3. Volos 3.0 ?
Volos 1.0 โ decentralised but disconnected, physical
market presence
Volos 2.0 โ centralised and connected, market presence
through intermediaries
Volos 3.0 โ decentralised but connected, network
market presence
4. Volos Economy
Land โ Volos as a location or place
Physical โ resources embedded in (eg buildings) and
passing to/through (eg solar energy) Volos
Intellectual โ people of Volos and intellectual value
created over millennia
5. Financing & Funding
Financing
- short/medium term credit needed for circulation of
goods & services and creation of productive assets
- people-based credit (P2P) issued by people individually
or jointly (eg Company)
Funding
- long term credit embedded/invested in productive asset
- asset-based (Peer to Asset) credit
6. Protocols & Prepay
Protocols
- People-based (P2P) Credit โ Guarantee Society
- Asset-based Credit โ Capital Partnership
Prepay โ asset-based credit returnable in payment for
use value over time (utility) of productive asset
8. Tax Prepay
Tax Prepay โ credit returnable in payment of taxes
Tax Return โ 'stock' part of tally stick returned to Treasury
Rate of Return - rate over time at which stock is returnable
for cancellation
eg Prepay ยฃ8 for ยฃ10 tax - ยฃ2 profit 25% pa rate of return
- not fixed - depends on existence & quantity of flow
9. 21st
Century Prepay
Land โ credit returnable in payment for land rental or
production from land
Energy โ credit returnable in payment for energy use
Intellect โ credit returnable in payment for use of
intellectual property eg knowledge, software, video
10. Resource Resilience โ Natural Grid
Since 1980 Denmark's GDP rose 78%
Energy use has been stable
Carbon fuel use has declined
How did Denmark achieve this?
11. Resource Resilience - Natural Grid
Least Carbon Fuel Cost principle
- not 'least Danish Krone cost' (or least $, โฌ or ยฃ cost)
- minimum carbon fuel input for a given output of
electricity, heat or power
- investment in renewables, heat, transport, energy
efficiency
12. Emerging Outcomes of Natural Grid policy
- decentralisation
- skills base of knowledge and knowhow: eg Vestas is
the biggest global wind turbine manufacturer......in a
country of 6m people
- trend to energy security and energy independence
- not forgetting........reduction in carbon use
14. Land Prepay โ Value Proposition
Community
- sells rentals forward and locks in price
- interest-free loan until prepay unit returned vs rental
Occupier
- prepays rental and locks in price
15. Land Prepay โ the Value Proposition
Investor
- direct 'inflation hedge' investment in land
- Occupiers buy prepay credits from Investors at best
price below issue price & return against rental
Manager
- shares in gross rentals or production
- interests aligned with Investor
- no 'Principal/Agency' problem
16. Land Partnership - Outcomes
Housing as a Service - relationship-based not transaction-
based model - costs transformed to revenue shares
Neutral โ removes ego and politics
Collaborative - stakeholder interests aligned
Sustainable - all have interest in minimising cost over time
18. Energy Prepay โ Value Proposition
Community
- sells energy forward and locks in price
- interest-free loan until prepay unit returned vs supply
Consumer
- prepays for energy and locks in price
19. Energy Prepay โ the Value Proposition
Investor
- direct 'inflation hedge' investment in energy
- Consumers buy credits from Investors at best price
below physical energy price & return against supply
Manager
- shares in gross revenues or production
- interests aligned with Investor
- no 'Principal/Agency' problem
20. Energy Partnership - Outcomes
Energy as Service - relationship-based not transaction-
based; costs transformed to revenue shares
Neutrality โ removes ego and politics
Collaborative - stakeholder interests aligned
Sustainable - all have interest in minimising cost over time
21. Mega Watts and Negawatts
Mega Watt production of renewable energy sells at the
wholesale market 'bid' price
Nega Watt production is made by consumers at the retail
market price
Uk Green Deal (bank loans to fund energy efficiency
measures) has two problems
- compound interest on bank ยฃ loans
- even if ยฃ is saved, no guarantee energy will be saved
22. Volos Natural Grid
Investor pays ยฃ1k for Units in Volos Energy Pool
- 20 1Mwh prepay Units @ โฌ50 each
- 2000 10 Kwh prepay Units @ 50c each
Fund invests through energy loans eg Volos hydro
power; CHP/co-generation; cooling
Loan repaid via energy bills through buying prepay
energy units at market price
Interest-free loan โ return to investor in energy
Unless consumers save energy they will not save โฌ
23. Volos Green Deal
Custodian
Volos Energy Pool
Custodian
Volos Energy PoolInvestors
Consumers
Manager
โฌ Energy
Loan
Buy units
at market price
โฌ
Prepay
Prepay
Units
โฌ
โฌ
25. IOU is guaranteed by Sellers & Buyers mutually
Seller Buyer
IOU
Value
Pool
GuaranteeGuarantee
26. Seller & Buyer pay guarantee charge into Pool held
by Custodian
Seller Buyer
IOU
Value
Pool GuaranteeGuarantee
Fee Fee
27. Buyer settles credit in โฌ or 'โฌ's worth' eg energy-
based or land-based currency
Seller Buyer
Value
Pool GuaranteeGuarantee
Fee Fee
28. If Buyer defaults: system pays sellers and collects
from buyer if possible
Seller A Buyer
Default
Pool
Collects
Pays
Seller B
Default
Pays
29. Service provider sets guarantee limits, handles
defaults & manages system
Seller Buyer
IOU
Value
Pool GuaranteeGuarantee
Fee Fee
Manager
FeeService
30. Clearing Union
Guarantee Society is the social contract within which
Sellers accept Buyers' credit and settle balances
Sellers and Buyers pay a guarantee charge and share
costs of operation and defaults
Manager allocates guarantee limits, manages platform,
ensures transparency, handles defaults
32. It'll Never Work
For 140 years, Protection & Indemnity (P&I) Clubs have
mutually guaranteed risks Lloyds won't cover
For 125 years P& I Clubs have been managed by
Thomas Miller
