WEBVTT Kind: captions Language: en 00:00:05.070 --> 00:00:14.910 align:start position:0% [Music] 00:00:14.910 --> 00:00:14.920 align:start position:0% 00:00:14.920 --> 00:00:19.390 align:start position:0% [Music] 00:00:19.390 --> 00:00:19.400 align:start position:0% 00:00:19.400 --> 00:00:21.950 align:start position:0% transactive<00:00:19.960> grid<00:00:20.240> is<00:00:20.400> a<00:00:20.760> uh<00:00:21.240> is<00:00:21.400> a<00:00:21.600> joint 00:00:21.950 --> 00:00:21.960 align:start position:0% transactive grid is a uh is a joint 00:00:21.960 --> 00:00:27.029 align:start position:0% transactive grid is a uh is a joint venture<00:00:22.720> between 00:00:27.029 --> 00:00:27.039 align:start position:0% 00:00:27.039 --> 00:00:30.429 align:start position:0% sure<00:00:28.039> can<00:00:28.160> you<00:00:28.279> hear<00:00:28.439> me<00:00:29.039> okay<00:00:30.000> is<00:00:30.119> a<00:00:30.199> joint 00:00:30.429 --> 00:00:30.439 align:start position:0% sure can you hear me okay is a joint 00:00:30.439 --> 00:00:32.470 align:start position:0% sure can you hear me okay is a joint venture<00:00:30.759> between<00:00:31.160> consensus<00:00:31.759> and<00:00:31.920> low<00:00:32.200> three 00:00:32.470 --> 00:00:32.480 align:start position:0% venture between consensus and low three 00:00:32.480 --> 00:00:33.950 align:start position:0% venture between consensus and low three energy<00:00:33.079> I<00:00:33.200> think<00:00:33.320> you<00:00:33.440> all<00:00:33.600> know<00:00:33.800> who 00:00:33.950 --> 00:00:33.960 align:start position:0% energy I think you all know who 00:00:33.960 --> 00:00:37.350 align:start position:0% energy I think you all know who consensus<00:00:34.520> is<00:00:35.320> uh<00:00:35.480> low<00:00:35.760> three<00:00:36.000> energy<00:00:36.960> is<00:00:37.120> an 00:00:37.350 --> 00:00:37.360 align:start position:0% consensus is uh low three energy is an 00:00:37.360 --> 00:00:39.389 align:start position:0% consensus is uh low three energy is an energy<00:00:38.079> uh<00:00:38.200> development<00:00:38.640> firm<00:00:39.120> what<00:00:39.239> we're 00:00:39.389 --> 00:00:39.399 align:start position:0% energy uh development firm what we're 00:00:39.399 --> 00:00:42.709 align:start position:0% energy uh development firm what we're doing<00:00:39.680> is<00:00:40.000> uh<00:00:40.719> building<00:00:41.239> micro<00:00:41.680> grids<00:00:42.559> uh 00:00:42.709 --> 00:00:42.719 align:start position:0% doing is uh building micro grids uh 00:00:42.719 --> 00:00:44.670 align:start position:0% doing is uh building micro grids uh small<00:00:43.079> versions<00:00:43.440> of<00:00:43.600> utility<00:00:43.960> grids<00:00:44.239> that<00:00:44.360> can 00:00:44.670 --> 00:00:44.680 align:start position:0% small versions of utility grids that can 00:00:44.680 --> 00:00:48.310 align:start position:0% small versions of utility grids that can operate<00:00:45.680> uh<00:00:46.280> alongside<00:00:47.199> or<00:00:47.480> separate<00:00:48.160> from 00:00:48.310 --> 00:00:48.320 align:start position:0% operate uh alongside or separate from 00:00:48.320 --> 00:00:50.310 align:start position:0% operate uh alongside or separate from the<00:00:48.440> larger<00:00:48.760> utility 00:00:50.310 --> 00:00:50.320 align:start position:0% the larger utility 00:00:50.320 --> 00:00:52.950 align:start position:0% the larger utility grid<00:00:51.320> so<00:00:51.480> there's<00:00:51.680> really<00:00:51.879> good<00:00:52.079> reasons<00:00:52.840> uh 00:00:52.950 --> 00:00:52.960 align:start position:0% grid so there's really good reasons uh 00:00:52.960 --> 00:00:55.229 align:start position:0% grid so there's really good reasons uh to<00:00:53.120> want<00:00:53.280> to<00:00:53.399> build<00:00:53.680> microG<00:00:54.120> grids<00:00:54.920> uh<00:00:55.039> first 00:00:55.229 --> 00:00:55.239 align:start position:0% to want to build microG grids uh first 00:00:55.239 --> 00:00:57.549 align:start position:0% to want to build microG grids uh first and<00:00:55.440> foremost<00:00:56.160> the<00:00:56.399> um<00:00:56.760> the<00:00:56.960> cost<00:00:57.399> of 00:00:57.549 --> 00:00:57.559 align:start position:0% and foremost the um the cost of 00:00:57.559 --> 00:00:59.270 align:start position:0% and foremost the um the cost of renewable<00:00:58.000> energy<00:00:58.320> is<00:00:58.559> actually<00:00:58.800> reaching<00:00:59.120> a 00:00:59.270 --> 00:00:59.280 align:start position:0% renewable energy is actually reaching a 00:00:59.280 --> 00:01:00.910 align:start position:0% renewable energy is actually reaching a point<00:00:59.480> where<00:00:59.600> it's<00:01:00.000> competitive<00:01:00.719> with 00:01:00.910 --> 00:01:00.920 align:start position:0% point where it's competitive with 00:01:00.920 --> 00:01:03.830 align:start position:0% point where it's competitive with centralized<00:01:01.480> energy<00:01:02.280> but<00:01:02.440> more<00:01:02.840> importantly 00:01:03.830 --> 00:01:03.840 align:start position:0% centralized energy but more importantly 00:01:03.840 --> 00:01:06.109 align:start position:0% centralized energy but more importantly um<00:01:04.119> things<00:01:04.400> like<00:01:04.640> this<00:01:04.839> happen<00:01:05.640> Hurricane 00:01:06.109 --> 00:01:06.119 align:start position:0% um things like this happen Hurricane 00:01:06.119 --> 00:01:08.109 align:start position:0% um things like this happen Hurricane Sandy<00:01:06.560> came<00:01:06.720> through<00:01:06.920> New<00:01:07.080> York<00:01:07.600> a<00:01:07.720> couple<00:01:08.000> of 00:01:08.109 --> 00:01:08.119 align:start position:0% Sandy came through New York a couple of 00:01:08.119 --> 00:01:09.789 align:start position:0% Sandy came through New York a couple of years<00:01:08.320> ago<00:01:08.600> knocked<00:01:08.920> out<00:01:09.119> big<00:01:09.280> chunks<00:01:09.600> of<00:01:09.720> the 00:01:09.789 --> 00:01:09.799 align:start position:0% years ago knocked out big chunks of the 00:01:09.799 --> 00:01:11.630 align:start position:0% years ago knocked out big chunks of the utility<00:01:10.240> grid<00:01:10.880> you<00:01:10.960> can<00:01:11.080> see<00:01:11.240> that<00:01:11.400> most<00:01:11.520> of 00:01:11.630 --> 00:01:11.640 align:start position:0% utility grid you can see that most of 00:01:11.640 --> 00:01:13.789 align:start position:0% utility grid you can see that most of lower<00:01:11.920> Manhattan<00:01:12.439> was<00:01:12.680> down<00:01:13.280> during<00:01:13.560> that 00:01:13.789 --> 00:01:13.799 align:start position:0% lower Manhattan was down during that 00:01:13.799 --> 00:01:15.749 align:start position:0% lower Manhattan was down during that time<00:01:14.479> except<00:01:14.759> for<00:01:14.960> this<00:01:15.119> segment<00:01:15.520> which<00:01:15.640> was 00:01:15.749 --> 00:01:15.759 align:start position:0% time except for this segment which was 00:01:15.759 --> 00:01:17.670 align:start position:0% time except for this segment which was up<00:01:15.880> and<00:01:16.040> running<00:01:17.000> so<00:01:17.159> the<00:01:17.280> reason<00:01:17.560> that 00:01:17.670 --> 00:01:17.680 align:start position:0% up and running so the reason that 00:01:17.680 --> 00:01:20.510 align:start position:0% up and running so the reason that happened<00:01:18.000> is<00:01:18.439> that<00:01:18.880> uh<00:01:19.400> this<00:01:19.600> section 00:01:20.510 --> 00:01:20.520 align:start position:0% happened is that uh this section 00:01:20.520 --> 00:01:22.030 align:start position:0% happened is that uh this section actually<00:01:20.759> had<00:01:20.920> its<00:01:21.040> own<00:01:21.280> generation<00:01:21.880> and 00:01:22.030 --> 00:01:22.040 align:start position:0% actually had its own generation and 00:01:22.040 --> 00:01:24.550 align:start position:0% actually had its own generation and could<00:01:22.240> separate<00:01:22.840> from<00:01:23.040> the<00:01:23.159> utility<00:01:23.560> grid<00:01:24.400> and 00:01:24.550 --> 00:01:24.560 align:start position:0% could separate from the utility grid and 00:01:24.560 --> 00:01:32.069 align:start position:0% could separate from the utility grid and run<00:01:25.000> on<00:01:25.159> its<00:01:25.360> own<00:01:26.280> its<00:01:26.439> own<00:01:26.720> power 00:01:32.069 --> 00:01:32.079 align:start position:0% 00:01:32.079 --> 00:01:38.149 align:start position:0% I<00:01:32.159> think<00:01:32.320> John's<00:01:32.560> going<00:01:32.680> to<00:01:32.759> speak 00:01:38.149 --> 00:01:38.159 align:start position:0% 00:01:38.159 --> 00:01:43.069 align:start position:0% next<00:01:39.159> maybe<00:01:39.399> I'll<00:01:39.560> just<00:01:39.720> grab<00:01:40.079> this<00:01:41.079> um<00:01:42.079> so<00:01:42.720> uh 00:01:43.069 --> 00:01:43.079 align:start position:0% next maybe I'll just grab this um so uh 00:01:43.079 --> 00:01:45.109 align:start position:0% next maybe I'll just grab this um so uh in<00:01:43.200> our<00:01:43.399> efforts<00:01:43.759> to<00:01:44.119> sort<00:01:44.320> of<00:01:44.439> build<00:01:44.759> the<00:01:45.040> the 00:01:45.109 --> 00:01:45.119 align:start position:0% in our efforts to sort of build the the 00:01:45.119 --> 00:01:46.870 align:start position:0% in our efforts to sort of build the the Brooklyn<00:01:45.479> micr<00:01:45.880> grid<00:01:46.320> uh<00:01:46.439> we<00:01:46.560> started 00:01:46.870 --> 00:01:46.880 align:start position:0% Brooklyn micr grid uh we started 00:01:46.880 --> 00:01:48.910 align:start position:0% Brooklyn micr grid uh we started interacting<00:01:47.520> with<00:01:48.000> uh<00:01:48.119> community<00:01:48.520> members<00:01:48.799> in 00:01:48.910 --> 00:01:48.920 align:start position:0% interacting with uh community members in 00:01:48.920 --> 00:01:50.630 align:start position:0% interacting with uh community members in the<00:01:49.000> Park<00:01:49.240> Slope<00:01:49.479> and<00:01:49.640> guanas<00:01:50.520> uh 00:01:50.630 --> 00:01:50.640 align:start position:0% the Park Slope and guanas uh 00:01:50.640 --> 00:01:51.870 align:start position:0% the Park Slope and guanas uh neighborhoods<00:01:51.079> of<00:01:51.159> Brooklyn<00:01:51.520> and<00:01:51.640> this<00:01:51.759> is 00:01:51.870 --> 00:01:51.880 align:start position:0% neighborhoods of Brooklyn and this is 00:01:51.880 --> 00:01:53.350 align:start position:0% neighborhoods of Brooklyn and this is Martha<00:01:52.280> she's<00:01:52.439> been<00:01:52.600> in<00:01:52.680> the<00:01:52.799> community<00:01:53.119> for 00:01:53.350 --> 00:01:53.360 align:start position:0% Martha she's been in the community for 00:01:53.360 --> 00:01:56.990 align:start position:0% Martha she's been in the community for 40<00:01:53.799> years<00:01:54.799> uh<00:01:54.920> that's<00:01:55.079> her<00:01:55.240> PBR<00:01:55.560> array<00:01:56.000> on<00:01:56.240> her 00:01:56.990 --> 00:01:57.000 align:start position:0% 40 years uh that's her PBR array on her 00:01:57.000 --> 00:01:59.630 align:start position:0% 40 years uh that's her PBR array on her rooftop<00:01:58.000> and<00:01:58.280> she<00:01:58.600> actually<00:01:58.960> has<00:01:59.079> a<00:01:59.200> surplus 00:01:59.630 --> 00:01:59.640 align:start position:0% rooftop and she actually has a surplus 00:01:59.640 --> 00:02:02.550 align:start position:0% rooftop and she actually has a surplus she<00:01:59.960> she<00:02:00.360> produces<00:02:00.920> more<00:02:01.799> uh<00:02:01.920> electricity 00:02:02.550 --> 00:02:02.560 align:start position:0% she she produces more uh electricity 00:02:02.560 --> 00:02:05.870 align:start position:0% she she produces more uh electricity than<00:02:02.880> she<00:02:03.560> consumes<00:02:04.560> um<00:02:04.880> and<00:02:05.039> so<00:02:05.640> what<00:02:05.759> we 00:02:05.870 --> 00:02:05.880 align:start position:0% than she consumes um and so what we 00:02:05.880 --> 00:02:07.510 align:start position:0% than she consumes um and so what we wanted<00:02:06.159> to<00:02:06.399> explore<00:02:06.880> as<00:02:07.000> we<00:02:07.119> were<00:02:07.240> building 00:02:07.510 --> 00:02:07.520 align:start position:0% wanted to explore as we were building 00:02:07.520 --> 00:02:09.389 align:start position:0% wanted to explore as we were building