[twohlix_]

Especially with a centralized authority being LO3. I don't get the point of using a blockchain in this case, who is confirming the transacations? What is the incentive for confirmation?

Also if LO3s customers are just buying from the grid, are they paying LO3 on top of what they pay their utility? If so what is the value added by LO3 at all?

[azinman2]

Right. Because if LO3 is the one who is auditing and moving money around, why do we need a Blockchain at all? Can’t a database they admin do the same thing?

[agumonkey]

Well a block chain is inherently auditable isn't it ? I thought it was an open tech, not a closed system.

[azinman2]

But is that something people really need? To be able to audit their electricity transactions via the blockchain? Someone is going to have to write a tool (this is well beyond the average person), and that tool could easily be flawed. The meters themselves also aren't easily auditable... so many points of failure why is a blockchain the thing that matters?

[agumonkey]

I thought the tooling was already there, you would "just" push your transaction on the network and let it be.

[azinman2]

What tooling exists for me to aggregate my electricity costs against anonymous wallet hashes and see the unique amounts to each neighbor?

[agumonkey]

Disclaimer: never used BC. I meant BC and ETH are generic data structure, you put anything you want in it and retrieve later to create a new transaction.

[nikanj]

The value is added to LO3's shareholders, not the users. This is a common theme with companies nowadays.