Eddie's Blog on Energy & Physics: How to Implement an Electricity Backed Currency The Wall Street Journal has had a lot of editorials recently on gold or silver backed currencies, so I thought that I'd revisit the topic of Electricity backed currency from a prior post (which happens to be the most viewed of the posts I've written.) So, it must be a hot topic (unlike a post at roughly the same time on the Source of exergy in the early universe.) As I mentioned in the prior post, I think that we should ground our currency with something that has value. Energy-Harvesting Street Tiles Generate Power from Pavement Pounder PARIS—On April 7, 2013, Kenya’s Peter Some won the 37th Paris Marathon with a time of 2:05:38. A surprise winner, Some missed the event record by only 27 seconds, thus depriving him of a place in running history. He need not have worried; unknown to him and thousands of fellow marathoners, they were all nonetheless part of a historic event.
Energy-Backed Currency The problem with money The problem with money is that it either has to have intrinsic value in itself, like gold, or it has to be backed by or exchangeable for something that has intrinsic value. The abandonment of this principle, and the worldwide move to fiat currency, money freely printed and backed only by the soundness of the country or bank that issued it, has been brought the world’s economies to the verge of collapse in short order. The world needs to return to the sound money policy of backed currencies, currencies that either have intrinsic value in themselves or are readily exchangeable for something that has intrinsic value.
Energy Producing Bicycle Lane is Introduced in the Netherlands Photovoltaic technology has been poised as the future of energy generation. Although other energy sources, such as wind power, have proven to be more effective for large-scale electricity generation, PV keeps on surprising users with it many every-day applications, such as rooftop panels and portable battery chargers. A pinch of innovation and a lot of creativity can make PV technology go a long way. In 2009, the Dutch research institute TNO envisioned an interesting application of solar technology. What if the sunlight that naturally falls on the surface of a road could be turned into electric power? The idea of a road surface acting as a large solar panel was proved to be attractive for the road construction company Ooms Civiel, technical service provider Imtech Traffic & Infra, and the province of Noord-Holland, all of which formed a consortium with TNO called SolaRoad.
The Crime of Fighting Poverty: Local Currency's Success in Kenya Ends in Forgery Charges (Photo: via Shutterstock)Former Peace Corps volunteer Will Ruddick and several residents of Bangladesh, Kenya, face a potential seven years in prison after developing a cost-effective way to alleviate poverty in Africa’s poorest slums. Their solution: a complementary currency issued and backed by the local community. The Central Bank of Kenya has now initiated charges of forgery. Complementary currencies can help eradicate poverty. Proving that may be difficult in complex economies, due to the high number of factors influencing outcomes. This Bike Elevator Makes Steep Hills a Little More Manageable Scandinavia, always ahead of the bike infrastructure curve, has something else to share: a self-service cycle lift for hilly roads. The first prototype was installed in Trondheim, Norway, in 1993. Since then, it's become a popular tourist attraction that's powered more than 200,000 cyclists up a 130-meter hill, with no accidents recorded. The original lift was dismantled in 2012, and replaced a year later with CycloCable, an industrialized version upgraded to meet new safety standards.
Australia's first redeployable large-scale hybrid PV plant up and running in one week: pv-magazine 24. March 2015 | Applications & Installations, Global PV markets, Industry & Suppliers, Markets & Trends | By: Edgar Meza Construction group Laing O'Rourke has erected the first large-scale solar-diesel hybrid power plant in regional Queensland. The Australian Renewable Energy Agency describes the plant as a "versatile alternative to diesel powered generators." The 1 MW hybrid plant includes 144 kWp of solar PV and is supplying power to an accommodation village for a large construction project in Queensland, Australia. Laing O’Rourke, Australia’s biggest privately owned construction company, has assembled the country’s biggest redeployable large-scale solar-diesel hybrid power plant in the state of Queensland.
Chapter 5: Introduction to Energy Backed Money "HENRY FORD's conception of displacing gold money by a unit of energy stumbles and falls headlong on the threshold of its proposal." - The New York Times, December 6, 1921 As evidenced by the 1921 quote above, Henry Ford proposed a form of energy backed money almost a century ago.