the<00:02:07.640> micr<00:02:08.000> grid<00:02:08.440> was<00:02:08.959> is<00:02:09.119> there<00:02:09.239> an 00:02:09.389 --> 00:02:09.399 align:start position:0% the micr grid was is there an 00:02:09.399 --> 00:02:11.589 align:start position:0% the micr grid was is there an opportunity<00:02:09.920> to<00:02:10.080> allow<00:02:10.319> Martha<00:02:10.679> to<00:02:10.879> actually 00:02:11.589 --> 00:02:11.599 align:start position:0% opportunity to allow Martha to actually 00:02:11.599 --> 00:02:14.630 align:start position:0% opportunity to allow Martha to actually transact<00:02:12.599> um<00:02:13.520> peer-to-peer<00:02:13.920> potentially 00:02:14.630 --> 00:02:14.640 align:start position:0% transact um peer-to-peer potentially 00:02:14.640 --> 00:02:17.830 align:start position:0% transact um peer-to-peer potentially within<00:02:14.879> the<00:02:15.000> micro 00:02:17.830 --> 00:02:17.840 align:start position:0% 00:02:17.840 --> 00:02:21.110 align:start position:0% grid<00:02:18.840> and<00:02:18.959> so<00:02:19.400> this<00:02:19.760> was<00:02:20.400> uh<00:02:20.599> actually<00:02:20.920> the 00:02:21.110 --> 00:02:21.120 align:start position:0% grid and so this was uh actually the 00:02:21.120 --> 00:02:23.229 align:start position:0% grid and so this was uh actually the sandbox<00:02:21.680> that<00:02:21.800> we<00:02:21.959> identified<00:02:22.480> within<00:02:22.879> the 00:02:23.229 --> 00:02:23.239 align:start position:0% sandbox that we identified within the 00:02:23.239 --> 00:02:24.630 align:start position:0% sandbox that we identified within the community<00:02:23.640> where<00:02:23.800> we're<00:02:23.959> building<00:02:24.200> the<00:02:24.319> micro 00:02:24.630 --> 00:02:24.640 align:start position:0% community where we're building the micro 00:02:24.640 --> 00:02:27.309 align:start position:0% community where we're building the micro grid<00:02:25.239> on<00:02:25.599> a<00:02:25.680> street<00:02:25.959> called<00:02:26.160> President<00:02:26.560> Street 00:02:27.309 --> 00:02:27.319 align:start position:0% grid on a street called President Street 00:02:27.319 --> 00:02:28.790 align:start position:0% grid on a street called President Street and<00:02:27.440> it's<00:02:27.560> a<00:02:27.680> really<00:02:27.840> cool<00:02:28.040> street<00:02:28.360> because 00:02:28.790 --> 00:02:28.800 align:start position:0% and it's a really cool street because 00:02:28.800 --> 00:02:30.509 align:start position:0% and it's a really cool street because half<00:02:29.080> of<00:02:29.280> the<00:02:29.519> on<00:02:29.680> one<00:02:30.040> side<00:02:30.120> of<00:02:30.200> the<00:02:30.280> street 00:02:30.509 --> 00:02:30.519 align:start position:0% half of the on one side of the street 00:02:30.519 --> 00:02:31.830 align:start position:0% half of the on one side of the street you<00:02:30.599> can<00:02:30.720> see<00:02:30.840> Martha's<00:02:31.280> house<00:02:31.440> and<00:02:31.560> a<00:02:31.680> bunch 00:02:31.830 --> 00:02:31.840 align:start position:0% you can see Martha's house and a bunch 00:02:31.840 --> 00:02:32.990 align:start position:0% you can see Martha's house and a bunch of<00:02:31.920> her<00:02:32.040> neighbors<00:02:32.360> and<00:02:32.480> they've<00:02:32.640> got<00:02:32.800> really 00:02:32.990 --> 00:02:33.000 align:start position:0% of her neighbors and they've got really 00:02:33.000 --> 00:02:35.070 align:start position:0% of her neighbors and they've got really big<00:02:33.640> uh<00:02:33.800> really<00:02:33.959> cool<00:02:34.160> solar<00:02:34.519> arrays<00:02:34.800> and<00:02:34.920> then 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position:0% a concept where Martha and her side of 00:02:47.280 --> 00:02:49.869 align:start position:0% a concept where Martha and her side of the<00:02:47.360> street<00:02:47.640> can<00:02:47.800> become<00:02:48.120> prosumers<00:02:49.000> and<00:02:49.760> uh 00:02:49.869 --> 00:02:49.879 align:start position:0% the street can become prosumers and uh 00:02:49.879 --> 00:02:51.390 align:start position:0% the street can become prosumers and uh their<00:02:50.280> friends<00:02:50.560> and<00:02:50.680> Neighbors<00:02:50.959> on<00:02:51.080> the<00:02:51.200> other 00:02:51.390 --> 00:02:51.400 align:start position:0% their friends and Neighbors on the other 00:02:51.400 --> 00:02:54.670 align:start position:0% their friends and Neighbors on the other side<00:02:51.640> can<00:02:51.800> become<00:02:52.280> consumers<00:02:52.920> within<00:02:53.680> this<00:02:54.239> uh 00:02:54.670 --> 00:02:54.680 align:start position:0% side can become consumers within this uh 00:02:54.680 --> 00:02:57.110 align:start position:0% side can become consumers within this uh within<00:02:54.920> the 00:02:57.110 --> 00:02:57.120 align:start position:0% 00:02:57.120 --> 00:02:59.470 align:start position:0% sandbox<00:02:58.120> uh<00:02:58.280> and<00:02:58.440> so<00:02:58.879> I<00:02:58.959> just<00:02:59.080> want<00:02:59.200> to<00:02:59.280> give<00:02:59.400> a 00:02:59.470 --> 00:02:59.480 align:start position:0% sandbox uh and so I just want to give a 00:02:59.480 --> 00:03:00.869 align:start position:0% sandbox uh and so I just want to give a bit<00:02:59.560> of<00:02:59.640> cont<00:02:59.879> context<00:03:00.319> with<00:03:00.480> respect<00:03:00.720> to<00:03:00.800> the 00:03:00.869 --> 00:03:00.879 align:start position:0% bit of cont context with respect to the 00:03:00.879 --> 00:03:02.990 align:start position:0% bit of cont context with respect to the Renewable<00:03:01.239> Energy<00:03:01.560> Credit<00:03:02.159> market<00:03:02.599> and<00:03:02.760> how 00:03:02.990 --> 00:03:03.000 align:start position:0% Renewable Energy Credit market and how 00:03:03.000 --> 00:03:04.910 align:start position:0% Renewable Energy Credit market and how that<00:03:03.120> works<00:03:03.360> in<00:03:03.480> the<00:03:03.560> United<00:03:03.920> States<00:03:04.599> um<00:03:04.760> so 00:03:04.910 --> 00:03:04.920 align:start position:0% that works in the United States um so 00:03:04.920 --> 00:03:07.789 align:start position:0% that works in the United States um so essentially<00:03:05.560> right<00:03:05.760> now<00:03:05.959> you<00:03:06.080> can<00:03:06.640> buy<00:03:07.640> uh 00:03:07.789 --> 00:03:07.799 align:start position:0% essentially right now you can buy uh 00:03:07.799 --> 00:03:09.309 align:start position:0% essentially right now you can buy uh what's<00:03:07.920> known<00:03:08.120> as<00:03:08.200> a<00:03:08.360> wreck<00:03:08.680> and<00:03:08.799> a<00:03:08.920> wre<00:03:09.200> is 00:03:09.309 --> 00:03:09.319 align:start position:0% what's known as a wreck and a wre is 00:03:09.319 --> 00:03:12.509 align:start position:0% what's known as a wreck and a wre is essentially<00:03:09.720> an<00:03:10.280> attribute<00:03:11.280> um<00:03:11.680> that<00:03:12.120> that 00:03:12.509 --> 00:03:12.519 align:start position:0% essentially an attribute um that that 00:03:12.519 --> 00:03:15.110 align:start position:0% essentially an attribute um that that attests<00:03:13.040> to<00:03:13.360> a<00:03:13.560> megawatt<00:03:14.440> of<00:03:14.599> renewable 00:03:15.110 --> 00:03:15.120 align:start position:0% attests to a megawatt of renewable 00:03:15.120 --> 00:03:18.270 align:start position:0% attests to a megawatt of renewable energy<00:03:15.480> that's<00:03:16.080> generated<00:03:17.080> by<00:03:17.319> some<00:03:18.120> uh 00:03:18.270 --> 00:03:18.280 align:start position:0% energy that's generated by some uh 00:03:18.280 --> 00:03:20.350 align:start position:0% energy that's generated by some uh source<00:03:19.080> and<00:03:19.159> so<00:03:19.400> that<00:03:19.519> could<00:03:19.640> be<00:03:19.840> like<00:03:19.959> a<00:03:20.120> wind 00:03:20.350 --> 00:03:20.360 align:start position:0% source and so that could be like a wind 00:03:20.360 --> 00:03:23.949 align:start position:0% source and so that could be like a wind farm<00:03:20.640> in<00:03:20.920> Idaho<00:03:21.920> or<00:03:22.040> a<00:03:22.159> solar<00:03:22.480> farm<00:03:22.720> in<00:03:22.959> Texas 00:03:23.949 --> 00:03:23.959 align:start position:0% farm in Idaho or a solar farm in Texas 00:03:23.959 --> 00:03:26.350 align:start position:0% farm in Idaho or a solar farm in Texas and<00:03:24.159> so<00:03:24.720> that<00:03:25.159> uh<00:03:25.319> facility<00:03:25.799> generates<00:03:26.239> a 00:03:26.350 --> 00:03:26.360 align:start position:0% and so that uh facility generates a 00:03:26.360 --> 00:03:28.789 align:start position:0% and so that uh facility generates a megawatt<00:03:26.879> and<00:03:27.000> in<00:03:27.159> doing<00:03:27.440> so<00:03:27.720> it<00:03:27.840> is<00:03:28.120> issued<00:03:28.640> a 00:03:28.789 --> 00:03:28.799 align:start position:0% megawatt and in doing so it is issued a 00:03:28.799 --> 00:03:30.390 align:start position:0% megawatt and in doing so it is issued a renewable<00:03:29.200> energy<00:03:29.480> credit 00:03:30.390 --> 00:03:30.400 align:start position:0% renewable energy credit 00:03:30.400 --> 00:03:33.309 align:start position:0% renewable energy credit which<00:03:30.599> it<00:03:30.760> can<00:03:31.040> then<00:03:31.920> sell<00:03:32.280> on<00:03:32.920> and<00:03:33.040> so<00:03:33.239> what 00:03:33.309 --> 00:03:33.319 align:start position:0% which it can then sell on and so what 00:03:33.319 --> 00:03:35.830 align:start position:0% which it can then sell on and so what you'll<00:03:33.560> have<00:03:33.799> is<00:03:34.159> utilities<00:03:35.159> um<00:03:35.360> purchasing 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align:start position:0% sort of green energy um and so uh that was<00:03:52.720> one<00:03:52.840> of<00:03:52.920> the<00:03:53.040> first<00:03:53.239> initial<00:03:53.560> problems 00:03:53.869 --> 00:03:53.879 align:start position:0% was one of the first initial problems 00:03:53.879 --> 00:03:56.110 align:start position:0% was one of the first initial problems that<00:03:53.959> we<00:03:54.079> identified<00:03:54.640> with<00:03:54.799> this<00:03:55.000> system<00:03:55.840> um 00:03:56.110 --> 00:03:56.120 align:start position:0% that we identified with this system um 00:03:56.120 --> 00:03:58.350 align:start position:0% that we identified with this system um the<00:03:56.239> other<00:03:56.599> problem<00:03:56.920> is<00:03:57.439> it's<00:03:57.640> kind<00:03:57.760> of<00:03:57.879> a<00:03:58.000> meta 00:03:58.350 --> 00:03:58.360 align:start position:0% the other problem is it's kind of a meta 00:03:58.360 --> 00:04:02.149 align:start position:0% the other problem is it's kind of a meta system<00:03:59.040> um<00:03:59.920> yes<00:04:00.640> the<00:04:00.959> facilities<00:04:01.560> that<00:04:01.799> gen 00:04:02.149 --> 00:04:02.159 align:start position:0% system um yes the facilities that gen 00:04:02.159 --> 00:04:05.149 align:start position:0% system um yes the facilities that gen you<00:04:02.239> know<00:04:02.400> that<00:04:02.480> wind<00:04:02.680> farm<00:04:02.879> in<00:04:03.000> Idaho<00:04:03.560> is<00:04:04.319> um 00:04:05.149 --> 00:04:05.159 align:start position:0% you know that wind farm in Idaho is um 00:04:05.159 --> 00:04:06.550 align:start position:0% you know that wind farm in Idaho is um producing<00:04:05.519> green<00:04:05.720> energy<00:04:06.040> and<00:04:06.159> that<00:04:06.360> does 00:04:06.550 --> 00:04:06.560 align:start position:0% producing green energy and that does 00:04:06.560 --> 00:04:08.229 align:start position:0% producing green energy and that does have<00:04:06.680> a<00:04:06.799> net<00:04:07.079> positive<00:04:07.439> effect<00:04:07.680> on<00:04:07.840> the<00:04:07.959> global 00:04:08.229 --> 00:04:08.239 align:start position:0% have a net positive effect on the global 00:04:08.239 --> 00:04:10.149 align:start position:0% have a net positive effect on the global environment<00:04:09.200> but<00:04:09.519> that<00:04:09.680> doesn't<00:04:09.959> actually 00:04:10.149 --> 00:04:10.159 align:start position:0% environment but that doesn't actually 00:04:10.159 --> 00:04:11.830 align:start position:0% environment but that doesn't actually mean<00:04:10.480> anything<00:04:10.760> at<00:04:10.920> the<00:04:11.040> local<00:04:11.360> community 