TLS80: Austin Mitchell on Building Synota & How Lightning Payments Can Disrupt the Energy Industry

Austin Mitchell is the co-founder and CEO of Synota, a platform providing instant payments for energy generators, distributors, and consumers by leveraging Bitcoin’s Lightning Network.

In our conversation we discussed the complexity of the energy value chain, the risks associated with the cash lags that energy companies are exposed to, and we discussed how Synota’s technology will reduce risks and lower costs across the energy industry.

→ Synota: https://www.synota.io/

Sponsors

→ Voltage: https://voltage.cloud?utm_source=kevinrooke&utm_medium=Youtube&utm_campaign=1mo

→ Stakwork: https://stakwork.com/

This show is a Lightning podcast. That means instead of asking for likes or shares, I ask for sats.

The best way to show your support is to download Fountain from the App Store, load your wallet with some sats, and send them over the Lightning Network to kerooke@fountain.fm.

→ Fountain: https://www.fountain.fm/

→ More Episodes: https://play.fountain.fm/show/P6XXuSPg6f2rj4ECB0fT

→ Lightning Address: ⚡kerooke@fountain.fm

Links

→ Stack Sats: https://www.stacksats.how/

→ Twitter: https://twitter.com/kerooke

→ Books: https://www.kevinrooke.com/book-recommendations

→ Blog: https://www.kevinrooke.com/blog

Timestamps

00:00 - Intro

01:52 - Austin Mitchell Intro

06:24 - Energy Production & Consumption

14:06 - How Distributed is the Energy Industry?

32:14 - How Synota Will Improve the Energy Industry

38:32 - The Addressable Opportunity for Improved Energy Payments

50:16 - Synota’s Business Model

52:26 - Why is Synota Focusing on Bitcoin Miners?

1:02:48 - The Lightning Round