For Joe Holles de Peyer, a farm has turned out to be fertile ground for what he and his business partners believe is a new area of technology growth. Holles de Peyer is the Chief Operating Officer and co-founder of Gate2Chain, a company focused on providing blockchain development tools for businesses wanting to harness the full potential of blockchain. The “eureka moment” that launched Gate2Chain was the discovery of a way to stream money and data on the same communication protocol with the BSV blockchain. An experiment with water usage proved the concept.
The idea for a smart meter that “incentivizes the responsible use of water” came from the agricultural region of Mallorca, where Holles de Peyer lives on a property that neighbours the farm owned by one of his business partners. In Spain’s Balearic Islands, where Mallorca is located, water scarcity is a growing problem. Holles de Peyer realized that water management has changed little in the past century and with the new possibilities that blockchain has to offer there had to be room for improvement. That is when Holles de Peyer and his team set up a smart-meter system that connected his home’s well to the reservoir of his neighbour who provided him with water. The idea was for the price of the water to fluctuate depending on the weather conditions and the amount and quality of the water available.
In 2017, the Gate2Chain team set up the system, using a pipe that ran from the reservoir to Holles de Peyer’s tank. They programmed a small water meter and electronic valve that could notify when water was being consumed and also extract the correct payment amount from the blockchain-enabled wallet, based on the contract for usage. The smart meter also monitored the water quality. When it fell, so too did the price. The reservoir meter knew when to replenish the well when the water level dropped below a designated threshold and it was programmed to close the pipe to the well if the digital wallet were to run out of funds. The system worked, but Holles de Peyer and his team needed a blockchain with lower transaction fees if they were to consolidate a commercially viable product.
“We tried to do it on Ethereum and other blockchains and then we cottoned on to the reality of it all. Those blockchains might work for experiments but don’t work for real world use. This was at a time when BSV didn’t exist yet, we followed the two forks and as soon as it was possible on BSV to create a wallet and make that smart meter to pay for its own water, we did,”
Holles de Peyer says of his team’s decision to build on BSV, which has the lowest fees and largest data capacity among blockchains and is built to support the limitless number of transactions that enterprises need.
“My partners and I had been interested in blockchain for some time but it wasn’t until we tried solving a simple everyday problem, like paying for water, that we discovered the full potential of this new technology. That is when we decided to direct our entire focus to blockchain and build a platform that would allow us to solve problems like that of water management but also a million other possibilities.”
Gate2Chain is a development suite which can be used to connect existing or new applications, websites, IoT installations or any other system to the BSV blockchain. Gate2Chain’s tiny experiment on an idyllic Spanish isle has opened up a world of possibilities far beyond what the initial team could ever fathomed. Holles de Peyer notes that Gate2Chain is about making blockchain easy so that companies and individuals can concentrate on “building value and solving problems, real world problems.”
“The world faces unprecedented challenges today, water might well be one of the gravest but there are many others, from social networking, content creation, ownership and management, to accountability or truth. Despite that, most of the world hasn’t woken up to the potential, or even the necessity, of blockchain. Too many are caught up in the crypto casino or trying to reinvent the wheel on unscalable protocols. There’s no time to lose. That’s why we build tools — to empower others to make an impact in their areas of expertise or passion,”
Gate2Chain officially launched in February and already has more than 30 users testing and building with its services. Some are solo developers and others are larger companies. Those users are supported by Gate2Chain’s team, a senior-level, multi-disciplinary group that have previously managed and invested in a number of successful startups. Holles de Peyer singles out Gate2Chain’s partnership with TAAL as a critical element.
“Professional blockchain requires professional mining and TAAL is the epitome of just that. And their Stas protocol is a game-changer for the ecosystem, and for us, of course. It will be paramount to the revolution of the security tokens which are about to come,”
The Stas token allows any user to create regulated tokens that can be used for issuing equity tokens, fiat tokens, or a myriad other options. This will democratize the issuance of currency as well as open up a broader world of financial applications. Such innovation is a reason why Holles de Peyer believes Gate2Chain and TAAL can be among the blockchain companies that move society into a new digital era, where the shortcomings of the Internet can be remedied with greater throughput and low-cost data capacity.
As Holles de Peyer says,
“We’re still stuck in an old Internet and with blockchain we can improve the Internet of today to solve some of the biggest problems of our times.”