820><c> it's</c><00:16:56.940><c> a</c>

00:16:56.960 --> 00:16:56.970 align:start position:0%
balance that though so it's a
 

00:16:56.970 --> 00:16:59.660 align:start position:0%
balance that though so it's a
combination<00:16:57.210><c> of</c><00:16:57.480><c> storing</c><00:16:58.080><c> and</c><00:16:58.670><c> finding</c>

00:16:59.660 --> 00:16:59.670 align:start position:0%
combination of storing and finding
 

00:16:59.670 --> 00:17:01.820 align:start position:0%
combination of storing and finding
dynamic<00:17:00.270><c> load</c><00:17:00.570><c> in</c><00:17:00.750><c> the</c><00:17:00.839><c> network</c><00:17:01.290><c> that</c><00:17:01.620><c> can</c>

00:17:01.820 --> 00:17:01.830 align:start position:0%
dynamic load in the network that can
 

00:17:01.830 --> 00:17:04.040 align:start position:0%
dynamic load in the network that can
instinctively<00:17:02.730><c> switch</c><00:17:03.089><c> on</c><00:17:03.360><c> based</c><00:17:03.720><c> on</c><00:17:03.930><c> the</c>

00:17:04.040 --> 00:17:04.050 align:start position:0%
instinctively switch on based on the
 

00:17:04.050 --> 00:17:05.420 align:start position:0%
instinctively switch on based on the
load<00:17:04.260><c> balancing</c><00:17:04.800><c> that's</c><00:17:04.980><c> kind</c><00:17:05.220><c> of</c><00:17:05.280><c> in</c><00:17:05.400><c> the</c>

00:17:05.420 --> 00:17:05.430 align:start position:0%
load balancing that's kind of in the
 

00:17:05.430 --> 00:17:07.760 align:start position:0%
load balancing that's kind of in the
smart<00:17:05.819><c> grid</c><00:17:05.880><c> to</c><00:17:06.750><c> bring</c><00:17:06.959><c> that</c><00:17:07.079><c> power</c><00:17:07.410><c> on</c><00:17:07.620><c> when</c>

00:17:07.760 --> 00:17:07.770 align:start position:0%
smart grid to bring that power on when
 

00:17:07.770 --> 00:17:09.590 align:start position:0%
smart grid to bring that power on when
it's<00:17:07.890><c> needed</c><00:17:08.130><c> so</c><00:17:08.309><c> you've</c><00:17:09.059><c> got</c><00:17:09.240><c> this</c><00:17:09.390><c> nice</c>

00:17:09.590 --> 00:17:09.600 align:start position:0%
it's needed so you've got this nice
 

00:17:09.600 --> 00:17:12.140 align:start position:0%
it's needed so you've got this nice
blend<00:17:10.079><c> of</c><00:17:10.380><c> battery</c><00:17:11.100><c> which</c><00:17:11.670><c> is</c><00:17:11.699><c> going</c><00:17:11.939><c> to</c><00:17:12.000><c> take</c>

00:17:12.140 --> 00:17:12.150 align:start position:0%
blend of battery which is going to take
 

00:17:12.150 --> 00:17:14.090 align:start position:0%
blend of battery which is going to take
some<00:17:12.480><c> time</c><00:17:12.750><c> to</c><00:17:12.959><c> kind</c><00:17:13.110><c> of</c><00:17:13.230><c> get</c><00:17:13.410><c> affected</c><00:17:13.860><c> on</c><00:17:13.980><c> the</c>

00:17:14.090 --> 00:17:14.100 align:start position:0%
some time to kind of get affected on the
 

00:17:14.100 --> 00:17:16.250 align:start position:0%
some time to kind of get affected on the
network<00:17:14.400><c> and</c><00:17:14.579><c> novel</c><00:17:15.270><c> technologies</c><00:17:15.870><c> there</c><00:17:16.079><c> to</c>

00:17:16.250 --> 00:17:16.260 align:start position:0%
network and novel technologies there to
 

00:17:16.260 --> 00:17:18.500 align:start position:0%
network and novel technologies there to
boost<00:17:16.500><c> it</c><00:17:16.740><c> but</c><00:17:17.010><c> focusing</c><00:17:17.819><c> on</c><00:17:17.910><c> renewables</c><00:17:18.390><c> for</c>

00:17:18.500 --> 00:17:18.510 align:start position:0%
boost it but focusing on renewables for
 

00:17:18.510 --> 00:17:24.380 align:start position:0%
boost it but focusing on renewables for
that<00:17:18.689><c> yeah</c><00:17:22.640><c> there</c><00:17:23.640><c> was</c><00:17:23.790><c> a</c><00:17:23.939><c> really</c><00:17:24.179><c> interesting</c>

00:17:24.380 --> 00:17:24.390 align:start position:0%
that yeah there was a really interesting
 

00:17:24.390 --> 00:17:26.419 align:start position:0%
that yeah there was a really interesting
talk<00:17:24.929><c> yesterday</c><00:17:25.500><c> that</c><00:17:25.650><c> treated</c><00:17:26.010><c> this</c><00:17:26.100><c> as</c><00:17:26.160><c> an</c>

00:17:26.419 --> 00:17:26.429 align:start position:0%
talk yesterday that treated this as an
 

00:17:26.429 --> 00:17:30.880 align:start position:0%
talk yesterday that treated this as an
optimization<00:17:26.760><c> problem</c><00:17:27.920><c> I</c><00:17:28.920><c> guess</c><00:17:29.520><c> I'm</c><00:17:29.790><c> curious</c>

00:17:30.880 --> 00:17:30.890 align:start position:0%
optimization problem I guess I'm curious
 

00:17:30.890 --> 00:17:33.799 align:start position:0%
optimization problem I guess I'm curious
what<00:17:31.890><c> the</c><00:17:31.920><c> change</c><00:17:32.280><c> in</c><00:17:32.460><c> efficiency</c><00:17:33.090><c> is</c><00:17:33.210><c> between</c>

00:17:33.799 --> 00:17:33.809 align:start position:0%
what the change in efficiency is between
 

00:17:33.809 --> 00:17:35.630 align:start position:0%
what the change in efficiency is between
the<00:17:33.900><c> optimized</c><00:17:34.320><c> version</c><00:17:34.590><c> and</c><00:17:35.070><c> the</c><00:17:35.220><c> normal</c>

00:17:35.630 --> 00:17:35.640 align:start position:0%
the optimized version and the normal
 

00:17:35.640 --> 00:17:40.190 align:start position:0%
the optimized version and the normal
market<00:17:36.170><c> if</c><00:17:37.170><c> you</c><00:17:37.320><c> know</c><00:17:38.510><c> sorry</c><00:17:39.510><c> in</c><00:17:39.870><c> terms</c><00:17:40.080><c> of</c>

