Earth. It's only got so much to give, right? Finite resources and energy hungry humans. We know that we have a waste culture and that we have pre-condition towards excess. We know that we need to curb our addiction to energy in order to sustain our future population growth and assure the viability of the planet. We also know that we are intelligent, that we can solve problems and that we can use design thinking to preserve the planetary systems that we rely on in order to achieve our sustainable development.
We've come up with a techsolve to reduce wasteful and costly energy consumption. It is applied locally but has the potential to be scaled up and up.
Novum Industria (Latin for New Energy) is a Blockchain solution, which rewards the consumer for lower energy outputs with tokens. These tokens are the incentive to drive consumer behavioural change to be more energy conscious and lower the burden on power infrastructure.
What it does
Using Blockchain, we track energy consumption and reward consumers for beating a target with a usable/transferable token. The idea is built on premise that the average Australian household wants to reduce energy costs, energy providers want to spread the energy load between on/off peak times and governments want to support a change in energy use. Working at the local scale, we have incentivised the household to reduce their energy consumption with a rewards system. Knowing that the environmental benefit alone is not a practical incentive, we are using Behavioural Economic principles to support the culture shift.
Problem Excessive energy consumption is unsustainable; we need to reduce energy wastage, to allow sustainable future growth.
Solution We are using Behavioural Economics to drive systemic change through the use of BlockChain, Cryptocurrency, and strategic partnerships.
How we built it
Challenges we ran into
Keeping the scope realistic and small enough to produce a solution in less than 48hrs! But seriously, we ran into the difficulty of narrowing our wide and broadly applicable solution into a singular problem.
Accomplishments that we're proud of
We have worked really fantastically as a team, having only met once before the hackathon, we quickly identified a synergy of ideas and developed a well considered work breakdown structure. We have activley used our complementary trans-disciplinary knowledge sets and supported each others ideas with constructive critiquing and brainstorming.
What we learned
We learned pretty quickly not to try and solve the climate problem with an app. Small bites of a big problem is a much more realistic MO!
What's next for Future Cities Hackathon