About Bluenote

The Bluenote Foundation has as its core mission to lead the transition to zero emission cities, but to do so in a way that is environmentally, economically and socially sustainable. According to the United Nations, more than two thirds of the world’s population will live in cities by 2050. At present, office buildings in cities are the largest source of CO2 emissions, with all the consequences. Worldwide, buildings are estimated to be responsible for 33% of all CO2 emissions. By way of example, according to the New York Green Bank, commercial real estate accounts for 67% of all CO2 emissions in New York City.

Basic Information

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Risk and uncertainty

Buildings typically finance energy efficiency investments through an operating budget with an expected payback in reduced utility bills. That often means buildings usually pursue projects with a payback of less than two years. When a specific energy efficiency strategy is unproven, or has an uncertain impact within the shorter-term lifecycle of a commercial office property, buildings do not take the risk. Their willingness to take a risk on an

efficiency strategy decreases as the payback term increases, and they simply don’t trust the numbers enough from the vendor selling them the product or solution to overcome that hurdle.

Markets work on trust

Historically, there has been a lack of quality real time information on the results and impacts of energy efficiency strategies. There is a reason that most blockchain solutions in the energy industry have focused on buying electricity generation (from renewable or from wholesale markets), and that is simply because that energy can be recorded on a trusted electricity meter that is good enough to be billed on by a utility. If you can bring that

same level of trust to the reduction of energy use in real time, you could find ways to credit and value that energy reduction at the same, or greater, level as energy production.

Core Principles

The Bluenote Protocol will be a trusted decentralized foundation for the recording, calculation, exchanging and verification of the impact of energy efficiency in buildings. The Bluenote Protocol is built on five core principles:

• Open Access: Any project can upload data and gain access to the Bluenote Protocol and its ecosystem.

• Decentralized: The Bluenote Protocol is a method of categorizing and trading data among a decentralized network of nodes, not a single relational database or centralized server.

• Transparent: All shared data streams connected to the protocol are accessible to all third-party apps to be used, along with any transactions or uses of that data.

• Confidential: To maintain confidentiality, all data streams are identified by a unique key that is known only to the owner and anyone they share it with.

• Data has value: Participants can be rewarded with bluenotes simply for uploading useful data to the protocol, with the amount of rewards dependent on the type, quality, frequency, and demand for that data

The Problem

Getting the right data to make the best decisions about energy efficiency in buildings is difficult. A building’s energy use, operational and asset value data is rarely available. If it is, it is typically siloed in vendor hardware and software products, walled off from one another in expensive proprietary solutions. Without easy access to data, building owners and investors have had difficulty proving how specific investments in buildingtechnology impact energy use and the bottom line.

The Solution

Bluenote will pull these data streams out of buildings and standardize it through a distributed blockchain solution called the Bluenote Protocol. The Bluenote Protocol is an open-access, confidential network that enables simple data sharing, data services, and building analysis in order to unlock new energy efficiency strategies in buildings. The software-based Bluenote Protocol can be used both with new applications and with

energy technologies already installed in buildings throughout the world.

The Token

The Bluenote token is an ERC20-compliant cryptocurrency, utilizing smart contracts. which will be tradable under the ticker BNOW. Buildings and devices that integrate the Bluenote Protocol and share data are rewarded in Bluenote tokens. Buildings can then buy and use Bluenote tokens to purchase energy efficiency analytics, from application developers who use the Bluenote Protocol.

The Marketplace

The Bluenote Protocol simplifies and speeds up the energy efficiency service market. Rather than developing dedicated hardware and software integration for each vendor, a building connected to the protocol can buy a service with Bluenote tokens, and simply point the third-party application to the location of their data already on the Bluenote Protocol. Further, as more data becomes linked through the Bluenote Protocol, applications will be able to mine the large data network for insights into building efficiency strategies that work, while preserving the confidentiality of the buildings sharing the data.

Team

Member Jeremy Adelman Energy and Business Models Andrew Barbeau Energy and innovation policy Hester Kranendonk Community management Philippe Tarbouriech Technology development

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