00:17:40.190 --> 00:17:40.200 align:start position:0%
market if you know sorry in terms of
 

00:17:40.200 --> 00:17:44.150 align:start position:0%
market if you know sorry in terms of
like<00:17:40.350><c> yeah</c><00:17:41.070><c> thanks</c><00:17:41.850><c> yes</c><00:17:42.470><c> if</c><00:17:43.470><c> you</c><00:17:43.620><c> could</c><00:17:43.740><c> repeat</c>

00:17:44.150 --> 00:17:44.160 align:start position:0%
like yeah thanks yes if you could repeat
 

00:17:44.160 --> 00:17:45.770 align:start position:0%
like yeah thanks yes if you could repeat
yourself<00:17:44.250><c> I</c><00:17:44.580><c> didn't</c><00:17:44.790><c> quite</c><00:17:44.910><c> hear</c><00:17:45.059><c> the</c><00:17:45.240><c> between</c>

00:17:45.770 --> 00:17:45.780 align:start position:0%
yourself I didn't quite hear the between
 

00:17:45.780 --> 00:17:48.799 align:start position:0%
yourself I didn't quite hear the between
the<00:17:45.929><c> witches</c><00:17:46.110><c> market</c><00:17:46.410><c> and</c><00:17:47.600><c> there</c><00:17:48.600><c> was</c><00:17:48.780><c> a</c>

00:17:48.799 --> 00:17:48.809 align:start position:0%
the witches market and there was a
 

00:17:48.809 --> 00:17:51.220 align:start position:0%
the witches market and there was a
speaker<00:17:49.350><c> from</c><00:17:49.559><c> Berkeley</c><00:17:50.100><c> the</c><00:17:50.250><c> other</c><00:17:50.370><c> day</c><00:17:50.580><c> yeah</c>

00:17:51.220 --> 00:17:51.230 align:start position:0%
speaker from Berkeley the other day yeah
 

00:17:51.230 --> 00:17:53.900 align:start position:0%
speaker from Berkeley the other day yeah
who<00:17:52.230><c> essentially</c><00:17:52.590><c> had</c><00:17:52.830><c> everyone</c><00:17:53.250><c> sort</c><00:17:53.550><c> of</c><00:17:53.640><c> bid</c>

00:17:53.900 --> 00:17:53.910 align:start position:0%
who essentially had everyone sort of bid
 

00:17:53.910 --> 00:17:58.040 align:start position:0%
who essentially had everyone sort of bid
and<00:17:54.270><c> schedule</c><00:17:54.780><c> stuff</c><00:17:56.600><c> and</c><00:17:57.600><c> I</c><00:17:57.660><c> guess</c><00:17:57.780><c> it</c><00:17:57.929><c> sounds</c>

00:17:58.040 --> 00:17:58.050 align:start position:0%
and schedule stuff and I guess it sounds
 

00:17:58.050 --> 00:18:00.320 align:start position:0%
and schedule stuff and I guess it sounds
like<00:17:58.290><c> it's</c><00:17:58.440><c> sort</c><00:17:58.590><c> of</c><00:17:58.620><c> a</c><00:17:58.710><c> real-time</c><00:17:59.100><c> auction</c><00:17:59.580><c> so</c>

00:18:00.320 --> 00:18:00.330 align:start position:0%
like it's sort of a real-time auction so
 

00:18:00.330 --> 00:18:01.520 align:start position:0%
like it's sort of a real-time auction so
I<00:18:00.360><c> think</c><00:18:00.480><c> what</c><00:18:00.780><c> you're</c><00:18:00.900><c> asking</c><00:18:00.929><c> are</c><00:18:01.470><c> you</c>

00:18:01.520 --> 00:18:01.530 align:start position:0%
I think what you're asking are you
 

00:18:01.530 --> 00:18:04.400 align:start position:0%
I think what you're asking are you
asking<00:18:01.940><c> between</c><00:18:02.940><c> the</c><00:18:03.390><c> future</c><00:18:03.809><c> vision</c><00:18:04.170><c> for</c><00:18:04.380><c> a</c>

00:18:04.400 --> 00:18:04.410 align:start position:0%
asking between the future vision for a
 

00:18:04.410 --> 00:18:05.720 align:start position:0%
asking between the future vision for a
network<00:18:04.740><c> like</c><00:18:04.920><c> this</c><00:18:04.950><c> and</c><00:18:05.370><c> what</c><00:18:05.460><c> we</c><00:18:05.550><c> have</c>

00:18:05.720 --> 00:18:05.730 align:start position:0%
network like this and what we have
 

00:18:05.730 --> 00:18:08.270 align:start position:0%
network like this and what we have
currently<00:18:06.000><c> is</c><00:18:06.600><c> it</c><00:18:07.140><c> just</c><00:18:07.350><c> an</c><00:18:07.500><c> optimization</c>

00:18:08.270 --> 00:18:08.280 align:start position:0%
currently is it just an optimization
 

00:18:08.280 --> 00:18:10.610 align:start position:0%
currently is it just an optimization
exercise<00:18:08.760><c> where</c><00:18:09.170><c> values</c><00:18:10.170><c> coming</c><00:18:10.500><c> from</c>

00:18:10.610 --> 00:18:10.620 align:start position:0%
exercise where values coming from
 

00:18:10.620 --> 00:18:12.410 align:start position:0%
exercise where values coming from
efficiency<00:18:11.130><c> savings</c><00:18:11.520><c> because</c><00:18:11.820><c> we</c><00:18:12.210><c> have</c><00:18:12.390><c> a</c>

00:18:12.410 --> 00:18:12.420 align:start position:0%
efficiency savings because we have a
 

00:18:12.420 --> 00:18:14.000 align:start position:0%
efficiency savings because we have a
little<00:18:12.750><c> bit</c><00:18:12.900><c> more</c><00:18:13.020><c> fluidity</c><00:18:13.500><c> in</c><00:18:13.650><c> the</c><00:18:13.710><c> network</c>

00:18:14.000 --> 00:18:14.010 align:start position:0%
little bit more fluidity in the network
 

00:18:14.010 --> 00:18:26.930 align:start position:0%
little bit more fluidity in the network
is<00:18:14.880><c> that</c><00:18:15.030><c> worst</c><00:18:15.179><c> thing</c><00:18:23.420><c> anyone</c><00:18:24.420><c> else</c><00:18:24.660><c> Hey</c><00:18:25.940><c> yeah</c>

00:18:26.930 --> 00:18:26.940 align:start position:0%
is that worst thing anyone else Hey yeah
 

