Synota is building software to fix payments in the energy industry using Bitcoin and Lightning. In the energy industry, contracts are often either pre-pay and collateralized (very expensive to the energy consumer) or post-pay (very risky for the energy supplier - credit risk and cash lag). Both of these dramatically increase the cost of energy (we estimate upward of 10% of the whole cost), and can be fixed using Bitcoin and Lightning.
Our beachhead is helping solve issues for bitcoin miners and bitcoin mining hosts, but have the vision of rebuilding the entire economy from the ground up where all entities in the energy industry have lighting nodes and are paying value for value in real time.
Austin Mitchell and myself will be answering questions today, feel free to ask us anything! ๐