The platform will allow customers to choose the type of renewable energy they want to purchase and provide transparency about where the energy is sourced
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Spotted: As awareness of global warming increases, more people would like to switch to a green energy supplier. However, it is often very difficult for consumers to know what green energy providers are available to them and where the available providers source their energy. Now, French green energy retailer eKWateur and Australian tech company Power Ledger are partnering to develop a blockchain-enabled renewable energy trading platform.
The platform, dubbed Vision, will allow customers to choose the type of renewable energy they want to purchase and provide transparency about where the energy is sourced. All the information will be certified via blockchain. French customers will be able to choose the mix of energy they want and track it in thirty-minute increments. In the second stage of the project, consumers will be able to buy and sell excess renewable energy using peer-to-peer energy trading.
Consumers will now be able to source their energy from locations such as their neighbour’s rooftop solar panels, or a wind farm in a particular location. The use of blockchain for certifying the source of the energy assures transparency and builds trust. The hope is that additional transparency will encourage consumers to engage more with green energy.
At Springwise, we have seen blockchain used for a wide variety of innovative projects, including assuring the authenticity of products and to secure better prices for small farmers. With this new initiative, blockchain will allow consumers to actively participate in the transition of the energy market.