🤖 How much negotiating skills has your machine?

GM, GM!

You know how we break down the Web3 use cases every week in 4.3 minutes:

• 😰 The challenge

• 💡 The solution

• 👀 Take away for other industries

Robots will not (yet) take over the world.

But they will be able to negotiate for us.

😰 The challenge

We all know that industrial processes use a lot of electricity. Some more than others.

On top of that, the price of electricity can fluctuate wildly, sometimes into negative territory, due to the rise of renewable energy.

To make planning easier, there are tariffs that fix prices and quantities for specific periods of time.

But neither the industrial company benefits from the negative prices, nor can the grid operator sell more electricity when more wind and solar power is produced.

There has to be more flexibility.

What if we could network machines in such a way that they coordinate which process should run at any given time?

With an automatically negotiated electricity price.

Without human intervention.

💡 The solution

Bosch may be able to help.

The research team has been working on the "Economy of Things" (EoT) since 2017.

The vision is that connected machines will actually create value and exchange that value with people, other things and machines.

The team is focusing on a few key technologies such as

• Distributed Ledger Technologies (DLT)

• Tokenomics and tokenization

• Self-Sovereign Identities (SSI)

• Multi-party computation (MPC)

• Artificial Intelligence (AI)

A first prototype is similar to our scenario described above:

Electric cars negotiate the price of electricity with charging stations on their own.

The car is given a few characteristics and specifications for the planned route, such as the maximum electricity price and that the charge level must never fall below 20%.

The computer does the rest. It looks for the best electricity price and the most optimal route. The driver can relax and follow the navigation instructions.

👀 Take away for other industries

What about your machines?

Can they be enabled to make independent decisions with just a few specifications and instructions?

Does it always have to be very complex, or do we humans often trip ourselves up?

It is important that not only your business interests are taken into account, but also those of your business partners. This is the only way to get everyone around the table thinking about the EoT together.

Often 3-4 constraints are enough to derive the important decisions.

But finding them usually requires a little mental exercise.

While speaking about brainpower:

With the high temperatures in Germany, my head only works pretty well in the morning hours. From noon on it is fried. 🥴

The only thing that helps is to cool down in the children's pool.

I’m out for a “swim”. ✌️

Talk too you next week!

Florian

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