Utilities are changing
Utilities are currently experiencing rapid change and disruption. At a physical level, we are now seeing fundamental changes in the way we generate and consume services such as electricity and water, and shifts in the way we stay mobile and connected within our cities. But a core part of this change is what is occurring at a digital level. The role of increased data, real-time monitoring, and the smart management of resources is having a significant impact on the way we provide and experience these services.
A key technology that is catalysing this evolution of business models and services is the blockchain.
The next generation of the internet and utilities
Utility systems require the constant tracking of resources, with billions of transactions across vast networks of nodes. Given the scale and speed of their transactions, their potential for optimisation and application creation with the use of distributed ledger technology is immense. But in order for utilities to take advantage of the benefits of DLT, they need a decentralised protocol to act as the foundational layer on which those applications can built.
That foundational layer is Tility.
The Tility Protocol
RedGrid is developing the Tility protocol; a custom software layer that is designed to suit use cases and applications for utilities working on an efficient, cost effective, cleaner future.
The Tility Protocol will enhance the way that utilities are able to optimise their existing networks with distributed technologies, and increase the ease of development for them to build and deploy decentralised applications (dApps).
Tility will enable a new understanding and experience for what utilities provide. RedGrid is currently building out use cases with clients and building custom software development kits to apply these capabilities, and build the Tility Protocol.
A New Era of Collaboration
RedGrid is helping utilities harness DLT capabilities within their own existing systems. But in addition to the internal benefits that come with harnessing a decentralised infrastructure, we are enabling the storage and exchange of value across previously disconnected sectors and companies. By being on the Tility protocol, our partners will be a part of the Tility ecosystem, a highway of bridges that connects these utility networks.
This will reduce friction between currently siloed systems and create the potential for innovative collaborative business models that involve the exchanging of value across utility sectors. These include, but are not limited to, offering new services to customers that allow them to exchange their excesses in certain utility resources for other, for example exchanging excess solar produced electricity for additional internet credit, EV charging or water credits, seamlessly, across the world.
We are dedicated to creating the best possible web3.0 solutions for utilities who are innovating for a brighter future.
By developing the Tility Protocol, and helping utilities develop use cases to apply distributed solutions, RedGrid will build towards the next generation of the human elemental experience, and enhance the way we keep warm, cool, clean, mobile and connected.