00:18:26.940 --> 00:18:29.240 align:start position:0%
is that worst thing anyone else Hey yeah
well<00:18:27.690><c> thank</c><00:18:27.840><c> you</c><00:18:27.960><c> for</c><00:18:28.230><c> the</c><00:18:28.679><c> talk</c><00:18:28.890><c> I</c><00:18:29.070><c> had</c><00:18:29.190><c> a</c>

00:18:29.240 --> 00:18:29.250 align:start position:0%
well thank you for the talk I had a
 

00:18:29.250 --> 00:18:30.169 align:start position:0%
well thank you for the talk I had a
quick<00:18:29.400><c> question</c><00:18:29.520><c> about</c><00:18:29.760><c> distribution</c>

00:18:30.169 --> 00:18:30.179 align:start position:0%
quick question about distribution
 

00:18:30.179 --> 00:18:31.970 align:start position:0%
quick question about distribution
because<00:18:30.780><c> you</c><00:18:30.870><c> talked</c><00:18:31.020><c> about</c><00:18:31.050><c> production</c><00:18:31.559><c> and</c>

00:18:31.970 --> 00:18:31.980 align:start position:0%
because you talked about production and
 

00:18:31.980 --> 00:18:34.460 align:start position:0%
because you talked about production and
also<00:18:32.250><c> storing</c><00:18:32.670><c> at</c><00:18:32.910><c> the</c><00:18:33.090><c> local</c><00:18:33.480><c> nodes</c><00:18:33.690><c> sure</c><00:18:34.200><c> but</c>

00:18:34.460 --> 00:18:34.470 align:start position:0%
also storing at the local nodes sure but
 

00:18:34.470 --> 00:18:35.810 align:start position:0%
also storing at the local nodes sure but
isn't<00:18:34.770><c> there</c><00:18:34.860><c> an</c><00:18:34.980><c> issue</c><00:18:35.130><c> of</c><00:18:35.400><c> a</c><00:18:35.490><c> distribution</c>

00:18:35.810 --> 00:18:35.820 align:start position:0%
isn't there an issue of a distribution
 

00:18:35.820 --> 00:18:37.730 align:start position:0%
isn't there an issue of a distribution
still<00:18:36.420><c> being</c><00:18:36.660><c> somewhat</c><00:18:36.990><c> centralized</c><00:18:37.440><c> and</c>

00:18:37.730 --> 00:18:37.740 align:start position:0%
still being somewhat centralized and
 

00:18:37.740 --> 00:18:39.890 align:start position:0%
still being somewhat centralized and
also<00:18:38.010><c> in</c><00:18:38.130><c> waterfall</c><00:18:39.030><c> pattern</c><00:18:39.390><c> which</c><00:18:39.690><c> would</c>

00:18:39.890 --> 00:18:39.900 align:start position:0%
also in waterfall pattern which would
 

00:18:39.900 --> 00:18:41.240 align:start position:0%
also in waterfall pattern which would
prevent<00:18:40.230><c> peer-to-peer</c>

00:18:41.240 --> 00:18:41.250 align:start position:0%
prevent peer-to-peer
 

00:18:41.250 --> 00:18:43.820 align:start position:0%
prevent peer-to-peer
send<00:18:42.090><c> and/or</c><00:18:42.630><c> sell</c><00:18:43.110><c> energy</c><00:18:43.440><c> to</c><00:18:43.530><c> my</c><00:18:43.620><c> neighbor</c>

00:18:43.820 --> 00:18:43.830 align:start position:0%
send and/or sell energy to my neighbor
 

00:18:43.830 --> 00:18:44.840 align:start position:0%
send and/or sell energy to my neighbor
kind<00:18:44.160><c> of</c><00:18:44.220><c> thing</c><00:18:44.340><c> because</c><00:18:44.460><c> there's</c><00:18:44.730><c> no</c>

00:18:44.840 --> 00:18:44.850 align:start position:0%
kind of thing because there's no
 

00:18:44.850 --> 00:18:47.180 align:start position:0%
kind of thing because there's no
connection<00:18:45.300><c> there</c><00:18:45.380><c> yeah</c><00:18:46.380><c> right</c><00:18:47.040><c> now</c><00:18:47.130><c> the</c>

00:18:47.180 --> 00:18:47.190 align:start position:0%
connection there yeah right now the
 

00:18:47.190 --> 00:18:48.680 align:start position:0%
connection there yeah right now the
distribution<00:18:47.520><c> grid</c><00:18:47.940><c> is</c><00:18:48.090><c> definitely</c>

00:18:48.680 --> 00:18:48.690 align:start position:0%
distribution grid is definitely
 

00:18:48.690 --> 00:18:50.960 align:start position:0%
distribution grid is definitely
centralized<00:18:49.170><c> and</c><00:18:49.440><c> the</c><00:18:50.040><c> idea</c><00:18:50.370><c> is</c><00:18:50.490><c> to</c><00:18:50.670><c> work</c><00:18:50.760><c> with</c>

00:18:50.960 --> 00:18:50.970 align:start position:0%
centralized and the idea is to work with
 

00:18:50.970 --> 00:18:52.220 align:start position:0%
centralized and the idea is to work with
them<00:18:51.090><c> and</c><00:18:51.270><c> bring</c><00:18:51.420><c> more</c><00:18:51.870><c> and</c><00:18:51.929><c> more</c>

00:18:52.220 --> 00:18:52.230 align:start position:0%
them and bring more and more
 

00:18:52.230 --> 00:18:54.230 align:start position:0%
them and bring more and more
distribution<00:18:53.100><c> grid</c><00:18:53.280><c> owners</c><00:18:53.640><c> on</c><00:18:53.910><c> to</c><00:18:54.150><c> this</c>

00:18:54.230 --> 00:18:54.240 align:start position:0%
distribution grid owners on to this
 

00:18:54.240 --> 00:18:56.390 align:start position:0%
distribution grid owners on to this
network<00:18:54.600><c> and</c><00:18:54.809><c> then</c><00:18:55.080><c> eventually</c><00:18:55.740><c> we</c><00:18:56.040><c> will</c><00:18:56.160><c> to</c>

00:18:56.390 --> 00:18:56.400 align:start position:0%
network and then eventually we will to
 

00:18:56.400 --> 00:18:58.280 align:start position:0%
network and then eventually we will to
decentralize<00:18:56.910><c> the</c><00:18:56.940><c> ownership</c><00:18:57.270><c> of</c><00:18:57.540><c> that</c><00:18:57.570><c> of</c>

00:18:58.280 --> 00:18:58.290 align:start position:0%
decentralize the ownership of that of
 

