> You could wire together a group of houses or neighborhoods with generators and batteries and make the electric company redundant by establishing contracts which buy and sell electricity between participants at rates which adjust in response to demand, forecast, and each battery’s reserves.
Who is this you, why would this group of houses trust you and not their established providers. And how will this group of houses verify that your contract even works (forget about "works correctly", start with just "works").
> Essentially Ethereum can be used to codify financial contracts in order to provide a level of trust where one does not otherwise exist.
No it can't. These are not contracts. These are programs written in esotheric programming languages that work only as long as there's a connection to the things they "manage". They are unenforceable, have significant issues with versioning and bugs (once deployed, its deployed forever), have no bearing on the physical world etc.
> You could wire together a group of houses or neighborhoods with generators and batteries and make the electric company redundant by establishing contracts which buy and sell electricity between participants at rates which adjust in response to demand, forecast, and each battery’s reserves.
Who is this you, why would this group of houses trust you and not their established providers. And how will this group of houses verify that your contract even works (forget about "works correctly", start with just "works").
> Essentially Ethereum can be used to codify financial contracts in order to provide a level of trust where one does not otherwise exist.
No it can't. These are not contracts. These are programs written in esotheric programming languages that work only as long as there's a connection to the things they "manage". They are unenforceable, have significant issues with versioning and bugs (once deployed, its deployed forever), have no bearing on the physical world etc.