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 Blockchain 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 blockchain technology is immense. But in order for utilities to take advantage of the benefits of distributed ledger technology, they need a decentralised blockchain 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 blockchain protocol; a blockchain that is custom 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 blockchain technology, and increase the ease of development for them to build and deploy blockchain based 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 blockchain capabilities within their own infrastructure. But in addition to the internal benefits that come with harnessing a blockchain infrastructure, we are enabling the storage and exchange of value across previously unconnected sectors and companies. By being on the Tility blockchain, our partners will be a part of the Tility ecosystem, a highway of bridges between these utility networks.
This will reduce friction between currently siloed systems and create the potential for innovative new 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, or EV charging, or water credits, or simply donate it to another community, seamlessly, across the world.
We are dedicated to creating the best possible blockchain solutions for utilities who are innovating for a brighter future.
By developing the Tility Protocol, and helping utilities develop use cases to apply blockchain 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.