00:18:58.290 --> 00:18:59.630 align:start position:0%
decentralize the ownership of that of
course<00:18:58.470><c> that's</c><00:18:58.679><c> what</c><00:18:58.830><c> we</c><00:18:58.860><c> all</c><00:18:59.010><c> want</c><00:18:59.250><c> we</c><00:18:59.370><c> want</c><00:18:59.610><c> a</c>

00:18:59.630 --> 00:18:59.640 align:start position:0%
course that's what we all want we want a
 

00:18:59.640 --> 00:19:01.480 align:start position:0%
course that's what we all want we want a
completely<00:18:59.940><c> decentralized</c><00:19:00.300><c> system</c>

00:19:01.480 --> 00:19:01.490 align:start position:0%
completely decentralized system
 

00:19:01.490 --> 00:19:03.970 align:start position:0%
completely decentralized system
but<00:19:01.910><c> enabling</c><00:19:02.660><c> the</c><00:19:03.140><c> current</c><00:19:03.470><c> incumbents</c><00:19:03.920><c> in</c>

00:19:03.970 --> 00:19:03.980 align:start position:0%
but enabling the current incumbents in
 

00:19:03.980 --> 00:19:05.410 align:start position:0%
but enabling the current incumbents in
the<00:19:04.070><c> market</c><00:19:04.400><c> to</c><00:19:04.580><c> start</c><00:19:04.820><c> acting</c><00:19:05.000><c> with</c><00:19:05.300><c> these</c>

00:19:05.410 --> 00:19:05.420 align:start position:0%
the market to start acting with these
 

00:19:05.420 --> 00:19:07.060 align:start position:0%
the market to start acting with these
technologies<00:19:05.750><c> and</c><00:19:06.260><c> profiting</c><00:19:06.710><c> more</c><00:19:06.860><c> from</c>

00:19:07.060 --> 00:19:07.070 align:start position:0%
technologies and profiting more from
 

00:19:07.070 --> 00:19:08.950 align:start position:0%
technologies and profiting more from
these<00:19:07.220><c> is</c><00:19:07.490><c> the</c><00:19:07.910><c> first</c><00:19:08.120><c> step</c><00:19:08.360><c> to</c><00:19:08.600><c> getting</c><00:19:08.780><c> them</c>

00:19:08.950 --> 00:19:08.960 align:start position:0%
these is the first step to getting them
 

00:19:08.960 --> 00:19:10.990 align:start position:0%
these is the first step to getting them
on<00:19:09.080><c> board</c><00:19:09.110><c> to</c><00:19:09.620><c> a</c><00:19:09.650><c> really</c><00:19:09.980><c> truly</c><00:19:10.370><c> decentralized</c>

00:19:10.990 --> 00:19:11.000 align:start position:0%
on board to a really truly decentralized
 

00:19:11.000 --> 00:19:13.600 align:start position:0%
on board to a really truly decentralized
system<00:19:11.300><c> so</c><00:19:12.260><c> then</c><00:19:12.770><c> yeah</c><00:19:13.010><c> you're</c><00:19:13.160><c> completely</c>

00:19:13.600 --> 00:19:13.610 align:start position:0%
system so then yeah you're completely
 

00:19:13.610 --> 00:19:15.400 align:start position:0%
system so then yeah you're completely
right<00:19:13.820><c> that</c><00:19:13.850><c> it</c><00:19:14.120><c> is</c><00:19:14.210><c> still</c><00:19:14.510><c> centralized</c><00:19:15.050><c> in</c>

00:19:15.400 --> 00:19:15.410 align:start position:0%
right that it is still centralized in
 

00:19:15.410 --> 00:19:17.799 align:start position:0%
right that it is still centralized in
that<00:19:15.590><c> there's</c><00:19:16.130><c> generally</c><00:19:16.790><c> one</c><00:19:16.820><c> monopoly</c><00:19:17.660><c> in</c>

00:19:17.799 --> 00:19:17.809 align:start position:0%
that there's generally one monopoly in
 

00:19:17.809 --> 00:19:19.960 align:start position:0%
that there's generally one monopoly in
the<00:19:17.960><c> state</c><00:19:18.200><c> like</c><00:19:18.380><c> most</c><00:19:19.100><c> of</c><00:19:19.250><c> California</c><00:19:19.820><c> or</c><00:19:19.940><c> a</c>

00:19:19.960 --> 00:19:19.970 align:start position:0%
the state like most of California or a
 

00:19:19.970 --> 00:19:23.530 align:start position:0%
the state like most of California or a
state<00:19:20.210><c> like</c><00:19:20.330><c> Colorado</c><00:19:21.160><c> where</c><00:19:22.179><c> one</c><00:19:23.179><c> company</c>

00:19:23.530 --> 00:19:23.540 align:start position:0%
state like Colorado where one company
 

00:19:23.540 --> 00:19:25.260 align:start position:0%
state like Colorado where one company
often<00:19:23.690><c> owns</c><00:19:23.929><c> the</c><00:19:24.080><c> entire</c><00:19:24.320><c> distribution</c><00:19:24.710><c> grid</c>

00:19:25.260 --> 00:19:25.270 align:start position:0%
often owns the entire distribution grid
 

00:19:25.270 --> 00:19:27.700 align:start position:0%
often owns the entire distribution grid
so<00:19:26.270><c> yeah</c><00:19:26.690><c> we</c><00:19:26.960><c> hope</c><00:19:27.080><c> that</c><00:19:27.230><c> will</c><00:19:27.350><c> change</c><00:19:27.380><c> over</c>

00:19:27.700 --> 00:19:27.710 align:start position:0%
so yeah we hope that will change over
 

00:19:27.710 --> 00:19:30.310 align:start position:0%
so yeah we hope that will change over
time<00:19:27.860><c> yeah</c><00:19:28.550><c> there</c><00:19:29.090><c> are</c><00:19:29.179><c> physical</c><00:19:29.690><c> limitation</c>

00:19:30.310 --> 00:19:30.320 align:start position:0%
time yeah there are physical limitation
 

00:19:30.320 --> 00:19:33.690 align:start position:0%
time yeah there are physical limitation
by<00:19:30.530><c> the</c><00:19:30.590><c> fact</c><00:19:30.860><c> that</c><00:19:31.040><c> you</c><00:19:31.970><c> can't</c><00:19:32.300><c> actually</c><00:19:32.600><c> even</c>

00:19:33.690 --> 00:19:33.700 align:start position:0%
by the fact that you can't actually even
 

00:19:33.700 --> 00:19:36.640 align:start position:0%
by the fact that you can't actually even
send<00:19:34.700><c> energy</c><00:19:34.910><c> from</c><00:19:35.300><c> your</c><00:19:35.450><c> home</c><00:19:35.660><c> so</c><00:19:36.320><c> because</c>