00:04:11.830 --> 00:04:11.840 align:start position:0% mean anything at the local community 00:04:11.840 --> 00:04:15.550 align:start position:0% mean anything at the local community level<00:04:12.079> in<00:04:12.319> Brooklyn<00:04:13.319> where<00:04:14.159> uh<00:04:14.720> uh<00:04:14.959> residents 00:04:15.550 --> 00:04:15.560 align:start position:0% level in Brooklyn where uh uh residents 00:04:15.560 --> 00:04:17.030 align:start position:0% level in Brooklyn where uh uh residents of<00:04:15.760> that<00:04:15.959> community<00:04:16.359> may<00:04:16.600> actually<00:04:16.840> be 00:04:17.030 --> 00:04:17.040 align:start position:0% of that community may actually be 00:04:17.040 --> 00:04:20.229 align:start position:0% of that community may actually be purchasing<00:04:17.519> those<00:04:17.720> wrecks<00:04:18.239> from<00:04:18.519> third<00:04:18.799> party 00:04:20.229 --> 00:04:20.239 align:start position:0% purchasing those wrecks from third party 00:04:20.239 --> 00:04:22.909 align:start position:0% purchasing those wrecks from third party providers<00:04:21.239> so<00:04:21.440> what<00:04:21.600> that<00:04:21.759> means<00:04:22.199> is<00:04:22.479> that<00:04:22.800> uh 00:04:22.909 --> 00:04:22.919 align:start position:0% providers so what that means is that uh 00:04:22.919 --> 00:04:25.150 align:start position:0% providers so what that means is that uh the<00:04:23.040> electrons<00:04:23.600> that<00:04:23.800> are<00:04:24.040> actually<00:04:24.400> produced 00:04:25.150 --> 00:04:25.160 align:start position:0% the electrons that are actually produced 00:04:25.160 --> 00:04:26.830 align:start position:0% the electrons that are actually produced off<00:04:25.320> of<00:04:25.520> that<00:04:25.680> wind<00:04:25.919> farm<00:04:26.520> uh<00:04:26.600> that<00:04:26.720> you're 00:04:26.830 --> 00:04:26.840 align:start position:0% off of that wind farm uh that you're 00:04:26.840 --> 00:04:28.990 align:start position:0% off of that wind farm uh that you're buying<00:04:27.120> your<00:04:27.280> green<00:04:27.560> energy<00:04:28.000> from<00:04:28.520> don't<00:04:28.759> ever 00:04:28.990 --> 00:04:29.000 align:start position:0% buying your green energy from don't ever 00:04:29.000 --> 00:04:31.990 align:start position:0% buying your green energy from don't ever actually<00:04:29.240> reach<00:04:29.479> you<00:04:30.080> so<00:04:31.039> uh<00:04:31.199> energy<00:04:31.560> produced 00:04:31.990 --> 00:04:32.000 align:start position:0% actually reach you so uh energy produced 00:04:32.000 --> 00:04:34.189 align:start position:0% actually reach you so uh energy produced in<00:04:32.120> the<00:04:32.280> neighborhood<00:04:32.880> within<00:04:33.160> your<00:04:33.720> uh<00:04:33.840> local 00:04:34.189 --> 00:04:34.199 align:start position:0% in the neighborhood within your uh local 00:04:34.199 --> 00:04:36.629 align:start position:0% in the neighborhood within your uh local micro<00:04:34.600> grid<00:04:35.320> actually<00:04:35.639> has<00:04:35.840> the<00:04:36.120> potential<00:04:36.479> to 00:04:36.629 --> 00:04:36.639 align:start position:0% micro grid actually has the potential to 00:04:36.639 --> 00:04:39.150 align:start position:0% micro grid actually has the potential to make<00:04:36.759> it<00:04:37.280> uh<00:04:37.360> to<00:04:37.680> your<00:04:37.960> house<00:04:38.639> uh<00:04:38.720> so<00:04:38.880> there's 00:04:39.150 --> 00:04:39.160 align:start position:0% make it uh to your house uh so there's 00:04:39.160 --> 00:04:42.430 align:start position:0% make it uh to your house uh so there's less<00:04:39.600> loss<00:04:40.240> in<00:04:40.479> transporting<00:04:41.080> that<00:04:41.280> energy<00:04:42.280> um 00:04:42.430 --> 00:04:42.440 align:start position:0% less loss in transporting that energy um 00:04:42.440 --> 00:04:44.029 align:start position:0% less loss in transporting that energy um you<00:04:42.560> know<00:04:42.680> transporting<00:04:43.199> energy<00:04:43.520> is<00:04:43.720> actually 00:04:44.029 --> 00:04:44.039 align:start position:0% you know transporting energy is actually 00:04:44.039 --> 00:04:46.749 align:start position:0% you know transporting energy is actually pretty<00:04:44.320> lossy<00:04:45.320> especially<00:04:45.800> when<00:04:46.160> uh<00:04:46.400> summer 00:04:46.749 --> 00:04:46.759 align:start position:0% pretty lossy especially when uh summer 00:04:46.759 --> 00:04:48.270 align:start position:0% pretty lossy especially when uh summer comes<00:04:46.960> along<00:04:47.199> all<00:04:47.360> the<00:04:47.440> air<00:04:47.800> conditioning 00:04:48.270 --> 00:04:48.280 align:start position:0% comes along all the air conditioning 00:04:48.280 --> 00:04:51.430 align:start position:0% comes along all the air conditioning turns<00:04:48.600> on<00:04:49.120> and<00:04:49.520> uh<00:04:50.240> the<00:04:50.400> lines<00:04:50.800> get<00:04:51.080> hot<00:04:51.320> and 00:04:51.430 --> 00:04:51.440 align:start position:0% turns on and uh the lines get hot and 00:04:51.440 --> 00:04:52.310 align:start position:0% turns on and uh the lines get hot and start 00:04:52.310 --> 00:04:52.320 align:start position:0% start 00:04:52.320 --> 00:04:54.590 align:start position:0% start sagging<00:04:53.320> um<00:04:53.800> the<00:04:53.919> thing<00:04:54.080> that's<00:04:54.320> really 00:04:54.590 --> 00:04:54.600 align:start position:0% sagging um the thing that's really 00:04:54.600 --> 00:04:56.990 align:start position:0% sagging um the thing that's really necessary<00:04:54.960> to<00:04:55.120> do<00:04:55.320> some<00:04:55.520> of<00:04:55.720> this<00:04:56.039> is<00:04:56.360> data<00:04:56.880> and 00:04:56.990 --> 00:04:57.000 align:start position:0% necessary to do some of this is data and 00:04:57.000 --> 00:04:58.430 align:start position:0% necessary to do some of this is data and a<00:04:57.120> lot<00:04:57.240> of<00:04:57.320> this<00:04:57.479> data<00:04:57.680> can<00:04:57.800> be<00:04:57.960> provided<00:04:58.280> by 00:04:58.430 --> 00:04:58.440 align:start position:0% a lot of this data can be provided by 00:04:58.440 --> 00:05:00.270 align:start position:0% a lot of this data can be provided by smart<00:04:58.680> meters 00:05:00.270 --> 00:05:00.280 align:start position:0% smart meters 00:05:00.280 --> 00:05:03.510 align:start position:0% smart meters so<00:05:01.280> those<00:05:01.479> Smart<00:05:01.800> Meters<00:05:02.600> uh<00:05:02.720> and<00:05:02.880> the<00:05:03.080> concept 00:05:03.510 --> 00:05:03.520 align:start position:0% so those Smart Meters uh and the concept 00:05:03.520 --> 00:05:06.950 align:start position:0% so those Smart Meters uh and the concept of<00:05:03.800> pulling<00:05:04.240> this<00:05:04.639> uh<00:05:05.280> pulling<00:05:05.960> the<00:05:06.080> macro<00:05:06.560> gr 00:05:06.950 --> 00:05:06.960 align:start position:0% of pulling this uh pulling the macro gr 00:05:06.960 --> 00:05:09.390 align:start position:0% of pulling this uh pulling the macro gr down<00:05:07.120> to<00:05:07.280> the<00:05:07.479> micro<00:05:08.479> uh<00:05:08.639> brought<00:05:08.880> us<00:05:09.000> to<00:05:09.199> this 00:05:09.390 --> 00:05:09.400 align:start position:0% down to the micro uh brought us to this 00:05:09.400 --> 00:05:11.590 align:start position:0% down to the micro uh brought us to this idea<00:05:09.680> of<00:05:10.039> transactive 00:05:11.590 --> 00:05:11.600 align:start position:0% idea of transactive 00:05:11.600 --> 00:05:14.430 align:start position:0% idea of transactive grid<00:05:12.600> uh<00:05:13.120> and<00:05:13.280> so<00:05:13.720> I'll<00:05:13.880> just<00:05:14.000> talk<00:05:14.160> a<00:05:14.280> little 00:05:14.430 --> 00:05:14.440 align:start position:0% grid uh and so I'll just talk a little 00:05:14.440 --> 00:05:16.510 align:start position:0% grid uh and so I'll just talk a little bit<00:05:14.639> about<00:05:15.240> sort<00:05:15.440> of<00:05:15.560> the<00:05:15.720> current<00:05:16.000> iteration 00:05:16.510 --> 00:05:16.520 align:start position:0% bit about sort of the current iteration 00:05:16.520 --> 00:05:18.710 align:start position:0% bit about sort of the current iteration of<00:05:16.880> of<00:05:17.280> of<00:05:17.400> the<00:05:17.560> Prototype<00:05:18.199> and<00:05:18.280> so<00:05:18.400> the<00:05:18.520> smart 00:05:18.710 --> 00:05:18.720 align:start position:0% of of of the Prototype and so the smart 00:05:18.720 --> 00:05:20.790 align:start position:0% of of of the Prototype and so the smart meters<00:05:19.160> then<00:05:19.479> effectively<00:05:19.960> become<00:05:20.280> oracles 00:05:20.790 --> 00:05:20.800 align:start position:0% meters then effectively become oracles 00:05:20.800 --> 00:05:22.430 align:start position:0% meters then effectively become oracles where<00:05:20.919> in<00:05:21.080> essentially<00:05:21.479> you<00:05:21.560> can<00:05:21.720> tokenize 00:05:22.430 --> 00:05:22.440 align:start position:0% where in essentially you can tokenize 00:05:22.440 --> 00:05:24.629 align:start position:0% where in essentially you can tokenize the<00:05:22.600> consumption<00:05:23.160> profile<00:05:24.080> and<00:05:24.160> so<00:05:24.319> you<00:05:24.440> can 00:05:24.629 --> 00:05:24.639 align:start position:0% the consumption profile and so you can 00:05:24.639 --> 00:05:27.309 align:start position:0% the consumption profile and so you can represent<00:05:25.479> essentially<00:05:25.919> proxy<00:05:26.319> electrons 00:05:27.309 --> 00:05:27.319 align:start position:0% represent essentially proxy electrons 00:05:27.319 --> 00:05:29.870 align:start position:0% represent essentially proxy electrons with<00:05:27.440> a<00:05:27.720> token<00:05:28.720> um<00:05:28.840> and<00:05:28.919> so<00:05:29.120> in<00:05:29.199> this<00:05:29.360> example 00:05:29.870 --> 00:05:29.880 align:start position:0% with a token um and so in this example 00:05:29.880 --> 00:05:31.749 align:start position:0% with a token um and so in this example we've<00:05:30.000> got<00:05:30.120> Martha<00:05:30.639> and<00:05:30.759> her 00:05:31.749 --> 00:05:31.759 align:start position:0% we've got Martha and her 00:05:31.759 --> 00:05:35.189 align:start position:0% we've got Martha and her neighbor<00:05:32.759> um<00:05:33.440> and<00:05:33.600> so<00:05:34.080> her<00:05:34.240> smart<00:05:34.520> meter<00:05:35.000> she 00:05:35.189 --> 00:05:35.199 align:start position:0% neighbor um and so her smart meter she 00:05:35.199 --> 00:05:37.390 align:start position:0% neighbor um and so her smart meter she produces<00:05:35.520> a<00:05:35.680> surplus<00:05:36.120> her<00:05:36.319> neighbor<00:05:36.639> can<00:05:36.880> then 00:05:37.390 --> 00:05:37.400 align:start position:0% produces a surplus her neighbor can then 00:05:37.400 --> 00:05:38.670 align:start position:0% produces a surplus her neighbor can then purchase<00:05:37.919> that 00:05:38.670 --> 00:05:38.680 align:start position:0% purchase that 00:05:38.680 --> 00:05:41.590 align:start position:0% purchase that Surplus<00:05:39.680> um<00:05:40.280> and<00:05:40.400> so<00:05:40.639> this<00:05:40.759> is<00:05:40.919> important<00:05:41.240> to 00:05:41.590 --> 00:05:41.600 align:start position:0% Surplus um and so this is important to 00:05:41.600 --> 00:05:44.070 align:start position:0% Surplus um and so this is important to realize<00:05:42.240> because<00:05:43.080> physics<00:05:43.440> tells<00:05:43.680> us<00:05:43.960> that 00:05:44.070 --> 00:05:44.080 align:start position:0% realize because physics tells us that 00:05:44.080 --> 00:05:46.150 align:start position:0% realize because physics tells us that the<00:05:44.240> electrons<00:05:44.800> that<00:05:45.120> Martha<00:05:45.520> produces<00:05:46.000> from 00:05:46.150 --> 00:05:46.160 align:start position:0% the electrons that Martha produces from 00:05:46.160 --> 00:05:48.670 align:start position:0% the electrons that Martha produces from her<00:05:46.360> PV<00:05:46.720> array<00:05:47.360> will<00:05:47.560> go<00:05:47.720> to<00:05:47.880> the<00:05:47.960> nearest<00:05:48.280> load 00:05:48.670 --> 00:05:48.680 align:start position:0% her PV array will go to the nearest load 00:05:48.680 --> 00:05:50.150 align:start position:0% her