On this week’s section of COINGEEK Weekly livestreamBinary founder Mitch Burcham Told Kurt Wuckert Jr. About the condition in the US network, how solar energy will revolutionize energy and how a more robust, decentralized network can be built on the Bitcoin protocol.
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Who is mitch cageCham? And a little about the American grid
Burcham is an entrepreneur and founder of Binary. He is too National blockchain director at Homeland Security Taskforce, which gives him unique insight into both the government and business world.
Burcham describes in recent years of his life as a “deep dive” in the American network. He describes it as very complex and originally built of central planning. At the start, AC (AC) won and they received economies of scale via coal -fired plants and hydrodams.
Although it still works well, the way it was designed to be designed. Everything relies on the management owned by the companies that built the network, and today it depends on the monolithic structures they control. Burcham describes this as “infrastructure Jenga”, warns that it will inevitably collapse.
This inevitable collapse is a move in the top-down model, Burcham says. Thankfully we have now Solar panels—A distributed technology that can run almost anything locally.
What is Burcham’s idea for a more robust grid?
Burcham begins his answer by saying an obvious fact: the sun is the largest energy producer we will ever find. It emits unlimited energy wirelessly and gives him nuclear fusion on the roof. The earth has always been and will always be solar energy, so this source of energy is part of the solution for him.
However, the source of power is just an element in a more robust, decentralized grid. They produce direct current (DC) electricity, which must be inverted, and inverters introduces vulnerabilities as cyber security threat. In its vision, the power would be transferred between AC Islands, and energy from roof panels would stabilize the network.
Currently, Burcham and his team are trying to build a state machine To let all stakeholders see the state of the network and any action is taken. The ultimate goal is seamless coordination and competition between nodes.
Wuckert mentions the cost of solar settings and how they become less effective over time as potential obstacles to a system like this. Burcham expects the cost of solar panels to have dropped 90% in 20 years, but batteries are still relatively expensive. Anyway, he sees a future where every house has one.
The key to solving most cost problems is the open market, he says. We need price signals to determine when to load, etc. Aggregators can also help automate much of this.
Unpack what Burhcam’s ideal grid would look like
Wuckert asks for more information on what this would look like on a scale. He notes that there are four time zones in the United States, and he wonders if Arbitrage is possible above the enormous distances in the country.
Burcham imagines something much more locally and emphasizes that this cannot be planned centrally. It requires local power generation and peer-to-peer transactions is a necessary part of it.
How is blockchain used? The Bitcoin protocol Works as the global communication standard, facilitates peer-to-peer transactions and offers timed items and verifiable evidence. In addition, this supports with an asset that Bitcoin (or tokens on it) will only provide elasticity.
The biggest advantage of building the network on Bitcoin is to attack it, a malicious actor would have to attack the Bitcoin network itself. But if they also ran on it, they would ultimately attack themselves, which made the attack is meaningless due to mutually insured destruction.
“Bitcoin does not exist if the network goes down, but the network does not go if it is built on Bitcoin,” says Burcham, illuminating Geni to Satoshi Nakamoto’s invention.
How receptive are stakeholders to this idea?
Wuckert wonders what the gray -haired authorities and stakeholders think about Burcham’s ideas. How has his pitch gone over with them?
“They wonder if I sell it,” Burcham says, emphasizing that he doesn’t know. Others have told him that it is impossible. Nobody wants to do it because of the costs involved, but he reminds them of how it is a national security superpower, and the first relocator will have the advantage.
To hear more about how a decentralized grid can be built on Bitcoin, which is why commercial assets such as tokens can make it even safer, and the direction of Burcham’s company is now taking, Check out the section here.
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