Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. https://bitcoin.org/bitcoin.pdf outlined an alternative to the current monetary system in which banks are replaced by a peer-to-peer system to issue and transfer digital money: the Bitcoin. While Bitcoin has attracted a substantial investment volume, the system has not achieved the status of a viable alternative monetary system. However, the distributed ledger technology (DLT) underlying the payment system is being applied successfully by financial institutions and is likely to have important implications for the future of money and banking. In this paper we therefore focus on the most advanced distributed ledger application in the financial industry: R3 Corda. This paper is structured as follows. In the first section, we relate the debate about systems of money creation to the rise of Bitcoin. Next, the development of R3 Corda is discussed and the lessons learned for monetary reform. We conclude with an assessment of the scope and likelihood of monetary reform as a consequence of DLT applications by central banks.
The SynergyS project aims to develop and assess a smart control system for multi-commodity energy systems (SMCES). The consortium, including a broad range of partners from different sectors, believes a SMCES is better able to incorporate new energy sources in the energy system. The partners are Hanze, TU Delft, University of Groningen, TNO, D4, Groningen Seaports, Emerson, Gain Automation Technology, Energy21, and Enshore. The project is supported by a Energy Innovation NL (topsector energie) subsidy by the Ministry of Economic Affairs.Groningen Seaports (Eemshaven, Chemical Park Delfzijl) and Leeuwarden are used as case studies for respectively an industrial and residential cluster. Using a market-based approach new local energy markets have been developed complementing the existing national wholesale markets. Agents exchange energy using optimized bidding strategies, resulting in better utilization of the assets in their portfolio. Using a combination of digital twins and physical assets from two field labs (ENTRANCE, The Green Village) performance of the SMCES is assessed. In this talk the smart multi-commodity energy system is presented, as well as some first results of the assessment. Finally an outlook is given how the market-based approach can benefit the development of energy hubs.
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Positive Energy Districts (PEDs) are a promising approach to urban energy transformation, aiming to optimize local energy systems and deliver environmental, social and economic benefits. However, their effectiveness and justification for investment rely on understanding the additional value they provide (additionality) in comparison to current policies and planning methods. The additionality perspective is not used yet in current evaluations of PED demonstrations and pilots. Therefore, this paper introduces the concept of additionality in the evaluation of PEDs, focusing on the additional benefits they bring and the circumstances under which they are most effective. We discuss the additionality of PEDs in addressing the challenges of climate neutrality and energy system transformation in three European cities that are funded by the European Commission’s H2020 Programme. It should be noted that given the ongoing status of these projects, the assessment is mainly based on preliminary results, as monitoring is still ongoing and quantitative results are not yet available. The paper discusses the drivers and barriers specific to PEDs, and highlights the challenges posed by technical complexities, financing aspects and social and legal restrictions. Conclusions are drawn regarding the concept of additionality and its implications for the wider development of PEDs as a response to the challenges of climate neutrality and energy system transformation in cities. We conclude that the additionality perspective provides valuable insights into the impact and potential of PEDs for societal goals and recommend this approach for use in the final evaluation of R&I projects involving PEDs using actual monitored data on PEDs.