PV array will go to the nearest load so<00:05:48.840> the<00:05:48.960> nearest<00:05:49.240> load<00:05:49.440> is<00:05:49.720> probably<00:05:50.039> her 00:05:50.150 --> 00:05:50.160 align:start position:0% so the nearest load is probably her 00:05:50.160 --> 00:05:51.350 align:start position:0% so the nearest load is probably her neighbor's 00:05:51.350 --> 00:05:51.360 align:start position:0% neighbor's 00:05:51.360 --> 00:05:54.350 align:start position:0% neighbor's refrigerator<00:05:52.360> um<00:05:53.039> and<00:05:53.199> so<00:05:53.680> the<00:05:53.840> transactive 00:05:54.350 --> 00:05:54.360 align:start position:0% refrigerator um and so the transactive 00:05:54.360 --> 00:05:56.670 align:start position:0% refrigerator um and so the transactive grid<00:05:54.639> is<00:05:54.800> essentially<00:05:55.759> the<00:05:56.039> the<00:05:56.160> layer<00:05:56.520> the 00:05:56.670 --> 00:05:56.680 align:start position:0% grid is essentially the the layer the 00:05:56.680 --> 00:05:58.950 align:start position:0% grid is essentially the the layer the business<00:05:57.000> Logic<00:05:57.319> on<00:05:57.520> top<00:05:57.680> of<00:05:57.919> which<00:05:58.639> this<00:05:58.800> sort 00:05:58.950 --> 00:05:58.960 align:start position:0% business Logic on top of which this sort 00:05:58.960 --> 00:06:02.230 align:start position:0% business Logic on top of which this sort of<00:05:59.120> transaction<00:06:00.120> Can<00:06:00.639> Can 00:06:02.230 --> 00:06:02.240 align:start position:0% of transaction Can Can 00:06:02.240 --> 00:06:07.150 align:start position:0% of transaction Can Can Happen<00:06:03.240> um<00:06:03.800> and<00:06:04.000> so<00:06:05.000> this<00:06:05.759> kind<00:06:05.960> of<00:06:06.080> a<00:06:06.280> system 00:06:07.150 --> 00:06:07.160 align:start position:0% Happen um and so this kind of a system 00:06:07.160 --> 00:06:10.350 align:start position:0% Happen um and so this kind of a system uh<00:06:07.400> now<00:06:07.800> gives<00:06:08.120> consumers<00:06:08.960> a<00:06:09.120> choice<00:06:10.039> they<00:06:10.160> can 00:06:10.350 --> 00:06:10.360 align:start position:0% uh now gives consumers a choice they can 00:06:10.360 --> 00:06:13.350 align:start position:0% uh now gives consumers a choice they can choose<00:06:10.880> to<00:06:11.479> uh<00:06:11.639> purchase<00:06:12.319> sort<00:06:12.520> of<00:06:12.880> renewable 00:06:13.350 --> 00:06:13.360 align:start position:0% choose to uh purchase sort of renewable 00:06:13.360 --> 00:06:15.070 align:start position:0% choose to uh purchase sort of renewable energy<00:06:13.680> credits<00:06:14.039> from<00:06:14.280> third<00:06:14.560> party 00:06:15.070 --> 00:06:15.080 align:start position:0% energy credits from third party 00:06:15.080 --> 00:06:17.909 align:start position:0% energy credits from third party retailers<00:06:16.080> um<00:06:16.319> or<00:06:16.759> they<00:06:16.880> can<00:06:17.039> choose<00:06:17.319> to<00:06:17.560> now 00:06:17.909 --> 00:06:17.919 align:start position:0% retailers um or they can choose to now 00:06:17.919 --> 00:06:20.870 align:start position:0% retailers um or they can choose to now purchase<00:06:18.919> uh<00:06:19.039> effectively<00:06:19.840> renewable<00:06:20.319> energy 00:06:20.870 --> 00:06:20.880 align:start position:0% purchase uh effectively renewable energy 00:06:20.880 --> 00:06:23.909 align:start position:0% purchase uh effectively renewable energy credits<00:06:21.880> you<00:06:22.000> know<00:06:22.160> in<00:06:22.280> the<00:06:22.360> form<00:06:22.599> of<00:06:22.759> a<00:06:23.280> token 00:06:23.909 --> 00:06:23.919 align:start position:0% credits you know in the form of a token 00:06:23.919 --> 00:06:25.270 align:start position:0% credits you know in the form of a token from<00:06:24.160> their<00:06:24.319> neighbor 00:06:25.270 --> 00:06:25.280 align:start position:0% from their neighbor 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evolution of utilities uh don't get us wrong<00:06:32.880> recks<00:06:33.240> are<00:06:33.440> incredible<00:06:33.880> things<00:06:34.120> and 00:06:34.270 --> 00:06:34.280 align:start position:0% wrong recks are incredible things and 00:06:34.280 --> 00:06:35.629 align:start position:0% wrong recks are incredible things and actually<00:06:34.479> re<00:06:34.759> have<00:06:34.880> done<00:06:35.000> a<00:06:35.120> lot<00:06:35.240> to<00:06:35.400> drive 00:06:35.629 --> 00:06:35.639 align:start position:0% actually re have done a lot to drive 00:06:35.639 --> 00:06:37.909 align:start position:0% actually re have done a lot to drive down<00:06:35.800> the<00:06:36.000> cost<00:06:36.240> of<00:06:36.800> distributed<00:06:37.280> generation 00:06:37.909 --> 00:06:37.919 align:start position:0% down the cost of distributed generation 00:06:37.919 --> 00:06:40.550 align:start position:0% down the cost of distributed generation Renewable<00:06:38.440> Power<00:06:38.720> around<00:06:38.919> the<00:06:39.080> world<00:06:40.080> uh<00:06:40.240> but 00:06:40.550 --> 00:06:40.560 align:start position:0% Renewable Power around the world uh but 00:06:40.560 --> 00:06:41.710 align:start position:0% Renewable Power around the world uh but that's<00:06:40.720> a<00:06:40.880> market<00:06:41.120> that's<00:06:41.280> ready<00:06:41.520> for 00:06:41.710 --> 00:06:41.720 align:start position:0% that's a market that's ready for 00:06:41.720 --> 00:06:44.150 align:start position:0% that's a market that's ready for evolution<00:06:42.599> uh<00:06:42.720> it's<00:06:42.840> a<00:06:42.960> market<00:06:43.319> that<00:06:43.800> you<00:06:43.919> know 00:06:44.150 --> 00:06:44.160 align:start position:0% evolution uh it's a market that you know 00:06:44.160 --> 00:06:46.510 align:start position:0% evolution uh it's a market that you know distributed<00:06:44.680> generation<00:06:45.360> the<00:06:45.759> cost<00:06:46.280> of 00:06:46.510 --> 00:06:46.520 align:start position:0% distributed generation the cost of 00:06:46.520 --> 00:06:48.589 align:start position:0% distributed generation the cost of actually<00:06:46.800> installing<00:06:47.680> distributed<00:06:48.240> Power<00:06:48.440> is 00:06:48.589 --> 00:06:48.599 align:start position:0% actually installing distributed Power is 00:06:48.599 --> 00:06:51.230 align:start position:0% actually installing distributed Power is coming<00:06:48.840> down<00:06:49.080> so<00:06:49.319> much<00:06:49.680> that<00:06:50.160> you<00:06:50.319> know<00:06:51.080> there 00:06:51.230 --> 00:06:51.240 align:start position:0% coming down so much that you know there 00:06:51.240 --> 00:06:53.150 align:start position:0% coming down so much that you know there is<00:06:51.360> a<00:06:51.560> potential<00:06:51.960> to<00:06:52.120> do<00:06:52.240> it<00:06:52.319> a<00:06:52.479> different<00:06:52.800> way 00:06:53.150 --> 00:06:53.160 align:start position:0% is a potential to do it a different way 00:06:53.160 --> 00:06:55.350 align:start position:0% is a potential to do it a different way so<00:06:53.319> this<00:06:53.400> is<00:06:53.520> an<00:06:53.639> evolution<00:06:54.120> of<00:06:54.360> this<00:06:54.840> works<00:06:55.120> on 00:06:55.350 --> 00:06:55.360 align:start position:0% so this is an evolution of this works on 00:06:55.360 --> 00:06:57.230 align:start position:0% so this is an evolution of this works on top<00:06:55.560> of<00:06:55.680> the<00:06:55.879> existing<00:06:56.319> utility<00:06:56.800> structure 00:06:57.230 --> 00:06:57.240 align:start position:0% top of the existing utility structure 00:06:57.240 --> 00:06:58.510 align:start position:0% top of the existing utility structure we're<00:06:57.400> not<00:06:57.520> trying<00:06:57.759> to<00:06:57.919> displace<00:06:58.319> any 00:06:58.510 --> 00:06:58.520 align:start position:0% we're not trying to displace any 00:06:58.520 --> 00:07:03.469 align:start position:0% we're not trying to displace any utilities<00:06:59.000> at<00:06:59.160> this<00:06:59.280> point 00:07:03.469 --> 00:07:03.479 align:start position:0% 00:07:03.479 --> 00:07:07.029 align:start position:0% um<00:07:04.000> so 00:07:07.029 --> 00:07:07.039 align:start position:0% 00:07:07.039 --> 00:07:11.550 align:start position:0% talk<00:07:08.039> so<00:07:08.840> in<00:07:09.080> the<00:07:09.479> back<00:07:09.800> end<00:07:10.440> we're<00:07:10.840> building 00:07:11.550 --> 00:07:11.560 align:start position:0% talk so in the back end we're building 00:07:11.560 --> 00:07:15.390 align:start position:0% talk so in the back end we're building so<00:07:12.560> um<00:07:13.199> consensus<00:07:14.160> is<00:07:14.440> is<00:07:14.560> building<00:07:14.919> the<00:07:15.080> smart 00:07:15.390 --> 00:07:15.400 align:start position:0% so um consensus is is building the smart 00:07:15.400 --> 00:07:18.589 align:start position:0% so um consensus is is building the smart contract<00:07:16.039> foundation<00:07:16.720> for<00:07:17.039> this<00:07:17.520> uh<00:07:18.120> for<00:07:18.360> this 00:07:18.589 --> 00:07:18.599 align:start position:0% contract foundation for this uh for this 00:07:18.599 --> 00:07:21.629 align:start position:0% contract foundation for this uh for this project<00:07:19.560> and<00:07:19.680> so<00:07:19.919> what<00:07:20.080> we<00:07:20.280> have<00:07:20.639> is<00:07:21.160> as<00:07:21.319> John 00:07:21.629 --> 00:07:21.639 align:start position:0% project and so what we have is as John 00:07:21.639 --> 00:07:25.510 align:start position:0% project and so what we have is as John mentioned<00:07:22.240> the<00:07:23.240> Smart<00:07:23.759> Energy<00:07:24.080> meter<00:07:24.840> can<00:07:25.120> act 00:07:25.510 --> 00:07:25.520 align:start position:0% mentioned the Smart Energy meter can act 00:07:25.520 --> 00:07:29.270 align:start position:0% mentioned the Smart Energy meter can act as<00:07:25.800> an<00:07:26.280> oracle<00:07:27.280> that<00:07:27.400> will<00:07:27.680> actually<00:07:28.680> create 00:07:29.270 --> 00:07:29.280 align:start position:0% as an oracle that will actually create 00:07:29.280 --> 00:07:34.070 align:start position:0% as an oracle that will actually create the<00:07:29.560> these<00:07:29.759> energy<00:07:30.680> tokens<00:07:31.680> uh<00:07:31.840> once<00:07:32.759> uh<00:07:33.479> it 00:07:34.070 --> 00:07:34.080 align:start position:0% the these energy tokens uh once uh it 00:07:34.080 --> 00:07:37.029 align:start position:0% the these energy tokens uh once uh it measures<00:07:35.000> that<00:07:35.520> uh<00:07:36.160> electrons<00:07:36.720> have<00:07:36.840> been 00:07:37.029 --> 00:07:37.039 align:start position:0% measures that uh electrons have been 00:07:37.039 --> 00:07:39.029 align:start position:0% measures that uh electrons have been produced<00:07:37.720> by<00:07:37.879> the 00:07:39.029 --> 00:07:39.039 align:start position:0% produced by the 00:07:39.039 --> 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and uh so the<00:07:52.520> neighbors<00:07:53.039> would<00:07:53.479> then<00:07:54.479> consume<00:07:55.440> the 00:07:55.790 --> 00:07:55.800 align:start position:0% the neighbors would then consume the 00:07:55.800 --> 00:08:00.510 align:start position:0% the neighbors would then consume the tokens<00:07:56.800> so<00:07:57.120> you<00:07:57.240> can<00:07:57.560> have<00:07:58.280> uh 00:08:00.510 --> 00:08:00.520 align:start position:0% tokens so you can have uh 00:08:00.520 --> 00:08:05.950 align:start position:0% tokens so you can have uh so<00:08:00.720> you<00:08:01.000> have<00:08:02.000> the<00:08:02.560> neighbors<00:08:03.800> um<00:08:04.800> smart<00:08:05.199> meter 00:08:05.950 --> 00:08:05.960 align:start position:0% so you have the neighbors um smart meter 00:08:05.960 --> 00:08:09.070 align:start position:0% so you have the neighbors um smart meter will<00:08:06.240> then<00:08:06.479> sense<00:08:06.960> that<00:08:07.120> she's<00:08:07.599> using<00:08:08.080> energy 00:08:09.070 --> 00:08:09.080 align:start position:0% will then sense that she's using energy 00:08:09.080 --> 00:08:11.589 align:start position:0% will then sense that she's using energy and<00:08:09.240> then<00:08:09.479> can<00:08:10.039> uh<00:08:10.520> uh<00:08:10.680> destroy<00:08:11.080> the<00:08:11.240> tokens 