Short Story

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Ideascale link

Problem statement :

Venue owners lose money when power outlets are accessed without permission. They can absorb the cost, or attempt to restrict access.

Describe your solution to the problem

Usage-based energy payment solution that enables venue owners to monetise power sockets located in public areas and shared accommodation.

Relevant experience

Team of veteran domain experts with decades of experience working in tech startups and large enterprises; embedded systems, IoT, blockchain.

Detailed plan (not required) – Fill in here any additional details

Every organisation has a need to keep energy costs low especially during the pandemic. The problem is restricting access to power sockets is difficult, particularly if they are located within public spaces. Venue owners lose money when their power outlets are accessed without their permission.
They can either absorb the cost, or attempt to restrict access. Enclosed spaces such as offices are better able to prevent unauthorised access, and retail outlets can afford to allow customers to plugin as this has been factored in the price of goods sold. However, any publicly accessible area that has sockets intended for contract staff and employees are at most risk of exploitation. Potential solutions include signage, non-standard plug sockets, remote surveillance, human inspection, or locking devices. The problem is that all these measures are easily circumvented, tedious to implement, and only serve to frustrate and annoy members of the general public.
We plan to build a basic proof-of-concept (POC) in the form of a tamper-resistant blockchain-connected smart plug featuring an electricity meter and Daedalus wallet. Users would scan a QR code attached to the plug. This would inform them of the price per kWh and provide instructions on how to proceed. The plug owner would be able to set the price per kWh and receive payment instantly. Even small amounts of energy could be purchased as Cardano transactions do not involve exorbitant gas fees or legacy bank charges. The POC will keep an immutable record of each watt of energy consumed (xADA per kWh) for accounting purposes. The market opportunity for frictionless energy payments is vast, so the business case described should be viewed as a beachhead strategy to encourage wider adoption of ADA. The solution could be applied to almost any machine-based activity.
We are a team of three veteran domain specialists with decades of combined experience working in tech startups and large enterprises. Our combined core competencies are business strategy, embedded systems, financial services, and infrastructure management. We have advanced or intermediate knowledge of Python, Java, Javascript, Solidity, HTML, PHP and SQL. Our culture is strongly rooted in the philosophy of Web 3.0; decentralised, distributed, and open. We are blockchain/token agnostic and have developed several simple POCs using Ethereum, IOTA, and Hyperledger to test each protocol’s limitations and capabilities. None of the aforementioned have met our expectations so far. We need it to be sufficiently robust as we plan to develop mission-critical industrial applications. Cardano looks like it could be the best fit for our needs going forward, which is our primary motivation for engaging with the community.
Project Scope:
The idea as described in the problem statement is really just one of many potential business cases. If anyone in the community would like to run with it then we encourage them to do so! The go-to-market strategy would involve contacting consumer-facing retail and hospitality businesses, conference organisers, real estate management companies, sports venues etc. Basically anywhere that has publicly accessible power sockets. We are exploring how blockchain technology could be used to facilitate machine micro-payments across several industrial machine verticals including mining, energy, and construction. We are also exploring if we can use the technology described above to help crypto-miners pay for energy used to power Mobile Crypto-Mining Units (MCMUs). In short, we would like to use this opportunity to engage with the Cardano Community and build something that will be of value to all who need it. The scope of this project is purely to develop the POC. It does not involve any go-to-market activities.
Software Development:
Create a Dapp and/or a simple web interface with API integration between the smart plug components and the Cardano testnet.
Design a simple UX that enables power providers to register, link their account to a Daedalus wallet and set the energy price for each plug socket. Enable energy buyers to register, link their account to a Daedalus wallet and set payment permission criteria.
Hardware Components:
Raspberry Pis
Voltage Regulators
Arduinos
Micro-controllers
PCB and components
Power supplies and connectors
Wireless switches and current sensors
3D Printed parts
[more complete list to follow]
Timeline:
2-3 months
A recent blog post relating to this project “Autonomous machines will need cryptocurrency to function”: https://bit.ly/38okBst
Compantwy website: https://www.mx3cs.com/
Twitter: https://twitter.com/Mx3Cs

Requested funds in USD. Only use numbers! No symbols, letters, fractions. Payment will be in ada. 20000

Which of these definitions apply to you? Developer, Entrepreneur

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Smart Plug + Daedalus Wallet

Goal: $20,000.00
318 Campaigns | 0 Loved campaigns

Story

Autonomous Machines will need Cryptocurrency to FunctionYou can listen to the audio format of this article via SoundCloud by clicking here. At MX3 CS we aspire to build and deploy decentralised blockchain applications (dApps) for heavy industrial machinery and robots.

MX3 Commerce Solutions Ltd (MX3 CS)

MX3 Commerce Solutions Ltd (MX3 CS)MX3 Commerce Solutions Ltd (MX3 CS)

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