00:19:36.640 --> 00:19:36.650 align:start position:0%
send energy from your home so because
 

00:19:36.650 --> 00:19:38.980 align:start position:0%
send energy from your home so because
there's<00:19:36.830><c> no</c><00:19:36.890><c> so</c><00:19:37.880><c> it</c><00:19:37.970><c> depends</c><00:19:38.300><c> I</c><00:19:38.600><c> think</c><00:19:38.750><c> we're</c>

00:19:38.980 --> 00:19:38.990 align:start position:0%
there's no so it depends I think we're
 

00:19:38.990 --> 00:19:40.900 align:start position:0%
there's no so it depends I think we're
saying<00:19:39.170><c> is</c><00:19:39.350><c> so</c><00:19:39.550><c> there's</c><00:19:40.550><c> we've</c><00:19:40.760><c> got</c>

00:19:40.900 --> 00:19:40.910 align:start position:0%
saying is so there's we've got
 

00:19:40.910 --> 00:19:42.669 align:start position:0%
saying is so there's we've got
deregulated<00:19:41.600><c> markets</c><00:19:42.020><c> and</c><00:19:42.200><c> regulated</c>

00:19:42.669 --> 00:19:42.679 align:start position:0%
deregulated markets and regulated
 

00:19:42.679 --> 00:19:44.740 align:start position:0%
deregulated markets and regulated
markets<00:19:43.040><c> which</c><00:19:43.190><c> will</c><00:19:43.370><c> allow</c><00:19:43.750><c> generators</c>

00:19:44.740 --> 00:19:44.750 align:start position:0%
markets which will allow generators
 

00:19:44.750 --> 00:19:47.410 align:start position:0%
markets which will allow generators
access<00:19:45.230><c> on</c><00:19:45.410><c> or</c><00:19:45.800><c> off</c><00:19:45.980><c> the</c><00:19:46.160><c> network</c><00:19:46.370><c> and</c><00:19:46.790><c> that</c><00:19:47.240><c> is</c>

00:19:47.410 --> 00:19:47.420 align:start position:0%
access on or off the network and that is
 

00:19:47.420 --> 00:19:48.880 align:start position:0%
access on or off the network and that is
split<00:19:47.750><c> in</c><00:19:47.870><c> two</c><00:19:47.900><c> you've</c><00:19:48.440><c> obviously</c><00:19:48.530><c> got</c><00:19:48.860><c> the</c>

00:19:48.880 --> 00:19:48.890 align:start position:0%
split in two you've obviously got the
 

00:19:48.890 --> 00:19:50.230 align:start position:0%
split in two you've obviously got the
generator<00:19:49.280><c> you've</c><00:19:49.520><c> got</c><00:19:49.640><c> the</c><00:19:49.700><c> transmitter</c>

00:19:50.230 --> 00:19:50.240 align:start position:0%
generator you've got the transmitter
 

00:19:50.240 --> 00:19:51.460 align:start position:0%
generator you've got the transmitter
which<00:19:50.450><c> is</c><00:19:50.570><c> your</c><00:19:50.690><c> D&amp;O</c><00:19:51.050><c> or</c><00:19:51.200><c> your</c><00:19:51.290><c> local</c>

00:19:51.460 --> 00:19:51.470 align:start position:0%
which is your D&amp;O or your local
 

00:19:51.470 --> 00:19:52.840 align:start position:0%
which is your D&amp;O or your local
operation<00:19:51.980><c> which</c><00:19:52.100><c> is</c><00:19:52.190><c> your</c><00:19:52.280><c> powerlines</c><00:19:52.700><c> you</c>

00:19:52.840 --> 00:19:52.850 align:start position:0%
operation which is your powerlines you
 

00:19:52.850 --> 00:19:54.070 align:start position:0%
operation which is your powerlines you
then<00:19:52.970><c> got</c><00:19:53.120><c> the</c><00:19:53.210><c> utility</c><00:19:53.660><c> on</c><00:19:53.690><c> the</c><00:19:53.870><c> end</c><00:19:53.990><c> which</c>

00:19:54.070 --> 00:19:54.080 align:start position:0%
then got the utility on the end which
 

00:19:54.080 --> 00:19:56.169 align:start position:0%
then got the utility on the end which
you'll<00:19:54.230><c> retail</c><00:19:54.679><c> side</c><00:19:54.950><c> of</c><00:19:55.100><c> it</c><00:19:55.220><c> now</c><00:19:55.910><c> what</c><00:19:56.059><c> you're</c>

00:19:56.169 --> 00:19:56.179 align:start position:0%
you'll retail side of it now what you're
 

00:19:56.179 --> 00:19:59.230 align:start position:0%
you'll retail side of it now what you're
saying<00:19:56.360><c> is</c><00:19:56.510><c> that</c><00:19:57.160><c> bit</c><00:19:58.160><c> in</c><00:19:58.280><c> the</c><00:19:58.309><c> middle</c><00:19:58.670><c> which</c>

00:19:59.230 --> 00:19:59.240 align:start position:0%
saying is that bit in the middle which
 

00:19:59.240 --> 00:20:01.330 align:start position:0%
saying is that bit in the middle which
is<00:19:59.450><c> generally</c><00:20:00.260><c> controlled</c><00:20:00.860><c> in</c><00:20:01.100><c> non</c>

00:20:01.330 --> 00:20:01.340 align:start position:0%
is generally controlled in non
 

00:20:01.340 --> 00:20:03.760 align:start position:0%
is generally controlled in non
deregulated<00:20:02.120><c> markets</c><00:20:02.630><c> in</c><00:20:02.780><c> regulated</c><00:20:03.440><c> markets</c>

00:20:03.760 --> 00:20:03.770 align:start position:0%
deregulated markets in regulated markets
 

00:20:03.770 --> 00:20:07.990 align:start position:0%
deregulated markets in regulated markets
the<00:20:03.920><c> likes</c><00:20:04.220><c> of</c><00:20:04.429><c> Colorado</c><00:20:04.929><c> that</c><00:20:06.610><c> is</c><00:20:07.610><c> something</c>

00:20:07.990 --> 00:20:08.000 align:start position:0%
the likes of Colorado that is something
 

00:20:08.000 --> 00:20:09.760 align:start position:0%
the likes of Colorado that is something
that<00:20:08.179><c> if</c><00:20:08.360><c> you</c><00:20:08.630><c> want</c><00:20:08.780><c> to</c><00:20:08.960><c> supply</c><00:20:09.140><c> it</c><00:20:09.260><c> directly</c>

00:20:09.760 --> 00:20:09.770 align:start position:0%
that if you want to supply it directly
 