00:08:11.589 --> 00:08:11.599 align:start position:0% and then can uh uh destroy the tokens 00:08:11.599 --> 00:08:15.390 align:start position:0% and then can uh uh destroy the tokens from<00:08:11.879> there<00:08:12.560> so<00:08:13.080> right<00:08:13.280> now<00:08:13.560> we<00:08:13.840> have<00:08:14.440> uh 00:08:15.390 --> 00:08:15.400 align:start position:0% from there so right now we have uh 00:08:15.400 --> 00:08:19.510 align:start position:0% from there so right now we have uh custom<00:08:16.400> token<00:08:17.039> contracts<00:08:18.039> and<00:08:18.479> uh<00:08:18.639> we're 00:08:19.510 --> 00:08:19.520 align:start position:0% custom token contracts and uh we're 00:08:19.520 --> 00:08:22.270 align:start position:0% custom token contracts and uh we're currently<00:08:20.000> working<00:08:20.680> towards<00:08:21.479> uh<00:08:21.680> replacing 00:08:22.270 --> 00:08:22.280 align:start position:0% currently working towards uh replacing 00:08:22.280 --> 00:08:26.749 align:start position:0% currently working towards uh replacing them<00:08:22.680> with<00:08:23.560> uh<00:08:24.560> uh<00:08:25.000> with<00:08:25.159> the<00:08:25.400> standard<00:08:26.360> token 00:08:26.749 --> 00:08:26.759 align:start position:0% them with uh uh with the standard token 00:08:26.759 --> 00:08:28.189 align:start position:0% them with uh uh with the standard token contracts<00:08:27.319> that<00:08:27.479> that<00:08:27.560> were<00:08:27.800> discussed 00:08:28.189 --> 00:08:28.199 align:start position:0% contracts that that were discussed 00:08:28.199 --> 00:08:30.950 align:start position:0% contracts that that were discussed earlier 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of<00:08:39.959> this<00:08:40.360> sort<00:08:40.560> of 00:08:41.230 --> 00:08:41.240 align:start position:0% reasons um and so so all of this sort of 00:08:41.240 --> 00:08:42.870 align:start position:0% reasons um and so so all of this sort of um<00:08:41.360> brings<00:08:41.640> us<00:08:41.760> to<00:08:42.000> this<00:08:42.200> concept<00:08:42.519> of<00:08:42.680> a 00:08:42.870 --> 00:08:42.880 align:start position:0% um brings us to this concept of a 00:08:42.880 --> 00:08:45.790 align:start position:0% um brings us to this concept of a community<00:08:43.240> energy<00:08:43.560> Market<00:08:43.880> sharing<00:08:44.800> economy 00:08:45.790 --> 00:08:45.800 align:start position:0% community energy Market sharing economy 00:08:45.800 --> 00:08:49.389 align:start position:0% community energy Market sharing economy um<00:08:46.279> and<00:08:46.519> and<00:08:46.680> so<00:08:47.560> certainly<00:08:47.959> we've<00:08:48.240> seen<00:08:49.240> the 00:08:49.389 --> 00:08:49.399 align:start position:0% um and and so certainly we've seen the 00:08:49.399 --> 00:08:51.670 align:start position:0% um and and so certainly we've seen the rise<00:08:49.600> of<00:08:49.720> the<00:08:49.800> sharing<00:08:50.399> economy<00:08:51.399> play 00:08:51.670 --> 00:08:51.680 align:start position:0% rise of the sharing economy play 00:08:51.680 --> 00:08:55.070 align:start position:0% rise of the sharing economy play prominent<00:08:52.040> role<00:08:52.680> certainly<00:08:53.080> Uber<00:08:53.480> Airbnb<00:08:54.080> Etc 00:08:55.070 --> 00:08:55.080 align:start position:0% prominent role certainly Uber Airbnb Etc 00:08:55.080 --> 00:08:57.269 align:start position:0% prominent role certainly Uber Airbnb Etc and<00:08:55.320> and<00:08:55.480> we<00:08:55.640> think<00:08:56.000> the<00:08:56.519> community<00:08:56.920> energy 00:08:57.269 --> 00:08:57.279 align:start position:0% and and we think the community energy 00:08:57.279 --> 00:08:58.470 align:start position:0% and and we think the community energy Market<00:08:57.519> sharing<00:08:57.839> economy<00:08:58.160> has<00:08:58.279> some 00:08:58.470 --> 00:08:58.480 align:start position:0% Market sharing economy has some 00:08:58.480 --> 00:09:00.269 align:start position:0% Market sharing economy has some foundational<00:08:59.000> components<00:08:59.720> so<00:08:59.839> that's 00:09:00.269 --> 00:09:00.279 align:start position:0% foundational components so that's 00:09:00.279 --> 00:09:02.230 align:start position:0% foundational components so that's tokenization<00:09:01.279> effectively<00:09:01.720> what<00:09:01.839> Christian 00:09:02.230 --> 00:09:02.240 align:start position:0% tokenization effectively what Christian 00:09:02.240 --> 00:09:05.350 align:start position:0% tokenization effectively what Christian just<00:09:02.720> described<00:09:03.720> um<00:09:04.120> peer-to-peer<00:09:04.480> markets 00:09:05.350 --> 00:09:05.360 align:start position:0% just described um peer-to-peer markets 00:09:05.360 --> 00:09:07.710 align:start position:0% just described um peer-to-peer markets which<00:09:05.720> so<00:09:06.040> peer-to-peer<00:09:06.600> transactivity<00:09:07.600> is 00:09:07.710 --> 00:09:07.720 align:start position:0% which so peer-to-peer transactivity is 00:09:07.720 --> 00:09:10.030 align:start position:0% which so peer-to-peer transactivity is inherent<00:09:08.160> to<00:09:08.440> distributed<00:09:08.920> consensus 00:09:10.030 --> 00:09:10.040 align:start position:0% inherent to distributed consensus 00:09:10.040 --> 00:09:11.590 align:start position:0% inherent to distributed consensus systems 00:09:11.590 --> 00:09:11.600 align:start position:0% systems 00:09:11.600 --> 00:09:15.389 align:start position:0% systems um<00:09:12.600> and<00:09:12.760> we<00:09:12.920> think<00:09:13.920> the<00:09:14.160> rise<00:09:14.399> of<00:09:14.519> the<00:09:14.680> prummer 00:09:15.389 --> 00:09:15.399 align:start position:0% um and we think the rise of the prummer 00:09:15.399 --> 00:09:17.910 align:start position:0% um and we think the rise of the prummer will<00:09:15.560> be<00:09:16.480> uh<00:09:16.640> another<00:09:16.920> foundational<00:09:17.560> element 00:09:17.910 --> 00:09:17.920 align:start position:0% will be uh another foundational element 00:09:17.920 --> 00:09:21.310 align:start position:0% will be uh another foundational element to<00:09:18.240> this<00:09:18.760> economy<00:09:19.600> wherein<00:09:20.600> um<00:09:20.760> folks<00:09:21.120> can 00:09:21.310 --> 00:09:21.320 align:start position:0% to this economy wherein um folks can 00:09:21.320 --> 00:09:23.910 align:start position:0% to this economy wherein um folks can purchase<00:09:21.680> PBR<00:09:21.959> arays<00:09:22.399> and<00:09:22.560> they<00:09:22.640> can<00:09:22.920> actually 00:09:23.910 --> 00:09:23.920 align:start position:0% purchase PBR arays and they can actually 00:09:23.920 --> 00:09:26.509 align:start position:0% purchase PBR arays and they can actually produce<00:09:24.320> they<00:09:24.440> have<00:09:24.600> generative<00:09:25.160> capacity<00:09:26.160> um 00:09:26.509 --> 00:09:26.519 align:start position:0% produce they have generative capacity um 00:09:26.519 --> 00:09:28.230 align:start position:0% produce they have generative capacity um rather<00:09:26.760> than<00:09:26.959> just<00:09:27.160> being<00:09:27.399> sort<00:09:27.600> of<00:09:27.760> consumers 00:09:28.230 --> 00:09:28.240 align:start position:0% rather than just being sort of consumers 00:09:28.240 --> 00:09:30.509 align:start position:0% rather than just being sort of consumers in<00:09:28.399> this<00:09:28.560> oneway<00:09:28.959> relationship<00:09:29.600> with<00:09:29.680> the 00:09:30.509 --> 00:09:30.519 align:start position:0% in this oneway relationship with the 00:09:30.519 --> 00:09:32.470 align:start position:0% in this oneway relationship with the utility<00:09:31.519> uh<00:09:31.640> it's<00:09:31.800> actually<00:09:32.040> a<00:09:32.200> pretty 00:09:32.470 --> 00:09:32.480 align:start position:0% utility uh it's actually a pretty 00:09:32.480 --> 00:09:34.590 align:start position:0% utility uh it's actually a pretty important<00:09:32.959> concept<00:09:33.279> to<00:09:33.720> understand<00:09:34.360> because 00:09:34.590 --> 00:09:34.600 align:start position:0% important concept to understand because 00:09:34.600 --> 00:09:36.190 align:start position:0% important concept to understand because not<00:09:34.760> only<00:09:35.040> is<00:09:35.240> there<00:09:35.600> value<00:09:35.880> in<00:09:36.040> the 00:09:36.190 --> 00:09:36.200 align:start position:0% not only is there value in the 00:09:36.200 --> 00:09:38.350 align:start position:0% not only is there value in the production<00:09:36.560> of<00:09:36.720> energy<00:09:37.600> uh<00:09:37.720> on<00:09:37.839> the<00:09:37.959> grid<00:09:38.240> but 00:09:38.350 --> 00:09:38.360 align:start position:0% production of energy uh on the grid but 00:09:38.360 --> 00:09:39.990 align:start position:0% production of energy uh on the grid but there's<00:09:38.600> also<00:09:38.880> value<00:09:39.120> on<00:09:39.240> the<00:09:39.399> reduction<00:09:39.800> of 00:09:39.990 --> 00:09:40.000 align:start position:0% there's also value on the reduction of 00:09:40.000 --> 00:09:43.389 align:start position:0% there's also value on the reduction of energy<00:09:40.360> so<00:09:41.279> prosumers<00:09:42.279> can<00:09:42.600> not<00:09:42.760> only<00:09:43.040> produce 00:09:43.389 --> 00:09:43.399 align:start position:0% energy so prosumers can not only produce 00:09:43.399 --> 00:09:45.670 align:start position:0% energy so prosumers can not only produce energy<00:09:43.760> that<00:09:44.000> then<00:09:44.200> gets<00:09:44.480> used<00:09:45.200> by<00:09:45.480> themselves 00:09:45.670 --> 00:09:45.680 align:start position:0% energy that then gets used by themselves 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you can tokenize the value of<00:09:52.160> a<00:09:52.320> megawatt<00:09:53.040> and<00:09:53.160> a<00:09:53.680> negawatt<00:09:54.680> the<00:09:55.079> the<00:09:55.440> uh 00:09:55.670 --> 00:09:55.680 align:start position:0% of a megawatt and a negawatt the the uh 00:09:55.680 --> 00:09:57.790 align:start position:0% of a megawatt and a negawatt the the uh absence<00:09:56.560> of<00:09:56.760> that 00:09:57.790 --> 00:09:57.800 align:start position:0% absence of that 00:09:57.800 --> 00:10:00.750 align:start position:0% absence of that use<00:09:58.800> so<00:09:59.000> this<00:09:59.120> would<00:09:59.480> come<00:09:59.760> together<00:10:00.240> in<00:10:00.480> uh<00:10:00.600> or 00:10:00.750 --> 00:10:00.760 align:start position:0% use so this would come together in uh or 00:10:00.760 --> 00:10:02.630 align:start position:0% use so this would come together in uh or this<00:10:00.880> is<00:10:01.040> coming<00:10:01.440> together<00:10:01.760> in<00:10:02.120> the<00:10:02.240> Brooklyn 00:10:02.630 --> 00:10:02.640 align:start position:0% this is coming together in the Brooklyn 00:10:02.640 --> 00:10:05.310 align:start position:0% this is coming together in the Brooklyn Micro<00:10:03.040> grid<00:10:03.399> as<00:10:03.480> a<00:10:03.680> community<00:10:04.120> Esco<00:10:05.040> uh<00:10:05.200> this 00:10:05.310 --> 00:10:05.320 align:start position:0% Micro grid as a community Esco uh this 00:10:05.320 --> 00:10:07.829 align:start position:0% Micro grid as a community Esco uh this is<00:10:05.560> a<00:10:06.200> a<00:10:06.360> borp<00:10:06.880> a<00:10:07.000> public<00:10:07.240> benefits 00:10:07.829 --> 00:10:07.839 align:start position:0% is a a borp a public benefits 00:10:07.839 --> 00:10:10.030 align:start position:0% is a a borp a public benefits corporation<00:10:08.839> uh<00:10:09.079> and<00:10:09.240> it<00:10:09.360> runs<00:10:09.680> as<00:10:09.800> a 00:10:10.030 --> 00:10:10.040 align:start position:0% corporation uh and it runs as a 00:10:10.040 --> 00:10:13.750 align:start position:0% corporation uh and it runs as a nonprofit<00:10:11.040> that<00:10:11.240> then<00:10:12.240> transacts<00:10:13.120> the<00:10:13.320> energy 00:10:13.750 --> 00:10:13.760 align:start position:0% nonprofit that then transacts the energy 00:10:13.760 --> 00:10:15.630 align:start position:0% nonprofit that then transacts the energy or<00:10:13.959> sells<00:10:14.360> the<00:10:14.519> energy<00:10:14.839> back<00:10:15.000> and<00:10:15.120> forth<00:10:15.480> to 00:10:15.630 --> 00:10:15.640 align:start position:0% or sells