People worldwide DO NOT WANT utility “Smart” Meters – electric, gas, and water. Tens of millions have been installed and millions more are planned despite all the problems they cause – fires, explosions, higher bills, malfunctioning and broken appliances, cybersecurity risks (see 1, 2), and more.
These meters DO NOT save meaningful amounts of energy and customer bills are usually increased for their installation AND frequent replacement (see 1, 2, 3, 4). To say these meters have a bad reputation is putting it mildly. Even proponents are having a difficult time singing their praises.
Nevertheless, “Smart” Meters are still extremely profitable to utility companies. Because they are 2-way transmitting, “Smart” Meters allow them to collect customer minute-by-minute usage data so they can analyze it in order to market more products and services to customers. They can also sell this data to 3rd parties. Last but certainly not least – these meters also allow utilities to remotely turn off services and ration energy.
At least one tech giant is now interested in profiting from “Smart” Meters as well.
From Analytics India Mag:
Steve Wozniak, the co-founder of Apple, has ventured into blockchain-based energy efficiency startup Efforce — 45 years after starting his first venture. The ambitious project by Wozniak aims to use cryptocurrency and blockchain technology to make it cheaper and more comfortable for companies to fund ‘green’ projects. The startup, based out of Malta, has been in stealth mode for the last year, about which Wozniak had hinted in the Delta Summit 2019.
This is the first-ever blockchain-based energy-saving platform that is accessible to large and small investors, regardless of borders to monetise their transferable energy savings. It aims to democratise the $250 billion markets for energy-efficiency projects.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?