Between 200 million and 1.2 billion people and devices with Decentralized Identifiers (DIDs) could use the Energy Web stack by 2030.
Such DIDs or digital identities, which are generated by the user, are an important component of decentralized applications such as blockchain and can be used to identify any ‘thing’ from an individual to an organization or assets such as a device, model or contract.
In a new assignment, Michal Bacia, Token Economist at Energy Web, considers three scenarios for the upcoming adoption of the EW blockchain technology stack, from a “conservative” monthly usage increase of 6% to an “optimistic” increase of 8% with a “in the middle” 7% increase.
Based on this, around 728,000 DIDs are expected to be issued for devices and people in 2022, with Bacia indicating that reaching nearly one million DID in the next year is “feasible” based on the current pipeline and the future. recently completed Flex Alert project for ISO California.
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“For example, the CAISO Flex alert can reach all residents of California, or nearly 40 million people,” he writes.
By extrapolating the figures to 2030, 201 million DID are calculated for the conservative scenario, nearly 500 million for the âintermediateâ scenario and 1.2 billion for the âoptimisticâ scenario.
These correspond to market shares in 2030 of 4%, 10% and 25% respectively, on the basis of a projected growth in the number of connected energy-related devices of 2.2 billion in 2022 to 3 , 8 billion in 2030.
In addition, around 83% of DID is expected to be owned by assets, mainly electric vehicles and smart meters, as well as solar PV, storage and HVAC, among others, with the balance 17% owned by people interacting. with these assets.
âThe goal of issuing 200 million and more DIDs is very ambitious but achievable by 2030,â says Bacia.
He adds that the intermediate adoption scenario assumes the issuance of nearly 83 million DID to individuals by 2030. For the context, this means the integration of around 16% of existing customers of energy companies that are currently members of Energy Web.
Bacia also notes that Energy Web is developing the Decentralized Service Level Assurance (DLSA) solution to promote wider use of its DID-based technology stack.