the energy back and forth to 00:10:15.640 --> 00:10:17.630 align:start position:0% or sells the energy back and forth to the<00:10:15.800> community<00:10:16.800> um<00:10:17.000> from<00:10:17.200> the<00:10:17.320> people<00:10:17.560> that 00:10:17.630 --> 00:10:17.640 align:start position:0% the community um from the people that 00:10:17.640 --> 00:10:19.509 align:start position:0% the community um from the people that are<00:10:17.800> producing<00:10:18.240> energy<00:10:18.880> to<00:10:19.079> the<00:10:19.200> people<00:10:19.399> that 00:10:19.509 --> 00:10:19.519 align:start position:0% are producing energy to the people that 00:10:19.519 --> 00:10:23.949 align:start position:0% are producing energy to the people that are<00:10:19.720> consuming<00:10:20.560> the<00:10:20.839> uh<00:10:21.040> the<00:10:21.160> energy<00:10:21.440> in<00:10:21.600> the 00:10:23.949 --> 00:10:23.959 align:start position:0% 00:10:23.959 --> 00:10:26.389 align:start position:0% future<00:10:24.959> uh<00:10:25.399> maybe<00:10:25.600> I'll<00:10:25.760> just<00:10:25.880> talk<00:10:26.200> real 00:10:26.389 --> 00:10:26.399 align:start position:0% future uh maybe I'll just talk real 00:10:26.399 --> 00:10:30.790 align:start position:0% future uh maybe I'll just talk real quick<00:10:26.600> about<00:10:26.800> future<00:10:27.440> Milestones<00:10:28.440> um<00:10:29.800> so 00:10:30.790 --> 00:10:30.800 align:start position:0% quick about future Milestones um so 00:10:30.800 --> 00:10:32.230 align:start position:0% quick about future Milestones um so there's<00:10:31.000> this<00:10:31.240> concept<00:10:31.519> of<00:10:31.640> smart<00:10:31.880> meter 00:10:32.230 --> 00:10:32.240 align:start position:0% there's this concept of smart meter 00:10:32.240 --> 00:10:34.150 align:start position:0% there's this concept of smart meter proliferation<00:10:32.880> and<00:10:33.079> recently<00:10:33.680> New<00:10:33.880> York 00:10:34.150 --> 00:10:34.160 align:start position:0% proliferation and recently New York 00:10:34.160 --> 00:10:36.790 align:start position:0% proliferation and recently New York State<00:10:34.959> um<00:10:35.160> announced<00:10:36.040> that<00:10:36.279> in<00:10:36.399> the<00:10:36.519> coming 00:10:36.790 --> 00:10:36.800 align:start position:0% State um announced that in the coming 00:10:36.800 --> 00:10:38.870 align:start position:0% State um announced that in the coming year<00:10:37.040> there<00:10:37.160> will<00:10:37.399> be<00:10:38.040> upwards<00:10:38.360> of<00:10:38.560> five<00:10:38.720> or 00:10:38.870 --> 00:10:38.880 align:start position:0% year there will be upwards of five or 00:10:38.880 --> 00:10:40.430 align:start position:0% year there will be upwards of five or six<00:10:39.079> million<00:10:39.399> Smart<00:10:39.680> Meters<00:10:40.040> installed 00:10:40.430 --> 00:10:40.440 align:start position:0% six million Smart Meters installed 00:10:40.440 --> 00:10:42.509 align:start position:0% six million Smart Meters installed throughout<00:10:40.760> the<00:10:40.959> state<00:10:41.959> um<00:10:42.120> and<00:10:42.240> this<00:10:42.320> is 00:10:42.509 --> 00:10:42.519 align:start position:0% throughout the state um and this is 00:10:42.519 --> 00:10:45.550 align:start position:0% throughout the state um and this is significant<00:10:43.200> because<00:10:44.040> um<00:10:44.600> it's<00:10:44.800> a<00:10:45.120> it's<00:10:45.279> a 00:10:45.550 --> 00:10:45.560 align:start position:0% significant because um it's a it's a 00:10:45.560 --> 00:10:48.910 align:start position:0% significant because um it's a it's a substantial<00:10:46.279> upgrade<00:10:47.279> um<00:10:47.480> to<00:10:47.800> sort<00:10:47.959> of<00:10:48.120> the<00:10:48.480> ex 00:10:48.910 --> 00:10:48.920 align:start position:0% substantial upgrade um to sort of the ex 00:10:48.920 --> 00:10:50.590 align:start position:0% substantial upgrade um to sort of the ex existing<00:10:49.320> infrastructure<00:10:50.040> and<00:10:50.160> it<00:10:50.240> will<00:10:50.440> give 00:10:50.590 --> 00:10:50.600 align:start position:0% existing infrastructure and it will give 00:10:50.600 --> 00:10:53.430 align:start position:0% existing infrastructure and it will give us<00:10:50.880> much<00:10:51.079> richer<00:10:51.839> data<00:10:52.200> sets<00:10:52.480> so<00:10:52.760> much<00:10:53.120> more 00:10:53.430 --> 00:10:53.440 align:start position:0% us much richer data sets so much more 00:10:53.440 --> 00:10:56.190 align:start position:0% us much richer data sets so much more functional<00:10:54.040> Oracle<00:10:54.480> if<00:10:54.600> you<00:10:54.720> will<00:10:55.639> um<00:10:55.880> and<00:10:56.040> and 00:10:56.190 --> 00:10:56.200 align:start position:0% functional Oracle if you will um and and 00:10:56.200 --> 00:10:58.710 align:start position:0% functional Oracle if you will um and and this<00:10:56.320> seems<00:10:56.519> to<00:10:56.639> be<00:10:56.800> the<00:10:56.920> case<00:10:57.160> globally<00:10:58.120> um 00:10:58.710 --> 00:10:58.720 align:start position:0% this seems to be the case globally um 00:10:58.720 --> 00:11:00.389 align:start position:0% this seems to be the case globally um smart<00:10:59.000> met 00:11:00.389 --> 00:11:00.399 align:start position:0% smart met 00:11:00.399 --> 00:11:02.230 align:start position:0% smart met will<00:11:00.600> be<00:11:00.760> a<00:11:00.920> reality<00:11:01.440> all<00:11:01.600> over<00:11:01.760> the<00:11:01.880> world<00:11:02.160> in 00:11:02.230 --> 00:11:02.240 align:start position:0% will be a reality all over the world in 00:11:02.240 --> 00:11:06.190 align:start position:0% will be a reality all over the world in the<00:11:02.360> very<00:11:02.560> near<00:11:03.200> future<00:11:04.200> and<00:11:04.320> then<00:11:04.680> so<00:11:05.519> that 00:11:06.190 --> 00:11:06.200 align:start position:0% the very near future and then so that 00:11:06.200 --> 00:11:09.310 align:start position:0% the very near future and then so that iPhone<00:11:07.120> uh<00:11:07.360> display<00:11:07.800> image<00:11:08.160> is<00:11:08.440> is<00:11:08.600> how<00:11:08.800> we 00:11:09.310 --> 00:11:09.320 align:start position:0% iPhone uh display image is is how we 00:11:09.320 --> 00:11:12.069 align:start position:0% iPhone uh display image is is how we envision<00:11:10.320> um<00:11:11.040> ultimately<00:11:11.519> the<00:11:11.639> user 00:11:12.069 --> 00:11:12.079 align:start position:0% envision um ultimately the user 00:11:12.079 --> 00:11:14.990 align:start position:0% envision um ultimately the user interface<00:11:12.920> something<00:11:13.240> very<00:11:13.639> easy<00:11:14.639> um<00:11:14.839> we 00:11:14.990 --> 00:11:15.000 align:start position:0% interface something very easy um we 00:11:15.000 --> 00:11:17.750 align:start position:0% interface something very easy um we don't<00:11:15.360> Envision<00:11:15.800> an<00:11:16.000> interface<00:11:16.600> where<00:11:17.519> um 00:11:17.750 --> 00:11:17.760 align:start position:0% don't Envision an interface where um 00:11:17.760 --> 00:11:19.470 align:start position:0% don't Envision an interface where um consumers<00:11:18.200> or<00:11:18.360> prosumers<00:11:18.839> or<00:11:18.959> users<00:11:19.279> are 00:11:19.470 --> 00:11:19.480 align:start position:0% consumers or prosumers or users are 00:11:19.480 --> 00:11:21.670 align:start position:0% consumers or prosumers or users are bombarded<00:11:19.959> with<00:11:20.079> a<00:11:20.200> ton<00:11:20.360> of<00:11:20.560> options<00:11:21.000> and<00:11:21.560> and 00:11:21.670 --> 00:11:21.680 align:start position:0% bombarded with a ton of options and and 00:11:21.680 --> 00:11:24.190 align:start position:0% bombarded with a ton of options and and so<00:11:21.920> something<00:11:22.200> that<00:11:22.320> looks<00:11:22.600> like<00:11:23.079> a<00:11:23.279> trading 00:11:24.190 --> 00:11:24.200 align:start position:0% so something that looks like a trading 00:11:24.200 --> 00:11:26.550 align:start position:0% so something that looks like a trading kind<00:11:24.360> of<00:11:24.560> interface<00:11:25.560> uh<00:11:25.720> instead<00:11:26.160> we<00:11:26.279> want<00:11:26.399> to 00:11:26.550 --> 00:11:26.560 align:start position:0% kind of interface uh instead we want to 00:11:26.560 --> 00:11:28.750 align:start position:0% kind of interface uh instead we want to make<00:11:26.639> it<00:11:26.800> very<00:11:27.000> simple<00:11:27.440> so<00:11:27.600> that<00:11:27.760> you<00:11:27.880> can<00:11:28.600> just 00:11:28.750 --> 00:11:28.760 align:start position:0% make it very simple so that you can just 00:11:28.760 --> 00:11:32.269 align:start position:0% make it very simple so that you can just sort<00:11:28.920> of<00:11:29.560> set<00:11:30.399> um<00:11:31.279> uh<00:11:31.399> your<00:11:31.600> system<00:11:31.959> to<00:11:32.160> the 00:11:32.269 --> 00:11:32.279 align:start position:0% sort of set um uh your system to the 00:11:32.279 --> 00:11:33.590 align:start position:0% sort of set um uh your system to the things<00:11:32.519> that<00:11:32.600> you<00:11:32.760> care<00:11:32.959> about<00:11:33.160> so<00:11:33.320> in<00:11:33.440> this 00:11:33.590 --> 00:11:33.600 align:start position:0% things that you care about so in this 00:11:33.600 --> 00:11:35.069 align:start position:0% things that you care about so in this case<00:11:34.040> you<00:11:34.120> know<00:11:34.240> you've<00:11:34.399> got<00:11:34.480> the<00:11:34.600> dollar<00:11:34.839> sign 00:11:35.069 --> 00:11:35.079 align:start position:0% case you know you've got the dollar sign 00:11:35.079 --> 00:11:36.310 align:start position:0% case you know you've got the dollar sign so<00:11:35.240> maybe<00:11:35.399> you're<00:11:35.560> more<00:11:35.720> interested<00:11:36.079> in 00:11:36.310 --> 00:11:36.320 align:start position:0% so maybe you're more interested in 00:11:36.320 --> 00:11:38.629 align:start position:0% so maybe you're more interested in maximizing<00:11:36.880> your<00:11:37.040> financial<00:11:37.519> benefit<00:11:38.440> or 00:11:38.629 --> 00:11:38.639 align:start position:0% maximizing your financial benefit or 00:11:38.639 --> 00:11:40.389 align:start position:0% maximizing your financial benefit or maybe<00:11:38.839> you're<00:11:39.000> more<00:11:39.240> interested<00:11:39.639> in<00:11:40.040> you<00:11:40.160> know 00:11:40.389 --> 00:11:40.399 align:start position:0% maybe you're more interested in you know 00:11:40.399 --> 00:11:42.230 align:start position:0% maybe you're more interested in you know maximizing<00:11:41.000> environmental<00:11:41.600> benefits<00:11:42.040> or 00:11:42.230 --> 00:11:42.240 align:start position:0% maximizing environmental benefits or 00:11:42.240 --> 00:11:44.629 align:start position:0% maximizing environmental benefits or Community<00:11:42.720> benefits<00:11:43.200> Etc<00:11:43.959> and<00:11:44.079> so<00:11:44.240> the<00:11:44.360> system 00:11:44.629 --> 00:11:44.639 align:start position:0% Community benefits Etc and so the system 00:11:44.639 --> 00:11:47.030 align:start position:0% Community benefits Etc and so the system can<00:11:44.800> then<00:11:44.959> adjust<00:11:45.360> accordingly<00:11:46.160> um<00:11:46.800> and<00:11:46.959> we 00:11:47.030 --> 00:11:47.040 align:start position:0% can then adjust accordingly um and we 00:11:47.040 --> 00:11:48.629 align:start position:0% can then adjust accordingly um and we feel<00:11:47.240> this<00:11:47.360> is<00:11:47.480> a<00:11:47.639> critical<00:11:48.000> component<00:11:48.399> going 00:11:48.629 --> 00:11:48.639 align:start position:0% feel this is a critical component going 00:11:48.639 --> 00:11:51.590 align:start position:0% feel this is a critical component going forward<00:11:49.480> so<00:11:49.680> that<00:11:49.839> you'll<00:11:50.200> have<00:11:50.399> a<00:11:50.800> sort<00:11:51.079> of 00:11:51.590 --> 00:11:51.600 align:start position:0% forward so that you'll have a sort of 00:11:51.600 --> 00:11:54.750 align:start position:0% forward so that you'll have a sort of beneficent<00:11:52.600> sort<00:11:52.800> of<00:11:53.360> automated<00:11:54.360> Google 00:11:54.750 --> 00:11:54.760 align:start position:0% beneficent sort of automated Google 00:11:54.760 --> 00:11:57.550 align:start position:0% beneficent sort of automated Google driving<00:11:55.399> car<00:11:55.839> type<00:11:56.320> system<00:11:56.880> that<00:11:57.040> manages 00:11:57.550 --> 00:11:57.560 align:start position:0% driving car type system that manages 00:11:57.560 --> 00:12:00.550 align:start position:0% driving car type system that manages your<00:11:57.839> Energy<00:11:58.200> Efficiency<00:11:58.720> life 00:12:00.550 --> 00:12:00.560 align:start position:0% your Energy Efficiency life 00:12:00.560 --> 00:12:02.550 align:start position:0% your Energy Efficiency life essentially<00:12:01.560> so<00:12:01.720> the<00:12:01.839> potential<00:12:02.200> we<00:12:02.279> see<00:12:02.440> in 00:12:02.550 --> 00:12:02.560 align:start position:0% essentially so the potential we see in 00:12:02.560 --> 00:12:03.910 align:start position:0% essentially so the potential we see in the<00:12:02.680> future<00:12:03.160> uh<00:12:03.279> and<00:12:03.480> something<00:12:03.680> that<00:12:03.800> we're 00:12:03.910 --> 00:12:03.920 align:start position:0% the future uh and something that we're 00:12:03.920 --> 00:12:05.990 align:start position:0% the future uh and something that we're working<00:12:04.200> on<00:12:04.399> now<00:12:05.160> is<00:12:05.279> the<00:12:05.440> ability<00:12:05.800> to 00:12:05.990 --> 00:12:06.000 align:start position:0% working on now is the ability to 00:12:06.000 --> 00:12:08.750 align:start position:0% working on now is the ability to actually<00:12:06.320> control<00:12:06.880> grid<00:12:07.480> infrastructure<00:12:08.480> uh 00:12:08.750 --> 00:12:08.760 align:start position:0% actually control grid infrastructure uh 00:12:08.760 --> 00:12:11.590 align:start position:0% actually control grid infrastructure uh across<00:12:09.760> um<00:12:10.079> the<00:12:10.200> ethereum<00:12:10.600> network<00:12:11.200> using 00:12:11.590 --> 00:12:11.600 align:start position:0% across um the ethereum network using 00:12:11.600 --> 00:12:13.629 align:start position:0% across um the ethereum network using blockchain<00:12:12.120> technology<00:12:12.959> this<00:12:13.040> is<00:12:13.160> a<00:12:13.320> really 00:12:13.629 --> 00:12:13.639 align:start position:0% blockchain technology this is a really 00:12:13.639 --> 00:12:16.470 align:start position:0% blockchain technology this is a really interesting<00:12:14.639> infographic<00:12:15.560> that<00:12:15.880> um<00:12:16.079> shows<00:12:16.360> a 00:12:16.470 --> 00:12:16.480 align:start position:0% interesting infographic that um shows a 00:12:16.480 --> 00:12:18.750 align:start position:0% interesting infographic that um shows a lot<00:12:16.639> of<00:12:16.720> the<00:12:16.920> equipment<00:12:17.279> that's<00:12:17.560> connected<00:12:18.560> uh 00:12:18.750 --> 00:12:18.760 align:start position:0% lot of the equipment that's connected uh 00:12:18.760 --> 00:12:20.509 align:start position:0% lot of the equipment that's connected uh and<00:12:19.079> you<00:12:19.199> know<00:12:19.360> transporting<00:12:19.959> information 00:12:20.509 --> 00:12:20.519 align:start position:0% and you know transporting information 00:12:20.519 --> 00:12:23.389 align:start position:0% and you know transporting information back<00:12:20.680> and<00:12:20.880> forth<00:12:21.360> across<00:12:21.680> the<00:12:21.839> utility<00:12:22.399> grid 00:12:23.389 --> 00:12:23.399 align:start position:0% back and forth across the utility grid 00:12:23.399 --> 00:12:25.150 align:start position:0% back and forth across the utility grid um<00:12:23.920> you<00:12:24.040> know<00:12:24.160> there<00:12:24.240> are<00:12:24.399> obvious<00:12:24.760> benefits 00:12:25.150 --> 00:12:25.160 align:start position:0% um you know there are obvious benefits 00:12:25.160 --> 00:12:27.389 align:start position:0% um you know there are obvious benefits to<00:12:25.320> this<00:12:25.480> from<00:12:25.639> a<00:12:25.800> security<00:12:26.320> perspective<00:12:27.240> um 00:12:27.389 --> 00:12:27.399 align:start position:0% to this from a security perspective um 00:12:27.399 --> 00:12:28.790 align:start position:0% to this from a security perspective um there<00:12:27.519> are<00:12:27.680> also<00:12:28.000> benefits<00:12:28.399> that<00:12:28.519> could<00:12:28.639> be 00:12:28.790 --> 00:12:28.800 align:start position:0% there are also benefits that could be 00:12:28.800 --> 00:12:31.350 align:start position:0% there are also benefits that could be had<00:12:29.560> um<00:12:29.720> from<00:12:29.920> an<00:12:30.079> equity<00:12:30.519> perspective<00:12:31.160> as 00:12:31.350 --> 00:12:31.360 align:start position:0% had um from an equity perspective as 00:12:31.360 --> 00:12:33.350 align:start position:0% had um from an equity perspective as communities<00:12:32.000> start<00:12:32.240> to<00:12:32.399> own<00:12:32.839> a<00:12:32.920> bit<00:12:33.079> more<00:12:33.199> of 00:12:33.350 --> 00:12:33.360 align:start position:0% communities start to own a bit more of 00:12:33.360 --> 00:12:36.189 align:start position:0% communities start to own a bit more of their<00:12:33.480> own 00:12:36.189 --> 00:12:36.199 align:start position:0% 00:12:36.199 --> 00:12:38.670 align:start position:0% assets<00:12:37.199> uh<00:12:37.839> I<00:12:37.920> think<00:12:38.079> Christian's<00:12:38.480> going<00:12:38.600> to 00:12:38.670 --> 00:12:38.680 align:start position:0% assets uh I think Christian's going to 00:12:38.680 --> 00:12:39.990 align:start position:0% assets uh I think Christian's going to speak<00:12:38.880> to 00:12:39.990 --> 00:12:40.000 align:start position:0% speak to 00:12:40.000 --> 00:12:41.829 align:start position:0% speak to this<00:12:41.000> I 00:12:41.829 --> 00:12:41.839 align:start position:0% this I 00:12:41.839 --> 00:12:47.550 align:start position:0% this I guess<00:12:43.199> okay<00:12:44.199> so<00:12:44.560> so<00:12:44.720> this<00:12:44.920> could<00:12:45.160> be<00:12:46.120> uh<00:12:46.560> a 00:12:47.550 --> 00:12:47.560 align:start position:0% guess okay so so this could be uh a 00:12:47.560 --> 00:12:50.910 align:start position:0% guess okay so so this could be uh a potential<00:12:48.560> UI<00:12:49.120> like<00:12:49.279> a<00:12:49.600> dashboard<00:12:50.600> where<00:12:50.800> you 00:12:50.910 --> 00:12:50.920 align:start position:0% potential UI like a dashboard where you 00:12:50.920 --> 00:12:56.069 align:start position:0% potential UI like a dashboard where you can<00:12:51.560> see<00:12:52.560> um<00:12:53.199> exactly<00:12:54.199> what<00:12:54.800> benefits<00:12:55.800> you're 00:12:56.069 --> 00:12:56.079 align:start position:0% can see um exactly what benefits you're 00:12:56.079 --> 00:12:59.870 align:start position:0% can see um exactly what benefits you're getting<00:12:56.560> how<00:12:56.760> much<00:12:57.600> uh<00:12:58.600> uh<00:12:58.839> you 00:12:59.870 --> 00:12:59.880 align:start position:0% getting how much uh uh you 00:12:59.880 --> 00:13:03.030 align:start position:0% getting how much uh uh you buying<00:13:00.399> from<00:13:00.680> each<00:13:00.959> neighbor<00:13:01.760> for<00:13:02.040> instance 00:13:03.030 --> 00:13:03.040 align:start position:0% buying from each neighbor for instance 00:13:03.040 --> 00:13:04.629 align:start position:0% buying from each neighbor for instance uh<00:13:03.199> so<00:13:03.399> you<00:13:03.519> can<00:13:03.680> see<00:13:04.000> there<00:13:04.160> you<00:13:04.360> have<00:13:04.480> a 00:13:04.629 --> 00:13:04.639 align:start position:0% uh so you can see there you have a 00:13:04.639 --> 00:13:07.910 align:start position:0% uh so you can see there you have a little<00:13:05.360> leaderboard<00:13:06.320> going<00:13:06.519> on<00:13:06.880> there<00:13:07.240> where 00:13:07.910 --> 00:13:07.920 align:start position:0% little leaderboard going on there where 00:13:07.920 --> 00:13:09.189 align:start position:0% little leaderboard going on there where where 00:13:09.189 --> 00:13:09.199 align:start position:0% where 00:13:09.199 --> 00:13:15.230 align:start position:0% where U<00:13:10.199> uh<00:13:10.639> Na<00:13:10.880> neighbor<00:13:11.399> 3<00:13:12.079> is<00:13:12.240> in<00:13:12.399> the<00:13:12.760> lead<00:13:13.760> and<00:13:14.240> so 00:13:15.230 --> 00:13:15.240 align:start position:0% U uh Na neighbor 3 is in the lead and so 00:13:15.240 --> 00:13:17.269 align:start position:0% U uh Na neighbor 3 is in the lead and so this<00:13:15.360> is<00:13:15.600> kind<00:13:15.760> of<00:13:16.320> what<00:13:16.440> we<00:13:16.560> want<00:13:16.680> to<00:13:16.880> present 00:13:17.269 --> 00:13:17.279 align:start position:0% this is kind of what we want to present 00:13:17.279 --> 00:13:22.350 align:start position:0% this is kind of what we want to present to<00:13:17.519> the<00:13:17.800> user<00:13:18.800> to<00:13:19.160> abstract<00:13:19.839> away<00:13:20.360> the<00:13:20.880> the 00:13:22.350 --> 00:13:22.360 align:start position:0% to the user to abstract away the the 00:13:22.360 --> 00:13:28.150 align:start position:0% to the user to abstract away the the underlying<00:13:23.360> market<00:13:24.160> so<00:13:24.720> so<00:13:25.000> in<00:13:25.199> the<00:13:25.920> in<00:13:26.199> the<00:13:27.160> uh 00:13:28.150 --> 00:13:28.160 align:start position:0% underlying market so so in the in the uh 00:13:28.160 --> 00:13:31.629 align:start position:0% underlying market so so in the in the uh uh<00:13:29.240> on<00:13:29.399> the<00:13:29.600> back<00:13:29.800> end<00:13:30.079> on<00:13:30.199> the<00:13:30.360> contract<00:13:30.800> layer 00:13:31.629 --> 00:13:31.639 align:start position:0% uh on the back end on the contract layer 00:13:31.639 --> 00:13:34.910 align:start position:0% uh on the back end on the contract layer this<00:13:31.800> would<00:13:32.079> actually<00:13:32.639> be<00:13:33.639> tokens<00:13:34.480> being 00:13:34.910 --> 00:13:34.920 align:start position:0% this would actually be tokens being 00:13:34.920 --> 00:13:37.670 align:start position:0% this would actually be tokens being created<00:13:35.320> and<00:13:35.920> destroyed<00:13:36.920> uh<00:13:37.120> the<00:13:37.279> token 00:13:37.670 --> 00:13:37.680 align:start position:0% created and destroyed uh the token 00:13:37.680 --> 00:13:39.870 align:start position:0% created and destroyed uh the token implements<00:13:38.320> the<00:13:38.800> standard<00:13:39.360> contract 00:13:39.870 --> 00:13:39.880 align:start position:0% implements the standard contract 00:13:39.880 --> 00:13:42.670 align:start position:0% implements the standard contract interface<00:13:40.639> so<00:13:40.839> they<00:13:40.959> can<00:13:41.079> be<00:13:41.279> traded<00:13:41.839> on<00:13:42.120> on<00:13:42.320> a 00:13:42.670 --> 00:13:42.680 align:start position:0% interface so they can be traded on on a 00:13:42.680 --> 00:13:46.069 align:start position:0% interface so they can be traded on on a on<00:13:42.839> an<00:13:43.160> exchange<00:13:43.839> like<00:13:44.040> ether<00:13:44.399> X<00:13:44.639> for<00:13:45.079> instance 00:13:46.069 --> 00:13:46.079 align:start position:0% on an exchange like ether X for instance 00:13:46.079 --> 00:13:48.829 align:start position:0% on an exchange like ether X for instance and<00:13:46.760> so<00:13:47.760> that's<00:13:47.959> going<00:13:48.079> to<00:13:48.199> be<00:13:48.360> at<00:13:48.480> the<00:13:48.639> back 00:13:48.829 --> 00:13:48.839 align:start position:0% and so that's going to be at the back 00:13:48.839 --> 00:13:52.550 align:start position:0% and so that's going to be at the back end<00:13:49.240> and<00:13:49.360> it's<00:13:49.480> going<00:13:49.600> to<00:13:49.839> be<00:13:51.040> visualized<00:13:52.040> as 00:13:52.550 --> 00:13:52.560 align:start position:0% end and it's going to be visualized as 00:13:52.560 --> 00:13:58.350 align:start position:0% end and it's going to be visualized as as<00:13:52.839> this<00:13:53.720> you<00:13:53.920> know<00:13:54.920> nice<00:13:55.440> easy<00:13:55.759> to<00:13:56.120> consume<00:13:57.360> UI 00:13:58.350 --> 00:13:58.360 align:start position:0% as this you know nice easy to consume UI 00:13:58.360 --> 00:14:01.310 align:start position:0% as this you know nice easy to consume UI