At Bitcoin 2022, a project is developing the future of energy payments using the Lightning Network.
According to Forrest Gump, the famous American philosopher, “Bitcoin and energy go together like peas and carrots.” Bitcoin’s ties to the energy sector are well-established, with useful auxiliary services like waste-energy monetization and grid stability gaining traction daily.
Bitcoin’s energy link is already expanding beyond traditional mining uses. A Lightning project dubbed Distributed Charge, created by Andy Schroder and displayed in the exhibition hall at Bitcoin 2022, has the potential to significantly expand Bitcoin’s integration with the energy industry.
Schroeder is utilizing Lightning to transfer power payments between a Lightning-enabled node embedded in a Tesla and a Lightning-enabled node embedded in a charging station. Individuals may use this technology to trade sats for electrons in a peer-to-peer energy marketplace.
While Distributed Charge is currently piloting the idea with electric vehicles, one can envision the technology being applied on a much larger scale, assisting utilities in more efficient pricing and distributing electricity, as well as enabling independent power producers to sell directly to customers in a more mesh-like grid system.
Schroder’s node is beautifully engineered to survive harsh weather, and his custom-made circuit board builds on Oratek’s TOFU node architecture. Additionally to USB-C, the node may be powered by 7.5 to 28 VDC. It has an M2 connector for mounting a compact SSD or cellular radio directly.
Schroder views Bitcoin as the energy grid’s native payment network, stating that “every electricity meter should support bidirectional payment and energy flows, and everyone should be able to purchase and sell energy privately without involving third parties or inflationary monetary systems.”
Needless to say, pricing and distributing power through Lightning in sats is a very intriguing prospect with far-reaching consequences. The Bitcoin community should assist Schroder in realising this goal by establishing charging stations and equipping more electric vehicles with his nodes.
Bitcoin 2022 is a component of BTC Inc’s Bitcoin Event Series, which also includes Bitcoin Magazine. Fangorn has written a guest article for us. Opinions expressed are solely those of the author and do not necessarily represent those of BTC Inc. or Bitcoin Magazine.
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