00:20:09.770 --> 00:20:11.530 align:start position:0%
that if you want to supply it directly
then<00:20:10.010><c> user</c><00:20:10.280><c> you</c><00:20:10.429><c> can't</c><00:20:10.640><c> if</c><00:20:10.910><c> you</c><00:20:11.300><c> want</c><00:20:11.480><c> to</c>

00:20:11.530 --> 00:20:11.540 align:start position:0%
then user you can't if you want to
 

00:20:11.540 --> 00:20:12.910 align:start position:0%
then user you can't if you want to
supply<00:20:11.720><c> it</c><00:20:11.840><c> direct</c><00:20:12.080><c> to</c><00:20:12.110><c> the</c><00:20:12.260><c> energy</c><00:20:12.620><c> provider</c>

00:20:12.910 --> 00:20:12.920 align:start position:0%
supply it direct to the energy provider
 

00:20:12.920 --> 00:20:14.799 align:start position:0%
supply it direct to the energy provider
and<00:20:13.220><c> they</c><00:20:13.460><c> will</c><00:20:13.610><c> pay</c><00:20:13.760><c> you</c><00:20:13.820><c> a</c><00:20:13.910><c> pretty</c><00:20:14.210><c> poor</c><00:20:14.480><c> rate</c>

00:20:14.799 --> 00:20:14.809 align:start position:0%
and they will pay you a pretty poor rate
 

00:20:14.809 --> 00:20:16.960 align:start position:0%
and they will pay you a pretty poor rate
for<00:20:15.140><c> that</c><00:20:15.200><c> energy</c><00:20:15.679><c> then</c><00:20:16.160><c> you</c><00:20:16.280><c> can</c><00:20:16.429><c> also</c><00:20:16.610><c> do</c>

00:20:16.960 --> 00:20:16.970 align:start position:0%
for that energy then you can also do
 

00:20:16.970 --> 00:20:18.220 align:start position:0%
for that energy then you can also do
that<00:20:17.150><c> and</c><00:20:17.270><c> it's</c><00:20:17.360><c> then</c><00:20:17.510><c> bundled</c><00:20:17.750><c> up</c><00:20:17.960><c> in</c><00:20:18.110><c> their</c>

00:20:18.220 --> 00:20:18.230 align:start position:0%
that and it's then bundled up in their
 

00:20:18.230 --> 00:20:20.620 align:start position:0%
that and it's then bundled up in their
package<00:20:18.620><c> what</c><00:20:19.520><c> I</c><00:20:19.550><c> think</c><00:20:19.880><c> this</c><00:20:20.120><c> is</c><00:20:20.270><c> going</c><00:20:20.390><c> to</c><00:20:20.450><c> do</c>

00:20:20.620 --> 00:20:20.630 align:start position:0%
package what I think this is going to do
 

00:20:20.630 --> 00:20:22.270 align:start position:0%
package what I think this is going to do
it's<00:20:20.780><c> going</c><00:20:20.900><c> to</c><00:20:20.960><c> increase</c><00:20:21.230><c> competition</c><00:20:21.740><c> in</c>

00:20:22.270 --> 00:20:22.280 align:start position:0%
it's going to increase competition in
 

00:20:22.280 --> 00:20:24.660 align:start position:0%
it's going to increase competition in
markets<00:20:23.000><c> where</c><00:20:23.480><c> there</c><00:20:24.260><c> is</c><00:20:24.440><c> already</c>

00:20:24.660 --> 00:20:24.670 align:start position:0%
markets where there is already
 

00:20:24.670 --> 00:20:26.950 align:start position:0%
markets where there is already
deregulation<00:20:25.670><c> like</c><00:20:25.880><c> Europe</c><00:20:26.300><c> like</c><00:20:26.450><c> the</c><00:20:26.600><c> UK</c>

00:20:26.950 --> 00:20:26.960 align:start position:0%
deregulation like Europe like the UK
 

00:20:26.960 --> 00:20:28.480 align:start position:0%
deregulation like Europe like the UK
like<00:20:27.470><c> these</c><00:20:27.650><c> particular</c><00:20:27.950><c> states</c><00:20:28.340><c> in</c>

00:20:28.480 --> 00:20:28.490 align:start position:0%
like these particular states in
 

00:20:28.490 --> 00:20:31.210 align:start position:0%
like these particular states in
California<00:20:29.120><c> and</c><00:20:29.740><c> what</c><00:20:30.740><c> it</c><00:20:30.860><c> needs</c><00:20:30.920><c> to</c><00:20:31.070><c> be</c><00:20:31.160><c> it</c>

00:20:31.210 --> 00:20:31.220 align:start position:0%
California and what it needs to be it
 

00:20:31.220 --> 00:20:33.480 align:start position:0%
California and what it needs to be it
needs<00:20:31.250><c> to</c><00:20:31.400><c> be</c><00:20:31.460><c> a</c><00:20:31.490><c> community</c><00:20:32.059><c> effort</c><00:20:32.480><c> to</c>

00:20:33.480 --> 00:20:33.490 align:start position:0%
needs to be a community effort to
 

00:20:33.490 --> 00:20:36.250 align:start position:0%
needs to be a community effort to
influence<00:20:34.490><c> and</c><00:20:34.730><c> lobby</c><00:20:34.970><c> as</c><00:20:35.270><c> well</c><00:20:35.330><c> through</c>

00:20:36.250 --> 00:20:36.260 align:start position:0%
influence and lobby as well through
 

00:20:36.260 --> 00:20:38.140 align:start position:0%
influence and lobby as well through
relationships<00:20:37.130><c> like</c><00:20:37.280><c> energy</c><00:20:37.670><c> whoever</c><00:20:37.850><c> doing</c>

00:20:38.140 --> 00:20:38.150 align:start position:0%
relationships like energy whoever doing
 

00:20:38.150 --> 00:20:40.030 align:start position:0%
relationships like energy whoever doing
like<00:20:38.330><c> bringing</c><00:20:38.630><c> together</c><00:20:38.870><c> a</c><00:20:39.110><c> consortium</c><00:20:39.679><c> to</c>

00:20:40.030 --> 00:20:40.040 align:start position:0%
like bringing together a consortium to
 

00:20:40.040 --> 00:20:42.100 align:start position:0%
like bringing together a consortium to
all<00:20:40.309><c> view</c><00:20:40.550><c> this</c><00:20:40.670><c> through</c><00:20:40.880><c> the</c><00:20:41.000><c> lens</c><00:20:41.120><c> of</c><00:20:41.360><c> this</c>

00:20:42.100 --> 00:20:42.110 align:start position:0%
all view this through the lens of this
 