and<00:13:58.600> and<00:13:58.759> also<00:13:59.279> as<00:13:59.600> as<00:13:59.800> Lawrence<00:14:00.320> mentioned 00:14:01.310 --> 00:14:01.320 align:start position:0% and and also as as Lawrence mentioned 00:14:01.320 --> 00:14:03.629 align:start position:0% and and also as as Lawrence mentioned you<00:14:01.480> would<00:14:01.680> be<00:14:01.800> able<00:14:02.000> to<00:14:02.240> set<00:14:02.560> it<00:14:03.120> based<00:14:03.440> on 00:14:03.629 --> 00:14:03.639 align:start position:0% you would be able to set it based on 00:14:03.639 --> 00:14:07.990 align:start position:0% you would be able to set it based on these<00:14:03.920> high<00:14:04.279> level<00:14:05.279> values<00:14:06.000> like<00:14:06.440> I<00:14:06.720> I<00:14:06.800> want<00:14:07.000> to 00:14:07.990 --> 00:14:08.000 align:start position:0% these high level values like I I want to 00:14:08.000 --> 00:14:10.310 align:start position:0% these high level values like I I want to you<00:14:08.120> know<00:14:08.519> I<00:14:08.600> want<00:14:08.720> to<00:14:08.880> save<00:14:09.160> money<00:14:09.720> I<00:14:09.839> want 00:14:10.310 --> 00:14:10.320 align:start position:0% you know I want to save money I want 00:14:10.320 --> 00:14:13.189 align:start position:0% you know I want to save money I want more<00:14:10.600> green<00:14:10.959> energy<00:14:11.720> I<00:14:11.839> want<00:14:11.959> to<00:14:12.519> buy<00:14:12.759> from<00:14:13.040> my 00:14:13.189 --> 00:14:13.199 align:start position:0% more green energy I want to buy from my 00:14:13.199 --> 00:14:16.110 align:start position:0% more green energy I want to buy from my local<00:14:13.560> community 00:14:16.110 --> 00:14:16.120 align:start position:0% local community 00:14:16.120 --> 00:14:19.790 align:start position:0% local community Etc<00:14:17.120> right<00:14:17.440> so<00:14:17.920> um<00:14:18.920> the<00:14:19.040> amount<00:14:19.279> of<00:14:19.440> energy 00:14:19.790 --> 00:14:19.800 align:start position:0% Etc right so um the amount of energy 00:14:19.800 --> 00:14:21.509 align:start position:0% Etc right so um the amount of energy that<00:14:19.920> people<00:14:20.120> are<00:14:20.279> actually<00:14:20.560> consuming<00:14:21.079> using 00:14:21.509 --> 00:14:21.519 align:start position:0% that people are actually consuming using 00:14:21.519 --> 00:14:23.430 align:start position:0% that people are actually consuming using could<00:14:21.720> save<00:14:22.079> or<00:14:22.240> could<00:14:22.399> buy<00:14:22.639> across<00:14:23.079> this<00:14:23.199> is 00:14:23.430 --> 00:14:23.440 align:start position:0% could save or could buy across this is 00:14:23.440 --> 00:14:25.230 align:start position:0% could save or could buy across this is probably<00:14:23.800> less<00:14:24.040> interesting<00:14:24.920> uh<00:14:25.040> you<00:14:25.120> know 00:14:25.230 --> 00:14:25.240 align:start position:0% probably less interesting uh you know 00:14:25.240 --> 00:14:27.470 align:start position:0% probably less interesting uh you know from<00:14:25.360> a<00:14:25.519> dollar<00:14:25.920> perspective<00:14:26.480> so<00:14:27.040> the<00:14:27.199> intent 00:14:27.470 --> 00:14:27.480 align:start position:0% from a dollar perspective so the intent 00:14:27.480 --> 00:14:29.069 align:start position:0% from a dollar perspective so the intent is<00:14:27.600> to<00:14:27.759> connect<00:14:28.120> when<00:14:28.240> it<00:14:28.360> gets<00:14:28.519> down<00:14:28.639> to<00:14:28.720> the 00:14:29.069 --> 00:14:29.079 align:start position:0% is to connect when it gets down to the 00:14:29.079 --> 00:14:31.749 align:start position:0% is to connect when it gets down to the consumer<00:14:29.800> level<00:14:30.360> uh<00:14:30.480> connect<00:14:30.800> us<00:14:31.120> through 00:14:31.749 --> 00:14:31.759 align:start position:0% consumer level uh connect us through 00:14:31.759 --> 00:14:34.749 align:start position:0% consumer level uh connect us through reputation<00:14:32.759> uh<00:14:33.000> into<00:14:33.399> social<00:14:33.759> networks<00:14:34.519> uh<00:14:34.639> so 00:14:34.749 --> 00:14:34.759 align:start position:0% reputation uh into social networks uh so 00:14:34.759 --> 00:14:36.670 align:start position:0% reputation uh into social networks uh so that<00:14:34.880> we<00:14:35.000> can<00:14:35.160> actually<00:14:35.959> provide<00:14:36.360> some<00:14:36.480> of<00:14:36.600> the 00:14:36.670 --> 00:14:36.680 align:start position:0% that we can actually provide some of the 00:14:36.680 --> 00:14:38.430 align:start position:0% that we can actually provide some of the things<00:14:36.880> that<00:14:37.079> people<00:14:37.320> care<00:14:37.600> about<00:14:37.959> other<00:14:38.199> than 00:14:38.430 --> 00:14:38.440 align:start position:0% things that people care about other than 00:14:38.440 --> 00:14:39.670 align:start position:0% things that people care about other than you<00:14:38.560> know<00:14:38.680> the<00:14:38.759> few<00:14:39.000> dollars<00:14:39.240> a<00:14:39.360> month<00:14:39.560> they 00:14:39.670 --> 00:14:39.680 align:start position:0% you know the few dollars a month they 00:14:39.680 --> 00:14:42.629 align:start position:0% you know the few dollars a month they might<00:14:39.839> have<00:14:40.000> saved<00:14:40.480> or<00:14:40.920> generated<00:14:41.920> uh<00:14:42.199> across 00:14:42.629 --> 00:14:42.639 align:start position:0% might have saved or generated uh across 00:14:42.639 --> 00:14:44.749 align:start position:0% might have saved or generated uh across the 00:14:44.749 --> 00:14:44.759 align:start position:0% the 00:14:44.759 --> 00:14:47.069 align:start position:0% the system<00:14:45.759> so<00:14:45.920> this<00:14:46.000> is<00:14:46.120> the<00:14:46.199> core<00:14:46.480> team<00:14:46.880> we've 00:14:47.069 --> 00:14:47.079 align:start position:0% system so this is the core team we've 00:14:47.079 --> 00:14:48.550 align:start position:0% system so this is the core team we've been<00:14:47.199> working<00:14:47.440> on<00:14:47.600> this<00:14:47.800> thing<00:14:48.279> probably 00:14:48.550 --> 00:14:48.560 align:start position:0% been working on this thing probably 00:14:48.560 --> 00:14:51.629 align:start position:0% been working on this thing probably about<00:14:48.959> uh<00:14:49.079> seven<00:14:49.360> eight<00:14:49.560> months 00:14:51.629 --> 00:14:51.639 align:start position:0% about uh seven eight months 00:14:51.639 --> 00:14:54.389 align:start position:0% about uh seven eight months now<00:14:52.639> and<00:14:52.800> do<00:14:52.920> we<00:14:53.079> have<00:14:53.199> time<00:14:53.320> for 00:14:54.389 --> 00:14:54.399 align:start position:0% now and do we have time for 00:14:54.399 --> 00:15:01.870 align:start position:0% now and do we have time for question<00:14:55.399> any<00:14:55.639> questions 00:15:01.870 --> 00:15:01.880 align:start position:0% 00:15:01.880 --> 00:15:04.069 align:start position:0% yeah 00:15:04.069 --> 00:15:04.079 align:start position:0% yeah 00:15:04.079 --> 00:15:11.389 align:start position:0% yeah okay<00:15:05.079> oh<00:15:05.639> question<00:15:05.959> back<00:15:06.120> here 00:15:11.389 --> 00:15:11.399 align:start position:0% 00:15:11.399 --> 00:15:14.030 align:start position:0% sorry<00:15:12.399> uh<00:15:12.639> yeah<00:15:12.959> you<00:15:13.160> can<00:15:13.519> so<00:15:13.680> we're<00:15:13.839> looking 00:15:14.030 --> 00:15:14.040 align:start position:0% sorry uh yeah you can so we're looking 00:15:14.040 --> 00:15:15.870 align:start position:0% sorry uh yeah you can so we're looking at<00:15:14.240> other<00:15:14.440> ways<00:15:14.720> that<00:15:15.000> uh<00:15:15.519> that<00:15:15.639> you<00:15:15.720> can 00:15:15.870 --> 00:15:15.880 align:start position:0% at other ways that uh that you can 00:15:15.880 --> 00:15:17.470 align:start position:0% at other ways that uh that you can collect<00:15:16.199> the<00:15:16.320> information<00:15:16.880> without<00:15:17.079> a<00:15:17.240> smart 00:15:17.470 --> 00:15:17.480 align:start position:0% collect the information without a smart 00:15:17.480 --> 00:15:19.310 align:start position:0% collect the information without a smart meter<00:15:18.199> um<00:15:18.360> smart<00:15:18.600> meters<00:15:18.839> are<00:15:18.959> becoming 00:15:19.310 --> 00:15:19.320 align:start position:0% meter um smart meters are becoming 00:15:19.320 --> 00:15:22.590 align:start position:0% meter um smart meters are becoming pretty<00:15:19.560> ubiquitous<00:15:20.560> but<00:15:20.880> uh<00:15:21.600> there<00:15:21.720> are<00:15:21.920> also 00:15:22.590 --> 00:15:22.600 align:start position:0% pretty ubiquitous but uh there are also 00:15:22.600 --> 00:15:23.910 align:start position:0% pretty ubiquitous but uh there are also uh<00:15:22.720> quite<00:15:22.880> a<00:15:23.000> few<00:15:23.160> Technologies<00:15:23.639> out<00:15:23.800> there 00:15:23.910 --> 00:15:23.920 align:start position:0% uh quite a few Technologies out there 00:15:23.920 --> 00:15:26.230 align:start position:0% uh quite a few Technologies out there that<00:15:24.079> can<00:15:24.399> that<00:15:24.519> can<00:15:24.680> approximate<00:15:25.399> that<00:15:25.880> it's 00:15:26.230 --> 00:15:26.240 align:start position:0% that can that can approximate that it's 00:15:26.240 --> 00:15:27.910 align:start position:0% that can that can approximate that it's easiest<00:15:26.600> to<00:15:26.680> use<00:15:26.880> the<00:15:27.000> utilities<00:15:27.440> meter 00:15:27.910 --> 00:15:27.920 align:start position:0% easiest to use the utilities meter 00:15:27.920 --> 00:15:29.389 align:start position:0% easiest to use the utilities meter because<00:15:28.120> the<00:15:28.240> utility<00:15:28.639> is<00:15:29.000> supplying<00:15:29.279> your 00:15:29.389 --> 00:15:29.399 align:start position:0% because the utility is supplying your 00:15:29.399 --> 00:15:30.990 align:start position:0% because the utility is supplying your energy<00:15:29.720> they're<00:15:29.880> actually<00:15:30.120> billing<00:15:30.480> you 00:15:30.990 --> 00:15:31.000 align:start position:0% energy they're actually billing you 00:15:31.000 --> 00:15:33.069 align:start position:0% energy they're actually billing you against<00:15:31.279> what<00:15:31.399> happens<00:15:31.639> on<00:15:31.759> that<00:15:31.920> meter<00:15:32.279> so 00:15:33.069 --> 00:15:33.079 align:start position:0% against what happens on that meter so 00:15:33.079 --> 00:15:34.590 align:start position:0% against what happens on that meter so our<00:15:33.279> network<00:15:33.639> is<00:15:33.839> obviously<00:15:34.160> going<00:15:34.279> to<00:15:34.360> be<00:15:34.480> as 00:15:34.590 --> 00:15:34.600 align:start position:0% our network is obviously going to be as 00:15:34.600 --> 00:15:35.670 align:start position:0% our network is obviously going to be as good<00:15:34.759> as 00:15:35.670 --> 00:15:35.680 align:start position:0% good as 00:15:35.680 --> 00:15:37.629 align:start position:0% good as that<00:15:36.680> another 00:15:37.629 --> 00:15:37.639 align:start position:0% that another 00:15:37.639 --> 00:15:51.189 align:start position:0% that another question 00:15:51.189 --> 00:15:51.199 align:start position:0% 00:15:51.199 --> 00:15:56.309 align:start position:0% yes<00:15:52.199> what's<00:15:52.360> the<00:15:52.480> name<00:15:52.639> again<00:15:52.839> can<00:15:52.959> you<00:15:53.079> repeat 00:15:56.309 --> 00:15:56.319 align:start position:0% 00:15:56.319 --> 00:15:59.470 align:start position:0% it<00:15:57.319> yeah<00:15:57.720> maybe<00:15:57.920> show<00:15:58.160> us<00:15:58.480> after 00:15:59.470 --> 00:15:59.480 align:start position:0% it yeah maybe show us after 00:15:59.480 --> 00:16:02.430 align:start position:0% it yeah maybe show us after sounds<00:15:59.920> good<00:16:00.920> great<00:16:01.800> all<00:16:01.920> right<00:16:02.040> thank<00:16:02.199> you<00:16:02.279> so 00:16:02.430 --> 00:16:02.440 align:start position:0% sounds good great all right thank you so 00:16:02.440 --> 00:16:09.180 align:start position:0% sounds good great all right thank you so much<00:16:02.759> thank<00:16:02.920> you 00:16:09.180 --> 00:16:09.190 align:start position:0% 00:16:09.190 --> 00:16:13.079 align:start position:0% [Music]