This week our team’s plan was to deepen our knowledge about Nem mosaics and how electricity networks actually work. We also looked into what kind of resources we would need to make something applicable to Finland. In addition of this we also found parties that could possibly help us.
We accomplished to get a better understanding of the thing we are trying to make. W e also assured that making something that is straight a way usable in Finnish electricity network won’t be possible.
Next week we are hoping to contact some people that could help us. We are also still deepening our knowledge about mosaics and hopefully get some coding practice done already. We are also having our second presentation next Friday.
What problem is being solved?
We are currently solving the problem of continuous usage of the electricity. The problem is that there is no effective way to use renewable energy sources and possibility sell it in exchange to reasonable reward.
How user experiences the problem?
Using for example solar panel and selling the generated electricity is not integrated to any kind of electricity grid, thus leaving the electricity unused.
Our solution ensures that the technology will provide user with highest possible reward for generated energy, also which will possibly lower the electricity bill.
Last week we ended up with 6 ideas and the intention to review each of them, here’s how we did.
We went more in depth and discussed as a group the pros and cons of each idea, and on that essentially organizing an opportunity tournament. We got to think more about each idea on a conceptual basis – what potential unknowns and problems might be and also what positive sides it had.
Doing this we managed to filter out a top 3 which was
Energy grid solution
And to decide which one we wanted to proceed with we did more thinking and googling on these potential topics and then voted within the team distributing 3-1 points per team-member. After a close shave the energy grid solution came out on top.
Going forward we distributed different team roles and responsibilities to be able to efficiently attack the energy grid solution head on and start doing work. For starters it will mostly be more research on the micro-grid, Finnish electricity grid and blockchain contract solutions.
We also started writing our project plan and it should be finished by Monday (9.10) next week.
Our mission statement will also be worked on – currently it is something like this:
Incentive to produce own energy and sell it to gain $$$$$$
This weeks agenda was to come up with a number of potential topics and to chart each person’s interest and thoughts on the subject. The goal was to find interesting ideas and help us proceed in choosing our subject that we will continue to work on.
To do this we used three different tools for generating ideas:
- Standard brainstorming with free-flowing ideas we had thought of beforehand
- Brain-writing where we tried to build upon each others’ ideas.
- The six thinking hats method where we tried to improve and see the ideas we had already come up with from different angles.(https://en.wikipedia.org/wiki/Six_Thinking_Hats)
We feel we made good progress this week generating 6 solid ideas we can move on with and build upon. The brainstorming and brain-writing was where we had most success in finding interesting ideas.
The ideas are:
- Electricity grid (to Fortum?) [ethereum smart contracts]
- Supply chain- project (to NEM? Indepently?) [like Fishcoin]
- Enhancing current Databases using NEM technology (to NEM)
- Decentralized Marketplace buy/sell (ethereum smart contracts)
- Decentralized computing power (like Golem-poject)
- DNS (Domain name system)
After having these ideas we made an uncertainty horizon map that looks like this with corresponding numbers to ideas listed above:
Since all our ideas are based on the same blockchain technology they all land similarly on the x-axis point which represents known technology that is not yet widely implemented.
We decided we will each review the ideas, and going forward be able to discuss and vote which topic we will continue in this project – hopefully one that is interesting and understandable by every group member.
Might still edit this post with more information after our group meeting tomorrow (Friday 29.9)
Blockchains were initially designed to keep the history and balance of multiple accounts validated and approved by destributing the information between multiple units. With the distribution of the currency, each “maintainer” has a chance of earning currency by finding a “block” which is found by guessing the hash of the block. This function operation which is usually cryptocurrency specific is pretty costly in terms of computational power.
Our team goal is to modify the computational operation that will keep the blockchain up and running, solving real world computational problems at the same time.
The computational power can be applied by individuals or organizations that need it creating main group of stakeholders.
After Bitcoin’s appearance, blockchains have become quite popular topic among people and media. Still, even though the technology isn’t exactly new anymore, there aren’t that many technical implementations for it.
Our team goal is to find new ideas and solutions how to one could make use of this technology. We might still lack some experience and we are uncertain how successful the project will be, but we all find the topic exiting and are remaining positive.