00:20:42.110 --> 00:20:43.900 align:start position:0%
all view this through the lens of this
is<00:20:42.260><c> the</c><00:20:42.380><c> future</c><00:20:42.830><c> these</c><00:20:42.980><c> companies</c><00:20:43.460><c> all</c><00:20:43.640><c> want</c>

00:20:43.900 --> 00:20:43.910 align:start position:0%
is the future these companies all want
 

00:20:43.910 --> 00:20:45.450 align:start position:0%
is the future these companies all want
smart<00:20:44.210><c> grids</c><00:20:44.510><c> they're</c><00:20:44.750><c> struggling</c><00:20:45.080><c> to</c>

00:20:45.450 --> 00:20:45.460 align:start position:0%
smart grids they're struggling to
 

00:20:45.460 --> 00:20:48.070 align:start position:0%
smart grids they're struggling to
understand<00:20:46.460><c> how</c><00:20:46.640><c> to</c><00:20:46.670><c> do</c><00:20:46.970><c> that</c><00:20:47.150><c> and</c><00:20:47.510><c> if</c><00:20:47.840><c> you</c><00:20:47.929><c> can</c>

00:20:48.070 --> 00:20:48.080 align:start position:0%
understand how to do that and if you can
 

00:20:48.080 --> 00:20:51.040 align:start position:0%
understand how to do that and if you can
place<00:20:48.350><c> their</c><00:20:48.650><c> weaknesses</c><00:20:49.130><c> with</c><00:20:49.400><c> giving</c><00:20:50.360><c> them</c>

00:20:51.040 --> 00:20:51.050 align:start position:0%
place their weaknesses with giving them
 

00:20:51.050 --> 00:20:52.870 align:start position:0%
place their weaknesses with giving them
sort<00:20:51.380><c> of</c><00:20:51.500><c> power</c><00:20:51.800><c> in</c><00:20:52.010><c> areas</c><00:20:52.340><c> where</c><00:20:52.520><c> they</c>

00:20:52.870 --> 00:20:52.880 align:start position:0%
sort of power in areas where they
 

00:20:52.880 --> 00:20:54.130 align:start position:0%
sort of power in areas where they
currently<00:20:53.030><c> don't</c><00:20:53.330><c> have</c><00:20:53.480><c> it</c><00:20:53.720><c> where</c><00:20:53.870><c> they</c><00:20:53.960><c> have</c>

00:20:54.130 --> 00:20:54.140 align:start position:0%
currently don't have it where they have
 

00:20:54.140 --> 00:20:55.510 align:start position:0%
currently don't have it where they have
these<00:20:54.290><c> deficiencies</c><00:20:54.950><c> where</c><00:20:55.220><c> they</c><00:20:55.309><c> need</c><00:20:55.429><c> to</c>

00:20:55.510 --> 00:20:55.520 align:start position:0%
these deficiencies where they need to
 

00:20:55.520 --> 00:20:57.820 align:start position:0%
these deficiencies where they need to
top<00:20:55.670><c> it</c><00:20:55.790><c> up</c><00:20:56.320><c> it's</c><00:20:57.320><c> all</c><00:20:57.500><c> about</c><00:20:57.620><c> working</c>

00:20:57.820 --> 00:20:57.830 align:start position:0%
top it up it's all about working
 

00:20:57.830 --> 00:20:59.950 align:start position:0%
top it up it's all about working
together<00:20:58.160><c> and</c><00:20:58.580><c> understanding</c><00:20:59.480><c> where</c><00:20:59.929><c> to</c>

00:20:59.950 --> 00:20:59.960 align:start position:0%
together and understanding where to
 

00:20:59.960 --> 00:21:00.490 align:start position:0%
together and understanding where to
start

00:21:00.490 --> 00:21:00.500 align:start position:0%
start
 

00:21:00.500 --> 00:21:02.470 align:start position:0%
start
and<00:21:00.620><c> like</c><00:21:01.100><c> them</c><00:21:01.340><c> where</c><00:21:01.550><c> to</c><00:21:01.700><c> influence</c><00:21:02.150><c> to</c><00:21:02.300><c> move</c>

00:21:02.470 --> 00:21:02.480 align:start position:0%
and like them where to influence to move
 

00:21:02.480 --> 00:21:05.530 align:start position:0%
and like them where to influence to move
forward<00:21:02.870><c> but</c><00:21:03.080><c> I</c><00:21:03.820><c> think</c><00:21:04.820><c> there</c><00:21:05.240><c> will</c><00:21:05.300><c> be</c><00:21:05.360><c> more</c>

00:21:05.530 --> 00:21:05.540 align:start position:0%
forward but I think there will be more
 

00:21:05.540 --> 00:21:07.750 align:start position:0%
forward but I think there will be more
power<00:21:05.840><c> at</c><00:21:06.140><c> least</c><00:21:06.320><c> from</c><00:21:06.679><c> this</c><00:21:06.860><c> in</c><00:21:07.100><c> the</c><00:21:07.250><c> hands</c><00:21:07.640><c> of</c>

00:21:07.750 --> 00:21:07.760 align:start position:0%
power at least from this in the hands of
 

00:21:07.760 --> 00:21:09.520 align:start position:0%
power at least from this in the hands of
the<00:21:07.880><c> operators</c><00:21:08.420><c> that</c><00:21:08.450><c> are</c><00:21:08.780><c> building</c>

00:21:09.520 --> 00:21:09.530 align:start position:0%
the operators that are building
 

00:21:09.530 --> 00:21:12.100 align:start position:0%
the operators that are building
infrastructure<00:21:10.040><c> like</c><00:21:10.720><c> independently</c><00:21:11.720><c> than</c>

00:21:12.100 --> 00:21:12.110 align:start position:0%
infrastructure like independently than
 

00:21:12.110 --> 00:21:14.780 align:start position:0%
infrastructure like independently than
what<00:21:12.290><c> they're</c><00:21:12.410><c> currently</c><00:21:12.440><c> is</c>

00:21:14.780 --> 00:21:14.790 align:start position:0%
what they're currently is
 

00:21:14.790 --> 00:21:18.650 align:start position:0%
what they're currently is
I<00:21:15.260><c> just</c><00:21:16.260><c> had</c><00:21:16.380><c> a</c><00:21:16.410><c> quick</c><00:21:16.860><c> question</c><00:21:17.180><c> about</c><00:21:18.180><c> the</c>

00:21:18.650 --> 00:21:18.660 align:start position:0%
I just had a quick question about the
 

00:21:18.660 --> 00:21:21.620 align:start position:0%
I just had a quick question about the
proof<00:21:19.380><c> of</c><00:21:19.530><c> authority</c><00:21:20.070><c> chain</c><00:21:20.340><c> sure</c>

00:21:21.620 --> 00:21:21.630 align:start position:0%
proof of authority chain sure
 

