A Future of Distributed Ledgers
Roger Woodworth, principal consultant at Mindset Matters, helps others align strategies for greater impact. Previously he was vice president and chief strategy officer of Avista Corp. He's chaired Edison Electric Institute's customer service executive advisory committee and was board president of the National Hydropower Association and the Northwest Gas Association.
Pay attention. You can hear a train rumble in the distance. Do you stand still on the tracks? Or do you run and hide in fear? "No" is, of course, the answer to both questions.
You know enough to take precautionary steps in anticipation of what's to come. So, you move before the roar of the train is upon you. Far enough to avoid the danger and to the right side of the tracks so your progress is not impeded.
But what do you do if the signals are unfamiliar?
The military faces this sort of situation all too often. They refer to it as VUCA - Volatile, Uncertain, Complex and Ambiguous. The basic response to VUCA situations is to listen, act in proportion to the signal strength, and listen again. The precautionary measures yield ever-greater insights. Each turn of the cycle shrinks uncertainty and expands preparedness.
Pilot projects at utilities often seem to serve a similar purpose. Experimental rate designs, behind-the-meter service trials, and studies of all kinds of grid technology are some common examples. That's smart. Pilots offer an efficient way to detect risks, confirm opportunities and improve processes. Each turn of the cycle boosts the odds of success.
Now is the time to apply this tried-and-true approach to a new, enabling technology: blockchain.