M Blockchain (Chairman Michael Choi) introduced an energy blockchain ecosystem called ‘Metanoia’ that has a decentralized energy platform and solutions to solve unemployment issue. Citizens will become prosumers that directly participate in energy production and consumption with Metanoia while cities will create new values and profits.
Smart Cities such as Eco Delta City (Busan) and Songdo International Trade City (Incheon) will play roles similar to that of Amazon and Google in the future. M Blockchain introduced a decentralized energy platform and blockchain-based credit economy as core technologies.
“Future energy will be an element that will make people very dependent upon like food, clothing, and shelter.” said Chairman Michael Choi of M Blockchain. “It is time for us to think about economic systems and jobs based on energy.”
M Blockchain will replenish demands for energy that have surged through ‘local renewable energy plant (tentative name: visible living plant)’ where citizens participate spontaneously. Living plant is not like a large power plant, but it is a small plant that can be built anywhere in a city. It utilizes both wind power and solar power regardless of noise and environment. M Blockchain is currently testing it in Songdo and is considering about introducing living plants to Boracay in Philippines and Burkina Faso in Africa.
“Biggest consumer of future energy will be data telecommunication.” said Chairman Choi. “We are going to establish unlimited Wi-Fi network with self-sufficient energy along with living plants within Metanoia.” Citizens will participate in city telecommunication infrastructure network by installing Wi-Fi routers at their homes. Wi-Fi repeaters based on public bandwidth will be installed at houses, parks, and bus stations. These repeaters will provide unlimited telecommunication by receiving power from nearby living plants. This is the picture of a future Smart City where citizens become ‘telecommunication companies’ and ‘power plants’.
M Blockchain presented a plan where cities will create and redistribute profits, which are made through citizens’ energy and telecommunication infrastructures, back to citizens. “Profits occur even when citizens live their daily lives while using energy infrastructures.” said Chairman Choi. “Citizens will be compensated for profits made by energy and information provided to city administration services.” Cities will make profits through free energy transactions and various financial activities. “While companies have been responsible for earned income, cities will guarantee income in the future.” said Chairman Choi. “Growth without employment is overcome by a model where a city becomes a source of income itself.”
Meanwhile, Metanoia is planning to introduce its whitepaper and a roadmap in Philippines on the 4th of December. Starting with its first living plant in June of 2019, it is going to introduce its schedule for establishing Metanoia ecosystem with unlimited Wi-Fi platforms in December.
Staff Reporter Park, Jongjin | truth@etnews.com