00:21:21.630 --> 00:21:24.980 align:start position:0%
proof of authority chain sure
how<00:21:22.470><c> are</c><00:21:22.830><c> like</c><00:21:23.190><c> users</c><00:21:23.670><c> expected</c><00:21:24.270><c> to</c><00:21:24.420><c> pay</c><00:21:24.630><c> gas</c>

00:21:24.980 --> 00:21:24.990 align:start position:0%
how are like users expected to pay gas
 

00:21:24.990 --> 00:21:27.230 align:start position:0%
how are like users expected to pay gas
costs<00:21:25.530><c> why</c><00:21:25.860><c> would</c><00:21:26.040><c> they</c><00:21:26.160><c> get</c><00:21:26.310><c> ether</c><00:21:26.730><c> to</c><00:21:27.060><c> pay</c>

00:21:27.230 --> 00:21:27.240 align:start position:0%
costs why would they get ether to pay
 

00:21:27.240 --> 00:21:31.070 align:start position:0%
costs why would they get ether to pay
for<00:21:27.450><c> the</c><00:21:27.510><c> gas</c><00:21:27.630><c> costs</c><00:21:28.370><c> right</c><00:21:29.370><c> now</c><00:21:29.400><c> users</c><00:21:30.090><c> in</c><00:21:30.660><c> the</c>

00:21:31.070 --> 00:21:31.080 align:start position:0%
for the gas costs right now users in the
 

00:21:31.080 --> 00:21:32.390 align:start position:0%
for the gas costs right now users in the
test<00:21:31.260><c> network</c><00:21:31.560><c> gets</c><00:21:31.710><c> handed</c><00:21:31.920><c> out</c><00:21:32.010><c> for</c><00:21:32.130><c> free</c><00:21:32.310><c> of</c>

00:21:32.390 --> 00:21:32.400 align:start position:0%
test network gets handed out for free of
 

00:21:32.400 --> 00:21:34.220 align:start position:0%
test network gets handed out for free of
course<00:21:32.580><c> in</c><00:21:33.330><c> the</c><00:21:33.480><c> phone</c><00:21:33.630><c> network</c><00:21:33.780><c> we're</c><00:21:34.080><c> still</c>

00:21:34.220 --> 00:21:34.230 align:start position:0%
course in the phone network we're still
 

00:21:34.230 --> 00:21:35.090 align:start position:0%
course in the phone network we're still
figuring<00:21:34.470><c> out</c><00:21:34.560><c> the</c><00:21:34.650><c> governance</c><00:21:35.010><c> principles</c>

00:21:35.090 --> 00:21:35.100 align:start position:0%
figuring out the governance principles
 

00:21:35.100 --> 00:21:37.220 align:start position:0%
figuring out the governance principles
and<00:21:35.580><c> stuff</c><00:21:35.760><c> we're</c><00:21:35.940><c> not</c><00:21:36.030><c> launching</c><00:21:36.180><c> the</c><00:21:36.600><c> main</c>

00:21:37.220 --> 00:21:37.230 align:start position:0%
and stuff we're not launching the main
 

00:21:37.230 --> 00:21:38.720 align:start position:0%
and stuff we're not launching the main
Network<00:21:37.590><c> the</c><00:21:37.800><c> Genesis</c><00:21:38.160><c> flock</c><00:21:38.340><c> will</c><00:21:38.490><c> be</c><00:21:38.580><c> in</c><00:21:38.640><c> the</c>

00:21:38.720 --> 00:21:38.730 align:start position:0%
Network the Genesis flock will be in the
 

00:21:38.730 --> 00:21:41.240 align:start position:0%
Network the Genesis flock will be in the
beginning<00:21:38.820><c> of</c><00:21:39.030><c> 2019</c><00:21:39.770><c> we're</c><00:21:40.770><c> still</c><00:21:41.010><c> in</c><00:21:41.130><c> an</c>

00:21:41.240 --> 00:21:41.250 align:start position:0%
beginning of 2019 we're still in an
 

00:21:41.250 --> 00:21:42.800 align:start position:0%
beginning of 2019 we're still in an
exploratory<00:21:41.520><c> phase</c><00:21:41.970><c> figuring</c><00:21:42.390><c> out</c><00:21:42.450><c> exactly</c>

00:21:42.800 --> 00:21:42.810 align:start position:0%
exploratory phase figuring out exactly
 

00:21:42.810 --> 00:21:45.860 align:start position:0%
exploratory phase figuring out exactly
the<00:21:42.930><c> best</c><00:21:43.170><c> mechanisms</c><00:21:43.710><c> for</c><00:21:43.950><c> that</c><00:21:44.390><c> but</c><00:21:45.390><c> right</c>

00:21:45.860 --> 00:21:45.870 align:start position:0%
the best mechanisms for that but right
 

00:21:45.870 --> 00:21:47.690 align:start position:0%
the best mechanisms for that but right
now<00:21:45.930><c> the</c><00:21:46.080><c> idea</c><00:21:46.350><c> is</c><00:21:46.440><c> you</c><00:21:46.680><c> you</c><00:21:47.100><c> purchase</c><00:21:47.460><c> it</c><00:21:47.580><c> like</c>

00:21:47.690 --> 00:21:47.700 align:start position:0%
now the idea is you you purchase it like
 

00:21:47.700 --> 00:21:52.520 align:start position:0%
now the idea is you you purchase it like
you'd<00:21:47.850><c> purchase</c><00:21:48.600><c> either</c><00:21:49.610><c> okay</c><00:21:50.640><c> thanks</c><00:21:51.530><c> okay</c>

00:21:52.520 --> 00:21:52.530 align:start position:0%
you'd purchase either okay thanks okay
 

00:21:52.530 --> 00:21:55.100 align:start position:0%
you'd purchase either okay thanks okay
got<00:21:52.890><c> you</c><00:21:53.330><c> great</c><00:21:54.330><c> all</c><00:21:54.600><c> right</c><00:21:54.630><c> well</c><00:21:54.900><c> thanks</c>

00:21:55.100 --> 00:21:55.110 align:start position:0%
got you great all right well thanks
 

00:21:55.110 --> 00:21:57.170 align:start position:0%
got you great all right well thanks
everybody<00:21:55.320><c> thanks</c><00:21:55.650><c> guys</c>

00:21:57.170 --> 00:21:57.180 align:start position:0%
everybody thanks guys
 

00:21:57.180 --> 00:22:03.040 align:start position:0%
everybody thanks guys
[Applause]

00:22:03.040 --> 00:22:03.050 align:start position:0%
 
 

00:22:03.050 --> 00:22:11.530 align:start position:0%
 
[Music]